Rapport closes $215.7 million stock offering and $172.5 million convertible notes sale

Rapport Therapeutics closed its underwritten common stock offering and convertible notes offering on October 30, 2026, according to an 8-K filed the same day. The Common Stock Offering closed on October 30, 2026.¹ On October 28, 2026, the Equity Offering Underwriters exercised their option in full to purchase 1,428,571 Option Shares.¹ The Company estimates that the net proceeds from the Common Stock Offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, will be approximately $215.7 million, including proceeds from exercise of the Equity Offering Underwriters' option to purchase Option Shares.¹

On October 30, 2026, the Notes Offering closed and the Company issued an aggregate of $172,500,000 principal amount of the Notes, which included the Notes sold pursuant to the exercise in full by the Underwriters of their over-allotment option.¹ The net proceeds to the Company from the Notes Offering were approximately $166.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company.¹ A concurrent private placement also closed: the Company agreed to sell to the Investors 1,428,571 shares of the Common Stock at a price per share equal to the Offering Price, for an aggregate purchase price of approximately $30.0 million. The Private Placement closed on October 30, 2026.¹

The Company currently intends to use the net proceeds from the Offerings primarily to fund its ongoing and planned clinical trials advancing RAP-219, for other research and development, and for working capital and general corporate purposes, and believes that the net proceeds, together with its existing cash, cash equivalents and short-term investments, will enable it to fund its operations through the end of 2029.¹

The financing follows Rapport's October 20, 2026 announcement of positive Phase 2 topline results for RAP-219 in acute bipolar mania, in which the trial met its primary endpoint, with RAP-219 achieving a 3.1-point placebo-adjusted improvement in the Young Mania Rating Scale (YMRS) total score at Week 3 (mean reduction from baseline of 15.4 points with RAP-219 versus 12.3 points with placebo (p=0.045)²). Rapport plans to meet with the FDA in the first quarter of 2027 to discuss the Phase 2 data and registrational trial design for RAP-219 in bipolar mania, with initiation of two Phase 3 trials expected in the second half of 2027.² The Common Stock Offering was made pursuant to the Company's automatically effective shelf registration statement on Form S-3ASR, as supplemented by a final prospectus filed with the SEC on October 30, 2026.¹