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RAPT Therapeutics Reports Second Quarter 2025 Financial Results

1. RAPT reports a reduced net loss of $17.6 million in Q2 2025. 2. Research costs decreased significantly compared to Q2 2024, aiding financial stability. 3. RAPT plans to initiate a Phase 2b trial of RPT904 later this year. 4. Key leadership additions may enhance RAPT's strategic positioning and execution. 5. Jemincare is expected to report topline results for RPT904 in coming months.

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FAQ

Why Bullish?

The significant reduction in net loss and ongoing clinical developments provide positive indicators for investor confidence, reminiscent of past biotech surges tied to trial advancements.

How important is it?

Key financial improvements and promising pipeline updates greatly influence RAPT's investment attractiveness.

Why Short Term?

Upcoming Phase 2b trial initiation and partner results could drive immediate price action.

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August 07, 2025 08:00 ET  | Source: RAPT Therapeutics, Inc. SOUTH SAN FRANCISCO, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (Nasdaq: RAPT) (“RAPT” or the “Company”), a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing novel therapies for patients living with inflammatory and immunological diseases, today reported financial results for the second quarter and six months ended June 30, 2025. “The first half of 2025 has been productive, with several key achievements setting the stage for important catalysts anticipated in the second half of the year,” said Brian Wong, President and CEO of RAPT.  “We strengthened our team with the addition of Jessica Savage, an experienced drug developer in the food allergy space, and our board of directors with the appointments of industry veterans Drs. Scott Braunstein and Ashley Dombkowski. We have been focused on execution and as we enter the second half of the year we remain on track to initiate our Phase 2b trial of RPT904 in food allergy later this year. We also remain on track with our partner, Jemincare, to report topline results from Jemincare’s Phase 2 trials of RPT904 in CSU and asthma in the second half of this year. Lastly, we continue to advance our next-generation CCR4 pipeline and we see the diversity of our pipeline as a differentiating strength.” Financial Results for the Second Quarter and Six Months Ended June 30, 2025 Please note: All share amounts and per share amounts in this press release have been adjusted to reflect the 1-for-8 reverse split of the Company's common stock, effected on June 16, 2025. Second Quarter Ended June 30, 2025 Net loss for the second quarter of 2025 was $17.6 million, compared to $27.7 million for the second quarter of 2024. Research and development expenses for the second quarter of 2025 were $12.3 million, compared to $22.6 million for the second quarter of 2024. The decrease in research and development expenses was primarily due to decreases in costs related to development of zelnecirnon and tivumecirnon, personnel, lab supplies, non-cash stock-based compensation and facilities, partially offset by increases in costs related to development of RPT904 and early-stage programs. General and administrative expenses for the second quarter of 2025 were $7.2 million, compared to $6.7 million for the same period in 2024. The increase in general and administrative expenses was primarily due to increases in consulting costs and facilities costs. Six Months Ended June 30, 2025 Net loss for the six months ended June 30, 2025 was $34.8 million, compared to $58.2 million for the second quarter of 2024. Research and development expenses for the six months ended June 30, 2025 were $24.4 million, compared to $47.4 million for the same period in 2024. The decrease in research and development expenses was primarily due to decreases in costs related to development of zelnecirnon and tivumecirnon, personnel, lab supplies, non-cash stock-based compensation and facilities, partially offset by increases in costs related to development of RPT904 and early-stage programs. General and administrative expenses for each of the six months ended June 30, 2025 and 2024 were $14.4 million. General and administrative expenses were flat primarily due to decreased costs for personnel offset by increases in facilities costs. As of June 30, 2025, the Company had cash and cash equivalents and marketable securities of $168.9 million. About RAPT Therapeutics, Inc. RAPT is a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing novel therapies for patients living with inflammatory and immunological diseases. Utilizing our deep and proprietary expertise in immunology, we develop novel therapies that are designed to modulate the critical immune responses underlying these diseases. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimates,” “expects,” “look forward,” “plans,” “potential” “will” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future performances or achievements expressed or implied by the forward-looking statements. Each of these statements is based only on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements about the timing of the initiation of or data from clinical trials, expectations concerning our partnership with Jemincare, the development of our pipeline and other statements that are not historical fact. Many factors may cause differences between current expectations and actual results, including unexpected or unfavorable safety or efficacy data observed during clinical studies, preliminary data and trends that may not be predictive of future data or results or that may not demonstrate safety or efficacy or lead to regulatory approval, our reliance on our partners and other third parties, clinical trial site activation or enrollment rates that are lower than expected, unanticipated or greater than anticipated impacts or delays due to macroeconomic and geopolitical conditions (including the long-term impacts of ongoing overseas conflicts, tariffs and trade tensions, fluctuations in inflation and interest rates and other economic uncertainty), changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process and the sufficiency of RAPT’s cash resources. Detailed information regarding risk factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 7, 2025 and subsequent filings made by RAPT with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. RAPT disclaims any obligation to update these forward-looking statements, except as required by law. RAPT Media Contact:Aljanae Reynoldsareynolds@wheelhouselsa.com RAPT Investor Contact:Sylvia Wheelerswheeler@wheelhouselsa.com RAPT THERAPEUTICS INC.STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In thousands, except share per share data)(Unaudited)   Three Months EndedJune 30,  Three Months EndedJune 30,  Six Months EndedJune 30,  Six Months EndedJune 30,   2025  2024  2025  2024 Operating expenses:            Research and development $12,340  $22,640  $24,382  $47,421 General and administrative  7,195   6,690   14,418   14,427 Total operating expenses  19,535   29,330   38,800   61,848 Loss from operations  (19,535)  (29,330)  (38,800)  (61,848)Other income, net  1,892   1,667   3,992   3,664 Net loss $(17,643) $(27,663) $(34,808) $(58,184)Other comprehensive loss:            Unrealized loss on marketable securities  (19)  (37)  (34)  (150)Total comprehensive loss $(17,662) $(27,700) $(34,842) $(58,334)Net loss per share, basic and diluted $(0.65) $(5.69) $(1.29) $(12.01)Weighted average number of shares used in computing net loss per share, basic and diluted  26,949,752   4,858,345   26,938,008   4,843,527   RAPT THERAPEUTICS, INC.BALANCE SHEETS(In thousands)   June 30,2025  December 31,2024 Assets (Unaudited)  (1) Current assets:      Cash and cash equivalents $41,886  $169,735 Marketable securities  127,061   61,320 Prepaid expenses and other current assets  3,912   4,181 Total current assets  172,859   235,236 Property and equipment, net  970   1,367 Operating lease right-of-use assets  2,308   3,333 Other assets  2,273   389 Total assets $178,410  $240,325 Liabilities and stockholders’ equity      Current liabilities:      Accounts payable $4,189  $1,275 Accrued expenses  6,583   9,597 License fees payable  —   35,000 Operating lease liabilities, current  2,205   2,422 Other current liabilities  66   57 Total current liabilities  13,043   48,351 Operating lease liabilities, non-current  959   2,070 Total liabilities  14,002   50,421 Commitments      Stockholders’ equity:      Preferred stock  —   — Common stock  13   13 Additional paid-in capital  813,734   804,388 Accumulated other comprehensive income  16   50 Accumulated deficit  (649,355)  (614,547)Total stockholders’ equity  164,408   189,904 Total liabilities and stockholders’ equity $178,410  $240,325  (1)The balance sheet for December 31, 2024 has been derived from audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

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