Rapport Therapeutics, Inc. functions as a clinical-phase biopharmaceutical enterprise, concentrating its efforts on discovering and developing innovative small-molecule therapeutics for individuals living ...
Rapport Therapeutics is a clinical-stage biotechnology company headquartered at 99 High Street in Boston, Massachusetts. The company was formed in February 2022 with support from Third Rock Ventures and Johnson & Johnson Innovation-JJDC, initially under the name Precision Neuroscience NewCo, Inc., and adopted the Rapport Therapeutics name in October 2022. ...Rapport Therapeutics is a clinical-stage biotechnology company headquartered at 99 High Street in Boston, Massachusetts. The company was formed in February 2022 with support from Third Rock Ventures and Johnson & Johnson Innovation-JJDC, initially under the name Precision Neuroscience NewCo, Inc., and adopted the Rapport Therapeutics name in October 2022. Its shares began trading on the Nasdaq Global Market on June 7, 2024, under the symbol RAPP.
The company's business is centered on precision neuroscience. Rapport seeks to develop small-molecule therapeutics that modulate receptor-associated proteins, which may allow more selective control of neuronal signaling than broadly acting drugs. Its principal product candidate is RAP-219, an experimental molecule intended to selectively inhibit TARPy8-containing AMPA receptors with very high potency. The initial target indication is focal epilepsy, while the broader development rationale includes other neurological disorders such as peripheral neuropathic pain and bipolar disorder. Rapport's pipeline also includes RAP-199, another TARPy8-focused molecule with different chemical and pharmacokinetic characteristics. Additional discovery programs address nicotinic acetylcholine receptors, including an alpha-6 program for chronic pain and an alpha-9-alpha-10 program for hearing-related impairment.
As a clinical-stage biopharmaceutical company, Rapport's principal costs are research and development, clinical trial execution, regulatory activities, laboratory work, personnel, intellectual property, and outsourced manufacturing. The company does not operate like a conventional manufacturer with a finished-goods bill of materials; its product-development cost structure is instead driven by drug discovery, medicinal chemistry, preclinical testing, clinical supplies, contract research organizations, and contract development and manufacturing organizations. Commercial product revenue is not yet established, and the company is dependent on financing, strategic transactions, or eventual product commercialization to fund operations.
The supplied trailing financial indicators reflect an early-stage development profile: revenue is limited, profitability is negative, free cash flow is negative, and research and development spending is substantial relative to revenue. At the same time, the reported current ratio of approximately 15.7 and cash per share of approximately $9.19 indicate significant short-term liquidity in the referenced period, while debt remains low relative to assets and equity. These figures should be interpreted as time-specific and may change as clinical programs advance.
Abraham N. Ceesay has served as President and Chief Executive Officer since February 2023 and is also a member of the board. Rapport's principal opportunities are positive clinical data, regulatory progress, differentiation of its receptor-associated-protein approach, and successful development of RAP-219 and follow-on programs. Key risks include clinical failure, safety findings, delays, competition from existing or emerging neurological therapies, regulatory uncertainty, manufacturing challenges, dilution from future capital raises, and the need to secure sufficient funding before commercial revenues are generated.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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-100.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-111.5M
-42.4%
-185.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-88.1M
-31.0%
-215.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
2.4%
+390.3%
+4.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
26.17x
-25.9%
-42.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
