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RAPT Therapeutics, Inc. (NASDAQ: RAPT) is a clinical-stage biopharmaceutical company specializing in immunology-based treatments. Focused on developing and commercializing oral small molecule therapies, RAPT Therapeutics aims to address significant unmet medical needs in oncology and inflammatory diseases. Utilizing its proprietary discovery and development engine, the company creates highly selective small molecules designed to modulate critical immune drivers underlying these conditions.
RAPT Therapeutics has two main drug candidates: FLX475 (tivumecirnon) and RPT193 (zelnecirnon). FLX475 targets the C-C motif chemokine receptor 4 (CCR4) and is designed to inhibit the migration of regulatory T cells into tumors, enhancing the immune response against cancer. RPT193, also targeting CCR4, focuses on inhibiting type 2 T helper cells in inflamed tissues, offering potential relief for inflammatory diseases like atopic dermatitis and asthma.
In recent developments, RAPT Therapeutics reported promising Phase 2 data for FLX475 in combination with pembrolizumab for non-small cell lung cancer (NSCLC) patients. The company also emphasized FLX475's potential in other cancers, including head and neck cancer, gastric cancer, and non-Hodgkin lymphoma. Despite a clinical hold placed by the FDA on the Phase 2 trials for zelnecirnon due to a serious adverse event, RAPT continues to investigate and aims to resolve the issue.
Financially, RAPT Therapeutics maintains a strong cash position, reporting $158.9 million in cash and equivalents by the end of 2023. The company is diligently working to advance its clinical programs and explore additional targets in the discovery stage, ensuring a robust pipeline for future developments.
RAPT Therapeutics (Nasdaq: RAPT), a clinical-stage, immunology-based therapeutics company, reported its third quarter 2024 financial results. Net loss for Q3 2024 was $18.4 million, a significant improvement from the $31.4 million loss in Q3 2023. Research and development expenses decreased to $13.3 million from $27.0 million in Q3 2023, mainly due to lower development costs for zelnecirnon, tivumecirnon, and early-stage programs, as well as reduced personnel and lab supply expenses. General and administrative expenses also saw a slight reduction to $6.4 million from $6.9 million. The company implemented a workforce reduction in July 2024, affecting 47 employees (40% of the workforce), incurring $0.9 million in restructuring charges. For the nine months ended September 30, 2024, net loss was $76.6 million, down from $85.9 million in the same period of 2023. As of September 30, 2024, RAPT held $97.9 million in cash and marketable securities.
RAPT Therapeutics (Nasdaq: RAPT) announced the termination of its zelnecirnon (RPT193) program following FDA clinical holds on two Phase 2 trials in asthma and atopic dermatitis. The holds were implemented in February 2024 due to a serious adverse event of liver injury requiring transplant in one patient. No other liver toxicity or treatment-related serious adverse events were reported in other participants. The company plans to advance next-generation CCR4 compounds with improved safety margins and expects to identify a new candidate in first half 2025, while pursuing in-licensing opportunities for clinical-stage assets.
RAPT Therapeutics (Nasdaq: RAPT) reported financial results for Q2 2024. Key points include:
- Net loss of $27.7 million in Q2 2024, up from $25.3 million in Q2 2023
- R&D expenses increased to $22.6 million in Q2 2024 from $21.6 million in Q2 2023
- G&A expenses remained unchanged at $6.7 million for both Q2 2024 and Q2 2023
- Cash and equivalents of $114.8 million as of June 30, 2024
- Workforce reduction of 40% (47 people) announced on July 16, 2024
The company continues to analyze data from Phase 2 trials of zelnecirnon in atopic dermatitis and asthma, which were closed early due to FDA clinical holds in February.
RAPT Therapeutics, Inc. reported its financial results for the first quarter of 2024, maintaining a solid cash position of $141.6 million. The company decided to close and unblind its Phase 2b clinical trial of zelnecirnon in atopic dermatitis and its Phase 2a trial in asthma due to a serious adverse event of liver failure. Despite challenges, the company remains optimistic about the data collected and is working towards completing the analysis in the third quarter of the year.
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