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Rapport Therapeutics, Inc., operates as a clinical-stage biopharmaceutical company that focuses on the discovery and development of transformational small molecule medicines for patients suffering from central nervous system (CNS) disorders. The company's lead product candidate is receptor associated protein (RAP)-219, an investigational small molecule that is designed to inhibit TARPy8-containing AMPARs with picomolar affinity for the treatment of focal epilepsy and other CNS disorders, including peripheral neuropathic pain and bipolar disorder. It also develops nicotinic acetylcholine receptor (nAChR) programs, such as a6 nAChR to treat chronic pain and migraine; and a9a10 nAChR for the treatment of hearing/vestibular disorders. The company was formerly known as Precision Neuroscience NewCo, Inc. and changed its name to Rapport Therapeutics, Inc. in October 2022. Rapport Therapeutics, Inc. was incorporated in 2022 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-124M | $-111M | $-88M | -23.0% | - | 42.4% |
| 2024 | $0M | $-82M | $-78M | $-67M | -25.6% | - | 125.1% |
| 2023 | $0M | $-36M | $-35M | $-29M | 135.7% | - | - |
| 2022 | - | - | - | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 |
| Operating Expense | - | 36.18 | 83.06 | 125.10 |
| Research And Development | - | 28 | 60.94 | 94.79 |
| Selling General And Administration | - | 8.18 | 22.12 | 30.31 |
| Total Expenses | - | 36.18 | 83.06 | 125.10 |
| Operating Income | - | -36.18 | -83.06 | -125.10 |
| Total Operating Income As Reported | - | -36.18 | -83.06 | -125.10 |
| EBITDA | - | -36.07 | -82.22 | -124.08 |
| Normalized EBITDA | - | -36.07 | -82.22 | -124.08 |
| EBIT | - | -36.18 | -83.06 | -125.10 |
| Interest Income | - | 2.53 | 12.14 | 13.62 |
| Interest Expense | - | 0 | - | - |
| Net Interest Income | - | 2.53 | 12.14 | 13.62 |
| Other Non Operating Income Expenses | - | -1.12 | -7.39 | - |
| Other Income Expense | - | -1.12 | -7.39 | - |
| Interest Income Non Operating | - | 2.53 | 12.14 | 13.62 |
| Interest Expense Non Operating | - | 0 | - | - |
| Net Non Operating Interest Income Expense | - | 2.53 | 12.14 | 13.62 |
| Pretax Income | - | -34.78 | -78.31 | -111.48 |
| Tax Provision | - | 0.01 | 0 | - |
| Tax Rate For Calcs | - | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -34.79 | -78.31 | -111.48 |
| Net Income From Continuing And Discontinued Operation | - | -34.79 | -78.31 | -111.48 |
| Net Income From Continuing Operation Net Minority Interest | - | -34.79 | -78.31 | -111.48 |
| Net Income | - | -34.79 | -78.31 | -111.48 |
| Net Income Common Stockholders | - | -34.79 | -78.31 | -111.48 |
| Net Income Including Noncontrolling Interests | - | -34.79 | -78.31 | -111.48 |
| Normalized Income | - | -34.79 | -78.31 | -111.48 |
| Diluted NI Availto Com Stockholders | - | -34.79 | -78.31 | -111.48 |
| Basic Average Shares | - | 1.51 | 20.74 | - |
| Diluted Average Shares | - | 1.51 | 20.74 | - |
| Reconciled Depreciation | - | 0.11 | 0.84 | 1.02 |
| Total Unusual Items | - | -1.12 | - | - |
| Total Unusual Items Excluding Goodwill | - | -1.12 | - | - |
| Gain On Sale Of Security | - | -1.12 | - | - |
| General And Administrative Expense | - | 8.18 | 22.12 | 30.31 |
| Other Gand A | - | 3.86 | 8.13 | 8.79 |
| Salaries And Wages | - | 4.32 | 13.99 | 21.52 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rapport Therapeutics, Inc.this co. | RAPP | $1.8B | - | -178.20 | -23.0% | - |
| Maravai LifeSciences Holdings, Inc. | MRVI | $1.8B | -14.08 | 8.67 | -61.6% | -13.48 |
| Pediatrix Medical Group, Inc. | MD | $1.8B | 11.11 | 2.12 | 19.1% | 7.64 |
| Viridian Therapeutics, Inc. | VRDN | $1.8B | -5.34 | 3.10 | -58.1% | -4.95 |
| Vericel Corporation | VCEL |
| $1.8B |
| 110.33 |
| 5.14 |
| 4.7% |
| 60.29 |
| ANI Pharmaceuticals, Inc. | ANIP | $1.8B | 22.99 | 3.33 | 14.5% | 10.29 |
| Nuvation Bio Inc. | NUVB | $1.8B | -8.80 | 5.89 | -66.9% | -8.95 |
| Surgery Partners, Inc. | SGRY | $1.8B | -22.97 | 1.04 | -4.5% | 9.86 |
| SELLAS Life Sciences Group, Inc. | SLS | $1.8B | -66.17 | 25.08 | -37.9% | -60.37 |
| Peer Median | - | -7.07 | 4.23 | -21.2% | 1.35 | |