Rapport Therapeutics Inc

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 11, 2025

RAPP$25.96-0.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

(In thousands)

	For the yearended December 31,
	2024	2023
Cash flows from operating activities:
Net loss	$(78,307)	$(34,786)
Adjustments to reconcile net loss to net cash used in operating activities
Non-cash interest (income) expense	—	(6)
Depreciation and amortization	839	112
Net accretion of investments in marketable securities	(3,211)	(75)
Change in fair value of preferred stock tranche right liability	7,390	1,124
Non-cash lease expense	642	206
Stock-based compensation expense	10,235	3,525
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	(1,854)	(3,200)
Other assets	83	(240)
Accounts payable	(346)	856
Accrued expenses and other current liabilities	371	5,380
Operating lease liabilities	(670)	(144)
Net cash used in operating activities	(64,828)	(27,181)
Cash flows from investing activities
Purchases of short-term investments	(377,532)	(77,224)
Maturities of short-term investments	209,796	—
Purchases of property and equipment	(2,405)	(1,636)
Net cash used in investing activities	(170,141)	(78,860)
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	85,300
Proceeds from issuance restricted common stock	—	54
Repurchase of unvested restricted common stock	—	(4)
Proceeds from exercise of stock options	7	—
Payment of deferred offering costs	—	(134)
Net cash provided by financing activities	221,625	145,136
Net (decrease) increase in cash, cash equivalents, and restricted cash	(13,344)	39,095
Cash, cash equivalents, and restricted cash at beginning of period	70,254	31,159
Cash, cash equivalents, and restricted cash at end of period	$56,910	$70,254
Supplemental disclosure for noncash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$—	$2,290
Settlement of Series A preferred stock tranche right liability	$—	$11,465
Settlement of Series B preferred stock tranche right liability	$11,590	$513
Deferred offering costs included in accounts payable and accrued expenses at period end	$—	$177
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	$172	$123
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$56,805	$70,169
Restricted cash	$105	$85
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$56,910	$70,254

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.