Every material Form 8-K Rapport Therapeutics, Inc. has filed with the SEC since October 20, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Rapport Therapeutics reported a third-quarter 2026 net loss of $40.2 million, or $0.84 per share, compared with $26.9 million, or $0.71 per share, a year earlier, as research and development expense rose to $34.3 million. The company ended the quarter with $395.0 million in cash, cash equivalents and short-term investments and says its October and November 2026 financings, together with the September 30 balance, fund operations through the end of 2029. For shareholders, the larger loss sits alongside positive Phase 2 topline results for RAP-219 in bipolar mania, reported October 20, 2026.
Net loss was $40.2 million for the third quarter of 2026, versus $26.9 million a year earlier; loss per share was $0.84 versus $0.71.
R&D expense was $34.3 million versus $22.3 million, mainly from RAP-219 clinical development, including the Phase 3 FOS program.
Cash and short-term investments were $395.0 million at September 30, 2026, down from $436.1 million at June 30, 2026.
October 2026 offerings had aggregate net proceeds of approximately $410.7 million, and the company expects cash runway through the end of 2029.
Rapport Therapeutics closed an underwritten offering of common stock and pre-funded warrants and a $172.5 million offering of 2.25% convertible senior notes due 2032 on October 30, 2026. The company estimates net proceeds of about $215.7 million from the stock offering and $166.8 million from the notes, which it plans to use mainly to fund clinical trials of RAP-219, and it expects these funds plus existing cash to support operations through the end of 2029. Shareholders face dilution from the new shares and the potential conversion of the notes, and the company now carries a new debt obligation.
Stock offering: 8,333,334 firm shares at $21.00 each, plus 1,428,571 option shares exercised in full on October 28, 2026, and pre-funded warrants for up to 1,190,476 shares
Estimated net proceeds of $215.7 million from the stock offering and $166.8 million from the notes
$172.5 million of 2.25% convertible senior notes due December 1, 2032, with an initial conversion price of about $26.7750 per share
Notes offering closed October 30, 2026; the company says proceeds will fund operations through the end of 2029
Rapport Therapeutics said its 253-patient Phase 2 trial of RAP-219 in adults with acute bipolar mania met its primary endpoint, with a 3.1-point placebo-adjusted improvement in YMRS total score at Week 3 (p=0.045). The company plans to meet the FDA in the first quarter of 2027 and expects to start two Phase 3 trials in the second half of 2027, while the filing also reports that 24.6% of patients on RAP-219 discontinued treatment versus 11.8% on placebo.
Primary endpoint met: 3.1-point placebo-adjusted YMRS improvement at Week 3 (p=0.045); mean reduction of 15.4 points on RAP-219 versus 12.3 on placebo
Treatment-emergent adverse events were similar (51.6% RAP-219 vs 52.8% placebo); no serious adverse events were reported
Discontinuation of treatment: 24.6% on RAP-219 vs 11.8% on placebo; FDA meeting planned in Q1 2027
Cash, cash equivalents and short-term investments were $436.1 million as of June 30, 2026, expected to fund operations into the second half of 2029
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