RAPT Therapeutics Raises $125M Via Equity At 6% Discount

  • RAPT Therapeutics Inc RAPT has priced its previously announced underwritten public offering of 3.8 million shares at $33/share.
  • The price represents a 6% discount from last the close price of $35.19 on Tuesday.
  • Gross proceeds of approximately $125 million will be used to fund the R&D of FLX475, RPT193, and other potential future drug candidates, general & administrative expenses, and capital expenditures.
  • Underwriters have an option to purchase up to an additional 568k shares.
  • The offering will close by June 18.
  • Recently, the company announced positive data from Phase 1b trial of RPT193 in atopic dermatitis, demonstrating a 36.3% improvement from baseline in the Eczema disease severity score, compared to 17.0% in the placebo group.
  • RAPT plans to initiate a dose-ranging Phase 2b study in moderate-to-severe atopic dermatitis and a Phase 2a study in asthma with RPT193.
  • See the Offer Prospectus here.
  • Price Action: RAPT shares are down 2.67% at $34.25 during the premarket session on the last check Wednesday.

Posted In: BriefsBiotechNewsHealth CareOfferingsSmall CapGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.