Rapport Therapeutics, Inc. RAPP
We are a clinical-stage biotechnology company dedicated to the discovery and development of small molecule precision medicines for patients with neurological or psychiatric disorders. Our foundational science has elucidated the complexities of neuronal receptor biology and enables us to map and target certain neuronal receptor complexes. Neuronal receptors are complex assemblies of proteins, comprising receptor principal subunits and their receptor associated proteins ("RAPs"), the latter of which play crucial roles in regulating receptor expression and function. We believe that our deep expertise in RAP biology provides an opportunity for us to interrogate previously inaccessible targets and develop neurological and psychiatric drugs that are specific for receptor variants and neuroanatomical regions associated with certain diseases. Most neuroactive drugs lack this specificity, often resulting in undesired and intolerable side effects. Leveraging our expertise, we are developing a portfolio of precision product candidates that we believe has the potential to transform the standard of care of many neurological and psychiatric disorders.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| R&D | $94.8M | $60.9M | $28.0M | — |
| SG&A | $30.3M | $22.1M | $8.2M | — |
| Total operating expenses | $125.1M | $83.1M | $36.2M | — |
| Operating income | -$125.1M | -$83.1M | -$36.2M | — |
| Pre-tax income | -$111.5M | -$78.3M | -$34.8M | — |
| Income tax | $0 | $0 | $10.0K | — |
| Net income | -$111.5M | -$78.3M | -$34.8M | — |
| EPS, basic | -2.86 | -3.78 | -23.10 | — |
| EPS, diluted | -2.86 | -3.78 | -23.10 | — |
| Shares, diluted (wtd. avg.) | 38.9M | 20.7M | 1.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $52.6M | $56.8M | $70.2M | — |
| Short-term investments | $437.9M | $248.5M | $77.3M | — |
| Total current assets | $498.6M | $309.8M | $150.9M | — |
| Property, plant and equipment | $3.0M | $3.5M | $1.9M | — |
| Total assets | $512.4M | $314.9M | $155.4M | — |
| Accounts payable | $4.2M | $2.0M | $2.5M | — |
| Total current liabilities | $19.0M | $8.8M | $8.8M | — |
| Total liabilities | $27.8M | $9.5M | $14.5M | — |
| Retained earnings | -$235.2M | -$123.7M | -$45.4M | — |
| Total equity | $484.7M | $305.4M | -$25.6M | -$10.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$87.5M | -$64.8M | -$27.2M | — |
| Depreciation and amortisation | $1.0M | $839.0K | $112.0K | — |
| Stock-based compensation | $18.9M | $10.2M | $3.5M | — |
| Capital expenditure | $616.0K | $2.4M | $1.6M | — |
| Investing cash flow | -$187.5M | -$170.1M | -$78.9M | — |
| Financing cash flow | $270.8M | $221.6M | $145.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-099360.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Net income | — | -$34.8M | -$78.3M | -$111.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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