Core Insights - Rapport Therapeutics reported positive Phase 2a results for RAP-219, indicating a potential best-in-class profile for treating drug-resistant focal onset seizures with a nearly 78% median reduction in clinical seizures and seizure freedom in nearly 24% of patients [2][5] - The company has a strong financial position with approximately $269.4 million in net proceeds from a recent public offering, ending the quarter with $513.0 million in cash, which is expected to fund operations into the second half of 2029 [4][11] Business Highlights - The Phase 2a clinical trial of RAP-219 met its primary endpoints with high statistical significance, showing 85.2% of patients achieving a ≥30% reduction in long episodes [5] - The company plans to initiate two Phase 3 pivotal trials of RAP-219 in focal onset seizures in Q3 2026 and expects topline results from the bipolar mania trial in the first half of 2027 [4][6] - An open-label long-term safety trial for patients from the Phase 2a trial is planned to begin by the end of 2025 [5] Financial Results - For Q3 2025, the company reported a net loss of $26.9 million, compared to a net loss of $17.5 million in the same period last year [11] - Research and Development (R&D) expenses increased to $22.3 million from $15.5 million year-over-year, driven by clinical development costs [11] - General and Administrative (G&A) expenses rose to $7.7 million from $6.1 million, reflecting business growth [11] Cash Position - The company ended Q3 2025 with $513.0 million in cash, cash equivalents, and short-term investments, a significant increase from $260.4 million as of June 30, 2025 [11] - The cash runway is expected to support operations and capital expenditures into the second half of 2029 [11]
Rapport Therapeutics Reports Third Quarter 2025 Financials and Provides Business Update