Rapport Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share data)
| For the three monthsended September 30, | For the nine months ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating expenses | ||||
| Research and development (1) | $22,279 | $15,543 | $64,531 | $43,736 |
| General and administrative (2) | 7,707 | 6,097 | 22,059 | 15,798 |
| Total operating expenses | 29,986 | 21,640 | 86,590 | 59,534 |
| Loss from operations | (29,986) | (21,640) | (86,590) | (59,534) |
| Other income (expense): | ||||
| Interest income | 3,061 | 4,103 | 8,870 | 8,597 |
| Change in fair value of preferred stock tranche right liability | — | — | — | (7,390) |
| Total other income, net | 3,061 | 4,103 | 8,870 | 1,207 |
| Net loss | $(26,925) | $(17,537) | $(77,720) | $(58,327) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.71) | $(0.50) | $(2.15) | $(3.66) |
| Weighted-average common shares outstanding, basic and diluted | 37,931,170 | 34,855,907 | 36,223,887 | 15,925,777 |
| Comprehensive loss: | ||||
| Net loss | $(26,925) | $(17,537) | $(77,720) | $(58,327) |
| Change in unrealized gains on investments, net of tax | 221 | 583 | 667 | 396 |
| Total other comprehensive income (loss) | 221 | 583 | 667 | 396 |
| Comprehensive loss | $(26,704) | $(16,954) | $(77,053) | $(57,931) |
(1)
Includes related party amounts ofzero for each of thethree months ended September 30, 2025 and 2024, andzero and less than$0.1 million for the nine months ended September 30, 2025 and 2024, respectively (see Note 10).
(2)
Includes related party amounts ofzero for each of thethree months ended September 30, 2025 and 2024, andzero and$0.1 million for the nine months ended September 30, 2025 and 2024, respectively (see Note 10).
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