Welcome to our dedicated page for RAPT Therapeutics news (Ticker: RAPT), a resource for investors and traders seeking the latest updates and insights on RAPT Therapeutics stock.
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 has announced an underwritten public offering of $75 million in common stock, with an option for underwriters to purchase an additional $11.25 million. The offering, subject to market conditions, is being managed by J.P. Morgan, Evercore ISI, Guggenheim Securities, and Cantor. The shares will be offered under a previously declared effective registration statement by the SEC. This capital raise aims to support RAPT's continued development of oral small molecule therapies for inflammatory diseases and oncology.
RAPT Therapeutics, Inc. (Nasdaq: RAPT) reported a net loss of $21.2 million for Q3 2022, compared to $18.7 million in Q3 2021. Over the nine months ending September 30, 2022, the net loss totaled $60.9 million, an increase from $51.3 million year-over-year. Research and development expenses rose to $16.6 million for Q3 and $47.6 million for the nine months, driven by early-stage program costs. The company's cash position remains strong at $195.4 million, supporting ongoing clinical trials for RPT193 and FLX475.
SOUTH SAN FRANCISCO, Calif., Nov. 09, 2022 – RAPT Therapeutics (Nasdaq: RAPT) announced participation in three upcoming investor conferences in November. The conferences include the Guggenheim 4th Annual Immunology and Neurology Day on November 15, the Piper Sandler 33rd Annual Healthcare Conference on November 29, and the Evercore ISI 5th Annual Virtual HealthCONx Conference on November 30. Interested parties can access live webcasts and recordings through the RAPT Therapeutics website.
RAPT Therapeutics has announced the appointment of Jennifer Nicholson as Senior Vice President of Regulatory Affairs and Quality Assurance, and Adnan Rahman as Vice President of Commercial. These appointments come at a crucial time as the company progresses its RPT193 program into late-phase trials for atopic dermatitis and asthma, and continues developing FLX475 for various cancers. Both executives bring extensive experience from notable biopharmaceutical companies, which will enhance RAPT's regulatory and commercial strategies.
RAPT Therapeutics announced participation in key investor conferences throughout September 2022. The events include Citi’s 17th Annual Biopharma Conference on September 7, Wells Fargo Healthcare Conference on September 8 featuring a fireside chat with President and CEO Brian Wong, and H.C. Wainwright 24th Annual Global Investment Conference on September 12, available on-demand. RAPT is focused on developing small molecule therapies for inflammatory diseases and oncology, including drug candidates RPT193 and FLX475. For live webcasts, visit their website.
RAPT Therapeutics, a clinical-stage biopharmaceutical company, reported financial results for Q2 and the first half of 2022, marking a net loss of $19.2 million for Q2, compared to $16.1 million in Q2 2021. R&D expenses rose to $14.4 million from $13.2 million, driven by costs associated with RPT193. General and administrative expenses also increased to $5.4 million, up from $3.8 million. The company maintains a robust cash position of $207.3 million, bolstered by a $50 million financing. Future plans include expanding RPT193 trials and advancing FLX475.
RAPT Therapeutics, Inc. (Nasdaq: RAPT) has announced a $50 million private investment in public equity (PIPE) financing with the Redmile Group. The transaction involves pre-funded warrants for up to 4 million shares at $12.4999 each, based on the closing price on May 24, 2022. Gross proceeds are approximately $50 million before expenses, with closure expected by May 27, 2022. The company will file a registration statement to register the resale of these shares. This move supports RAPT's focus on developing oral small molecule therapies for inflammatory diseases and oncology.
RAPT Therapeutics has initiated a 16-week Phase 2b clinical trial for RPT193, an oral therapy aimed at treating moderate-to-severe atopic dermatitis (AD). This randomized, double-blind, placebo-controlled study will assess multiple doses of RPT193 and aims to confirm its efficacy and safety. Previous Phase 1b results indicated significant improvements in key efficacy measures and no serious adverse events. The trial's co-primary endpoints include the percent change in the Eczema Area and Severity Index (EASI) and the incidence of treatment-emergent adverse events.
RAPT Therapeutics, Inc. (Nasdaq: RAPT) reported Q1 2022 financial results, revealing a net loss of $20.5 million, up from $16.5 million in Q1 2021. Research and development expenses increased to $16.7 million due to clinical trial costs for RPT193 and FLX475. General and administrative expenses rose to $4.7 million. The company is advancing its clinical trials, including initiating a Phase 2b trial for RPT193 in atopic dermatitis and a Phase 2a trial for asthma. RAPT maintains a solid cash position of $173.0 million.
RAPT Therapeutics, Inc. (Nasdaq: RAPT) recently announced key leadership appointments, including Gwen Carscadden as Chief Human Resources Officer, Jim Farmer as Vice President of Clinical Operations, and Shari Geffon as Vice President of Program and Alliance Management. These hires are seen as pivotal in advancing RPT193 and FLX475 through clinical development. The company aims to address significant unmet needs in inflammatory diseases and oncology, leveraging the extensive experience of these new executives in their respective fields.
FAQ
What is the current stock price of RAPT Therapeutics (RAPT)?
What is the market cap of RAPT Therapeutics (RAPT)?
What does RAPT Therapeutics do?
What are the main drug candidates of RAPT Therapeutics?
What recent achievements has RAPT Therapeutics made?
What financial condition is RAPT Therapeutics in?
What is FLX475?
What is RPT193?
What is the status of the Phase 2 trials for zelnecirnon?
What recent financial results has RAPT Therapeutics reported?
How is RAPT Therapeutics funded for its ongoing operations?
What are the primary focuses of RAPT Therapeutics' research?
