Shares of Rallybio Corporation (RLYB) jumped sharply on Monday after the company announced a merger agreement with Candid Therapeutics, Inc.
The stock is currently trading at $9.71, up $2.17 or 28.78%, on the Nasdaq. It opened at $9.62 after closing the previous session at $7.54. The stock has traded between $1.76 and $10.70 over the past 52 weeks.
Under the terms of the agreement, Rallybio will acquire Candid in a merger transaction, and the combined company will operate as Candid Therapeutics, Inc., trading under the ticker symbol "CDRX."
In connection with the deal, Candid secured an oversubscribed and upsized private financing of over $505 million, backed by leading healthcare institutional investors. The companies said the combined cash position at closing is expected to fund operations through 2030, supporting advancement of Candid's T-cell engager (TCE) pipeline for autoimmune diseases, including Phase 2 studies of cizutamig.
The transaction is expected to close in mid-2026, subject to shareholder and regulatory approvals.
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