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Jun 30, 2024
RAPT Q2 2024 Earnings Report
RAPT Therapeutics reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
RAPT Therapeutics reported a net loss of $27.7 million for the second quarter of 2024, compared to a net loss of $25.3 million for the same period in 2023. Research and development expenses increased to $22.6 million, while general and administrative expenses remained relatively unchanged at $6.7 million.
Net loss for the second quarter of 2024 was $27.7 million.
Research and development expenses for the second quarter of 2024 were $22.6 million.
General and administrative expenses for the second quarter of 2024 were $6.7 million.
As of June 30, 2024, the Company had cash and cash equivalents and marketable securities of $114.8 million.
Forward Guidance
The Company estimates that it will incur approximately $0.9 million in restructuring charges in connection with the workforce reduction and expects that the execution of the workforce reduction and the majority of the cash payments related to the restructuring will be substantially completed by the end of the third quarter of 2024.
Historical Earnings Impact
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