RLYB Stock Hits 2-Year Highs After Unveiling Merger With Avenzo – How Much Of The New Company Will Rallybio Shareholders Own?

• The combined company will operate under the name Avenzo Therapeutics and is expected to trade on Nasdaq under the ticker symbol AVZO.
• Avenzo secured $215 million in private placement financing from Vivo Capital, Lilly Asia Ventures, and Blackstone Multi-Asset Investing, among others.
• Last month, Candid Therapeutics terminated a merger deal with RallyBio to pursue an agreement with UCB.

Shares of Rallybio Corp. (RLYB) surged more than 20% on Monday, reaching their highest level in over two years, after the biotech firm unveiled a merger with Avenzo Therapeutics, a deal that enhances its portfolio of next-generation cancer treatments and adds a substantial cash runway.

This comes less than a month after Candid Therapeutics terminated a merger deal with RallyBio to pursue an agreement with UCB. The two firms had signed an agreement in March 2026.

Combined Firm To Trade Under AVZO Ticker

The combined company will operate under the name Avenzo Therapeutics and is expected to trade on Nasdaq under the ticker symbol AVZO. The transaction is expected to close in the fourth quarter of 2026.

Avenzo secured a $215 million in private placement financing from a group of healthcare-focused institutional investors, including Vivo Capital, Lilly Asia Ventures, and Blackstone Multi-Asset Investing, among others.

The company said the proceeds are expected to fund operations into late 2028 and support several upcoming clinical milestones.

Following the deal, existing Avenzo shareholders are expected to own about 97.2% of the combined company, while Rallybio shareholders will hold roughly 2.8%.

Combining Forces In Oncology

Avenzo brings a portfolio of four clinical-stage oncology programs, including targeted small molecules and antibody-drug conjugates (ADCs) for the treatment of tumors. Its lead candidates include AVZO-021 and AVZO-023 for breast cancer, along with AVZO-1418 and AVZO-103, which are being studied across multiple tumor types.

Meanwhile, Rallybio develops treatments for rare and serious diseases. Its pipeline includes therapies targeting conditions with limited treatment options, particularly in blood disorders and diseases linked to immune system dysfunction.

RLYB Sentiment Remains Bearish

Despite the sharp rally, retail sentiment for RLYB on Stocktwits trended in the ‘bearish’ territory over the past 24 hours.

One user said, despite the share price spike, there are “lots of issues.”

The stock has ripped 230% so far this year.

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