Rapt Therapeutics files for IPO

Rapt Therapeutics (OTC:RAPT) has filed a preliminary prospectus for an $86M IPO.

The South San Francisco-based biopharma firm develops small molecule therapies for cancer and inflammatory disorders that it says modulate the critical immune responses underlying the diseases.

Lead oncology candidate is FLX475, a CCR4 antagonist that blocks the migration of immunosuppressive regulatory T cells into tumors. Proof-of-concept data should be available in H1 2020.

Lead inflammation candidate is RPT193, also a CCR4 antagonist, that blocks the recruitment of inflammatory immune cells called type 2 T helper cells that play a key role in allergic inflammatory diseases. A Phase 1 study in atopic dermatitis should launch in H2.

2019 Financials (Q1): Operating Expenses: $9.5M (+14.1%); Net Loss: ($9.2M) (-11.6%); Cash Burn: ($8.6M) (-13.4%).


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