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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% | - | - |
| 2024 | $0M | $-82M | $-78M | $-67M | -25.6% | - | - |
| 2023 | $0M | $-36M | $-35M | $-29M | 135.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 0 | 0 | 0 |
| Operating Expense | 36.18 | 83.06 | 125.10 |
| Operating Income | -36.18 | -83.06 | -125.10 |
| EBITDA | -36.07 | -82.22 | -124.08 |
| EBIT | -36.18 | -83.06 | -125.10 |
| Pretax Income | -34.78 | -78.31 | -111.48 |
| Tax Provision | 0.01 | 0 | 0 |
| Net Income | -34.79 | -78.31 | -111.48 |
| Net Income Common Stockholders | -34.79 | -78.31 | -111.48 |
| Total Expenses | 36.18 | 83.06 | 125.10 |
| Interest Expense | 0 | 0 | 0 |
| Interest Income | 2.53 | 12.14 | 13.62 |
| Research And Development | 28 | 60.94 | 94.79 |
| Selling General And Administration | 8.18 | 22.12 | 30.31 |
| Normalized EBITDA | -36.07 | -82.22 | -124.08 |
| Normalized Income | -34.79 | -78.31 | -111.48 |
| Basic EPS | -23.10 | -3.78 | 0 |
| Diluted EPS | -23.10 | -3.78 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 |
| Total Unusual Items | -1.12 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -1.12 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -34.79 | -78.31 | -111.48 |
| Reconciled Depreciation | 0.11 | 0.84 | 1.02 |
| Net Interest Income | 2.53 | 12.14 | 13.62 |
| Net Income From Continuing And Discontinued Operation | -34.79 | -78.31 | -111.48 |
| Total Operating Income As Reported | -36.18 | -83.06 | -125.10 |
| Diluted Average Shares | 1.51 | 20.74 | 0 |
| Basic Average Shares | 1.51 | 20.74 | 0 |
| Diluted NI Availto Com Stockholders | -34.79 | -78.31 | -111.48 |
| Net Income Including Noncontrolling Interests | -34.79 | -78.31 | -111.48 |
| Net Income Continuous Operations | -34.79 | -78.31 | -111.48 |
| Other Income Expense | -1.12 | -7.39 | 0 |
| Other Non Operating Income Expenses | -1.12 | -7.39 | 0 |
| Gain On Sale Of Security | -1.12 | 0 | 0 |
| Net Non Operating Interest Income Expense | 2.53 | 12.14 | 13.62 |
| Interest Expense Non Operating | 0 | 0 | 0 |
| Interest Income Non Operating | 2.53 | 12.14 | 13.62 |
| 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 |
| Operating Revenue | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rapport Therapeutics, Inc.this co. | RAPP | $1.6B | - | 3.25 | -23.0% | -8.85 |
| Agios Pharmaceuticals, Inc. | AGIO | $1.7B | - | 1.37 | -34.6% | -1.37 |
| Astrana Health, Inc. | ASTH | $1.6B | 83.54 | 2.41 | 2.9% | 18.68 |
| Healthcare Services Group, Inc. | HCSG | $1.6B | 26.18 | 3.03 | 11.6% | 16.59 |
| Innoviva, Inc. | INVA | $1.6B |
| 6.44 |
| 1.49 |
| 23.1% |
| 3.96 |
| Progyny, Inc. | PGNY | $1.6B | 25.43 | 2.88 | 11.3% | 15.56 |
| UFP Technologies, Inc. | UFPT | $1.5B | 22.59 | 3.64 | 16.1% | 15.05 |
| Nuvation Bio Inc. | NUVB | $1.5B | - | 4.92 | -66.9% | -4.95 |
| Harrow, Inc. | HROW | $1.5B | - | 28.56 | -9.9% | 34.30 |
| Peer Median | - | 25.43 | 2.96 | 7.1% | 15.30 | |