Rallybio rockets on news of collaboration with J&J
US clinical-stage biotech Rallybio Corporation (Nasdaq: RLYB) saw its shares leap 76% to $2.87 pre-market today, after it revealed a collaboration with healthcare giant Johnson & Johnson (NYSE: JNJ).
The accord aims to support the development of complementary therapeutic approaches aimed at reducing the risk of fetal and neonatal alloimmune thrombocytopenia (FNAIT). In addition, Rallybio received an equity investment of $6.6 million from Johnson & Johnson Innovation – JJDC Inc.
The sign of confidence is a boost for Rallybio, which earlier this year announced a workforce reduction to preserve cash. The Connecticut-based company launched in 2018.
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