Rapport Therapeutics Inc

NASDAQ:RAPPUnited States

Rapport Therapeutics to Present Data at American Epilepsy Society Annual Meeting

Poster presentations on Phase 2a trial seizure biomarker, preclinical, and Phase 1 clinical data

current assets 5,173 3,309 ----------- ---------- Total current assets 325,939 150,872 Property and equipment, net 3,409 1,916 Operating lease right of use asset, net 1,607 2,084 Other assets 189 551 ----------- ---------- Total assets $ 331,144 $ 155,423 =========== ========== Liabilities, Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities Accounts payable $ 1,323 $ 2,502 Accrued expenses and other current liabilities 5,056 5,631 Operating lease liability 720 670 ----------- ---------- Total current liabilities 7,099 8,803 Series B preferred stock tranche right liability -- 4,200 Operating lease liability, net of current portion 931 1,476 ----------- ---------- Total liabilities 8,030 14,479 Commitments and contingencies Series A convertible preferred stock -- 89,487 Series B convertible preferred stock -- 77,091 Stockholders' equity (deficit) Undesignated preferred stock -- -- Common Stock 36 4 Additional paid-in capital 426,443 19,796 Accumulated other comprehensive income 400 4 Accumulated deficit (103,765) (45,438) ----------- ---------- Total stockholders' equity (deficit) 323,114 (25,634) ----------- ---------- Total liabilities, convertible preferred stock, and stockholders' equity $ 331,144 $ 155,423 =========== ========== Condensed Consolidated Statement of Operations (In thousands, except share and per share data) (unaudited) For the three months ended September 30, ---------------------------------------------- 2024 2023 ----------------------- ----------------- Operating expenses Research and development $ 15,543 $ 7,580 General and administrative 6,097 1,984 ------------------- ---------------- Total operating expenses 21,640 9,564 ------------------- ---------------- Loss from operations (21,640) (9,564) Other income (expense): Interest income 4,103 856 Change in fair value of preferred stock tranche right liability -- -- ------------------- ---------------- Total other income, net 4,103 856 ------------------- ---------------- Net loss before income taxes (17,537) (8,708) Provision for income taxes -- 1 ------------------- ---------------- Net loss $ (17,537) $ (8,709) =================== ================ Net loss per share attributable to common stockholders, basic and diluted $ (0.50) $ (5.70) =================== ================ Weighted-average common shares outstanding, basic and diluted 34,855,907 1,529,216 =================== ================ Condensed Consolidated Statements of Cash Flows (In thousands) (unaudited) For the Three Months Ended September 30, ------------------------------------------------ 2024 2023 ----------------------- ------------------- Net cash used in operating activities $ (16,415) $ (5,424) Net cash used in investing activities (53,041) (52) Net cash provided by (used in) financing activities (1,394) 85,360 --- ------------------ --------------- Net increase in cash, cash equivalents and restricted cash $ (70,850) $ 79,884 === ================== ===============