Rapport Therapeutics, Inc.

Rapport Therapeutics, Inc. is a U.S.-based clinical-stage biotechnology company focused on discovering and developing small-molecule medicines for neurological and psychiatric disorders. Its lead program, RAP-219, is being advanced for focal onset seizures, supported by the company’s RAP technology platform and licensed neuroscience assets.

26.17

26.17

— Rapport Therapeutics, Inc.
%
Clinical-stage product candidates0% Small-molecule drug candidates being advanced through preclinical and clinical development.
Precision neuroscience platform0% Internal discovery platform used to identify and develop RAP-targeted therapies.
Licensed neuroscience assets0% In-licensed TARPγ8 and nAChR programs and related know-how from Janssen.
Research and development services100% External CRO, CMO, and clinical trial services used to advance product candidates.

Rapport does not yet sell commercial products; its near-term counterparties are clinical investigators, contract...

  • Clinical development partnersprimary

    CROs, CMOs, and trial vendors that provide preclinical, clinical, and manufacturing services.

  • Clinical trial investigators and sitesprimary

    Hospitals and research sites that enroll patients and execute RAP-219 studies.

  • Neurology patientsprimary

    Patients with focal onset seizures who would be treated if RAP-219 is approved.

  • Prescribers and specialistssecondary

    Neurologists and other specialists who would evaluate efficacy, safety, and convenience.

  • Third-party payorssecondary

    Commercial and government payors that determine coverage and reimbursement.

Rapport is headquartered in the United States and conducts its business primarily through U.S...

  • •Headquartered in the United States
  • •Clinical and research operations are centered in the U.S.
  • •Trial execution depends on U.S. and potentially global sites
  • •Manufacturing is outsourced through CMOs rather than owned plants
  • •No country revenue mix disclosed because the company is pre-commercial

The company’s strategy is to use its RAP platform to build a pipeline of precision neuroscience medicines, with RAP-219...

01
Advance RAP-219 clinical developmentshort-term

Clinical data are the main value driver for a pre-commercial biotech.

02
Expand the pipeline beyond RAP-219medium-term

A broader pipeline reduces single-asset dependence and supports long-term growth.

03
Secure development and manufacturing capabilitiesmedium-term

Clinical and future commercial supply depend on reliable CRO/CMO execution.

Rapport faces the typical risks of a clinical-stage biotech: uncertain clinical outcomes, regulatory risk, and the need...

critical

Clinical development failure

RAP-219 and future candidates may not demonstrate sufficient efficacy or safety.

Scope
Lead asset RAP-219
Materiality
high
high

Capital dependence

The company has no product revenue and will need future financing to fund R&D.

Scope
Corporate funding runway
Materiality
high
high

Manufacturing and supply chain execution

Commercial-scale drug substance and drug product processes are still being developed.

Scope
CMOs and supplier network
Materiality
high
medium

Competitive pressure

Epilepsy and neuroscience markets include large pharma, generics, devices, and surgeries.

Scope
Focal onset seizures market
Materiality
medium
medium

Reimbursement and market access

Any approved product must win coverage and reimbursement to achieve adoption.

Scope
Future commercial products
Materiality
medium
Research and development accruals
Can shift quarterly R&D expense and prepaid balances
Milestone-based vendor contracts
Affects timing of expense recognition and liabilities
Short-term investment valuation
Influences liquidity presentation and interest income
Stock-based compensation
Affects operating loss and diluted share count

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: 29/04/2026