Rapport Therapeutics slips after $250 mln equity raise

Rapport Therapeutics

10/09/2025 11:28

** Rapport Therapeutics' RAPP.O shares down 2.5% to $27.34 before the bell after follow-on offering priced

    ** Co late Tues announced ~9.6 mln shares at $26 for $250 mln gross proceeds

    ** Offering price represents 7.2% discount to stock's last close

    **
    RAPP shares on Mon soared ~119% to close at $31.47 after its seizure drug, RAP-219, met mid-stage trial goals

    ** Its shares fell nearly 11% on Tues after co commenced the offering
    to primarily fund ongoing and planned clinical trials advancing RAP-219, other R&D and for working capital and other purposes, per the prospectus filing

    ** Goldman Sachs, Jefferies, TD Cowen and Stifel are joint bookrunners for the offering

    ** Boston-headquartered Rapport has ~36.5 mln shares outstanding for ~$1 bln current market cap

    ** Rapport, backed by Johnson & Johnson JNJ.N, went public in Jun 2024 after IPO priced at $17

    ** All 6 analysts are bullish on RAPP; median PT of $50 up from $35 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))