BUZZ-Rapport Therapeutics ticks up after commencing $250 mln equity offering

Reuters
Yesterday
BUZZ-Rapport <a href="https://laohu8.com/S/LENZ">Therapeutics</a> ticks up after commencing $250 mln equity offering

** Rapport Therapeutics' RAPP.O shares up 0.8% in extended trading as co looks to raise equity after its stock soared

** RAPP shares on Mon closed up ~119% at $31.47 after its seizure drug, RAP-219, met mid-stage trial goals

** After the bell, co commences $250 mln stock offering

** It intends to use net proceeds to primarily fund ongoing and planned clinical trials advancing RAP-219, other R&D and for working capital and other purposes, per the prospectus filing

** Goldman Sachs, Jefferies, TD Cowen and Stifel are joint bookrunners

** Boston-headquartered Rapport has ~36.5 mln shares outstanding for ~$1.1 bln current market cap

** Rapport, backed by Johnson & Johnson JNJ.N, went public in Jun 2024 after IPO priced at $17

** All 6 analysts are bullish on RAPP; median PT of $50 up from $35 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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