Rallybio Corporation announced a one-for-two reverse stock split of its common stock. The move is tied to its proposed merger with Avenzo Therapeutics, a clinical-stage oncology company. The split is expected to become effective at 12:01 a.m. Eastern Time on November 20, 2026.
Split mechanics
Every two issued and outstanding shares will combine into one share. The share count will fall from about 5.6 million to about 2.8 million before the merger closes. The authorized number of shares and the US$0.0001 par value will not change.
Avenzo pipeline
Avenzo develops next-generation oncology therapies, including small molecule inhibitors and bispecific antibody-drug conjugates. Its lead programs include AVZO-021, a CDK2 inhibitor, and AVZO-023, a CDK4 inhibitor. Both are being studied in Phase 1/2 trials for HR+/HER2- metastatic breast cancer.
Post-split trading
After Nasdaq approvals and the merger closing, Rallybio plans to rename itself Avenzo Therapeutics and trade under the symbol AVZO. The new CUSIP number will be 053928 107. Stockholders holding shares in book-entry form do not need to take action.
Computershare Trust Company will act as exchange agent and transfer agent. No fractional shares will be issued, and holders will receive cash based on the closing price on the effective date. Stockholders with physical certificates will receive instructions from Computershare.