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Sep 30, 2024
RAPT Q3 2024 Earnings Report
RAPT Therapeutics reported financial results for the third quarter of 2024.
Key Takeaways
RAPT Therapeutics reported a net loss of $18.4 million for the third quarter of 2024, compared to a net loss of $31.4 million for the same period in 2023. Research and development expenses decreased due to lower development costs, while general and administrative expenses also saw a decrease. A workforce reduction was implemented to conserve cash resources.
Net loss for Q3 2024 was $18.4 million, a decrease from $31.4 million in Q3 2023.
Research and development expenses decreased to $13.3 million, compared to $27.0 million in the same period in 2023.
General and administrative expenses decreased to $6.4 million, compared to $6.9 million for the same period in 2023.
The company implemented a workforce reduction affecting approximately 40% of its headcount.
Forward Guidance
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Detailed information regarding risk factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2024 and subsequent filings made by RAPT with the Securities and Exchange Commission.
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