RAPT Therapeutics (RAPT) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic focus and pipeline development

• Focused on transformative therapies for high-value inflammatory disorders, with Ozureprobart as the lead asset targeting allergic diseases.

• Ozureprobart is a next-generation anti-IgE antibody designed for less frequent dosing and broader efficacy than current therapies.

• Expanded pipeline includes a next-generation CCR4 antagonist and ongoing collaborations with partners in China for asthma and CSU studies.

• Board and team strengthened with experienced industry leaders to support commercialization and drug development.

• Completed a $265 million follow-on offering, extending cash runway to mid-2028.

Clinical progress and milestones

• Phase 2b food allergy study (PRESTIGE) initiated, with top-line data expected in the first half of 2027.

• Positive phase 2 results in chronic spontaneous urticaria (CSU) support initiation of phase 3 studies in both the US and China in 2024.

• Partner JU in China completed a phase 2 asthma study and plans to start phase 3 trials in CSU and asthma this year.

• Multiple clinical milestones anticipated over the next two years, supported by a strong cash position.

• Enrollment for PRESTIGE is on track, with high investigator and patient interest across US, Canada, and Australia.

Differentiation and market opportunity

• Ozureprobart offers less frequent dosing (every 8–12 weeks) compared to Omalizumab (every 2–4 weeks), reducing injection burden.

• Higher potency and improved PK allow treatment of high-IgE and high-weight patients, addressing unmet needs excluded from Omalizumab label.

• Market research indicates payers value the improved compliance and broader efficacy, supporting a price premium over branded Omalizumab.

• Food allergy represents a $40B+ US market, with 17 million diagnosed patients and high socioeconomic burden.

• Omalizumab’s rapid uptake in food allergy highlights high unmet need and commercial potential for next-generation therapies.