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RAPT Therapeutics, Inc. (NASDAQ:RAPT), a clinical-stage biotech company currently trading at $7.43 with a market cap of $123 million, has expanded its Board of Directors from five to seven members with the appointment of Scott Braunstein, M.D. and Ashley Dombkowski, Ph.D., effective June 21, 2025. According to InvestingPro analysis, RAPT's stock has declined 70% over the past year, though analysts see significant upside potential with price targets ranging from $8 to $48.
According to the SEC filing, both directors will serve as Class III directors with terms expiring at the company's 2028 annual meeting of stockholders. Dr. Braunstein will join the Audit Committee, while Dr. Dombkowski will serve on the Nominating and Corporate Governance Committee. InvestingPro data shows RAPT maintains a strong liquidity position with more cash than debt, though the company is experiencing rapid cash burn - crucial insights available in the comprehensive Pro Research Report covering 1,400+ US stocks.
Dr. Braunstein, 61, brings over 30 years of biotechnology and pharmaceutical industry experience. He currently serves as an operating partner at Aisling Capital and previously was President and CEO of Marinus (NASDAQ:MRNS) Pharmaceuticals until March 2025. His background includes roles at Pacira Pharmaceuticals (NASDAQ:PCRX) and 12 years with J.P. Morgan Asset Management.
Dr. Dombkowski, 54, has more than 20 years of experience as an operating executive, entrepreneur, and investor. She currently serves as CEO and President of Cellics Therapeutics, a biotechnology company developing treatments for inflammation and immunology. Previously, she was CEO and Co-founder of Alladapt Immunotherapeutics.
Both new directors will receive compensation consistent with RAPT's non-employee director compensation policy, which was amended to provide new directors with an initial one-time grant of options to purchase 25,000 shares of the company's common stock.
In other recent news, RAPT Therapeutics has announced a 1-for-8 reverse stock split set to take effect in mid-June 2025, which will significantly reduce the number of outstanding shares while maintaining the total authorized shares. This move is typically aimed at increasing the share price without altering the company's overall market capitalization. Additionally, RAPT Therapeutics has expanded its board of directors with the appointments of Scott Braunstein, M.D., and Ashley Dombkowski, Ph.D., bringing extensive industry experience to the company. In terms of financial analysis, Clear Street has initiated coverage of RAPT Therapeutics with a Buy rating and a price target of $3.00, expressing confidence in RPT904, a promising anti-IgE antibody. H.C. Wainwright also issued a Buy rating, setting a higher price target of $6.00, highlighting RPT904's potential due to its enhanced pharmacokinetics and mechanism of action. Conversely, UBS has revised its price target for RAPT Therapeutics down to $1.00 from $2.00, maintaining a Neutral rating and emphasizing the need for more data to fully assess RPT904's potential. These developments come as RAPT continues to focus on its lead candidate RPT904, which is progressing through various clinical trials.
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