RAPT Therapeutics (RAPT) Barclays 27th Annual Global Healthcare Conference 2025 summary

Strategic focus and asset acquisition

• Acquired RPT904, a long-acting anti-IgE omalizumab biobetter, with ex-China rights for development and commercialization.

• Targeting food allergy and chronic spontaneous urticaria (CSU) as primary indications, with plans to expand into asthma, allergic rhinitis, and chronic rhinosinusitis.

• Phase 2b study in food allergy to begin in the second half of 2024, with data expected in the first half of 2027.

• Jemincare, the partner company, will provide phase 2 data in asthma and CSU in the second half of 2024.

Market opportunity and competitive landscape

• Food allergy market estimated at $40 billion, with 33 million Americans affected; CSU market opportunity estimated at $5 billion.

• RPT904 aims to differentiate through less frequent dosing (Q8 or Q12 weeks) compared to current therapies.

• Prescribers and payers show enthusiasm for less frequent dosing, with potential for premium reimbursement.

• Competition includes omalizumab biosimilars and other anti-IgEs, but RPT904's extended half-life and similar epitope to omalizumab reduce technical risk.

Clinical development and product profile

• Phase 2b food allergy trial will use a multi-allergen oral food challenge design, initially enrolling adolescents and adults, with plans to include children.

• RPT904's extended half-life (60 days vs. 26 days for omalizumab) supports Q12 week dosing for most patients.

• Potential to treat patients excluded from Xolair due to high IgE or weight, expanding the addressable population.

• Jemincare's CSU trial results may enable direct progression to phase 3, accelerating time to approval.