Group 1 - RAPT Therapeutics Inc. has been identified as a promising investment opportunity with significant upside potential, as indicated by Wells Fargo raising its price target from $38 to $48 while maintaining an Overweight rating [1] - The efficacy of RAPT's anti-IgE antibody therapy (RPT904) is reported to be comparable or superior to XOLAIR, particularly in the treatment of Chronic Spontaneous Urticaria, with dosing every 12 weeks [1][2] - RAPT's therapy targets multiple food allergies and is expected to perform well in the market due to its similar epitope to XOLAIR, which could lead to substantial sales even at competitive pricing [2] Group 2 - RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on developing oral small-molecule therapies for oncology and inflammatory diseases, addressing unmet medical needs in the US [3]

Core Points - RAPT Therapeutics, Inc. announced a public offering of 8,333,334 shares of common stock priced at $30.00 per share, with expected gross proceeds of approximately $250 million [1] - The offering includes a 30-day option for underwriters to purchase an additional 1,250,000 shares at the public offering price [1] - The offering is expected to close on or about October 23, 2025, subject to customary closing conditions [1] Company Overview - RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases [5] - The company utilizes proprietary expertise in immunology to create novel therapies aimed at modulating immune responses [5] Offering Details - The offering is conducted under a shelf registration statement filed with the SEC, which was declared effective on August 17, 2023 [3] - Joint bookrunning managers for the offering include Leerink Partners, TD Cowen, Guggenheim Securities, Wells Fargo Securities, and LifeSci Capital [2]

Core Points - RAPT Therapeutics, Inc. has initiated an underwritten public offering of its common stock, with an option for underwriters to purchase an additional 15% of the total shares offered [1] - The offering is subject to market conditions and there is no assurance regarding its completion or the actual size and terms [1] - The offering is made under a shelf registration statement filed with the SEC, which was declared effective on August 17, 2023 [3] Company Overview - RAPT is a clinical-stage immunology-based biopharmaceutical company focused on developing novel therapies for inflammatory and immunological diseases [5] - The company utilizes proprietary expertise in immunology to create therapies aimed at modulating critical immune responses [5] Offering Details - Joint bookrunning managers for the offering include Leerink Partners, TD Cowen, Guggenheim Securities, Wells Fargo Securities, and LifeSci Capital [2] - Lead managers for the offering are H.C. Wainwright & Co. and Clear Street [2] - A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on their website [3]

Core Insights - The article emphasizes the importance of enabling Javascript and cookies in browsers to prevent access issues [1] Group 1 - The article suggests that users may face blocks if they have an ad-blocker enabled [1]

Core Points - The company held a conference call to discuss a press release and accompanying slides available on its website [1] - Key executives present included the CEO, Chief Medical Officer, Chief Financial Officer, and a special guest from a medical research institute [2] - The call included forward-looking statements that are subject to risks and uncertainties, with a reminder to review risk factors in the latest quarterly report [3]

Summary of RAPT Therapeutics Conference Call (October 20, 2025) Company Overview - **Company**: RAPT Therapeutics (NasdaqGM:RAPT) - **Focus**: Development of innovative therapies for chronic spontaneous urticaria (CSU) and other IgE-driven disorders Key Points from the Call Industry and Product Development - **Product**: RPT-nine zero four (also known as JYB-nineteen oh four) - **Indication**: Chronic spontaneous urticaria (CSU) - **Clinical Trial**: Phase II trial conducted in China, comparing RPT-nine zero four to omalizumab - **Results**: Top line data showed RPT-nine zero four demonstrated comparable efficacy to omalizumab with potential for superior durability and less frequent dosing [5][6][7][10][38] Efficacy and Safety Data - **Efficacy**: - RPT-nine zero four showed a 22.1 improvement in UAS7 at week twelve compared to 18.5 for omalizumab [21] - At week sixteen, RPT-nine zero four arms showed improvements of 23.2 and 22.2, while omalizumab showed 19.1 [21] - Complete response (UAS7=0) at week twelve was 37% and 39% for RPT-nine zero four compared to 24.4% for omalizumab [23] - **Safety**: - No serious adverse events or anaphylaxis reported [24] - Treatment emergent adverse events were similar across groups, indicating a favorable safety profile [24] Competitive Landscape - **Current Standard of Care**: Omalizumab, which requires monthly dosing and has limitations in durability and convenience [10][11] - **Market Research**: Survey of allergists indicated that the advantages of RPT-nine zero four would likely drive it to become the preferred treatment option for CSU patients [13] Future Development Plans - **Phase III Trials**: Plans to engage with regulatory authorities to discuss registrational pathways for RPT-nine zero four in CSU [8][39] - **Food Allergy Trials**: Anticipated initiation of Phase IIb trial for food allergies before the end of the year, with top line data expected in 2027 [39][40] - **Asthma Trials**: Smaller Phase II study in moderate to severe asthma expected to read out data by the end of the year [42] Market Potential - **Market Opportunity**: RPT-nine zero four is positioned to address unmet needs in CSU and food allergies, with a focus on less frequent dosing and broader efficacy in patients who are ineligible for omalizumab [39][40] Regulatory Considerations - **FDA Discussions**: Plans to discuss data with the FDA to align on Phase III study designs, with confidence in the translatability of data from Asian populations to Western populations [117] Expert Commentary - **Dr. Ana Maria Jimenez Arnaud**: Highlighted the unmet need for effective treatments in CSU and the potential of RPT-nine zero four to improve patient compliance due to less frequent dosing [28][32][34] Conclusion RAPT Therapeutics is advancing RPT-nine zero four as a promising treatment for CSU, demonstrating comparable efficacy to the current standard of care, omalizumab, with a favorable safety profile and potential for improved patient adherence through less frequent dosing. The company is preparing for Phase III trials and exploring additional indications, including food allergies and asthma.

THE SCIENCE TO OVERCOME INFLAMMATION Phase 2 Topline Results of RPT904 (JYB1904) in Chronic Spontaneous Urticaria OCTOBER 20, 2025 Disclaimer Statements in this Presentation that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding the development of RPT904, including the expected timing of clinical trials and the availability of data therefrom; expectations regarding regulatory interactions; the therapeutic a ...

Core Insights - RAPT Therapeutics and Shanghai Jeyou Pharmaceutical announced positive topline data from a Phase 2 trial of RPT904 for chronic spontaneous urticaria, showing comparable efficacy and safety to omalizumab [1][4][5] Study Design and Results - The Phase 2 study enrolled 137 adult patients with chronic spontaneous urticaria inadequately controlled by H1 antihistamines, randomized into three arms: RPT904 Q8W, RPT904 Q12W, and omalizumab Q4W [2] - The primary endpoint was the change in the seven-day urticaria activity score (UAS7) at Weeks 8, 12, and 16, with key secondary endpoints including the proportion of patients achieving UAS7=0 [2] - RPT904 demonstrated numerically greater improvements in UAS7 scores and a higher proportion of patients achieving UAS7=0 compared to omalizumab at all time points [3] Efficacy Data - Mean baseline UAS7 scores were similar across treatment arms, with RPT904 Q8W showing a least squares mean change from baseline of -20.51 at Week 8, -22.14 at Week 12, and -23.20 at Week 16 [3] - The proportion of patients with UAS7=0 at Week 16 was 45.65% for RPT904 Q8W and 43.48% for Q12W, compared to 33.33% for omalizumab [3] Safety Profile - RPT904 was well tolerated, with no serious adverse events related to the study drug and no treatment-related discontinuations [3][4] Future Development Plans - Jeyou plans to advance RPT904 to Phase 3 development in China, while RAPT will discuss the Phase 3 development path with the FDA [4][5] - RAPT also aims to initiate a Phase 2b trial in food allergies by the end of the year [5] Background Information - Chronic spontaneous urticaria is characterized by sudden onset hives and intense itch, with a need for therapies targeting the underlying IgE-autoantibody pathology [7] - RPT904 is a novel anti-IgE monoclonal antibody designed to provide extended pharmacokinetics compared to omalizumab, targeting the same epitope [8]

Core Insights - RAPT Therapeutics, Inc. plans to report topline data from the Phase 2 clinical trial of RPT904 in patients with Chronic Spontaneous Urticaria (CSU) on October 20, 2025 [1] - The clinical trial is conducted in partnership with Shanghai Jeyou Pharmaceutical Co., Ltd. [1] Company Overview - RAPT Therapeutics is a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing, and commercializing novel therapies for inflammatory and immunological diseases [3] - The company utilizes proprietary expertise in immunology to develop therapies aimed at modulating critical immune responses underlying these diseases [3] Event Details - A webcast conference call will be hosted by RAPT on October 20, 2025, at 8:30 a.m. ET, which will include a slide presentation [2] - Participants can join the conference call via phone after pre-registering online [2]

Core Insights - RAPT Therapeutics, Inc. plans to report topline data from the Phase 2 clinical trial of RPT904 in patients with Chronic Spontaneous Urticaria (CSU) on October 20, 2025 [1] - The clinical trial is conducted in partnership with Shanghai Jeyou Pharmaceutical Co., Ltd. [1] Company Overview - RAPT Therapeutics is a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing, and commercializing novel therapies for inflammatory and immunological diseases [3] - The company utilizes proprietary expertise in immunology to develop therapies aimed at modulating critical immune responses underlying these diseases [3] Event Details - A webcast conference call will be hosted by RAPT on October 20, 2025, at 8:30 a.m. ET, which will include a slide presentation [2] - Participants can join the conference call via phone after pre-registering online to receive a unique passcode [2]