Rapport Therapeutics reported its third-quarter financial results, ending September 30, 2024, with $320.7 million in cash, cash equivalents, and short-term investments. This represents a decrease from $336.1 million as of June 30, 2024, primarily due to cash outflows from operating activities during the quarter. The company projects that its current capital resources will fund operating expenses and capital expenditure requirements through the end of 2026.
In a significant regulatory development, the Investigational New Drug (IND) application for RAP-219 in diabetic peripheral neuropathic pain (DPNP) was placed on clinical hold by the FDA. The company is currently addressing the issues raised by the FDA to resolve this hold. This regulatory action impacts the development timeline for RAP-219 in the DPNP indication.
Despite the DPNP clinical hold, Rapport provided updates on its other clinical programs. The Phase 2a trial of RAP-219 in focal epilepsy is actively recruiting patients and remains on track to deliver topline data in mid-2025. Additionally, topline data from the RAP-219 MAD-2 and PET trials are expected in the first quarter of 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.