RAPT Therapeutics Reports First Quarter 2025 Financial Results
RAPT Therapeutics (NASDAQ: RAPT) reported its Q1 2025 financial results, showing a significant improvement in net loss to $17.2 million compared to $30.5 million in Q1 2024. Research and development expenses decreased to $12.0 million from $24.8 million year-over-year, while G&A expenses slightly decreased to $7.2 million from $7.7 million. The company maintained a strong cash position of $179.3 million as of March 31, 2025.
CEO Brian Wong highlighted progress with RPT904, their food allergy treatment candidate, with plans to initiate a Phase 2b trial in H2 2025. The company is also anticipating clinical data for RPT904 in chronic spontaneous urticaria (CSU) from their partner Jemincare later this year.
RAPT Therapeutics (NASDAQ: RAPT) ha comunicato i risultati finanziari del primo trimestre 2025, evidenziando un netto miglioramento della perdita netta, scesa a 17,2 milioni di dollari rispetto ai 30,5 milioni del primo trimestre 2024. Le spese per ricerca e sviluppo sono diminuite a 12,0 milioni di dollari dai 24,8 milioni dell'anno precedente, mentre le spese generali e amministrative sono leggermente calate a 7,2 milioni dai 7,7 milioni. La società ha mantenuto una solida posizione di cassa pari a 179,3 milioni di dollari al 31 marzo 2025.
Il CEO Brian Wong ha sottolineato i progressi con RPT904, il candidato per il trattamento delle allergie alimentari, con l'intenzione di avviare una fase 2b nella seconda metà del 2025. L’azienda prevede inoltre i dati clinici per RPT904 nella cura dell’orticaria cronica spontanea (CSU) dal partner Jemincare entro la fine dell’anno.
RAPT Therapeutics (NASDAQ: RAPT) informó sus resultados financieros del primer trimestre de 2025, mostrando una mejora significativa en la pérdida neta, que se redujo a 17,2 millones de dólares en comparación con los 30,5 millones del primer trimestre de 2024. Los gastos en investigación y desarrollo disminuyeron a 12,0 millones de dólares desde 24,8 millones interanuales, mientras que los gastos generales y administrativos bajaron ligeramente a 7,2 millones desde 7,7 millones. La compañía mantuvo una sólida posición de efectivo de 179,3 millones de dólares al 31 de marzo de 2025.
El CEO Brian Wong destacó los avances con RPT904, su candidato para el tratamiento de alergias alimentarias, con planes para iniciar un ensayo de fase 2b en la segunda mitad de 2025. La empresa también espera datos clínicos de RPT904 para urticaria crónica espontánea (CSU) de su socio Jemincare más adelante este año.
RAPT Therapeutics (NASDAQ: RAPT)는 2025년 1분기 재무 결과를 발표하며 순손실이 1,720만 달러로 2024년 1분기의 3,050만 달러에 비해 크게 개선되었음을 보여주었습니다. 연구개발 비용은 전년 대비 2,480만 달러에서 1,200만 달러로 감소했으며, 일반관리비는 770만 달러에서 720만 달러로 소폭 줄었습니다. 회사는 2025년 3월 31일 기준으로 1억 7,930만 달러의 강력한 현금 보유고를 유지하고 있습니다.
CEO 브라이언 웡은 식품 알레르기 치료 후보물질인 RPT904의 진전을 강조하며 2025년 하반기에 2b상 시험을 시작할 계획이라고 밝혔습니다. 또한 파트너인 Jemincare로부터 만성 자발성 두드러기(CSU) 치료제 RPT904의 임상 데이터를 올해 후반에 받을 것으로 기대하고 있습니다.
RAPT Therapeutics (NASDAQ : RAPT) a publié ses résultats financiers du premier trimestre 2025, montrant une nette amélioration de la perte nette à 17,2 millions de dollars contre 30,5 millions au premier trimestre 2024. Les dépenses de recherche et développement ont diminué à 12,0 millions de dollars contre 24,8 millions sur un an, tandis que les frais généraux et administratifs ont légèrement baissé à 7,2 millions contre 7,7 millions. L'entreprise disposait d'une solide trésorerie de 179,3 millions de dollars au 31 mars 2025.
Le PDG Brian Wong a souligné les progrès réalisés avec RPT904, leur candidat pour le traitement des allergies alimentaires, avec l'intention de lancer un essai de phase 2b au second semestre 2025. La société attend également des données cliniques pour RPT904 dans l’urticaire chronique spontanée (CSU) de la part de leur partenaire Jemincare plus tard cette année.
RAPT Therapeutics (NASDAQ: RAPT) meldete seine Finanzergebnisse für das erste Quartal 2025 und zeigte eine deutliche Verbesserung des Nettoverlusts auf 17,2 Millionen US-Dollar im Vergleich zu 30,5 Millionen US-Dollar im ersten Quartal 2024. Die Forschungs- und Entwicklungskosten sanken im Jahresvergleich von 24,8 Millionen auf 12,0 Millionen US-Dollar, während die allgemeinen Verwaltungsaufwendungen leicht von 7,7 Millionen auf 7,2 Millionen US-Dollar zurückgingen. Das Unternehmen verfügte zum 31. März 2025 über eine starke Cash-Position von 179,3 Millionen US-Dollar.
CEO Brian Wong hob die Fortschritte mit RPT904, ihrem Kandidaten zur Behandlung von Nahrungsmittelallergien, hervor und plant, in der zweiten Hälfte des Jahres 2025 eine Phase-2b-Studie zu starten. Das Unternehmen erwartet zudem noch in diesem Jahr klinische Daten zu RPT904 bei chronischer spontaner Urtikaria (CSU) von seinem Partner Jemincare.
- Net loss improved significantly from $30.5M to $17.2M year-over-year
- Strong cash position of $179.3M as of March 31, 2025
- R&D expenses decreased by 51.6% to $12.0M
- Phase 2b trial for RPT904 in food allergy planned for H2 2025
- Company continues to operate at a loss ($17.2M in Q1)
- G&A expenses remain relatively high at $7.2M for a clinical-stage company
Insights
RAPT shows 44% smaller loss, pivots resources to RPT904 with solid $179.3M cash position providing ~10 quarters runway.
RAPT Therapeutics delivered significant financial improvement in Q1 2025, with net loss narrowing 43.6% to
G&A expenses also improved marginally, falling
The financial restructuring reflects a calculated pivot toward RPT904 and early-stage programs, while reducing investment elsewhere. This focused approach enhances capital efficiency, particularly critical for clinical-stage biotechs navigating the current challenging funding environment. The substantial cash position provides sufficient runway to reach important clinical milestones that could potentially transform the company's valuation thesis if RPT904 demonstrates compelling efficacy in upcoming trials.
RAPT pivots to promising RPT904 for food allergies and CSU, deprioritizing other programs while advancing toward Phase 2b trial.
The strategic realignment toward RPT904 represents a significant reshaping of RAPT's clinical pipeline. The company is positioning RPT904 as a potential best-in-class therapy for food allergies, a condition affecting approximately 32 million Americans with limited effective treatment options beyond allergen avoidance and emergency medications.
The planned Phase 2b trial initiation in H2 2025 indicates confidence in RPT904's mechanism of action and preliminary clinical profile, though specific efficacy metrics aren't detailed in this release. Food allergies represent an enormous market opportunity with significant unmet needs – current desensitization approaches have limitations in efficacy, safety, and practicality.
Additionally, RAPT is expanding RPT904's potential through exploration in chronic spontaneous urticaria (CSU), a debilitating condition affecting 0.5-1% of the global population. The collaboration with Jemincare, with data expected later this year, provides external validation of RPT904's potential while sharing development costs. CSU represents another substantial market with limited effective treatment options for refractory patients.
The significant reduction in spending on zelnecirnon and tivumecirnon programs suggests a data-driven portfolio prioritization strategy. While the press release doesn't specify the rationale, such reprioritization typically follows careful assessment of clinical data, competitive landscape, and commercial potential. This focused approach aligns with industry best practices for optimizing resource allocation in clinical-stage companies.
SOUTH SAN FRANCISCO, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (Nasdaq: RAPT) (“RAPT” or the “Company”), a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing novel therapies for patients living with inflammatory and immunological diseases, today reported financial results for the first quarter ended March 31, 2025.
“The year is off to a great start. We believe RPT904 has the potential to be a best-in-class option to treat patients with food allergy and are making good progress toward our planned initiation of a Phase 2b trial in the second half of 2025,” said Brian Wong, President and CEO of RAPT. “We are also excited about RPT904's potential as a treatment for patients with chronic spontaneous urticaria (“CSU”) and look forward to clinical data later this year from our partner Jemincare to guide our development strategy in CSU.”
Financial Results for the First Quarter March 31, 2025
Net loss for the first quarter of 2025 was
Research and development expenses for the first quarter of 2025 were
General and administrative expenses for the first quarter of 2025 were
As of March 31, 2025, the Company had cash and cash equivalents and marketable securities of
About RAPT Therapeutics, Inc.
RAPT is a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing novel therapies for patients living with inflammatory and immunological diseases. Utilizing our deep and proprietary expertise in immunology, we develop novel therapies that are designed to modulate the critical immune responses underlying these diseases.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimates,” “expects,” “look forward,” “plans,” “potential” “will” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future performances or achievements expressed or implied by the forward-looking statements. Each of these statements is based only on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements about the therapeutic potential of RPT904, the timing of the initiation of or data from clinical trials, expectations concerning our partnership with Jemincare, the market opportunity for RPT904, and other statements that are not historical fact. Many factors may cause differences between current expectations and actual results, including unexpected or unfavorable safety or efficacy data observed during clinical studies, preliminary data and trends that may not be predictive of future data or results or that may not demonstrate safety or efficacy or lead to regulatory approval, our reliance on our partners and other third parties, clinical trial site activation or enrollment rates that are lower than expected, unanticipated or greater than anticipated impacts or delays due to macroeconomic and geopolitical conditions (including the long-term impacts of ongoing overseas conflicts, tariffs and trade tensions, fluctuations in inflation and interest rates and other economic uncertainty), changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process and the sufficiency of RAPT’s cash resources. Detailed information regarding risk factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025 and subsequent filings made by RAPT with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. RAPT disclaims any obligation to update these forward-looking statements, except as required by law.
RAPT Media Contact:
Aljanae Reynolds
areynolds@wheelhouselsa.com
RAPT Investor Contact:
Sylvia Wheeler
swheeler@wheelhouselsa.com
| RAPT THERAPEUTICS INC. STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except share per share data) (Unaudited) | ||||||||
| Three Months Ended March 31, | Three Months Ended March 31, | |||||||
| 2025 | 2024 | |||||||
| Operating expenses: | ||||||||
| Research and development | 12,042 | 24,781 | ||||||
| General and administrative | 7,223 | 7,737 | ||||||
| Total operating expenses | 19,265 | 32,518 | ||||||
| Loss from operations | (19,265 | ) | (32,518 | ) | ||||
| Other income, net | 2,100 | 1,997 | ||||||
| Net loss | $ | (17,165 | ) | $ | (30,521 | ) | ||
| Other comprehensive income (loss): | ||||||||
| Unrealized loss on marketable securities | (15 | ) | (113 | ) | ||||
| Total comprehensive loss | $ | (17,180 | ) | $ | (30,634 | ) | ||
| Net loss per share, basic and diluted | $ | (0.08 | ) | $ | (0.79 | ) | ||
| Weighted average number of shares used in computing net loss per share, basic and diluted | 215,410,253 | 38,625,365 | ||||||
| RAPT THERAPEUTICS, INC. BALANCE SHEETS (In thousands) | ||||||||
| March 31, 2025 | December 31, 2024 | |||||||
| Assets | (Unaudited) | (1) | ||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 60,257 | $ | 169,735 | ||||
| Marketable securities | 119,019 | 61,320 | ||||||
| Prepaid expenses and other current assets | 3,920 | 4,181 | ||||||
| Total current assets | 183,196 | 235,236 | ||||||
| Property and equipment, net | 1,158 | 1,367 | ||||||
| Operating lease right-of-use assets | 2,827 | 3,333 | ||||||
| Other assets | 389 | 389 | ||||||
| Total assets | $ | 187,570 | $ | 240,325 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,295 | $ | 1,275 | ||||
| Accrued expenses | 4,928 | 9,597 | ||||||
| License fees payable | — | 35,000 | ||||||
| Operating lease liabilities, current | 2,315 | 2,422 | ||||||
| Other current liabilities | 140 | 57 | ||||||
| Total current liabilities | 8,678 | 48,351 | ||||||
| Operating lease liabilities, non-current | 1,520 | 2,070 | ||||||
| Total liabilities | 10,198 | 50,421 | ||||||
| Commitments | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock | — | — | ||||||
| Common stock | 13 | 13 | ||||||
| Additional paid-in capital | 809,036 | 804,388 | ||||||
| Accumulated other comprehensive income | 35 | 50 | ||||||
| Accumulated deficit | (631,712 | ) | (614,547 | ) | ||||
| Total stockholders’ equity | 177,372 | 189,904 | ||||||
| Total liabilities and stockholders’ equity | $ | 187,570 | $ | 240,325 | ||||
| (1) | The balance sheet for December 31, 2024 has been derived from audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. |
FAQ
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When will RAPT Therapeutics start Phase 2b trials for RPT904?
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