RallyBio tries again for reverse merger, this time with Avenzo
RallyBio, which abandoned a reverse merger with Candid Therapeutics after the plan dissolved, announced a new reverse merger with Avenzo Therapeutics, according to the deal announced Monday. The combined company will trade on Nasdaq as AVZO, raise $215 million, and is expected to close by year-end. RallyBio has faced layoffs and disappointing results since going public in 2021.

