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

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  • RAPT Therapeutics Inc (NASDAQ: 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.

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