Rapport Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
RAPP$25.96-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| For the nine monthsended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(58,327) | $(21,267) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 579 | 59 |
| Net (accretion) and amortization of investments in marketable securities | (3,771) | — |
| Change in fair value of preferred stock tranche right liability | 7,390 | 1,030 |
| Non-cash lease expense | 477 | 52 |
| Stock-based compensation expense | 7,027 | 2,527 |
| Series A and B preferred stock issuance costs allocated to tranche right liabilities | — | 67 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (1,842) | (1,315) |
| Other assets | 51 | (125) |
| Accounts payable | (994) | 131 |
| Accrued expenses and other current liabilities | (477) | 2,003 |
| Operating lease liabilities | (495) | 14 |
| Net cash used in operating activities | (50,382) | (16,824) |
| Cash flows from investing activities | ||
| Purchases of short-term investments | (292,973) | — |
| Maturities of short-term investments | 93,081 | — |
| Purchases of property and equipment | (2,179) | (199) |
| Net cash used in investing activities | (202,071) | (199) |
| Cash flows from financing activities | ||
| Proceeds from initial public offering and concurrent private placement, net of underwriter discounts and commissions and deferred offering costs | 157,705 | — |
| Proceeds from issuance of Series A convertible preferred stock, net of issuance costs paid | — | 59,920 |
| Proceeds from issuance of Series B convertible preferred stock, net of issuance costs paid | 63,913 | 85,306 |
| Proceeds from issuance restricted common stock | — | 54 |
| Repurchase of unvested restricted common stock | — | (4) |
| Net cash provided by financing activities | 221,618 | 145,276 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (30,835) | 128,253 |
| Cash, cash equivalents, and restricted cash at beginning of period | 70,254 | 31,159 |
| Cash, cash equivalents, and restricted cash at end of period | $39,419 | $159,412 |
| Supplemental cash flow information: | ||
| Supplemental disclosure for noncash investing and financing activities: | ||
| Settlement of Series A preferred stock tranche right liability | $— | $11,465 |
| Settlement of Series B preferred stock tranche right liability | $11,590 | $581 |
| Deferred offering costs included in accounts payable and accrued expenses at period end | $— | $(6) |
| Conversion of Series A convertible preferred stock into common stock upon closing of initial public offering | $89,487 | $— |
| Conversion of Series B convertible preferred stock into common stock upon closing of initial public offering | $145,252 | $— |
| Purchases of property and equipment included in accounts payable and accrued expenses at period end | $17 | $208 |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $39,314 | $159,412 |
| Restricted cash | $105 | $— |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $39,419 | $159,412 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.