Rallybio shares fall 3.11% after-hours despite receiving $12.5 million equity milestone payment from Recursion.

Rallybio Corporation declined 3.11% in after-hours trading. The company recently received a $12.5 million equity milestone payment from Recursion for the initiation of additional preclinical studies for REV102, an investigational ENPP1 inhibitor in development for the treatment of hypophosphatasia (HPP). This milestone reflects the continued momentum of the REV102 preclinical program.