Rapt Therapeutics reports Q2 EPS (62c), consensus (75c) » 08:0708/1108/11/22
Reports Q2 revenue…
Reports Q2 revenue $886,000, consensus $280,000. "Our operational momentum continued in the second quarter as we initiated our Phase 2b clinical trial of RPT193 in patients with moderate-to-severe atopic dermatitis and strengthened our balance sheet with a $50 million financing," said Brian Wong, M.D., Ph.D., President and Chief Executive Officer of RAPT Therapeutics. "As we head into the second half of the year, we expect to broaden the RPT193 program with the initiation of a Phase 2a trial in asthma and to continue advancing our FLX475 program in multiple cancer indications. We anticipate our pipeline of promising oral drugs will provide a number of significant data catalysts over the next 12 to 18 months."
|Over a month ago|
Rapt Therapeutics files to sell 4.0M shares of common stock for holders 08:5406/2406/24/22
Rapt Therapeutics announces private placement financing of $50M » 08:1405/2505/25/22
RAPT Therapeutics announced a $50 million private investment in public equity financing from the sale of pre-funded warrants to purchase up to 4 million shares of its common stock at a price per pre-funded warrant of $12.4999 to Redmile Group, based on the closing price per share of RAPT on May 24, 2022. Gross proceeds from the PIPE financing total approximately $50 million, before deducting offering expenses. The closing of the PIPE financing is subject to customary closing conditions and is expected to close on May 27, 2022.
Rapt Therapeutics announces private placement financing of $50M » 08:0305/2505/25/22
RAPT Therapeutics announced a $50M private investment in public equity financing from the sale of pre-funded warrants to purchase up to 4 million shares of its common stock at a price per pre-funded warrant of $12.4999 to Redmile Group, based on the closing price per share of RAPT on May 24, 2022.
Rapt Therapeutics assumed with an Overweight at Cantor Fitzgerald » 06:5205/2405/24/22
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Prakhar Agrawal assumed coverage of Rapt Therapeutics with an Overweight rating with a price target of $44, down from $58. RPT193, Rapt's lead inflammation drug, could be a $3B+ drug just in the Atopic Dermatitis indication, Agrawal tells investors in a research note, with the analyst's conviction driven by the firm's comprehensive review of phase 1 efficacy, which was remarkably strong in the more severe sub-group and looks very competitive to Dupixent and JAKs. Based on the firm's estimates, the current stock price seems to be pricing in only ~$700M-$800M in peak annual revenue across all assets, Agrawal contends.
Rapt Therapeutics announces initiation of Phase 2b trial of RPT193 » 08:1405/2305/23/22
RAPT Therapeutics announced it has initiated its 16-week randomized, double-blind, placebo-controlled Phase 2b clinical trial to further evaluate the efficacy and safety of RPT193 as monotherapy in patients with moderate-to-severe atopic dermatitis, AD. "We are excited to advance RPT193 into this Phase 2b trial in atopic dermatitis," said Brian Wong, M.D., Ph.D., President and CEO of RAPT. "Our Phase 1b trial results support the potential of RPT193 as a safe, once-daily, oral treatment for AD that would be an attractive therapeutic alternative ahead of injectable drugs. Moreover, the clinical results were supported by our recently reported biomarker data. We are encouraged by the potential of RPT193 for patients with AD and other inflammatory diseases and we plan to expand development of RPT193 into a Phase 2a trial in asthma in the second half of this year."
|Over a quarter ago|
Rapt Therapeutics price target lowered to $30 from $52 at Piper Sandler » 07:1605/1205/12/22
Piper Sandler analyst…
Piper Sandler analyst Edward Tenthoff lowered the firm's price target on Rapt Therapeutics to $30 from $52 and keeps an Overweight rating on the shares post the Q1 results. The analyst cites current market conditions for the target drop.
Rapt Therapeutics reports Q1 EPS (69c), consensus (68c) » 08:0305/1105/11/22
Reports Q1 revenue…
Reports Q1 revenue $641,000, consensus $220,000.
Rapt Therapeutics expands leadership team with multiple hires » 08:2005/0405/04/22
RAPT, XENT, TVTX
RAPT Therapeutics (RAPT)…
RAPT Therapeutics (RAPT) announced the appointments of Gwen Carscadden as Chief Human Resources Officer, Jim Farmer as Vice President of Clinical Operations and Shari Geffon as Vice President of Program and Alliance Management. Carscadden most recently served as chief people officer at Intersect ENT (XENT). Farmer most recently served as senior director of clinical development strategy and operations at Travere Therapeutics (TVTX). Geffon most recently served as chief operating officer at Renegade.bio.
Rapt Therapeutics announces biomarket data from Phase 1b trial of RPT193 » 08:0603/2803/28/22
RAPT Therapeutics announced biomarker data from the company's randomized placebo-controlled Phase 1b clinical trial of RPT193 in patients with moderate-to-severe atopic dermatitis, AD, were consistent with previously reported top-line data which showed clear improvement in key exploratory efficacy measures. The biomarker data showed patients treated with RPT193 experienced a statistically significant improvement in the meta-analysis derived atopic dermatitis, MADAD, score, a well-established gene signature that tracks with disease severity. Additionally, administration of RPT193 resulted in improvements in immune pathways known to be dysregulated in AD, such as Th2, Th22 and Th1. These biomarker data were derived from biopsies taken from the lesional and non-lesional skin of patients enrolled in the Phase 1b trial. Brian Wong, M.D., Ph.D., President and CEO of RAPT, added, "We thank Dr. Guttman and her lab for the rigorous evaluation of patient samples from our Phase 1b trial of RPT193 in atopic dermatitis. These data are supportive of the unique mechanism of RPT193 that resulted in impressive reductions in disease severity, both during treatment and after dosing cessation in the trial. We look forward to initiating our Phase 2b clinical trial in atopic dermatitis and to expanding our exploration of RPT193 in a Phase 2a trial in asthma."