Rapport Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update

• RAP-219’s lead program demonstrated robust and consistent activity in patients with focal onset seizures (FOS) in Phase 2a trial; initiation of Phase 3 program expected in the second quarter of 2026
• RAP- 219 epilepsy portfolio expanded with new program in primary generalized tonic-clonic seizures (PGTCS) on strength of Phase 2a FOS data
• Phase 2 trial in bipolar mania, development of a long-acting injectable, and other pipeline programs continued to progress
• Entered into a strategic collaboration and license agreement with Tenacia Biotechnology (Hong Kong) Co., Ltd. to develop and commercialize RAP-219 in Greater China across indications, including focal onset seizures and bipolar mania
• Ended the year with $490.5 million in cash, cash equivalents, and short-term investments, excluding restricted cash, which is expected to fund operations into the second half of 2029

BOSTON and SAN DIEGO, March 10, 2026 (GLOBE NEWSWIRE) -- Rapport Therapeutics, Inc. (Nasdaq: RAPP) (“Rapport” or the “Company”), a clinical-stage biotechnology company dedicated to the discovery and development of small molecule precision medicines for patients with neurological and psychiatric disorders, today reported financial results for the quarter and full year ended December 31, 2025, and provided a business update.

“2025 was a year of strong momentum for Rapport as we advanced our precision neuroscience pipeline and continued building what we believe can become a leading epilepsy portfolio. The compelling Phase 2a results in focal onset seizures strengthened our confidence in the program’s potential best-in-class profile and support our strategy to advance RAP-219 across multiple opportunities within epilepsy,” said Abraham N. Ceesay, chief executive officer of Rapport.

“We also continued to advance several other important initiatives, including our Phase 2 bipolar mania trial, development of a long-acting injectable formulation, and additional pipeline candidates - applying our precision medicine approach to areas of significant unmet need. During the year, we also significantly strengthened our balance sheet through a follow-on offering of our common stock, extending our cash runway and providing us with the financial flexibility to invest in our highest-priority programs.”

“With a focused strategy, strong financial foundation, and multiple catalysts ahead, we believe Rapport is well positioned to drive continued pipeline progress and create durable long-term value for patients and shareholders,” concluded Ceesay.

CORPORATE HIGHLIGHTS

RAP-219 in Epilepsy

• Robust Phase 2a Data in FOS Supports a Multi-Billion Market Opportunity. Market research indicates epileptologists and neurologists view RAP-219’s potential best-in-class profile as highly favorable, suggesting a greater than $2B commercial opportunity in the U.S., if approved.
  • Phase 2a clinical trial of RAP-219 in patients with drug-resistant FOS (n=30) met its primary long episode (LE) endpoints with high statistical significance, and patients achieved 77.8% median reduction in clinical seizure frequency (p=0.01), with 72% of patients achieving ≥50% reduction in clinical seizures compared with baseline (p