Rapport Therapeutics, Inc. · NASDAQ:RAPP
Rapport Therapeutics — Corporate Update (October 2026)
26 slides from Rapport Therapeutics's corporate update, Oct 20, 2026
Slide 1: RAP-219 Phase 2 in Bipolar Mania Topline Results
Exhibit 99.2 R RAP AP--2 21 19 9 P Ph ha ase se 2 2 iin n B Biip pol ola ar r M Ma an niia a T Top oplliin ne e R Re esul sult ts s Webcast Presentation OCTOBER 20, 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. The words anticipate, believe, continue, could, estimate, expect, intend, may, plan, potential, pr
Slide 3: Agenda
Agenda Company and RAP-219 Overview 01 Abe Ceesay, Chief Executive Officer Bipolar Mania Phase 2 Trial Topline Results 02 Jeffrey Sevigny, MD, Chief Medical Officer KOL Perspective 03 Gary Sachs, MD, Founding Director, Bipolar Clinic and Research Program, Massachusetts General Hospital; Associate Cl
Slide 4: Company and RAP-219 Overview
Company and RAP-219 Overview Abe Ceesay Chief Executive Officer, Rapport
Slide 5: Phase 2 results support advancing RAP-219 to Phase 3 in bipolar mania
Phase 2 results support advancing RAP-219 to Phase 3 in bipolar mania Statistically significant Well tolerated improvement in mania symptoms Met primary endpoint: statistically significant All TEAEs mild or moderate; incidence was YMRS reduction vs placebo similar to placebo Greater improvement on a
Slide 6: RAP-219 circuit-selective approach to bipolar mania
RAP-219 circuit-selective approach to bipolar mania Targets glutamatergic hyperactivity in cortico-limbic networks Bipolar mania is characterized by increased glutamate levels Increased Cerebral Metabolism in Manic Patients a,b,c and hypermetabolism in cortico-limbic networks Relative to Healthy Con
Slide 7: Bipolar mania: large market underserved by current treatments
Bipolar mania: large market underserved by current treatments Metabolic and neurological side effects lead to U.S. patient population lack of compliance & limit long-term chronic use ~8M Adults (18+) with bipolar disorder 1L 2L 3L+ 490K 490K 660K ~3.6M Atypical APD or mood Add or switch to mood Tria
Slide 8: Patients need a new mechanism that can break the relapse cycle
Patients need a new mechanism that can break the relapse cycle Unmet need: an effective treatment for bipolar mania with a tolerability profile that supports adherence RAP-219 could break the cycle Novel mechanism (TARPγ8 AMPAR NAM) Statistically significant improvements in mania symptoms No evidenc
Slide 9: Clinical presentation of mania
Clinical presentation of mania CORE SYMPTOMS Elevated or irritable mood and raised energy, lasting a week or more Required for DSM-5 PLUS: 3 OR MORE OF THESE (4 if mood is only irritable) Grandiosity Pressured speech Racing thoughts Decreased need for sleep Distractibility Risky, high-consequence be
Slide 10: Bipolar Mania Phase 2 Trial Topline Results
Bipolar Mania Phase 2 Trial Topline Results Jeff Sevigny, M.D. Chief Medical Officer, Rapport 10
Slide 11: RAP-219 bipolar mania Phase 2 trial met primary and secondary endpoints; well tolerated
RAP-219 bipolar mania Phase 2 trial met primary and secondary endpoints; RAP-219 was well tolerated STATISTICALLY SIGNIFICANT IMPROVEMENT IN MANIC SYMPTOMS WITH CONSISTENT BENEFIT ACROSS ALL MEASURES All YMRS items favor 15.4 points 3.1 points 0.4 points 1 RAP-219 Four items with nominal placebo-adj
Slide 12: Phase 2 proof-of-concept trial in bipolar mania
Phase 2 proof-of-concept trial in bipolar mania 1 Week 3 Weeks 8 Weeks 56 Day Safety Follow up Period Up to 7 Day 21 Day Inpatient Treatment Period Weekly Following Last Dose Screening Period RAP-219 or Placebo Day -7 to Day -1 1 Day 1 to Day 21 22 Day 22 to Day 77 Start of End of End of Trial Treat
Slide 13: Patient disposition and analysis sets
Patient disposition and analysis sets 431 Total Screened 253 Randomized Placebo RAP-219 Randomized & Dosed: Reasons given for withdrawal of n=127 n=126 2 consent (RAP-219, placebo) : (Full and Safety analysis set) • personal reasons or subject decision (7, 2) Discontinued Treatment: 15 (11.8%) Disco
Slide 14: Patient demographic and baseline characteristics
Patient demographic and baseline characteristics Both arms balanced across key characteristics Placebo (N=127) RAP-219 (N=126) Age, years; mean (SD) 43.5 (11.7) 44.3 (11.4) Male; n (%) 68 (53.5%) 74 (58.7%) White; n (%) 67 (52.8%) 68 (54.0%) Black or African American; n (%) 54 (42.5%) 55 (43.7%) Wei
Slide 15: Statistically significant improvement on primary endpoint (YMRS)
Statistically significant improvement on primary endpoint (YMRS) 3.1 points improvement vs placebo at Week 3 (p=0.045) LS Mean Difference at Week 3: -12.3 -3.1 -15.4 p = 0.045 *p<0.05 vs placebo RAP-219 0 −7.0 −11.8 −15.4 Placebo 0 −6.2 −9.6 −12.3 −0.9 −2.2 −3.1* LSM Difference Efficacy analyses wer
Slide 16: Greater improvement on all YMRS single-item scores with RAP-219
Greater improvement on all YMRS single-item scores with RAP-219 Key items achieving nominal significance SINGLE-ITEM ANALYSIS SUMMARY Prespecified Exploratory Endpoint → All YMRS single-item scores numerically improved on RAP-219 vs placebo at Week 3 → Nominally significant improvements vs placebo:
Slide 17: Statistically significant improvement on secondary endpoint (CGI-BP-S Mania)
Statistically significant improvement on secondary endpoint (CGI-BP-S Mania) 0.4-point improvement vs placebo at Week 3 (p=0.024) LS Mean Difference at Week 3: -0.4 p = 0.024 *p<0.05 vs placebo RAP-219 0 −0.6 −1.0 −1.6 Placebo 0 −0.5 −0.8 −1.2 Efficacy analyses were performed using the Full Analysis
Slide 18: RAP-219 was well tolerated
RAP-219 was well tolerated All TEAEs mild or moderate; low rate of discontinuation due to TEAEs Treatment Period TEAE Summary Placebo (N=127) RAP-219 (N=126) Any TEAE, n (%) 67 (52.8) 65 (51.6) → The overall incidence of TEAEs and of psychiatric TEAEs leading to drug discontinuation 1 (0.8) 4 (3.2)
Slide 19: Topline results recap
Topline results recap RAP-219 met primary secondary endpoints and was well-tolerated STATISTICALLY SIGNIFICANT IMPROVEMENT IN MANIC SYMPTOMS WITH CONSISTENT BENEFIT ACROSS ALL MEASURES All YMRS items favor 15.4 points 3.1 points 0.4 points 1 RAP-219 Four items with nominal placebo-adjusted YMRS plac
Slide 20: Advancing RAP-219 in bipolar mania
Advancing RAP-219 in bipolar mania Regulatory and clinical activities underway to support Phase 3 trials NEXT STEPS MODELED PK / RECEPTOR OCCUPANCY Efficacy and safety data establish proof-of-concept for a novel, differentiated mechanism 1Q 2027 End-of-Phase 2 meeting anticipated 2H 2027 Phase 3 pro
Slide 21: KOL Perspective
KOL Perspective Gary Sachs, M.D. Founding Director, Bipolar Clinic and Research Program, Massachusetts General Hospital Assoc. Clinical Professor of Psychiatry, Harvard Medical School
Slide 22: Near-term Catalysts and Financial Overview
Near-term Catalysts and Financial Overview Troy Ignelzi Chief Financial Officer, Rapport
Slide 23: Multiple anticipated catalysts through 2027
Multiple anticipated catalysts through 2027 1 Cash balance of $436.1M (as of 6/30/26) expected to support Rapport into 2H 2029 1Q 2027 3Q 2027 End-of-Phase 2 2H 2027 RAP-219 meeting with FDA Phase 1 PK results RAP-219 Phase 3 program initiation RAP-219 1H 2027 Open-label long- 2H 2027 RAP-219 term s
Slide 24: Closing Remarks
Closing Remarks Abe Ceesay Chief Executive Officer, Rapport
Slide 25: Building a precision neuroscience franchise
Building a precision neuroscience franchise PIVOTAL-STAGE PIPELINE-IN-A-PRODUCT Program Preclinical Phase 1 Phase 2 Phase 3 Focal onset seizures Bipolar mania PGTCS PGTCS ~1.6M patients RAP-219 1 EPILEPSY Bipolar mania ~0.8M patients LAI 1 ~1.8M patients α6β4 α9α10 1 Based on 30-40% of patient popul
Slide 26: Questions & Answers
Questions & Answers
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