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BOSTON/SAN DIEGO - Rapport Therapeutics, Inc. (NASDAQ:RAPP), currently valued at $1.15 billion, has priced an underwritten public offering of 9,615,385 shares of its common stock at $26.00 per share, the clinical-stage biotechnology company announced Tuesday. The stock has shown remarkable momentum, gaining over 86% in the past week.
The offering is expected to generate approximately $250 million in gross proceeds before deducting underwriting discounts, commissions, and offering expenses. Rapport has also granted underwriters a 30-day option to purchase up to an additional 1,442,307 shares at the public offering price. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 22.75.
Goldman Sachs & Co. LLC, Jefferies, TD Cowen, and Stifel are serving as joint book-running managers for the offering, which is expected to close on or about September 11, subject to customary closing conditions.
Rapport Therapeutics focuses on developing small molecule precision medicines for neurological and psychiatric disorders. The company’s lead investigational drug, RAP-219, is being developed as a potential treatment for drug-resistant focal onset seizures, bipolar mania, and diabetic peripheral neuropathic pain. While analyst price targets range from $34 to $77 per share, current valuations suggest the stock may be trading above its Fair Value.
The offering is being conducted pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission on July 1, 2025, which was declared effective on July 9, 2025.
According to the press release statement, all shares in the offering are being sold by Rapport, with no secondary offering from existing shareholders.
In other recent news, Rapport Therapeutics announced positive results from its Phase 2a clinical trial for RAP-219, a drug candidate for focal onset seizures. The trial met its primary endpoint with high statistical significance, showing a 71% median reduction in long episodes and a 77.8% reduction in clinical seizures. Following these results, Stifel raised its price target for Rapport Therapeutics to $56, maintaining a Buy rating, citing the trial’s strong efficacy. Similarly, H.C. Wainwright increased its price target to $34, also maintaining a Buy rating, after positive data from an open-label study. TD Cowen reiterated its Buy rating, highlighting that RAP-219 exceeded expectations by achieving its primary endpoint, with 85% of patients experiencing a significant reduction in seizure-like events.
Additionally, Rapport Therapeutics has launched a $250 million public stock offering, with a 30-day option for underwriters to purchase an additional $37.5 million in shares. Goldman Sachs, Jefferies, TD Cowen, and Stifel are acting as joint book-running managers for this offering. These developments reflect significant progress and investor interest in Rapport Therapeutics’ ongoing clinical efforts.
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