• Rallybio has laid off 45% of its workforce in 2024 and plans to cut an additional 40%.
• The company has faced major setbacks, with its stock losing nearly all value since its $81 million IPO four years ago.
• The layoffs reflect deep financial strain and ongoing restructuring efforts.
• Rallybio focuses on rare disease therapies but has struggled to maintain investor confidence.
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Also, slightly related:
• Insitro, a dr-g discovery company, is laying off 200 employees as of May 2025.
• The layoffs are part of a broader trend affecting the biotech industry this year.
• Similar workforce reductions have occurred at other biotech firms facing market pressures.
• Nationwide layoffs are also being reported across sectors, according to Trading Economics.