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Sep 30, 2023
RAPT Q3 2023 Earnings Report
RAPT Therapeutics reported financial results for Q3 2023, with a strong cash position maintained.
Key Takeaways
RAPT Therapeutics reported a net loss of $31.4 million for the third quarter of 2023. Research and development expenses were $27.0 million, and general and administrative expenses were $6.9 million. The company's cash, cash equivalents, and marketable securities totaled $184.8 million as of September 30, 2023, expected to support operations through mid-2025.
Progress continued with zelnecirnon in inflammatory diseases and tivumecirnon in oncology.
Top-line data from the Phase 2b trial of zelnecirnon in atopic dermatitis is expected in mid-2024.
Enrollment is progressing well in the Phase 2a trial of zelnecirnon in asthma.
Phase 2 data for tivumecirnon in combination with pembrolizumab in checkpoint-naïve non-small cell lung cancer was presented at SITC.
RAPT
RAPT
Forward Guidance
RAPT Therapeutics anticipates continued clinical development progress and expects its current cash balance to support planned operations through mid-2025.
Positive Outlook
- Anticipated reporting of top-line data from Phase 2b trial of zelnecirnon in atopic dermatitis in mid-2024.
- Good progress in enrolling Phase 2a trial in asthma.
- Strong cash balance expected to support planned operations through mid-2025.
- Advancement of zelnecirnon in inflammatory diseases.
- Advancement of tivumecirnon in oncology.
Challenges Ahead
- Unexpected or unfavorable safety or efficacy data during clinical studies.
- Lower than expected enrollment in Phase 2b clinical trial of zelnecirnon in AD.
- Unanticipated or greater than anticipated impacts or delays due to macroeconomic conditions.
- Changes in expected or existing competition.
- Uncertainties and timing of the regulatory approval process.