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Mar 31, 2025
RAPT Q1 2025 Earnings Report
RAPT Therapeutics reported financial results for the first quarter ended March 31, 2025.
Key Takeaways
RAPT Therapeutics reported a significant decrease in net loss for the first quarter of 2025 compared to the same period in 2024, primarily driven by a reduction in research and development expenses.
Net loss for Q1 2025 was $17.2 million, a substantial improvement from the $30.5 million loss in Q1 2024.
Research and development expenses decreased significantly to $12.0 million in Q1 2025 from $24.8 million in Q1 2024.
General and administrative expenses also saw a slight decrease, falling to $7.2 million in Q1 2025 from $7.7 million in Q1 2024.
As of March 31, 2025, the company held $179.3 million in cash, cash equivalents, and marketable securities.
Forward Guidance
RAPT Therapeutics is focused on advancing its lead program, RPT904, with plans to initiate a Phase 2b trial in food allergy and expects clinical data from its partner Jemincare for RPT904 in chronic spontaneous urticaria.
Positive Outlook
- Planned initiation of a Phase 2b trial for RPT904 in food allergy in the second half of 2025.
- Expectation of clinical data from partner Jemincare for RPT904 in chronic spontaneous urticaria later in 2025.
- Belief that RPT904 has the potential to be a best-in-class treatment for food allergy.
- Excitement about RPT904's potential as a treatment for chronic spontaneous urticaria.
- Making good progress towards planned clinical trial initiation.
Challenges Ahead
- Potential for unexpected or unfavorable safety or efficacy data in clinical studies.
- Preliminary data and trends may not be predictive of future results or regulatory approval.
- Reliance on partners and other third parties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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