RAPT Therapeutics Shares Surge

Shares of RAPT Therapeutics (NASDAQ:RAPT) rose sharply on Monday after the announcement of an exclusive licensing agreement with Shanghai Jemincare Pharmaceutical (TADAWUL:2070).

The agreement grants RAPT worldwide rights to develop and commercialize RPT904, a clinical-stage anti-immunoglobulin E (IgE) monoclonal antibody, excluding certain Asian territories.

Agreement Details

Under the terms, RAPT will pay Jemincare a $35 million upfront license fee. The deal also includes potential milestone payments up to $672.5 million and royalties on future sales outside the Jemincare Territory.

Strategic Partnership

This collaboration aims to develop RPT904 as a superior treatment option compared to omalizumab, which is currently approved for various allergic disorders.

Future Plans

RAPT plans to initiate a Phase 2b clinical trial of RPT904 for food allergies in the second half of 2025, recognizing the significant market potential following omalizumab's recent approval for food allergy treatment.

Additional News

In a separate announcement, RAPT Therapeutics disclosed a $150 million private placement expected to close on or around December 27.

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