RAPT Therapeutics Reports Improved Q2 2025 Net Loss of $17.6 Million

RAPT Therapeutics, Inc. reported a net loss of $17.6 million for the second quarter of 2025, a significant improvement compared to a net loss of $27.7 million in the same period of the previous year. For the six months ending June 30, 2025, the company recorded a net loss of $34.8 million, down from $58.2 million in the first half of 2024. The reduction in losses is attributed to a 45% decrease in research and development expenses, which fell to $12.3 million in Q2 2025 from $22.6 million in Q2 2024, primarily due to the cessation of the zelnecirnon program and reduced costs associated with other drug candidates.

Total operating expenses for the second quarter of 2025 were $19.5 million, down from $29.3 million in the prior year, reflecting a 33% decrease. General and administrative expenses increased slightly by 8% to $7.2 million, driven by higher consulting and facility costs. The company’s other income, primarily from interest on cash and marketable securities, rose to $1.9 million, up from $1.7 million in the previous year, benefiting from higher invested cash balances.

As of June 30, 2025, RAPT Therapeutics had cash and cash equivalents of $41.9 million and marketable securities totaling $127.1 million, down from $169.7 million and $61.3 million, respectively, at the end of 2024. The company’s total assets decreased to $178.4 million from $240.3 million, while total liabilities dropped significantly from $50.4 million to $14.0 million, primarily due to the elimination of license fees payable. The company’s accumulated deficit increased to $649.4 million, reflecting ongoing investments in research and development.

Strategically, RAPT Therapeutics has made significant moves, including the exclusive licensing agreement with Shanghai Jemincare Pharmaceutical Co., Ltd. for the development and commercialization of its lead drug candidate, RPT904. The company is also pursuing clinical development for RPT904 in food allergies and chronic spontaneous urticaria. Additionally, RAPT has implemented a 1-for-8 reverse stock split to maintain compliance with Nasdaq listing requirements, which was executed on June 16, 2025.

Looking ahead, RAPT Therapeutics anticipates continued substantial expenditures to advance its drug candidates through clinical development and regulatory approval processes. The company plans to raise additional capital through equity or debt financing, strategic alliances, or other sources to support its operations. RAPT believes its current cash and marketable securities will be sufficient to fund its operations for at least the next 12 months, but acknowledges the need for further funding to sustain its development strategy.