Rapt Therapeutics, Inc. Stock Price, News & Analysis

RAPT Therapeutics (Nasdaq: RAPT) has launched a global 14-week Phase 2a clinical trial to assess the safety and efficacy of RPT193, an oral therapy for patients with moderate-to-severe asthma. The double-blind, placebo-controlled study will involve around 100 patients with Type 2-high asthma. The trial follows promising results from a prior Phase 1b trial in atopic dermatitis. Primary endpoints include measuring the lack of asthma control, with patients transitioning to monotherapy in the final weeks. RPT193 targets the CCR4 receptor, potentially addressing significant unmet needs in asthma treatment.

RAPT Therapeutics reported its financial results for Q4 and the full year ending December 31, 2022, revealing a net loss of $23.0 million for Q4 and $83.8 million for the year. Research and development (R&D) expenses rose to $19.5 million in Q4 and $67.1 million for the year, primarily due to costs associated with lead programs RPT193 and FLX475. The company's cash position remains strong at $249.1 million, anticipated to last into mid-2025. RAPT plans to initiate a Phase 2a trial for RPT193 in asthma soon, with topline results for a related trial expected by mid-2024, delayed due to slower patient enrollment.

RAPT Therapeutics, a clinical-stage biopharmaceutical company focused on immunology, will have CEO Brian Wong participate in a fireside chat at the SVB Securities Global Biopharma Conference on February 14, 2023, at 1:40 p.m. ET. The event will discuss RAPT's efforts in developing oral small molecule therapies for inflammatory diseases and oncology, including their drug candidates RPT193 and FLX475, aimed at targeting C-C motif chemokine receptor 4 (CCR4). Investors and interested parties can access the live webcast and archived recording on RAPT's website.

RAPT Therapeutics, a clinical-stage biopharmaceutical company, announced that its CEO, Brian Wong, will present at the 41^st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 3:00 p.m. PT. The conference provides a platform for companies to discuss innovations in healthcare. RAPT focuses on developing oral small molecule therapies for inflammatory diseases and oncology. Their notable drug candidates include RPT193 and FLX475, targeting CCR4 receptors. A live webcast of the presentation will be available on their official website.

RAPT Therapeutics presented promising data at the ESMO Immuno-Oncology Congress for its ongoing Phase 1/2 trial of FLX475, showing a confirmed overall response rate of 31% in checkpoint-naïve NSCLC patients, with ongoing responses exceeding one year. Among 13 patients, 38% of those with PD-L1 positive tumors responded, while 25% responded in the PD-L1 negative group. Additionally, a separate cohort of patients with EBV+ NK/T cell lymphoma displayed four responses, including two durable complete metabolic responses. The safety profile of FLX475 remained favorable.

RAPT Therapeutics (Nasdaq: RAPT) has announced that its abstract for the ongoing Phase 1/2 study of FLX475 will be presented at the European Society for Medical Oncology Immuno-Oncology Annual Congress from December 7-9, 2022, in Geneva, Switzerland. The presentation will cover data from patients with checkpoint inhibitor-naïve NSCLC treated with FLX475 plus pembrolizumab and those with EBV-positive NK/T cell lymphoma receiving FLX475 monotherapy. The session will occur on December 8, 2022, from 12:30 to 1:15 p.m. CET.

RAPT Therapeutics announced the pricing of an underwritten public offering of 4,054,055 shares of common stock at $18.50 per share, aiming to raise approximately $75 million before expenses. The offering will close on November 22, 2022. The underwriters have an additional option to purchase up to 608,108 shares. This offering falls under a shelf registration statement declared effective on November 16, 2020. The company focuses on developing oral small molecule therapies for inflammatory diseases and oncology, with drug candidates targeting CCR4.

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.