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RAPT Therapeutics Announces $150 Million Private Placement at $0.85/Share, 90.4% Pre-Market Surge, and License Agreement with Shanghai Jemincare

Dec 23, 2024, 01:31 PM

RAPT Therapeutics has announced a $150 million private placement, which includes 176.5 million shares and warrants priced at $0.85 per share. The company also entered an exclusive license agreement with Shanghai Jemincare for its novel long-acting anti-IgE antibody, JYB1904 (RPT904). Under this agreement, RAPT will retain worldwide rights to the drug, excluding mainland China, Hong Kong, Macau, and Taiwan. Jemincare will receive a $35 million upfront payment and could earn up to $672.5 million in milestone payments. Following these announcements, RAPT's stock experienced a significant pre-market increase of 90.4% and was up 74% during trading hours.