RAPT Therapeutics slides after $250 mln stock offering

Rapt Therapeutics

22/10/2025 13:07

** Shares of RAPT Therapeutics RAPT.O down 4.9% before the bell to $31.89 after overnight $250 mln stock offering priced

** South San Francisco-based RAPT late Tues announced ~8.3 mln shares at $30, a 10.5% discount to last close

** On Mon, RAPT shares finished up nearly 15% at $33.67 after its drug, RPT904, to treat chronic spontaneous urticaria (CSU) showed comparable efficacy to Roche ROG.S and Novartis' NOVN.S drug in a mid-stage trial in China

** RAPT intends to use net offering proceeds to advance development of RPT904 in food allergies and CSU, to support other pipeline initiatives, per the prospectus

** Co has ~16.5 mln shares outstanding

** Leerink, TD Cowen, Guggenheim, Wells Fargo and LifeSci Capital are joint bookrunners for offering

** Through Tues close, RAPT shares had rallied 173% over the past three months

** Of 8 analysts covering RAPT, recommendation breakdown is 7 "strong buy" or "buy", 1 "hold" and median PT is $37, per LSEG data

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

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