MergerAug 6, 2026, 08:09 AM
Rallybio to Merge with Avenzo; Reports Q2 Net Income $43.7M
AI Summary
Rallybio Corp. announced a definitive merger agreement with Avenzo Therapeutics, Inc., a clinical-stage oncology company, following the termination of a prior merger agreement with Candid Therapeutics. The company received a $50.0 million termination fee from Candid, contributing to a net income of $43.7 million for Q2 2026 and $35.4 million for the first six months. Post-merger, Rallybio shareholders are expected to own approximately 2.8% of the combined entity, with Avenzo shareholders owning 56.6% and new investors 40.6% from a $215.0 million concurrent financing.
Key Highlights
- Rallybio entered a definitive merger agreement with Avenzo Therapeutics, Inc.
- Received a $50.0 million termination fee from Candid Therapeutics merger agreement.
- Reported Q2 2026 net income of $43.7 million, up from a $9.7 million loss in Q2 2025.
- Year-to-date 2026 net income was $35.4 million, compared to a $19.1 million loss in 2025.
- Cash and cash equivalents increased to $92.8 million as of June 30, 2026.
- Rallybio shareholders to own ~2.8% of combined company post-merger.
- Avenzo to raise $215.0 million in concurrent financing.
- Research and development expenses significantly decreased to $0.8 million in Q2 2026.
Price Impact
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