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Companies / Healthcare / Rapport Therapeutics, Inc.
RAPP

Rapport Therapeutics, Inc.

HealthcarePharmaceutical Preparations
Ticker RAPPBOSTON, MAFiscal year ends DecemberBook value per share $8.93Diluted shares 47.4M

Rapport Therapeutics, Inc. (Nasdaq: RAPP) is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological and psychiatric disorders. The company's website is www.rapporttherapeutics.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
—
0.00%
$-111.48M
−42.4% year over year
Last 12 mo $-137.16M
-23.00%
+2.6 percentage points
Last 12 mo -32.43%
Cash & financing
$-87.47M
−34.9% year over year
Last 12 mo $-96.68M
$-88.09M
−31.0% year over year
Last 12 mo $-97.15M
—
38.9M
+87.7% year over year
Last 12 mo 47.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Rapport Therapeutics, Inc. does

In the company’s own words

Rapport Therapeutics, Inc. (Nasdaq: RAPP) is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological and psychiatric disorders. The company's website is www.rapporttherapeutics.com.

Rapport was founded in February 2022 with support from Third Rock Ventures and Johnson & Johnson Innovation-JJDC to advance the discovery and development of receptor-associated protein (RAP) targeted precision neuromedicines. The company's scientific foundation stems from pioneering discoveries related to RAP function in the brain, which form the basis of its proprietary RAP technology platform. This platform enables a differentiated approach to generate precision small molecule product candidates by targeting neuronal receptor complexes with regional specificity in the brain.

The company's lead product candidate, RAP-219, is an AMPA receptor negative allosteric modulator designed to selectively target TARP8, a receptor-associated protein expressed primarily in the neocortex and mesial temporal lobe where focal onset seizures originate. RAP-219 has demonstrated positive results in Phase 2a proof-of-concept trials in adult patients with drug-resistant focal onset seizures and is being evaluated for additional indications including primary generalized tonic-clonic seizures and bipolar mania. The company is advancing RAP-219 toward Phase 3 clinical development and is also developing a long-acting injectable formulation to improve patient adherence.

Beyond RAP-219, Rapport has two advanced discovery-stage nicotinic acetylcholine receptor programs. The alpha-6-beta-4 nAChR program, represented by development candidate RAP-641, targets chronic pain and migraine through a non-opioid, non-CNS mechanism. The alpha-9-alpha-10 nAChR program focuses on potential therapies for hearing and vestibular disorders.

The company leverages its RAP technology platform through two distinct strategies: directly targeting RAPs as drug targets for neuroanatomical specificity, and using RAPs to unlock previously inaccessible receptors for drug discovery. Rapport maintains an exclusive global license agreement with Janssen Pharmaceutical NV for certain TARP8 and nAChR projects, providing access to foundational intellectual property and know-how that support its pipeline development.

Company details
Sector
Healthcare
Industry
Pharmaceutical Preparations
Headquarters
BOSTON, MA
Fiscal year end
December
CIK
2012593
SIC
2834

Financial performance, year by year

Fiscal 2024–2025 · USD
$-143.05M$-125.39M$-107.73M$-90.08M$-72.42M20242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Rapport Therapeutics, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

173
funds hold it
0 of 35
superinvestors hold it
$570.92M
held by funds, at market
29.5%
of shares held by funds

Largest fund holders · Rapport Therapeutics, Inc.’s weight in each

0.15%of fund net assets
Fidelity Growth Company Fund
FDGRX · Fidelity Mt. Vernon Street Trust
0.09%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
Fidelity Growth Company K6 Fund
FGKFX · Fidelity Mt. Vernon Street Trust
0.10%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

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