Company research
Rapport Therapeutics, Inc.
CIK 2012593Updated Nov 6, 2026
SecurityRAPP · NASDAQ · equity
Name history
Rapport Therapeutics, Inc. · through Nov 4, 2026
RAPP price & chart
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NASDAQ:RAPP on TradingView ↗About the company
Rapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological and psychiatric disorders. The Company’s founders made pioneering discoveries related to the function of receptor associated proteins (RAPs) in the brain, which form the basis of Rapport’s RAP technology platform. The platform enables a differentiated approach to generate precision small molecule product candidates with the potential to overcome many limitations of conventional neurology drug discovery. Rapport’s precision neuroscience pipeline includes the Company’s lead investigational drug, RAP-219, which is designed to achieve neuroanatomical specificity through selective targeting of a RAP expressed only in discrete regions of the brain. The pipeline is anchored by the Company’s epilepsy portfolio, including FOS and primary generalized tonic-clonic seizures, as well as bipolar mania. The Company is also advancing additional discovery and preclinical programs leveraging its platform, including in chronic pain and migraine and in hearing and vestibular disorders.
In the news
Recent filings
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
4 filing
4 filing
Entry into a Material Definitive Agreement · Results of Operations and Financial Condition · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Unregistered Sales of Equity Securities
Items 1.01, 2.02, 2.03, 3.02, 9.01
Financials
FY 2025 · USDSource
Source
Source
Source
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| AssetsUSD | 535,323,000Source | 331,144,000Source | 458,982,000Source | 285,495,000Source | 346,098,000Source | 497,597,000Source | 302,053,000Source | — | 512,431,000Source | 314,933,000Source | 155,423,000Source |
| Property, Plant and Equipment, NetUSD | 3,116,000Source | 3,409,000Source | 2,337,000Source | 3,172,000Source | 3,474,000Source | 2,518,000Source | 3,404,000Source | — | 2,976,000Source | 3,529,000Source | 1,916,000Source |
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 251,359,000Source | 39,314,000Source | 63,612,000Source | 55,067,000Source | 110,164,000Source | 78,056,000Source | 57,604,000Source | 74,267,000Source | 52,645,000Source | 56,805,000Source | 70,169,000Source |
| Assets, CurrentUSD | 520,659,000Source | 325,939,000Source | 446,856,000Source | 270,242,000Source | 340,666,000Source | 484,695,000Source | 290,968,000Source | — | 498,561,000Source | 309,802,000Source | 150,872,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 7,528,000Source | 5,173,000Source | 10,381,000Source | 9,690,000Source | 4,422,000Source | 7,750,000Source | 5,481,000Source | — | 7,917,000Source | 4,417,000Source | 3,309,000Source |
| Operating Lease, Right-of-Use AssetUSD | 10,480,000Source | 1,607,000Source | 8,732,000Source | 11,047,000Source | 1,769,000Source | 9,327,000Source | 7,470,000Source | — | 9,909,000Source | 1,442,000Source | 2,084,000Source |
| Other Assets, NoncurrentUSD | 1,068,000Source | 189,000Source | 1,057,000Source | 1,034,000Source | 189,000Source | 1,057,000Source | 211,000Source | — | 985,000Source | 160,000Source | 551,000Source |
| LIABILITIES AND EQUITY | |||||||||||
| LiabilitiesUSD | 23,706,000Source | 8,030,000Source | 36,056,000Source | 21,983,000Source | 9,212,000Source | 26,085,000Source | 16,217,000Source | — | 27,778,000Source | 9,506,000Source | 14,479,000Source |
| Stockholders’ equity: | |||||||||||
| Preferred Stock, Value, IssuedUSD | 0Source | — | 0Source | 0Source | 0Source | 0Source | — | — | 0Source | — | — |
| Common Stock, Value, IssuedUSD | 48,000Source | 36,000Source | 48,000Source | 37,000Source | 36,000Source | 48,000Source | 37,000Source | — | 48,000Source | 37,000Source | 4,000Source |
| Retained Earnings (Accumulated Deficit)USD | -201,465,000Source | -103,765,000Source | -311,700,000Source | -174,540,000Source | -86,228,000Source | -255,085,000Source | -147,808,000Source | — | -235,228,000Source | -123,745,000Source | -45,438,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 145,000Source | 400,000Source | -1,270,000Source | -76,000Source | -183,000Source | -505,000Source | -95,000Source | — | 546,000Source | -522,000Source | 4,000Source |
| Stockholders' Equity Attributable to ParentUSD | 511,617,000Source | 323,114,000Source | 422,926,000Source | 263,512,000Source | -336,886,000Source | 471,512,000Source | 285,836,000Source | -39,633,000Source | 484,653,000Source | 305,427,000Source | -25,634,000Source |
| Additional Paid in Capital, Common StockUSD | 712,889,000Source | 426,443,000Source | 735,848,000Source | 438,091,000Source | 423,261,000Source | 727,054,000Source | 433,702,000Source | — | 719,287,000Source | 429,657,000Source | 19,796,000Source |
| Liabilities and EquityUSD | 535,323,000Source | 331,144,000Source | 458,982,000Source | 285,495,000Source | 346,098,000Source | 497,597,000Source | 302,053,000Source | — | 512,431,000Source | 314,933,000Source | 155,423,000Source |
| Current liabilities: | |||||||||||
| Liabilities, CurrentUSD | 14,316,000Source | 7,099,000Source | 28,424,000Source | 11,879,000Source | 8,095,000Source | 17,897,000Source | 9,383,000Source | — | 19,049,000Source | 8,767,000Source | 8,803,000Source |
| Operating Lease, Liability, CurrentUSD | 2,482,000Source | 720,000Source | 2,473,000Source | 1,759,000Source | 703,000Source | 2,615,000Source | 1,008,000Source | — | 2,755,000Source | 737,000Source | 670,000Source |
| Accounts Payable, CurrentUSD | 3,235,000Source | 1,323,000Source | 2,796,000Source | 3,176,000Source | 1,875,000Source | 6,561,000Source | 2,139,000Source | — | 4,190,000Source | 1,954,000Source | 2,502,000Source |
| Operating Lease, Liability, NoncurrentUSD | 9,390,000Source | 931,000Source | 7,632,000Source | 10,104,000Source | 1,117,000Source | 8,188,000Source | 6,834,000Source | — | 8,729,000Source | 739,000Source | 1,476,000Source |
| Additional Financial Items | |||||||||||
| Accrued Liabilities, CurrentUSD | 8,599,000Source | 5,056,000Source | 23,155,000Source | 6,944,000Source | 5,517,000Source | 8,721,000Source | 6,236,000Source | — | 12,104,000Source | 6,076,000Source | 5,631,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | 513,000,000Source | 320,700,000Source | — | 260,400,000Source | 336,100,000Source | 476,800,000Source | 285,400,000Source | — | 490,500,000Source | 305,300,000Source | — |
| Short-term InvestmentsUSD | 261,667,000Source | 281,347,000Source | 372,465,000Source | 205,380,000Source | 225,975,000Source | 398,726,000Source | 227,778,000Source | — | 437,894,000Source | 248,475,000Source | 77,309,000Source |
| Accounts Receivable, after Allowance for Credit Loss, Current | — | — | —Source | — | — | —Source | — | — | — | — | — |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | -19,857,000Source | -24,063,000Source | -111,483,000Source | -78,307,000Source | -34,786,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 227,000Source | 244,000Source | 1,017,000Source | 839,000Source | 112,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 6,963,000Source | 4,040,000Source | 18,855,000Source | 10,235,000Source | 3,525,000Source |
| Changes in operating assets and liabilities: | |||||||||||
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | — | — | 2,305,000Source | 185,000Source | 2,215,000Source | -346,000Source | 856,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -13,061,000Source | -20,237,000Source | -87,473,000Source | -64,828,000Source | -27,181,000Source |
| Cash flows from investing activities: | |||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 37,941,000Source | 21,031,000Source | -187,473,000Source | -170,141,000Source | -78,860,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | 86,000Source | 291,000Source | 616,000Source | 2,405,000Source | 1,636,000Source |
| Cash flows from financing activities: | |||||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 531,000Source | 5,000Source | 270,786,000Source | 221,625,000Source | 145,136,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | 25,411,000Source | 799,000Source | -4,160,000Source | -13,344,000Source | 39,095,000Source |
| Additional Financial Items | |||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | 4,735,000Source | 3,182,000Source | 7,202,000Source | 4,389,000Source | 6,963,000Source | 4,040,000Source | 18,855,000Source | 10,235,000Source | 3,525,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | — | 513,000,000Source | 320,700,000Source | — | 260,400,000Source | 476,800,000Source | 285,400,000Source | 490,500,000Source | 305,300,000Source | — |
| DepreciationUSD | — | — | — | — | — | — | 200,000Source | 200,000Source | 1,000,000Source | 800,000Source | 100,000Source |
| General and Administrative ExpenseUSD | — | — | 7,707,000Source | 6,097,000Source | — | 6,816,000Source | — | 7,536,000Source | 30,310,000Source | 22,120,000Source | 8,180,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 0Source | 0Source | 10,000Source |
| Investment Income, InterestUSD | — | — | 3,061,000Source | 4,103,000Source | 4,191,000Source | 2,764,000Source | 4,358,000Source | 3,045,000Source | 13,616,000Source | 12,138,000Source | 2,527,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -26,925,000Source | -17,537,000Source | -56,615,000Source | -26,732,000Source | -19,857,000Source | -24,063,000Source | -111,483,000Source | -78,307,000Source | -34,786,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -26,925,000Source | -17,537,000Source | -56,615,000Source | -26,732,000Source | -19,857,000Source | -24,063,000Source | -111,483,000Source | -78,307,000Source | -34,786,000Source |
| Nonoperating Income (Expense)USD | — | — | 3,061,000Source | 4,103,000Source | 4,191,000Source | 2,764,000Source | 4,358,000Source | 3,045,000Source | 13,616,000Source | 4,748,000Source | 1,403,000Source |
| Operating ExpensesUSD | — | — | 29,986,000Source | 21,640,000Source | 60,806,000Source | 29,496,000Source | 44,215,000Source | 27,108,000Source | 125,099,000Source | 83,055,000Source | 36,179,000Source |
| Payments of Financing CostsUSD | — | — | — | — | — | — | 273,000Source | 0Source | — | — | 134,000Source |
| Payments to Acquire InvestmentsUSD | — | — | — | — | — | — | 30,370,000Source | 43,235,000Source | 354,784,000Source | 377,532,000Source | 77,224,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | — | — | — | — | — | 54,000Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | 809,000Source | 6,000Source | 1,348,000Source | 7,000Source | — |
| Increase (Decrease) in Accounts Receivable | — | — | — | — | — | — | —Source | —Source | — | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (Loss)USD | — | — | -29,986,000Source | -21,640,000Source | -60,806,000Source | -29,496,000Source | -24,215,000Source | -27,108,000Source | -125,099,000Source | -83,055,000Source | -36,179,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | — | -17,537,000Source | — | — | — | — | — | -78,307,000Source | -34,776,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 0Source | 0Source | 10,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -26,925,000Source | -17,537,000Source | -56,615,000Source | -26,732,000Source | -19,857,000Source | -24,063,000Source | -111,483,000Source | -78,307,000Source | -34,786,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -0.71Source | -0.5Source | -1.19Source | -0.75Source | -0.42Source | -0.68Source | -2.86Source | -3.78Source | -23.1Source |
| Earnings Per Share, DilutedUSD per share | — | — | -0.71Source | -0.5Source | -1.19Source | -0.75Source | -0.42Source | -0.68Source | -2.86Source | -3.78Source | -23.1Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 37,931,170Source | 34,855,907Source | 47,473,174Source | 35,444,635Source | 47,236,618Source | 35,266,577Source | 38,934,569Source | 20,738,338Source | 1,505,774Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 37,931,170Source | 34,855,907Source | 47,473,174Source | 35,444,635Source | 47,236,618Source | 35,266,577Source | 38,934,569Source | 20,738,338Source | 1,505,774Source |
| Additional Financial Items | |||||||||||
| General and Administrative ExpenseUSD | — | — | 7,707,000Source | 6,097,000Source | — | 6,816,000Source | — | 7,536,000Source | 30,310,000Source | 22,120,000Source | 8,180,000Source |
| Investment Income, InterestUSD | — | — | 3,061,000Source | 4,103,000Source | 4,191,000Source | 2,764,000Source | 4,358,000Source | 3,045,000Source | 13,616,000Source | 12,138,000Source | 2,527,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -26,925,000Source | -17,537,000Source | -56,615,000Source | -26,732,000Source | -19,857,000Source | -24,063,000Source | -111,483,000Source | -78,307,000Source | -34,786,000Source |
| Nonoperating Income (Expense)USD | — | — | 3,061,000Source | 4,103,000Source | 4,191,000Source | 2,764,000Source | 4,358,000Source | 3,045,000Source | 13,616,000Source | 4,748,000Source | 1,403,000Source |
| Operating ExpensesUSD | — | — | 29,986,000Source | 21,640,000Source | 60,806,000Source | 29,496,000Source | 44,215,000Source | 27,108,000Source | 125,099,000Source | 83,055,000Source | 36,179,000Source |
| Research and Development ExpenseUSD | — | — | 22,279,000Source | 15,543,000Source | 51,414,000Source | 22,680,000Source | 32,716,000Source | 19,572,000Source | 94,789,000Source | 60,935,000Source | 27,999,000Source |
| Total Revenue | — | — | — | — | —Source | —Source | —Source | —Source | — | — | — |
| Selling, General and Administrative Expense | — | — | — | — | —Source | —Source | —Source | —Source | — | — | — |
Offerings
Registration 333-294170
Filing attachments
rapp-ex99_1.htm · 8-K · 2026-11-04
Exhibit 99.1 Rapport Therapeutics Reports Third Quarter 2026 Financials and Provides Business Update Positive topline results from Phase 2 trial of RAP-219 in bipolar mania; initiation of two Phase 3 trials in bipolar mania expected in 2H 2027 Data from the Phase 2 FOS open-label long-term safety trial expected in 4Q 2026; Phase 3 FOS trials enrolling patients Well-capitalized with $815.4 million1 in cash and cash equivalents as of November 3, 2026, and runway through the end of 2029 BOSTON…
Read attachment ↗d49801dex41.htm · 8-K · 2026-10-30
Exhibit 4.1 Rapport Therapeutics, Inc. (the “Issuer”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commissions (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website…
Read attachment ↗d49801dex42.htm · 8-K · 2026-10-30
Exhibit 4.2 Execution Version RAPPORT THERAPEUTICS, INC., Issuer AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Trustee INDENTURE Dated as of October 30, 2026 Senior Debt Securities TABLE OF CONTENTS 1 Page ARTICLE 1 DEFINITIONS …
Read attachment ↗d49801dex43.htm · 8-K · 2026-10-30
Exhibit 4.3 Execution Version RAPPORT THERAPEUTICS, INC. AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee FIRST SUPPLEMENTAL INDENTURE Dated as of October 30, 2026 2.25% Convertible Senior Notes due 2032 TABLE OF CONTENTS PAGE ARTICLE 1 DEFINITIONS; RULES OF CONSTRUCTION; SCOPE AND INTERPRETATION OF BASE INDENTURE Section 1.01. Definitions …
Read attachment ↗d185134dex991.htm · 8-K · 2026-10-20
Exhibit 99.1 Rapport Therapeutics Announces Positive Topline Results from its Phase 2 Trial of RAP-219 for the Treatment of Bipolar Mania The trial met the primary and secondary endpoints with statistically significant placebo-adjusted improvements at Week 3 in the YMRS total score (3.1 points; p=0.045) and CGI-BP Severity of Mania score (0.4 points; p=0.024) RAP-219 - treated patients had a 15.4-point mean reduction in YMRS total score from baseline at Week 3 All 11 items measured by the YM…
Read attachment ↗d185134dex992.htm · 8-K · 2026-10-20
Exhibit 99.2 R RAP AP--2 21 19 9 P Ph ha ase se 2 2 iin n B Biip pol ola ar r M Ma an niia a T Top oplliin ne e R Re esul sult ts s Webcast Presentation OCTOBER 20, 2026 Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. The words anticipate, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, should, targe…
Read attachment ↗