RAPT Therapeutics(US:RAPT)2024-11-12 13:03Financial Performance - Net loss for Q3 2024 was $18.4 million, a decrease of 41.4% compared to $31.4 million in Q3 2023[2] - Net loss for the nine months ended September 30, 2024, was $76.6 million, a reduction of 10.3% from $85.9 million for the same period in 2023[6] Research and Development Expenses - Research and development expenses for Q3 2024 were $13.3 million, down 50.7% from $27.0 million in Q3 2023[3] - Research and development expenses for the nine months ended September 30, 2024, totaled $60.8 million, down 18.1% from $74.2 million in the same period of 2023[7] General and Administrative Expenses - General and administrative expenses for Q3 2024 were $6.4 million, a slight decrease of 7.2% compared to $6.9 million in Q3 2023[4] - General and administrative expenses for the nine months ended September 30, 2024, increased to $20.9 million, up 6.7% from $19.6 million in the same period of 2023[8] Operating Expenses - Total operating expenses for Q3 2024 were $19.8 million, a decrease of 41.7% from $33.9 million in Q3 2023[11] Workforce Reduction - The company reduced its workforce by approximately 40%, affecting 47 employees, incurring $0.9 million in restructuring charges[5] Cash and Assets - As of September 30, 2024, the company had cash and cash equivalents and marketable securities totaling $97.9 million[8] - Total assets as of September 30, 2024, were $108.5 million, down from $173.3 million as of December 31, 2023[12]