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    RAPP

    Rapport Therapeutics, Inc.

    Company overview

    Market capitalization
    $1.60B
    Employees
    84
    Latest publication
    2026-09-29
    About Rapport Therapeutics, Inc.

    Rapport Therapeutics, Inc., operates as a clinical-stage biopharmaceutical company that focuses on the discovery and development of transformational small molecule medicines for patients suffering from central nervous system (CNS) disorders. The company's lead product candidate is receptor associated protein (RAP)-219, an investigational small molecule that is designed to inhibit TARPy8-containing AMPARs with picomolar affinity for the treatment of focal epilepsy and other CNS disorders, including peripheral neuropathic pain and bipolar disorder. It also develops nicotinic acetylcholine receptor (nAChR) programs, such as a6 nAChR to treat chronic pain and migraine; and a9a10 nAChR for the treatment of hearing/vestibular disorders. The company was formerly known as Precision Neuroscience NewCo, Inc. and changed its name to Rapport Therapeutics, Inc. in October 2022. Rapport Therapeutics, Inc. was incorporated in 2022 and is headquartered in Boston, Massachusetts.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Revenue0USD20,000,000USD0USD0USD0USD0USD720,000USD0USD
    Research Development51,414,000USD32,716,000USD30,258,000USD22,279,000USD22,680,000USD19,572,000USD17,199,000USD15,543,000USD
    Selling General Administrative9,392,000USD11,499,000USD8,251,000USD7,707,000USD6,816,000USD7,536,000USD6,322,000USD6,097,000USD
    Total Operating Expenses60,806,000USD43,988,000USD38,244,000USD29,986,000USD29,496,000USD27,108,000USD23,521,000USD21,640,000USD
    Operating Income-60,806,000USD-24,215,000USD-38,509,000USD-29,986,000USD-29,496,000USD-27,108,000USD-23,521,000USD-21,640,000USD
    Total Other Income Expense Net4,191,000USD4,358,000USD4,746,000USD3,061,000USD2,764,000USD3,045,000USD3,541,000USD4,103,000USD
    Interest Income4,191,000USD4,358,000USD4,746,000USD3,061,000USD2,764,000USD3,045,000USD3,541,000USD4,103,000USD
    Net Income-56,615,000USD-19,857,000USD-33,763,000USD-26,925,000USD-26,732,000USD-24,063,000USD-19,980,000USD-17,537,000USD
    Cost Of Revenue—227,000USD265,000USD256,000USD252,000USD244,000USD260,000USD219,000USD
    Gross Profit—19,773,000USD-265,000USD-256,000USD-252,000USD-244,000USD-260,000USD-219,000USD
    Net Interest Income—4,358,000USD4,746,000USD3,061,000USD2,764,000USD3,045,000USD3,541,000USD4,103,000USD
    Income Before Tax—-19,857,000USD-33,763,000USD-26,925,000USD-26,732,000USD-24,063,000USD-19,980,000USD-17,537,000USD
    Net Income From Continuing Ops—-19,857,000USD-33,763,000USD-26,925,000USD-26,732,000USD-24,063,000USD-19,980,000USD-17,537,000USD
    Ebit—-24,215,000USD-38,508,999USD-26,925,000USD-29,496,000USD-27,108,000USD-23,521,000USD-21,640,000USD
    Ebitda—-23,988,000USD-38,244,000USD-26,669,000USD-29,244,000USD-26,864,000USD-23,261,000USD-21,421,000USD
    Depreciation And Amortization—227,000USD264,999USD256,000USD252,000USD244,000USD260,000USD219,000USD
    Reconciled Depreciation—227,000USD265,000USD256,000USD252,000USD244,000USD260,000USD219,000USD
    Tax Provision——————0USD0USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Revenue0USD0USD0USD—
    Cost Of Revenue1,016,999USD839,000USD112,000USD15,000USD
    Gross Profit-1,016,999USD-839,000USD-112,000USD-15,000USD
    Research Development94,789,000USD60,935,000USD27,999,000USD9,115,000USD
    Selling General Administrative30,310,000USD22,120,000USD8,180,000USD1,365,818USD
    Total Operating Expenses125,099,000USD82,216,000USD36,067,000USD10,352,000USD
    Operating Income-125,099,000USD-83,055,000USD-36,179,000USD-10,367,000USD
    Interest Income13,616,000USD12,138,000USD2,527,000USD—
    Net Interest Income13,616,000USD12,138,000USD2,527,000USD—
    Income Before Tax-111,483,000USD-78,307,000USD-34,776,000USD-10,652,000USD
    Net Income-111,483,000USD-78,307,000USD-34,786,000USD-10,652,000USD
    Net Income From Continuing Ops-111,483,000USD-78,307,000USD-34,786,000USD—
    Ebit-125,099,000USD-78,307,000USD-34,776,000USD-10,367,000USD
    Ebitda-124,082,000USD-77,468,000USD-34,664,000USD-10,352,000USD
    Depreciation And Amortization1,017,000USD839,000USD112,000USD15,000USD
    Reconciled Depreciation1,017,000USD839,000USD112,000USD—
    Total Other Income Expense Net13,616,000USD4,748,000USD1,403,000USD-285,000USD
    Tax Provision—0USD10,000USD—
    Selling And Marketing Expenses——112,000USD—
    Interest Expense——0USD285,000USD
    Income Tax Expense——10,000USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets458,982,000USD497,597,000USD512,431,000USD535,323,000USD285,495,000USD302,053,000USD314,933,000USD331,144,000USD
    Cash And Equivalents63,612,000USD———————
    Cash And Short Term Investments436,077,000USD476,782,000USD490,539,000USD513,026,000USD260,447,000USD285,382,000USD305,280,000USD320,661,000USD
    Short Term Investments372,465,000USD398,726,000USD437,894,000USD261,667,000USD205,380,000USD227,778,000USD248,475,000USD281,347,000USD
    Total Current Assets446,856,000USD484,695,000USD498,561,000USD520,659,000USD270,242,000USD290,968,000USD309,802,000USD325,939,000USD
    Other Current Assets10,381,000USD7,855,000USD8,022,000USD7,633,000USD9,795,000USD5,586,000USD4,522,000USD5,278,000USD
    Other Non Current Assets1,057,000USD———————
    Total Liabilities36,056,000USD———————
    Total Current Liabilities28,424,000USD17,897,000USD19,049,000USD14,316,000USD11,879,000USD9,383,000USD8,767,000USD7,099,000USD
    Other Current Liabilities23,155,000USD———————
    Total Stockholder Equity422,926,000USD471,512,000USD484,653,000USD511,617,000USD263,512,000USD285,836,000USD305,427,000USD323,114,000USD
    Total Equity Including Noncontrolling Interest422,926,000USD———————
    Net Receivables293,000USD58,000USD——————
    Property Plant Equipment Net11,069,000USD11,845,000USD12,885,000USD13,596,000USD14,219,000USD10,874,000USD4,971,000USD5,016,000USD
    Accounts Payable2,796,000USD6,561,000USD4,190,000USD3,235,000USD3,176,000USD2,139,000USD1,954,000USD1,323,000USD
    Short Term Debt2,473,000USD2,615,000USD2,755,000USD2,482,000USD1,759,000USD1,008,000USD737,000USD720,000USD
    Common Stock48,000USD48,000USD48,000USD48,000USD37,000USD37,000USD37,000USD36,000USD
    Retained Earnings-311,700,000USD-255,085,000USD-235,228,000USD-201,465,000USD-174,540,000USD-147,808,000USD-123,745,000USD-103,765,000USD
    Accumulated Other Comprehensive Income-1,270,000USD-505,000USD546,000USD145,000USD-76,000USD-95,000USD-522,000USD400,000USD
    Total Liab—26,085,000USD27,778,000USD23,706,000USD21,983,000USD16,217,000USD9,506,000USD8,030,000USD
    Other Current Liab—8,721,000USD12,104,000USD8,599,000USD6,944,000USD6,236,000USD6,076,000USD5,056,000USD
    Capital Stock—48,000USD48,000USD48,000USD37,000USD37,000USD37,000USD36,000USD
    Cash—78,056,000USD52,645,000USD251,359,000USD55,067,000USD57,604,000USD56,805,000USD39,314,000USD
    Net Debt—-67,253,000USD-41,161,000USD-239,487,000USD-43,204,000USD-49,762,000USD-55,329,000USD-37,663,000USD
    Short Long Term Debt Total—10,803,000USD11,484,000USD11,872,000USD11,863,000USD7,842,000USD1,476,000USD1,651,000USD
    Property Plant Equipment Gross—13,775,000USD14,867,000USD15,314,000USD15,682,000USD12,084,000USD5,936,000USD5,721,000USD
    Common Stock Shares Outstanding—47,236,618shares46,978,223shares37,931,170shares35,444,635shares19,288,112shares19,288,112shares19,170,748shares
    Non Current Assets Total—12,902,000USD13,870,000USD14,664,000USD15,253,000USD11,085,000USD5,131,000USD5,205,000USD
    Non Current Liabilities Total—8,188,000USD8,729,000USD9,390,000USD10,104,000USD6,834,000USD739,000USD931,000USD
    Non Currrent Assets Other—1,057,000USD985,000USD1,068,000USD1,034,000USD211,000USD160,000USD189,000USD
    Net Working Capital—466,798,000USD479,512,000USD506,343,000USD258,363,000USD281,585,000USD301,035,000USD318,840,000USD
    Unclassified Non Current Liabilities—8,188,000USD8,729,000USD9,390,000USD10,104,000USD6,834,000USD——
    Unclassified Equity—727,006,000USD719,239,000USD712,841,000USD438,054,000USD433,665,000USD429,620,000USD426,407,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Assets512,431,000USD314,933,000USD155,423,000USD31,603,000USD
    Other Current Assets8,022,000USD4,522,000USD3,394,000USD109,000USD
    Total Liab27,778,000USD9,506,000USD181,057,000USD12,098,000USD
    Total Stockholder Equity484,653,000USD305,427,000USD-25,634,000USD19,505,000USD
    Other Current Liab12,104,000USD6,076,000USD5,631,000USD213,000USD
    Common Stock48,000USD37,000USD4,000USD31,000USD
    Capital Stock48,000USD37,000USD4,000USD4,000USD
    Retained Earnings-235,228,000USD-123,745,000USD-45,438,000USD-10,652,000USD
    Cash52,645,000USD56,805,000USD70,169,000USD31,159,000USD
    Cash And Short Term Investments490,539,000USD305,280,000USD147,478,000USD31,159,000USD
    Total Current Assets498,561,000USD309,802,000USD150,872,000USD31,268,000USD
    Total Current Liabilities19,049,000USD8,767,000USD8,803,000USD1,663,000USD
    Net Debt-41,161,000USD-55,329,000USD-68,023,000USD-20,724,000USD
    Short Term Debt2,755,000USD737,000USD670,000USD—
    Short Long Term Debt Total11,484,000USD1,476,000USD2,146,000USD10,435,000USD
    Short Term Investments437,894,000USD248,475,000USD77,309,000USD0USD
    Accounts Payable4,190,000USD1,954,000USD2,502,000USD1,450,000USD
    Property Plant Equipment Net12,885,000USD4,971,000USD4,000,000USD335,000USD
    Property Plant Equipment Gross14,867,000USD5,936,000USD4,127,000USD350,000USD
    Accumulated Other Comprehensive Income546,000USD-522,000USD4,000USD-31,000USD
    Common Stock Shares Outstanding46,978,223shares20,738,338shares18,078,814shares20,117,051shares
    Non Current Assets Total13,870,000USD5,131,000USD4,551,000USD335,000USD
    Non Current Liabilities Total8,729,000USD739,000USD172,254,000USD10,435,000USD
    Non Currrent Assets Other985,000USD160,000USD551,000USD—
    Net Working Capital479,512,000USD301,035,000USD142,069,000USD29,605,000USD
    Unclassified Non Current Liabilities8,729,000USD—172,254,000USD10,435,000USD
    Unclassified Equity719,239,000USD429,620,000USD19,792,000USD30,153,000USD
    Other Assets——1USD—
    Current Deferred Revenue——-2,502,000USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-19,857,000USD-33,763,000USD-26,925,000USD-26,732,000USD-24,063,000USD-19,980,000USD-17,537,000USD-18,121,000USD
    Depreciation227,000USD265,000USD256,000USD252,000USD244,000USD260,000USD219,000USD208,000USD
    Stock Based Compensation6,963,000USD5,691,000USD4,735,000USD4,389,000USD4,040,000USD3,208,000USD3,182,000USD2,354,000USD
    Other Non Cash Items371,000USD-501,000USD771,000USD391,000USD-25,000USD725,000USD-5,559,000USD-670,000USD
    Change To Account Receivables-58,000USD———0USD———
    Change In Working Capital-765,000USD3,607,000USD3,698,000USD-3,370,000USD-433,000USD1,341,000USD3,280,000USD-123,000USD
    Total Cash From Operating Activities-13,061,000USD-24,701,000USD-17,465,000USD-25,070,000USD-20,237,000USD-14,446,000USD-16,415,000USD-16,352,000USD
    Capital Expenditures-86,000USD-169,000USD-134,000USD-22,000USD-291,000USD-226,000USD-140,000USD-967,000USD
    Free Cash Flow-13,147,000USD-24,870,000USD-17,599,000USD-25,092,000USD-20,528,000USD-14,672,000USD-16,555,000USD-17,319,000USD
    Investments38,027,000USD-174,155,000USD-56,776,000USD22,596,000USD21,031,000USD31,930,000USD-53,041,000USD-107,104,000USD
    Total Cashflows From Investing Activities37,941,000USD-174,324,000USD-56,776,000USD22,596,000USD21,031,000USD31,930,000USD-53,041,000USD-107,104,000USD
    Total Cash From Financing Activities531,000USD311,000USD270,533,000USD-63,000USD5,000USD7,000USD-1,394,000USD159,353,000USD
    Sale Purchase Of Stock-5,000USD0USD0USD0USD-1,000USD0USD0USD0USD
    Change In Cash25,411,000USD-198,714,000USD196,292,000USD-2,537,000USD799,000USD17,491,000USD-70,850,000USD35,897,000USD
    Begin Period Cash Flow52,750,000USD251,464,000USD55,172,000USD57,709,000USD56,910,000USD39,419,000USD110,269,000USD74,372,000USD
    End Period Cash Flow78,161,000USD52,750,000USD251,464,000USD55,172,000USD57,709,000USD56,910,000USD39,419,000USD110,269,000USD
    Other Cashflows From Investing Activities37,941,000USD-174,324,000USD-204,000USD92,000USD436,000USD—3,771,000USD—
    Other Cashflows From Financing Activities-273,000USD311,000USD63,000USD—6,000USD7,000USD-53,041,000USD254,000USD
    Unclassified Investing Cash Flow-37,941,000USD174,324,000USD————-3,631,000USD—
    Issuance Of Capital Stock—-395,000USD269,834,000USD0USD0USD0USD-1,394,000USD159,070,000USD
    Unclassified Financing Cash Flow——270,470,000USD———51,647,000USD159,099,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Net Income-111,483,000USD-78,307,000USD-34,786,000USD-10,652,000USD
    Depreciation1,017,000USD839,000USD112,000USD16,364USD
    Stock Based Compensation18,855,000USD10,235,000USD3,525,000USD609,818USD
    Other Non Cash Items636,000USD4,821,000USD1,316,000USD5,295,818USD
    Change In Working Capital3,502,000USD-2,416,000USD2,652,000USD1,488,000USD
    Total Cash From Operating Activities-87,473,000USD-64,828,000USD-27,181,000USD-3,242,000USD
    Capital Expenditures-616,000USD-2,405,000USD-1,636,000USD-284,000USD
    Free Cash Flow-88,089,000USD-67,233,000USD-28,817,000USD-3,526,000USD
    Investments-186,857,000USD-170,141,000USD-78,860,000USD—
    Total Cashflows From Investing Activities-187,473,000USD-170,141,000USD-78,860,000USD-5,284,000USD
    Total Cash From Financing Activities270,786,000USD221,625,000USD145,136,000USD39,685,000USD
    Sale Purchase Of Stock-1,000USD0USD-4,000USD—
    Issuance Of Capital Stock269,439,000USD221,618,000USD145,274,000USD—
    Change In Cash-4,160,000USD-13,344,000USD39,095,000USD31,159,000USD
    Begin Period Cash Flow56,910,000USD70,254,000USD31,159,000USD—
    End Period Cash Flow52,750,000USD56,910,000USD70,254,000USD31,159,000USD
    Other Cashflows From Investing Activities-187,473,000USD3,211,000USD—-5,000,000USD
    Other Cashflows From Financing Activities270,786,000USD63,920,000USD145,086,000USD-5,284,000USD
    Unclassified Investing Cash Flow187,473,000USD—1,636,000USD—
    Unclassified Financing Cash Flow—157,705,000USD—44,969,000USD
    Net Borrowings——0USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.