Core Insights - Rapport Therapeutics is focused on developing small molecule precision medicines for neurological and psychiatric disorders, with significant progress expected in 2025 [1][14] Business Highlights - The Phase 2a trial for RAP-219 in refractory focal epilepsy is on track, with topline results anticipated in Q3 2025 [4] - The Phase 2a trial for RAP-219 in bipolar mania is set to begin in Q3 2025, with topline results expected in the first half of 2027 [6] - The company ended Q1 2025 with $285.4 million in cash and equivalents, sufficient to fund operations through the end of 2026 [4][17] Clinical Development - Recent PET trial results validate the neuroanatomical specificity of TARPγ8 and the tolerability profile of RAP-219, enhancing confidence in its potential [2][5] - RAP-219 demonstrated receptor occupancy levels associated with maximal seizure protection within five days of dosing in human trials [5] - Favorable tolerability was reported across four Phase 1 trials, with no serious adverse events noted [5] Financial Results - The net loss for Q1 2025 was $24.1 million, compared to $22.7 million in the same period last year [11] - Research and Development expenses increased to $19.6 million in Q1 2025 from $12.5 million in the prior year, driven by clinical development costs [11] - General and Administrative expenses rose to $7.5 million in Q1 2025 from $4.6 million in the previous year, reflecting business growth and public company operational costs [11] Future Plans - The company plans to host its inaugural Investor and Analyst Day on June 2, 2025, featuring key presentations [11] - An update on the timeline for the Phase 2a trial in Diabetic Peripheral Neuropathic Pain (DPNP) is expected in 2025, following a clinical hold by the FDA [7]
Rapport Therapeutics Reports First Quarter 2025 Financials and Provides Business Update