RAPT Therapeutics adds two new directors to board

SOUTH SAN FRANCISCO - RAPT Therapeutics, Inc. (NASDAQ:RAPT) appointed Scott Braunstein, M.D., and Ashley Dombkowski, Ph.D., to its board of directors, the clinical-stage biopharmaceutical company announced Monday. According to InvestingPro data, RAPT maintains a strong liquidity position with a current ratio of 21.1, though the company faces challenges with rapid cash burn.

Dr. Braunstein will serve on the company’s Audit Committee while Dr. Dombkowski joins the Nominating and Corporate Governance Committee.

Braunstein brings over 30 years of biotechnology and pharmaceutical industry experience. He previously served as President and CEO of Marinus Pharmaceuticals until March 2025 and has been an operating partner at Aisling Capital since 2015. He currently sits on the boards of atai Life Sciences, Caribou Biosciences, and Site One Therapeutics.

Dombkowski has more than 20 years of experience as an executive, entrepreneur, and investor. She currently serves as CEO and President of Cellics Therapeutics, a biotechnology company developing biologics for inflammation and immunology conditions. Her previous roles include founding and leading Alladapt Immunotherapeutics, which developed food allergy therapies.

RAPT’s lead product candidate, RPT904, is a monoclonal antibody targeting immunoglobulin E (IgE). The therapy is completing Phase 2 trials in chronic spontaneous urticaria and asthma, with plans to begin Phase 2 trials for food allergy later this year. InvestingPro analysis indicates the company appears undervalued based on its Fair Value model, despite facing profitability challenges with negative EBITDA of $121.7 million in the last twelve months.

"We are excited to welcome Dr. Braunstein and Dr. Dombkowski to our board of directors at this pivotal time," said Brian Wong, M.D., Ph.D., President and CEO of RAPT, according to the company’s press release.

RAPT Therapeutics focuses on developing therapies for patients with inflammatory and immunological diseases.

In other recent news, RAPT Therapeutics announced a 1-for-8 reverse stock split, effective June 16, 2025, to consolidate its outstanding shares from approximately 132.3 million to 16.5 million. This move is often used to increase a company’s share price by reducing the number of outstanding shares. Meanwhile, Clear Street analysts initiated coverage of RAPT Therapeutics with a Buy rating and a price target of $3.00, expressing confidence in RPT904, an anti-IgE antibody. H.C. Wainwright also rated RAPT Therapeutics as a Buy, setting a higher price target of $6.00, highlighting the potential of RPT904 for conditions like food allergy and chronic spontaneous urticaria. On the other hand, UBS revised its price target for RAPT Therapeutics to $1.00 from $2.00, maintaining a Neutral rating after considering the recent in-licensing of RPT904/JYB1904. RAPT Therapeutics plans to start a Phase 2b trial for food allergy in the second half of 2025, with top-line data expected in 2027. The company ended the first quarter with approximately $179 million in cash, which is expected to support its trial plans. The developments around RPT904 are seen as a significant opportunity, with potential implications for the food allergy market in the U.S.

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