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RAPT

RAPT Therapeutics, Inc.

RAPT

RAPT Therapeutics, Inc. • NASDAQ
$33.80 ▲ 1.62% (+0.54)
Market Cap $558.97 M
52w High $42.39
52w Low $5.66
Dividend Yield 0%
P/E -2.9
Volume 353.05K
Outstanding Shares 16.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $19.371M ▲ $-17.58M ▲ 0% $-0.65 ▲ $-17.375M ▲
Q2-2025 $0 $19.335M ▲ $-17.643M ▼ 0% $-0.655 ▼ $-17.443M ▲
Q1-2025 $0 $19.265M ▼ $-17.165M ▲ 0% $-0.637 ▲ $-19.013M ▲
Q4-2024 $0 $54.465M ▲ $-53.249M ▼ 0% $-9.124 ▼ $-54.178M ▼
Q3-2024 $0 $19.788M $-18.432M 0% $-3.79 $-19.491M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $157.344M ▼ $165.739M ▼ $13.762M ▼ $151.977M ▼
Q2-2025 $168.947M ▼ $178.41M ▼ $14.002M ▲ $164.408M ▼
Q1-2025 $179.276M ▼ $187.57M ▼ $10.198M ▼ $177.372M ▼
Q4-2024 $231.055M ▲ $240.325M ▲ $50.421M ▲ $189.904M ▲
Q3-2024 $97.905M $108.465M $12.959M $95.506M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-17.58M ▲ $-12.458M ▼ $8.466M ▲ $36K ▼ $-3.956M ▲ $-12.458M ▼
Q2-2025 $-17.643M ▼ $-11.271M ▲ $-7.261M ▲ $161K ▲ $-18.371M ▲ $-11.311M ▲
Q1-2025 $-17.165M ▲ $-52.414M ▼ $-57.064M ▼ $0 ▼ $-109.478M ▼ $-52.457M ▼
Q4-2024 $-53.249M ▼ $-10.437M ▲ $-843K ▼ $143.115M ▲ $131.835M ▲ $-10.438M ▲
Q3-2024 $-18.432M $-17.622M $18.445M $0 $823K $-17.639M

Five-Year Company Overview

Income Statement

Income Statement RAPT is still a pure development‑stage biotech: it has essentially no product revenue and has been funding research through losses. Operating and net losses have been steady to slightly larger over time as clinical programs advanced, which is typical for a company moving deeper into the clinic. Per‑share losses have also grown, reflecting both higher spending and share count effects. Overall, the income statement shows a company firmly in the investment phase with no commercial offset yet for its R&D and overhead costs.

Balance Sheet

Balance Sheet The balance sheet shows a cash‑rich but asset‑light profile, which is common for early‑stage biotechs. Cash has increased meaningfully in the most recent year, giving the company more financial breathing room, while total assets and shareholders’ equity both remain positive. Debt is minimal, so the capital structure is largely equity‑funded. The main risk is not current leverage but the finite nature of the cash pool versus future trial costs and the potential need for further funding down the road.

Cash Flow

Cash Flow RAPT consistently uses cash in its operations, reflecting ongoing clinical and research spending without revenue coming in. Operating and free cash flow are both negative and closely matched, since capital spending is negligible; nearly all cash use is tied to running the business and trials, not building physical assets. The trend shows a controlled but persistent cash burn, which underscores the importance of managing trial pace, partnering, or raising additional capital over time.

Competitive Edge

Competitive Edge RAPT operates in a crowded and high‑stakes immunology and oncology space, but it has carved out a focused niche. Its main strengths are: a targeted approach to CCR4 biology, the convenience of oral agents in cancer, and a differentiated anti‑IgE antibody for allergy with potentially more convenient dosing. Collaboration around tivumecirnon with a major checkpoint inhibitor brand adds some external validation. On the other hand, the loss of its prior inflammatory CCR4 program after a safety issue is a competitive and reputational setback, and larger pharma and biotech players are active across both oncology and allergy, keeping competitive pressure high.

Innovation and R&D

Innovation and R&D Innovation is the core of RAPT’s story. The company’s discovery engine has produced multiple clinical‑stage programs, showing it can repeatedly generate drug candidates. Tivumecirnon in oncology and ozureprubart in allergic disease are now the critical pillars: both are based on clear biological rationales and have shown encouraging early‑stage signals. RAPT is also exploring earlier‑stage targets like GCN2 and HPK1, which could broaden the pipeline over time. However, the termination of zelnecirnon after a serious liver‑related event highlights the inherent risk in novel immunology drugs and increases dependence on the remaining lead assets. R&D execution and safety outcomes will be pivotal.

Summary

RAPT is a clinical‑stage biotech with no current product revenue, steady operating losses, and a balance sheet that is currently cushioned by cash and minimal debt. The business is essentially a bet on its science: a focused pipeline in immuno‑oncology and allergy, spearheaded by tivumecirnon and ozureprubart, built on a proprietary discovery platform. Its advantages include oral oncology agents, potentially more convenient dosing for allergy patients, and an experienced team, but these are counterbalanced by recent safety‑related setbacks, a narrowed pipeline, and ongoing cash burn. The company’s future trajectory will depend on clinical data quality, regulatory feedback, and its ability to either replenish the pipeline or secure supportive partnerships and financing as development costs continue.

NEWS

November 6, 2025 · 8:00 AM UTC

RAPT Therapeutics Reports Third Quarter 2025 Financial Results and Recent Highlights

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November 4, 2025 · 4:05 PM UTC

RAPT Therapeutics to Participate in Multiple Upcoming Investor Conferences

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October 27, 2025 · 8:00 AM UTC

RAPT Therapeutics Initiates prestIgE Phase 2b Clinical Trial of Ozureprubart (RPT904) in Patients with Food Allergies

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October 21, 2025 · 11:12 PM UTC

RAPT Therapeutics Announces Pricing of Public Offering of Common Stock

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October 21, 2025 · 4:01 PM UTC

RAPT Therapeutics Announces Proposed Public Offering of Common Stock

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