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Rapport Therapeutics, Inc. (RAPP) is a clinical-stage biopharmaceutical company committed to the discovery and development of transformational small-molecule medicines for patients suffering from central nervous system (CNS) disorders. The company's unique approach is rooted in its foundational science, which has elucidated the complexities of neuronal receptor biology. This allows Rapport Therapeutics to map and target specific neuronal receptor complexes effectively.
Neuronal receptors are intricate assemblies comprising receptor principal subunits and receptor-associated proteins (RAPs). These RAPs play a significant role in regulating receptor expression and function. Rapport Therapeutics leverages this insight to advance its RAP technology platform, enabling the creation of precision small molecule product candidates. This strategy holds the promise of overcoming many of the limitations faced by conventional neurology drug discovery efforts.
The company's precision neuroscience pipeline includes its lead clinical program, RAP-219. This program is designed to achieve neuroanatomical specificity by selectively targeting a RAP expressed in discrete regions of the brain. RAP-219 is currently undergoing clinical trials focused on treating focal epilepsy, peripheral neuropathic pain, and bipolar disorder. Additionally, Rapport Therapeutics is engaged in other preclinical and late-stage discovery programs targeting CNS disorders such as chronic pain and hearing disorders.
Recently, Rapport Therapeutics successfully closed its initial public offering (IPO) with joint book-running managers Goldman Sachs & Co. LLC, Jefferies, TD Cowen, and Stifel. In addition to the IPO, the company sold 1,058,824 shares of common stock in a concurrent private placement to existing stockholders. The gross proceeds from these transactions, before deducting relevant expenses, amounted to approximately $174 million. These funds are expected to support the continued advancement of the company's clinical and preclinical programs.
Rapport Therapeutics, a clinical-stage biotechnology firm specializing in central nervous system disorder treatments, closed its initial public offering (IPO) on June 12, 2024. The IPO involved 9,200,000 shares of common stock at $17.00 per share, totaling approximately $174 million, including the full exercise of the underwriters' option to purchase additional shares and a concurrent private placement. Trading began on June 7, 2024, under the ticker symbol 'RAPP'. Goldman Sachs, Jefferies, TD Cowen, and Stifel managed the offering. The concurrent private placement involved selling 1,058,824 shares to existing stockholders. The proceeds will be used to further Rapport's development of small molecule medicines.
Rapport Therapeutics, a clinical-stage biotech company, announced the pricing of its IPO at $17.00 per share for 8 million shares. Trading on the Nasdaq under the symbol 'RAPP' begins June 7, 2024, with the offering expected to close on June 10, 2024. Additionally, the company offers a 30-day option for underwriters to purchase up to 1.2 million more shares. Concurrently, Rapport will sell 1,058,824 shares in a private placement at the IPO price. Combined, these transactions aim to raise approximately $154 million before expenses, contingent on customary closing conditions. Joint book-running managers include Goldman Sachs, Jefferies, TD Cowen, and Stifel.
FAQ
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