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RAPT Therapeutics, Inc. (NASDAQ:RAPT) reported Monday that Chief Medical Officer Dr. William Ho will leave the company effective December 31, 2025. The announcement was made in a press release statement based on a filing with the Securities and Exchange Commission. The news comes as RAPT shares have surged 22.8% over the past week and an impressive 238% over the last year, according to InvestingPro data.
According to the company, Dr. Ho and RAPT Therapeutics mutually agreed to the separation. Under the terms of his employment agreement, Dr. Ho will receive severance benefits, including a payment equal to nine months of his current salary and 100% of his target bonus for the fiscal year ending December 31, 2025. He will also receive continued healthcare coverage for nine months following his departure, which will be paid by the company.
RAPT Therapeutics stated that it expects to enter into a consulting arrangement with Dr. Ho, beginning on the date of his separation and continuing through December 31, 2026, or an earlier date at Dr. Ho’s discretion. During this consulting period, Dr. Ho will serve as a strategic consultant and will continue to vest in outstanding equity awards through the end of the consulting period.
RAPT Therapeutics is a pharmaceutical company based in South San Francisco, California. Its common stock is listed on The Nasdaq Stock Market LLC under the symbol RAPT. The company holds more cash than debt on its balance sheet and maintains a strong current ratio of 12.04, though analysts do not anticipate profitability this year. Currently trading at $33.80, RAPT appears overvalued according to InvestingPro Fair Value estimates. Three analysts have recently revised earnings upward for the upcoming period, with price targets ranging from $56 to $72. The information in this article is based on a press release statement and a recent SEC filing.Discover more insights with InvestingPro, which offers 10+ additional tips on RAPT Therapeutics and comprehensive financial analysis tools.
In other recent news, RAPT Therapeutics announced the pricing of its underwritten public offering at $30 per share, aiming to raise approximately $250 million in gross proceeds. The company has also given underwriters a 30-day option to purchase up to an additional 1,250,000 shares at the offering price. This development follows the announcement of topline data from a Phase 2 clinical trial of RPT-904 in chronic spontaneous urticaria conducted by Jeyou, RAPT’s strategic partner in China. In response to this announcement, H.C. Wainwright raised its price target for RAPT Therapeutics from $27 to $72, maintaining a Buy rating on the stock.
Guggenheim has also initiated coverage on RAPT Therapeutics with a Buy rating and a $70 price target, citing the potential of RAPT’s anti-IgE monoclonal antibody, RPT-904, in the food allergy market. The company has not disclosed the size or terms of the offering, which remains subject to market conditions. Despite these positive analyst ratings, RAPT’s stock experienced a drop of 5.3% in after-hours trading following the public offering announcement. However, the offering is expected to provide significant capital for the company’s ongoing development efforts.
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