Loading...
•
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...