Shares of Rallybio Corp. (RLYB) are up 71% on Thursday following the announcement of a partnership with Johnson & Johnson (JNJ) aimed at advancing therapeutic approaches to mitigate the risk of fetal and neonatal alloimmune thrombocytopenia also known as FNAIT.
RLYB is trading on the Nasdaq at $2.79, up 71.47% or $1.16 per share. It has traded between $1.22 and $9.14 in the past 52-week period.
Additionally, Rallybio secured a $6.6 million equity investment from Johnson & Johnson Innovation.
The company is working on RLYB212, a human monoclonal anti-HPA-1a antibody designed to prevent FNAIT by halting the production of alloantibodies in expecting mothers.
Rallybio intends to commence a Phase 2 trial for RLYB212 in the latter part of 2024.
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