- Rallybio Corporation, a biopharmaceutical company committed to treating patients with rare diseases, is looking to go public.
- It is reportedly seeking to raise roughly US$ 100 million in gross proceeds.
- Rallybio is developing therapies for patients with rare diseases.
Rallybio Corporation, a biopharmaceutical company committed to treating patients with rare diseases, is looking to go public. The New Haven, CT-based company is reportedly seeking to raise roughly US$ 100 million in gross proceeds, as per its prospectus.
Let’s take a closer look at Rallybio Corporation’s public debut plans.
Biopharma and healthcare companies have received a notable boost in their demand and growth in the wake of the COVID-19 pandemic. As a result, the NASDAQ Healthcare Index expanded by about 21 per cent in the past year and grew nearly six per cent year-to-date (YTD).
As the healthcare sector is expected to grow further in future, many private companies in this sector are aiming for initial public offerings (IPO) to raise money and expand their business operations.
Rallybio said that it is aiming to make its public debut on the Nasdaq Stock Market. Its shares will likely trade under the ticker of 'RLBY'.
The biopharma firm plans to sell about 5.8 million shares at a price range of US$ 13 to US$ 15 apiece at an offering
Rallybio could be opting for an IPO to use the money for the research and development of therapies for rare diseases.
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Rallybio is said to be exploring innovative ways to develop therapies for patients who suffer from rare severe diseases.
According to its prospectus filed with the US Securities and Exchange Commission, approximately 25 to 30 million people suffer from 7,000 types of rare diseases in the US alone. Rallybio aims to develop diversified products with the potential to improve patients' lives in need.
A Global Market Insights research has found that the market size of rare diseases treatment was valued at US$ 144.3 billion in 2019. It added that this sector is projected to register a compound annual growth rate (CAGR) of 12.2 per cent by 2026.
Based on the likelihood that the biopharma company's product may provide clinical benefits to patients in the future, Rallybio could emerge as one of the leading companies focusing on the treatment of rare diseases.
Investors interested in Rallybio stock could get in touch with a financial consultant or set up an account with a brokerage company to explore the option of pre-IPO shares following thorough research.
Alternatively, one can book RLBY shares once they start trading publicly.