Rapport Therapeutics

Rapport Therapeutics

RAPP
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RAPP · Stock Price

USD 39.93+29.68 (+289.56%)
Market Cap: $1.9B

Historical price data

Market Cap: $1.9BPipeline: 3 drugsPatents: 1Founded: 2022HQ: Boston, United States

Overview

Rapport Therapeutics is a clinical-stage biotech company founded in 2022 with a mission to develop precision medicines for complex neurological disorders by targeting receptor-associated proteins (RAPs). The company achieved a successful IPO in May 2024, raising significant capital to advance its lead clinical program, RAP-219, for treatment-resistant epilepsy and other indications. Its core strategy leverages a proprietary RAP platform to create neuroanatomically specific therapies, aiming to overcome the pervasive side effects that have plagued central nervous system drug development.

NeurologyPsychiatry

Technology Platform

A proprietary platform for developing small molecule precision medicines that target Receptor-Associated Proteins (RAPs), which have restricted brain expression, to modulate primary neurotransmitter receptors only in specific neural circuits implicated in disease.

Pipeline

3
3 drugs in pipeline
DrugIndicationStageWatch
RAP-219Focal Onset SeizuresPhase 2
RAP-219Focal EpilepsyPhase 2
RAP-219Bipolar 1 DisorderPhase 2

Funding History

4
Total raised:$623.5M
IPO$273.5M
Series B$150M
Venture$100M
Series A$100M

Opportunities

Rapport's platform, if clinically validated, could unlock a pipeline of precision therapies for large, underserved CNS markets like epilepsy, pain, and bipolar disorder.
A successful lead program would transform the company into a validated platform story, attracting partnerships and enabling expansion into adjacent indications.

Risk Factors

The company faces high clinical risk, as its entire platform hinges on unproven human data for its lead candidate, RAP-219.
Significant future capital needs, intense competition in core therapeutic areas, and the inherent difficulty of CNS drug development pose substantial threats to success and shareholder value.

Competitive Landscape

Rapport competes in crowded markets (epilepsy, pain) but is differentiated by its unique RAP-targeting approach for neuroanatomical precision. Its closest competitors are other precision neuroscience companies (e.g., Sage, Praxis), but Rapport's focus on auxiliary proteins like TARPγ8 provides a specialized niche and potential first-mover advantage.

Company Timeline

2022Founded

Founded in Boston, United States

2023Series B

Series B: $150.0M

2023Venture

Venture: $100.0M

2024IPO

IPO — $273.5M