RAPT Therapeutics Files for $100 Million Offering

On 2/04/2020, RAPT Therapeutics filed the paperwork for a $99.3 million offering of its common stock. The South San Francisco based clinical stage company is focused on developing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases. RAPT trades on NASDAQ under the symbol “RAPT.”

The company's proprietary drug discovery and development engine has identified the cell surface receptor CCR4 as a drug target that potentially has broad applicability in oncology and inflammatory diseases. Receptors such as CCR4 bind to chemoattractant molecules called chemokines that orchestrate migration and homing of immune cells to specific tissues throughout the body. RAPT's lead oncology drug, FLX475, is currently in Ph I/II trials.

The company's lead anti-inflammation drug, RPT193, recently completed Ph Ia trials and is RAPT expects to begin Ph Ib trials this month. The company is developing RPT193 for the treatment of a broad range of allergic inflammatory diseases, the first of which is atopic dermatitis.

As of this writing, RAPT's shares were down 11% and the company had a market cap of $811 million.