Quarterly ResultMay 7, 2026, 07:17 AM
Rapport Therapeutics RAP-219 Shows 90% Seizure Reduction; Bipolar Mania Results Accelerated
AI Summary
Rapport Therapeutics reported Q1 2026 financial results and provided a business update, highlighting positive Phase 2a follow-up data for RAP-219 in focal onset seizures, showing a 90% median reduction in clinical seizures. The company also accelerated the expected topline results for its RAP-219 Phase 2 trial in bipolar mania to Q4 2026. Financially, Rapport reported a net loss of $19.9 million, improved from the prior year, and generated $20.0 million in collaboration revenue from a new strategic agreement with Tenacia Biotechnology for RAP-219 in Greater China. The company ended the quarter with $476.8 million in cash, extending its cash runway into the second half of 2029.
Key Highlights
- RAP-219 Phase 2a FOS data showed 90% median reduction in clinical seizures (weeks 9-12).
- RAP-219 Phase 2 bipolar mania topline results now expected in Q4 2026, ahead of plan.
- Strategic collaboration with Tenacia Biotechnology for RAP-219 in Greater China.
- Q1 2026 Net Loss was $19.9 million, an improvement from $24.1 million YoY.
- Q1 2026 Collaboration Revenue was $20.0 million, up from $0 YoY.
- Ended Q1 2026 with $476.8 million in cash, cash equivalents, and short-term investments.
- Cash runway extended into the second half of 2029.
- R&D expenses increased to $32.7 million from $19.6 million YoY.