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Rapport Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
RAPPRapport Therapeutics, Inc.(RAPP) GlobeNewswire·2025-03-11 11:00

Core Viewpoint - Rapport Therapeutics is advancing its lead program RAP-219, targeting neurological and psychiatric disorders, with significant clinical milestones expected in the near future [2][4]. Business Highlights - The Phase 2a trial of RAP-219 for refractory focal epilepsy is progressing well, with topline results anticipated in Q3 2025 [2][4]. - A Phase 2a trial for bipolar mania is expected to start in Q3 2025, with results projected in the first half of 2027 [6]. - The company appointed Dr. Jeffrey Sevigny as Chief Medical Officer, bringing extensive experience in drug development [8]. - As of December 31, 2024, the company reported 305.3millionincashandequivalents,sufficienttofundoperationsthroughtheendof2026[4][12].ClinicalDevelopment−RecentPETandMAD−2trialresultssupportRAP−219′spotentialfortreatingCNSdisorders,demonstratingneuroanatomicalspecificityandfavorabletolerability[5][10].−ThecompanyisfinalizingplansforaPhase2atrialindiabeticperipheralneuropathicpainafterreceivingfeedbackfromtheFDA[7].FinancialResults−ForQ42024,thenetlosswas305.3 million in cash and equivalents, sufficient to fund operations through the end of 2026 [4][12]. Clinical Development - Recent PET and MAD-2 trial results support RAP-219's potential for treating CNS disorders, demonstrating neuroanatomical specificity and favorable tolerability [5][10]. - The company is finalizing plans for a Phase 2a trial in diabetic peripheral neuropathic pain after receiving feedback from the FDA [7]. Financial Results - For Q4 2024, the net loss was 20.0 million, compared to 13.5millioninthesameperiodofthepreviousyear[11].−ResearchandDevelopmentexpensesincreasedto13.5 million in the same period of the previous year [11]. - Research and Development expenses increased to 17.2 million in Q4 2024 from 11.8millioninQ42023,reflectinghigheroperationalcosts[11].−GeneralandAdministrativeexpensesroseto11.8 million in Q4 2023, reflecting higher operational costs [11]. - General and Administrative expenses rose to 6.3 million in Q4 2024 from 3.0millioninQ42023,drivenbybusinessgrowthandpubliccompanyrequirements[11].CashPosition−ThecompanyendedQ42024with3.0 million in Q4 2023, driven by business growth and public company requirements [11]. Cash Position - The company ended Q4 2024 with 305.3 million in cash, down from $320.7 million at the end of Q3 2024, primarily due to operating cash outflows [11][12].