Core Insights - RAPT Therapeutics has appointed Scott Braunstein, M.D., and Ashley Dombkowski, Ph.D., to its board of directors, enhancing its leadership team during a critical phase of development [1][2] - The company's lead product candidate, RPT904, is a monoclonal antibody targeting free human immunoglobulin E (IgE) and is currently in Phase 2 trials for chronic spontaneous urticaria and asthma, with plans to initiate a Phase 2 trial for food allergy later this year [1][2] Company Overview - RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases, leveraging proprietary expertise in immunology [5] Leadership Experience - Scott Braunstein, M.D., has over 30 years of experience in the biotechnology and pharmaceutical industries, including roles at Aisling Capital and Marinus Pharmaceuticals, and has served on multiple boards [3] - Ashley Dombkowski, Ph.D., brings over 20 years of experience as an executive and investor, previously serving as CEO of Cellics Therapeutics and co-founding several companies focused on food allergy treatments [4]

Core Viewpoint - Rapt Therapeutics (RAPT) shares have seen a 1.7% increase over the past four weeks, closing at $7.84, with analysts suggesting a potential upside of 282.7% based on a mean price target of $30 [1] Price Targets and Estimates - The average price target for RAPT ranges from a low of $8.00 to a high of $48.00, with a standard deviation of $21.04, indicating variability in analyst estimates [2] - The lowest estimate suggests a 2% increase from the current price, while the highest estimate indicates a potential upside of 512.2% [2] - Analysts' consensus on price targets is often questioned, as they may not accurately reflect future stock prices [3][7] Earnings Estimates and Analyst Agreement - Analysts are optimistic about RAPT's earnings prospects, with a consensus indicating better-than-previously estimated earnings [4][11] - Over the last 30 days, one earnings estimate has increased, leading to a 22.6% rise in the Zacks Consensus Estimate for the current year [12] - RAPT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Conclusion on Price Movement - While the consensus price target may not be a reliable indicator of RAPT's potential gains, the direction implied by these targets appears to be a useful guide for investors [14]

Core Viewpoint - RAPT Therapeutics, Inc. announced a 1-for-8 reverse stock split effective June 16, 2025, aimed at consolidating its outstanding shares to potentially enhance its stock price and market perception [1][2]. Company Overview - RAPT Therapeutics, Inc. is a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing, and commercializing novel therapies for patients with inflammatory and immunological diseases [5]. Reverse Stock Split Details - The reverse stock split will reduce the number of issued and outstanding shares from approximately 132.3 million to approximately 16.5 million [4]. - The reverse stock split will be effective at 11:59 pm Eastern Time on June 16, 2025, with trading on a reverse stock split-adjusted basis starting June 17, 2025 [1][2]. - Every eight issued and outstanding shares will be combined into one share without changing the par value per share, and fractional shares will not be issued [3]. - Stockholders entitled to fractional shares will receive a cash payment instead [3]. - The total number of authorized shares will remain at 500 million, but the number available for future issuance will increase [3]. Impact on Stockholders - The reverse stock split will affect all stockholders uniformly and will not alter their relative interest in the company's equity securities, except for adjustments related to fractional shares [3].

Financial Data and Key Metrics Changes - The company has successfully raised capital and is fully funded through key data readouts into 2027, indicating strong financial health [6] - The company is focused on late-stage development in allergic diseases, particularly with the acquisition of RPT-904, which is expected to drive future revenue growth [4][5] Business Line Data and Key Metrics Changes - The acquisition of RPT-904, a next-generation anti-IgE therapy, positions the company to address significant unmet needs in food allergies and chronic spontaneous urticaria (CSU) [4][5] - The company plans to initiate a Phase 2b study in food allergy, which is expected to take about 18 months to read out [5] Market Data and Key Metrics Changes - There are approximately 17 million Americans diagnosed with food allergies, with over 4 million classified as severe, representing a substantial market opportunity [33] - The company estimates that around 40% of the target addressable population would be willing to undergo treatment, translating to nearly 2 million potential patients [34] Company Strategy and Development Direction - The company is focused on developing RPT-904 for food allergies and CSU, with plans for a broad label to capture a wide patient population [21][41] - The strategy includes leveraging the extended half-life of RPT-904 to improve patient compliance and reduce healthcare burdens, which is attractive to payers [17][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to translate clinical data from China to the U.S. market, citing similarities in patient populations and dosing tables [16][54] - The management highlighted the high unmet need in the food allergy market, with over 50,000 patients currently using Xolair, indicating a significant opportunity for RPT-904 [89] Other Important Information - The company is also exploring the development of a next-generation CCR4 antagonist, which remains a priority despite previous clinical challenges [81][87] - The company is considering partnerships for commercialization, especially for larger indications in allergic diseases [76] Q&A Session Summary Question: What attracted the company to RPT-904? - The company believes RPT-904 is a best-in-class molecule with a better half-life and potency compared to existing therapies like Xolair [8][10] Question: How does RPT-904 compare to Xolair? - RPT-904 has a longer half-life and is expected to allow for less frequent dosing, which could improve patient compliance [11][73] Question: What is the target population for RPT-904? - The company aims to capture a broad label, including patients who are currently off-label for Xolair due to high IgE levels or weight [22][24] Question: What are the key parameters for the Phase 2 trial? - The trial will follow a double-blind placebo-controlled food challenge study design, focusing on multiple allergens [25][31] Question: How does the company plan to address the pediatric population? - The company plans to include children as young as four years old in the Phase 3 study, pending discussions with the FDA [35][36] Question: What is the competitive landscape for CSU and food allergy? - The company sees itself well-positioned against competitors like Omalizumab and emerging therapies, particularly due to its unique dosing regimen and ability to treat excluded patients [68][71][73]

Core Viewpoint - Rapt Therapeutics has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system focuses on changes in earnings estimates, which have a strong correlation with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to institutional investors adjusting their valuations, resulting in stock price movements [4]. Company Performance Indicators - For the fiscal year ending December 2025, Rapt Therapeutics is projected to earn -$0.49 per share, reflecting an 84.6% change from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Rapt Therapeutics has increased by 64%, indicating a positive outlook for the company's earnings [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of generating significant returns for top-ranked stocks [7][9]. - Rapt Therapeutics' upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements for Q1 2025 show a reduced net loss of **$17.2 million** and decreased total assets, primarily due to lower R&D expenses and cash used in operations [Condensed Balance Sheets](index=3&type=section&id=Condensed%20Balance%20Sheets) Total assets decreased to **$187.6 million** by March 31, 2025, from **$240.3 million** at year-end 2024, mainly due to reduced cash and a **$35.0 million** license fee payment Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $60,257 | $169,735 | | Marketable securities | $119,019 | $61,320 | | Total current assets | $183,196 | $235,236 | | Total assets | $187,570 | $240,325 | | **Liabilities & Equity** | | | | License fees payable | $0 | $35,000 | | Total current liabilities | $8,678 | $48,351 | | Total liabilities | $10,198 | $50,421 | | Total stockholders' equity | $177,372 | $189,904 | [Condensed Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a net loss of **$17.2 million** for Q1 2025, a significant reduction from **$30.5 million** in Q1 2024, driven by lower R&D expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | 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) | | Net loss | ($17,165) | ($30,521) | | Net loss per share, basic and diluted | ($0.08) | ($0.79) | [Condensed Statements of Cash Flows](index=6&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$52.4 million** in Q1 2025, primarily due to a **$35.0 million** license fee payment, resulting in a **$109.5 million** net decrease in cash Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($52,414) | ($27,084) | | Net cash (used in) provided by investing activities | ($57,064) | $15,887 | | Net cash provided by financing activities | $0 | $9,036 | | **Net decrease in cash and cash equivalents** | **($109,478)** | **($2,161)** | [Notes to Condensed Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) Notes detail business, liquidity, and accounting policies, highlighting the cessation of the zelnecirnon program, focus on RPT904, and **$179.3 million** in cash deemed sufficient for 12 months - The company's lead drug candidate is RPT904 for allergic diseases, and its oncology candidate is tivumecirnon, while development of zelnecirnon for inflammatory disease ceased in November 2024[23](index=23&type=chunk) - Management believes current cash, cash equivalents, and marketable securities totaling **$179.3 million** are sufficient to fund operations for at least 12 months from the 10-Q filing date[24](index=24&type=chunk)[25](index=25&type=chunk) - In November 2024, the company repriced **3.9 million** stock options, resulting in **$1.6 million** of incremental stock-based compensation expense to be recognized over vesting and retention periods[53](index=53&type=chunk)[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the strategic shift to RPT904 and tivumecirnon after discontinuing zelnecirnon, noting a **$17.2 million** Q1 2025 loss, **51%** lower R&D, and sufficient liquidity for 12 months [Overview](index=16&type=section&id=Overview) RAPT is a clinical-stage biopharmaceutical company focused on inflammatory and immunological diseases, with lead candidate RPT904 and oncology candidate tivumecirnon, following the cessation of the zelnecirnon program - The lead drug candidate is RPT904, a monoclonal antibody designed to bind free IgE for allergic diseases, licensed from Jemincare in December 2024[60](index=60&type=chunk)[61](index=61&type=chunk) - The oncology candidate, tivumecirnon, a CCR4 antagonist, is partnered with Hanmi for development in Korea and Greater China, with RAPT seeking a partner for other territories[62](index=62&type=chunk) - Development of zelnecirnon ceased in November 2024 following a clinical hold by the FDA in February 2024 due to a serious adverse event of liver failure in a patient[63](index=63&type=chunk) [Results of Operations](index=20&type=section&id=Results%20of%20Operations) Total operating expenses decreased **41%** to **$19.3 million** in Q1 2025, primarily driven by a **51%** reduction in R&D expenses due to the zelnecirnon program termination Comparison of Operations (in thousands) | Expense Category | Q1 2025 | Q1 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $12,042 | $24,781 | ($12,739) | (51)% | | General and administrative | $7,223 | $7,737 | ($514) | (7)% | | **Total operating expenses** | **$19,265** | **$32,518** | **($13,253)** | **(41)%** | External R&D Expenses by Program (in thousands) | Program | Q1 2025 | Q1 2024 | $ Change | | :--- | :--- | :--- | :--- | | RPT904 | $1,063 | $0 | $1,063 | | Zelnecirnon | $188 | $7,841 | ($7,653) | | Tivumecirnon | $1,272 | $2,157 | ($884) | - The primary driver for the **$12.8 million** decrease in R&D expenses was the reduction in development costs for zelnecirnon (**$7.7 million**) and associated personnel costs (**$3.6 million**)[81](index=81&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held **$179.3 million** in cash and equivalents, sufficient for 12 months, but anticipates needing substantial additional capital for future development - As of March 31, 2025, the company had **$179.3 million** in cash, cash equivalents, and marketable securities[85](index=85&type=chunk) - The company believes its current cash position is sufficient to fund operations for at least the next 12 months from the filing date[86](index=86&type=chunk) - Future capital requirements depend on numerous factors, including the progress of clinical trials, manufacturing costs, and potential licensing activities[87](index=87&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," RAPT Therapeutics, Inc. is exempt from providing quantitative and qualitative disclosures about market risk - The company is not required to provide quantitative and qualitative disclosures about market risk because it qualifies as a "smaller reporting company"[99](index=99&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes in internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[100](index=100&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[101](index=101&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings that would materially adversely affect its financial condition or operations - Management believes there are currently no pending claims or actions that would have a material adverse effect on the company's results of operations, financial condition, or cash flows[103](index=103&type=chunk) [Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) The company faces extensive risks, including potential drug candidate failure, significant financial losses, reliance on third-party manufacturing, intense competition, and evolving data privacy regulations - The company's drug candidates may fail or suffer delays in clinical development, as exemplified by the zelnecirnon program's cessation in 2024 due to a serious adverse event, with no guarantee other candidates will not face similar issues[107](index=107&type=chunk)[108](index=108&type=chunk) - The company has a history of net losses (**$631.7 million** accumulated deficit as of March 31, 2025) and expects to incur significant losses for the foreseeable future, requiring substantial additional funding to continue operations[114](index=114&type=chunk)[130](index=130&type=chunk) - RAPT relies on third parties for manufacturing and supply, including a sole source (Jemincare) for the initial supply of RPT904, which exposes the company to supply chain risks[141](index=141&type=chunk)[149](index=149&type=chunk) - The business is subject to stringent and evolving data privacy and security laws (e.g., GDPR, HIPAA, state laws), and any failure to comply could result in significant penalties, litigation, and reputational harm[251](index=251&type=chunk)[253](index=253&type=chunk)[254](index=254&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=85&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds during the reporting period - None[298](index=298&type=chunk) [Defaults Upon Senior Securities](index=85&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[299](index=299&type=chunk) [Mine Safety Disclosures](index=85&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item regarding mine safety disclosures is not applicable to the company's operations - Not applicable[300](index=300&type=chunk) [Other Information](index=87&type=section&id=Item%205.%20Other%20Information) There is no other material information to report for the period - None[303](index=303&type=chunk) [Exhibits](index=88&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, such as the Inducement Plan, related agreement forms, and officer certifications, with some documents incorporated by reference - Exhibits filed with this report include the company's Inducement Plan and officer certifications (31.1, 31.2, 32.1)[305](index=305&type=chunk)

[Business Highlights](index=1&type=section&id=Business%20Highlights) RAPT Therapeutics reported positive progress on its lead candidate, RPT904, with plans to initiate a Phase 2b trial for food allergies in the second half of 2025, while also anticipating clinical data from its partner, Jemincare, for RPT904 in chronic spontaneous urticaria (CSU) later in the year to inform future development strategies - The company is advancing its RPT904 program, with plans to initiate a **Phase 2b trial** for food allergy treatment in the second half of 2025[3](index=3&type=chunk) - RAPT is awaiting clinical data from its partner Jemincare for RPT904's potential as a treatment for **chronic spontaneous urticaria (CSU)**, expected later in 2025[3](index=3&type=chunk) [Financial Results Summary (Q1 2025)](index=1&type=section&id=Financial%20Results%20for%20the%20First%20Quarter%20March%2031%2C%202025) For the first quarter of 2025, RAPT significantly narrowed its net loss to $17.2 million from $30.5 million in the prior-year period, primarily driven by a substantial decrease in research and development expenses, while maintaining a solid cash position of $179.3 million in cash, cash equivalents, and marketable securities Q1 2025 vs Q1 2024 Key Financials | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Loss | $17.2 million | $30.5 million | | Research and Development Expenses | $12.0 million | $24.8 million | | General and Administrative Expenses | $7.2 million | $7.7 million | - The reduction in R&D expenses was mainly due to decreased costs related to the development of zelnecirnon and tivumecirnon, partially offset by increased investment in RPT904 and early-stage programs[5](index=5&type=chunk) - As of March 31, 2025, the company had cash, cash equivalents, and marketable securities totaling **$179.3 million**[7](index=7&type=chunk) [Detailed Financial Statements](index=3&type=section&id=Detailed%20Financial%20Statements) This section provides the unaudited Statements of Operations for the first quarter of 2025 and the Balance Sheets as of March 31, 2025, detailing the components of the company's operating expenses, net loss, assets, liabilities, and stockholders' equity [Statements of Operations and Comprehensive Loss](index=3&type=section&id=STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) For the three months ended March 31, 2025, RAPT reported a net loss of $17.2 million, or ($0.08) per share, a significant improvement from a net loss of $30.5 million, or ($0.79) per share, in the same period of 2024, driven by lower total operating expenses which fell to $19.3 million from $32.5 million year-over-year Statements of Operations (Unaudited, in thousands) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | 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)** | | **Net loss per share, basic and diluted** | **($0.08)** | **($0.79)** | [Balance Sheets](index=4&type=section&id=BALANCE%20SHEETS) As of March 31, 2025, RAPT's balance sheet showed total assets of $187.6 million, compared to $240.3 million at the end of 2024, with total liabilities decreasing significantly to $10.2 million from $50.4 million primarily due to the settlement of license fees payable, resulting in total stockholders' equity of $177.4 million Balance Sheet Highlights (Unaudited, in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $60,257 | $169,735 | | Marketable securities | $119,019 | $61,320 | | **Total assets** | **$187,570** | **$240,325** | | **Liabilities and Stockholders' Equity** | | | | Total current liabilities | $8,678 | $48,351 | | **Total liabilities** | **$10,198** | **$50,421** | | **Total stockholders' equity** | **$177,372** | **$189,904** | [About RAPT Therapeutics, Inc.](index=1&type=section&id=About%20RAPT%20Therapeutics%2C%20Inc.) RAPT Therapeutics is a clinical-stage biopharmaceutical company that leverages its deep expertise in immunology to discover and develop novel therapies, focusing on modulating critical immune responses to treat patients with inflammatory and immunological diseases - RAPT is a clinical-stage immunology-based biopharmaceutical company focused on developing novel therapies for inflammatory and immunological diseases[8](index=8&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This section cautions investors that the press release contains forward-looking statements regarding the potential of RPT904, clinical trial timelines, and partnership expectations, highlighting that actual results could differ materially due to various risks including unfavorable clinical data, reliance on partners, macroeconomic conditions, and regulatory uncertainties - The report includes forward-looking statements concerning the therapeutic potential of RPT904, clinical trial timing, and partnership with Jemincare[9](index=9&type=chunk) - Key risks that could cause actual results to differ include unexpected safety or efficacy data, reliance on third parties, clinical trial enrollment rates, macroeconomic impacts, and the regulatory approval process[9](index=9&type=chunk)

Core Viewpoint - RAPT Therapeutics reported a significant reduction in net loss for Q1 2025 compared to Q1 2024, alongside a focus on advancing its lead candidate RPT904 for food allergies and chronic spontaneous urticaria [3][4][5]. Financial Performance - The net loss for Q1 2025 was $17.2 million, a decrease from $30.5 million in Q1 2024 [3]. - Research and development expenses were $12.0 million in Q1 2025, down from $24.8 million in the same period of 2024, primarily due to reduced costs associated with other drug developments [4]. - General and administrative expenses decreased to $7.2 million in Q1 2025 from $7.7 million in Q1 2024, attributed to lower personnel and professional service costs [5]. - As of March 31, 2025, the company had cash and cash equivalents and marketable securities totaling $179.3 million [5]. Company Overview - RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases, leveraging proprietary expertise in immunology [6].

Company Overview - RAPT Therapeutics, Inc. is a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing, and commercializing novel therapies for patients with inflammatory and immunological diseases [4] Key Appointment - Jessica Savage, M.D., M.H.S., has been appointed as Vice President of Clinical Development to oversee the development of RPT904, a novel monoclonal antibody targeting free human immunoglobulin E (IgE) [1][2] - Dr. Savage brings extensive experience in food allergy and allergic diseases, having held significant roles in clinical development at prestigious institutions and companies [3] Product Development - RAPT plans to advance RPT904 into a Phase 2b clinical trial for food allergy in the second half of 2025, aiming to generate data that differentiates RPT904 as a therapeutic option [2] - The initial focus for RPT904 will be on food allergy and chronic spontaneous urticaria (CSU), addressing a significant unmet need in these areas [1][2] Expertise and Background of Dr. Savage - Dr. Savage has a strong background in clinical development, having worked on global programs and held faculty positions at Harvard Medical School and Johns Hopkins University [3] - Her previous roles include Senior Medical Director at Alexion, where she led clinical development strategies for various conditions, showcasing her capability to drive RPT904's development [3]

Core Insights - RAPT Therapeutics has appointed Dr. Jessica Savage as Vice President of Clinical Development to lead the development of RPT904, a monoclonal antibody targeting free human immunoglobulin E (IgE) for allergic diseases [1][2] - The company plans to initiate a Phase 2b clinical trial for RPT904 in food allergy in the second half of 2025, aiming to address a significant unmet need in this area [2][3] Company Overview - RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases, leveraging proprietary expertise in immunology [4] Leadership and Expertise - Dr. Jessica Savage brings extensive experience in clinical development, particularly in food allergy, having held significant roles at prestigious institutions and companies [3] - Her previous experience includes leading clinical development strategies for various therapies at Alexion and contributing to multiple New Drug Applications (NDAs) at other pharmaceutical companies [3]