The Life Sciences team advised Rapport Therapeutics, Inc. (Nasdaq: RAPP) ("Rapport" or the "Company") on the closing of an underwritten public offering of 9,615,385 shares of its common stock at a public offering price of $26.00 per share. Rapport has also granted the underwriters a 30-day option to purchase up to an additional 1,442,307 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $250 million, excluding any exercise of the underwriters' option to purchase additional shares.
Rapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological or psychiatric disorders. The Company's founders have made pioneering discoveries related to the function of receptor associated proteins (RAPs) in the brain. Their findings form the basis of Rapport's RAP technology platform, which enables a differentiated approach to generate precision small molecule product candidates with the potential to overcome many limitations of conventional neurology drug discovery. Rapport's precision neuroscience pipeline includes the Company's lead investigational drug, RAP-219, designed to achieve neuroanatomical specificity through its selective targeting of a RAP expressed in only discrete regions of the brain. The Company is currently pursuing RAP-219 as a potential treatment for drug-resistant focal onset seizures, bipolar mania and diabetic peripheral neuropathic pain. Additional preclinical and late-stage discovery stage programs are also underway, including targeting chronic pain and hearing disorders.
The Goodwin team was led by Stephanie Richards, Kingsley Taft, Kathryn Clerici and Cassidy Merten and included Julie Tibbets, Cathy McCarty, Dan Karelitz, Maggie Wong, Caroline Bullerjahn, Matt Wetzel, Jackie Klosek, Steve Tjoe, Miho Kaneko, Gregg Coughlin and Reema Moussa.
For more information on the deal, please read the press release.