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RAPT Therapeutics Inc. (NASDAQ: RAPT) is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. As of October 20, 2025, its share price is $46.25, reflecting a 57.63% increase over the prior period, with a trading volume of 248,506 shares. RAPT (Korean name: 랩트 테라퓨틱스) focuses on the development of oral small-molecule and antibody therapies for inflammatory, immunologic, and oncology indications.
Corporate Structure and Workforce
Founded in 2015, RAPT employs between 51 and 200 individuals, including experienced researchers in immunology, drug discovery, and computational sciences. The leadership team consists of professionals from the biotechnology and pharmaceutical industries, supported by clinical and scientific advisors. RAPT operates from its South San Francisco headquarters and has regional collaborations and licensing agreements in the United States, Europe, Japan, China, Taiwan, Hong Kong, and Macau.
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Recent Developments and News
- In July 2024, RAPT conducted a second workforce reduction following an FDA clinical hold, which began in February 2024, and resulted in the discontinuation of the drug candidate zelnecirnon (RPT193) after a Phase 2 trial patient experienced liver failure.
- On April 15, 2025, RAPT announced plans to initiate a Phase 2 food allergy trial for RPT904 in the second half of 2025, following a $35 million upfront licensing deal for ex-China rights with Shanghai Jemincare Pharmaceutical.
- On May 8, 2025, the FDA cleared RAPT’s Investigational New Drug application for RPT904, enabling the company to proceed with a Phase 2b study in food allergy by year-end 2025.
- On June 1, 2025, RAPT reported positive topline results from its partner Shanghai Jemincare's Phase 2 trial for chronic spontaneous urticaria, showing comparable efficacy and safety to omalizumab with dosing every eight or 12 weeks.
- On September 15, 2025, President and CEO Brian Wong, M.D., Ph.D., presented an overview of RAPT's pipeline, including RPT904 and next-generation CCR4 antagonists, at the Stifel 2025 Virtual Immunology & Inflammation Forum.
Financial and Strategic Analysis
RAPT’s 57.63% increase in share price reflects heightened market interest in its pipeline milestones. Key financial indicators from third-party analytics include a low Dividend Score (0/100) and a low Hiring Score (0/100), while Insider Sentiment is reported to be below the sector average. RAPT maintains global ex-China rights to RPT904 and aims to leverage Shanghai Jemincare’s Phase 2 data in asthma and urticaria to expand its focus into food allergy treatments. The company is also developing two CCR4 antagonists: tivumecirnon (FLX475), currently in Phase 1/2 oncology trials in combination with pembrolizumab, and a preclinical candidate targeting inflammation.
Market Position and Industry Context
Operating within the competitive immunology and inflammation sector, RAPT aims to address unmet medical needs with oral small molecules and a long-half-life anti-IgE antibody. Competitors include established biologics such as omalizumab. RAPT’s emphasis on convenience (oral dosing and extended dosing intervals) and global partnerships positions the company to compete against existing therapies. Collaborations with Hanmi Pharmaceutical and Shanghai Jemincare support regional development, while clinical trials in the U.S., Europe, and Japan target a broad patient population.
tl;dr
RAPT’s stock has risen 57.63% to $46.25 as of October 20, 2025. FDA clearance on May 8, 2025, enabled a Phase 2b food allergy trial for RPT904, following positive Phase 2 chronic spontaneous urticaria data reported on June 1, 2025. A Phase 3 pivotal study in urticaria is planned, and a food allergy trial is set to begin by year-end 2025. Strategic partnerships secure global ex-China rights, while two CCR4 antagonists are advancing in oncology and preclinical inflammation programs.
