Financial Performance - Rapport Therapeutics reported a net loss of $26.9 million for Q3 2025, compared to a net loss of $17.5 million in the same period last year, representing a 53.4% increase in losses[12] - General and Administrative (G&A) expenses increased to $7.7 million in Q3 2025 from $6.1 million in Q3 2024, reflecting a 26.2% increase[17] - Net cash used in operating activities increased to $17.465 million in Q3 2025 from $16.415 million in Q3 2024[26] - Net cash used in investing activities rose to $56.776 million in Q3 2025 compared to $53.041 million in Q3 2024[26] - Net cash provided by financing activities significantly increased to $270.533 million in Q3 2025, contrasting with a cash outflow of $1.394 million in Q3 2024[26] - The net increase in cash, cash equivalents, and restricted cash was $196.292 million in Q3 2025, compared to a decrease of $70.850 million in Q3 2024[26] Research and Development - Research and Development (R&D) expenses for Q3 2025 were $22.3 million, up from $15.5 million in Q3 2024, indicating a 43.5% increase year-over-year[12] - The Phase 2a clinical trial of RAP-219 showed a 77.8% median reduction in clinical seizures, with 24% of patients achieving seizure freedom during the 8-week treatment period[6] - Approximately 85.2% of patients in the Phase 2a trial achieved a ≥30% reduction in long episodes of seizures compared to baseline, with a p-value of <0.0001[6] - The company expects to initiate two Phase 3 pivotal trials of RAP-219 in focal onset seizures in Q3 2026[11] - The Phase 2 trial of RAP-219 in bipolar mania is currently enrolling patients, with topline results expected in the first half of 2027[7] - The company plans to develop a long-acting injectable formulation of RAP-219, with initial pharmacokinetics results expected in 2027[11] Capital and Funding - The company completed a public offering in September 2025, raising approximately $269.4 million in net proceeds[9]
Rapport Therapeutics, Inc.(RAPP) - 2025 Q3 - Quarterly Results