Rapport Therapeutics Q2 net loss $56.6M; initiates RAP-219 Phase 3 in focal seizures

Rapport Therapeutics, Inc.

Net loss $56.6M in Q2 2026 vs $26.7M in Q2 2025; R&D spend $51.4M (up from $22.7M).
Cash $436.1M at June 30, 2026, down from $476.8M at March 31; runway into H2 2029.
Phase 3 program for RAP-219 in focal onset seizures initiated (FOCUS 1 and FOCUS 2 enrolling).
Phase 2 bipolar mania trial topline results expected October 2026; RAP-219 half-life now 22 days.
IND approved in China for RAP-219 Phase 3 trials; RAP-641 IND-enabling activities continue.

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