Rapport Therapeutics, Inc.
For the period ended Dec 31, 2025. Filed Mar 10, 2026.
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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.
FY2025 · Filed Mar 10, 2026
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| For the yearended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(111,483) | $(78,307) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 1,017 | 839 |
| Net (accretion) and amortization of investments in marketable securities | (1,396) | (3,211) |
| Change in fair value of preferred stock tranche right liability | — | 7,390 |
| Non-cash lease expense | 2,032 | 642 |
| Stock-based compensation expense | 18,855 | 10,235 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (3,597) | (1,854) |
| Other assets | (791) | 83 |
| Accounts payable | 2,215 | (346) |
| Accrued expenses and other current liabilities | 6,166 | 371 |
| Operating lease liabilities | (491) | (670) |
| Net cash used in operating activities | (87,473) | (64,828) |
| Cash flows from investing activities | ||
| Purchases of short-term investments | (354,784) | (377,532) |
| Maturities of short-term investments | 167,927 | 209,796 |
| Purchases of property and equipment | (616) | (2,405) |
| Net cash used in investing activities | (187,473) | (170,141) |
| 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 B convertible preferred stock, net of issuance costs paid | — | 63,913 |
| Proceeds from underwritten public offering, net of underwriter discounts and commissions and deferred offering costs | 269,439 | — |
| Proceeds from exercise of stock options | 1,348 | 7 |
| Repurchase of unvested restricted common stock | (1) | — |
| Net cash provided by financing activities | 270,786 | 221,625 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (4,160) | (13,344) |
| Cash, cash equivalents, and restricted cash at beginning of period | 56,910 | 70,254 |
| Cash, cash equivalents, and restricted cash at end of period | $52,750 | $56,910 |
| Supplemental cash flow information: | ||
| Supplemental disclosure for noncash investing and financing activities: | ||
| Settlement of Series B preferred stock tranche right liability | $— | $11,590 |
| 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 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $10,499 | $— |
| Offering costs included in accounts payable and accrued expenses at period end | $35 | $— |
| Purchases of property and equipment included in accounts payable and accrued expenses at period end | $20 | $172 |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $52,645 | $56,805 |
| Restricted cash | $105 | $105 |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $52,750 | $56,910 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.