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Troy Ignelzi, the Chief Financial Officer of Rapport Therapeutics , Inc. (NASDAQ:RAPP), a $365 million market cap biotech company, recently acquired a significant amount of the company’s common stock. The company maintains a strong liquidity position with a current ratio of 35.34 and more cash than debt on its balance sheet. According to a recent filing, Ignelzi purchased a total of 10,000 shares over two transactions. The first transaction involved the purchase of 9,900 shares at a price of $10.10 per share, while the second transaction included 100 shares acquired at $9.98 per share. The total value of these purchases amounts to $100,988. Following these acquisitions, Ignelzi now directly owns 10,000 shares of Rapport Therapeutics. The stock has shown recent momentum with a 24% gain over the past week, though it remains well below its 52-week high of $29.74. InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics for RAPP.
In other recent news, Rapport Therapeutics has appointed Dr. Jeffrey Sevigny as its new chief medical officer. Dr. Sevigny brings over 15 years of experience in drug development and has held leadership roles at companies like Prevail Therapeutics (NASDAQ:PRVL) and Eli Lilly (NYSE:LLY). His immediate focus at Rapport will be overseeing the RAP-219 program, which is in clinical trials for conditions such as focal epilepsy and diabetic peripheral neuropathic pain. In addition, TD Cowen has highlighted Rapport’s ongoing efforts with RAP-219, expecting functional outcome score data by mid-year. This development is part of a broader list of anticipated biotech catalysts for 2025 identified by TD Cowen. These recent developments are part of Rapport’s strategy to advance its precision neuroscience pipeline. The company continues to emphasize its commitment to delivering novel treatments for neurological disorders. Dr. Sevigny’s appointment is expected to bolster Rapport’s clinical development efforts.
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