Rapt Therapeutics Inc ( (RAPT) ) has released its Q4 earnings. Here is a breakdown of the information Rapt Therapeutics Inc presented to its investors.
RAPT Therapeutics, Inc. is a clinical-stage biopharmaceutical company specializing in the development of novel therapies for inflammatory and immunological diseases, leveraging its proprietary expertise in immunology to address critical immune responses.
In its latest earnings report, RAPT Therapeutics highlighted its focus for 2025 on advancing the development of RPT904, a promising treatment for food allergy and chronic spontaneous urticaria. The company plans to initiate a Phase 2b clinical trial for RPT904 in the second half of 2025, with expectations of receiving clinical data from its partner, Jemincare, later in the year to guide its development strategy.
Financially, RAPT reported a net loss of $53.2 million for the fourth quarter of 2024, an increase from $30.9 million in the same period of 2023. This was largely due to a $35.0 million upfront license fee for RPT904. Research and development expenses rose to $46.5 million, while general and administrative expenses increased to $8.0 million. For the full year, the net loss was $129.9 million, compared to $116.8 million in 2023, with R&D expenses at $107.2 million and G&A expenses at $28.9 million.
Strategically, RAPT entered into a license agreement with Shanghai Jemincare Pharmaceutical Co., Ltd., securing exclusive rights to RPT904 outside of certain Asian territories. This agreement involved a $35.0 million upfront payment and potential future milestone and royalty payments. Additionally, RAPT raised $143.0 million through a private placement of common stock and pre-funded warrants.
Looking ahead, RAPT Therapeutics remains committed to advancing its pipeline, particularly RPT904, with a focus on addressing unmet medical needs in inflammatory and immunological diseases. The company’s financial position, bolstered by recent fundraising, supports its ongoing research and development efforts.