Rapport Therapeutics advancing RAP-219 amid $20M Q4 loss

Grafa03-11

Rapport Therapeutics (NASDAQ:RAPP), a biotechnology company focused on neurological and psychiatric disorders, today released its fourth quarter and full-year 2024 financial results alongside a significant business update, highlighting promising clinical progress with its lead drug candidate, RAP-219.

The company announced that results from its positron emission tomography (PET) and second multiple ascending dose (MAD-2) trials support RAP-219's potential as a transformative treatment for epilepsy and other central nervous system (CNS) disorders.

Rapport Therapeutics is currently advancing RAP-219 in a Phase 2a trial for refractory focal epilepsy, with topline results anticipated in the third quarter of 2025.

Expanding its clinical pipeline, Rapport Therapeutics also revealed plans to initiate a Phase 2a trial of RAP-219 in patients with bipolar mania in the third quarter of 2025, with topline results expected in the first half of 2027.

Financially, the company reported a net loss of $20 million for the fourth quarter of 2024, compared to $13.5 million in the same period of the previous year.

The full-year 2024 net loss totaled $78.3 million, up from $34.8 million in 2023.

This increase is largely attributed to heightened research and development (R&D) expenses, which reached $17.2 million in the fourth quarter and $60.9 million for the full year.

Despite the increased spending, Rapport Therapeutics maintains a strong financial position, ending the fourth quarter with $305.3 million in cash, cash equivalents, and short-term investments.

The company projects that these funds will support its operating expenses and capital expenditures through the end of 2026.

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