$RAPT
RAPT Therapeutics, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024027594 Filed on March 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.453M $26.06M
YoY Change 29.66% 28.75%
% of Gross Profit
Research & Development $24.78M $26.76M $101.0M
YoY Change -3.1% 37.58% 50.56%
% of Gross Profit
Depreciation & Amortization $314.0K $323.0K $1.216M
YoY Change 5.02% 28.17% 16.14%
% of Gross Profit
Operating Expenses $32.52M $33.22M $127.1M
YoY Change 3.03% 35.96% 45.51%
Operating Profit -$32.52M -$127.1M
YoY Change 3.03% 48.1%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.997M $2.341M $10.26M
YoY Change -12.83% 58.18% 424.48%
Pretax Income -$30.88M -$116.8M
YoY Change 34.53% 39.31%
Income Tax
% Of Pretax Income
Net Earnings -$30.52M -$30.88M -$116.8M
YoY Change 4.27% 34.53% 39.31%
Net Earnings / Revenue
Basic Earnings Per Share -$0.79 -$3.05
Diluted Earnings Per Share -$0.79 -$0.80 -$3.05
COMMON SHARES
Basic Shares Outstanding 34.80M 34.40M 38.34M
Diluted Shares Outstanding 38.63M 38.34M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $141.6M $158.9M $158.9M
YoY Change -38.88% -36.22% -36.22%
Cash & Equivalents $45.32M $47.48M $47.48M
Short-Term Investments $96.26M $111.4M $111.4M
Other Short-Term Assets $6.781M $2.920M $2.920M
YoY Change 129.24% -19.47% -19.47%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $148.4M $161.8M $161.8M
YoY Change -36.76% -35.98% -35.98%
LONG-TERM ASSETS
Property, Plant & Equipment $2.239M $2.448M $7.676M
YoY Change -25.34% -3.58% -19.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $447.0K $3.871M $3.871M
YoY Change -89.39% -4.09% -4.09%
Total Long-Term Assets $7.458M $11.55M $11.55M
YoY Change -45.72% -14.56% -14.56%
TOTAL ASSETS
Total Short-Term Assets $148.4M $161.8M $161.8M
Total Long-Term Assets $7.458M $11.55M $11.55M
Total Assets $155.8M $173.3M $173.3M
YoY Change -37.25% -34.89% -34.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.771M $5.176M $5.176M
YoY Change -24.27% 53.82% 53.82%
Accrued Expenses $11.81M $14.10M $16.55M
YoY Change 14.1% 62.93% 52.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.17M $21.84M $21.84M
YoY Change -2.04% 53.52% 53.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.815M $4.458M $4.458M
YoY Change -38.94% -34.62% -34.62%
Total Long-Term Liabilities $3.815M $4.458M $4.458M
YoY Change -38.94% -34.62% -34.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.17M $21.84M $21.84M
Total Long-Term Liabilities $3.815M $4.458M $4.458M
Total Liabilities $24.98M $26.29M $26.29M
YoY Change -10.31% 24.95% 24.95%
SHAREHOLDERS EQUITY
Retained Earnings -$515.2M -$484.7M
YoY Change 29.72% 31.75%
Common Stock $646.0M $631.6M
YoY Change 4.66% 3.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.8M $147.0M $147.0M
YoY Change
Total Liabilities & Shareholders Equity $155.8M $173.3M $173.3M
YoY Change -37.25% -34.89% -34.89%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$30.52M -$30.88M -$116.8M
YoY Change 4.27% 34.53% 39.31%
Depreciation, Depletion And Amortization $314.0K $323.0K $1.216M
YoY Change 5.02% 28.17% 16.14%
Cash From Operating Activities -$27.08M -$27.75M -$97.00M
YoY Change 45.6% 21.47% 37.01%
INVESTING ACTIVITIES
Capital Expenditures $105.0K $67.00K $1.125M
YoY Change -86.17% 36.73% 33.14%
Acquisitions
YoY Change
Other Investing Activities $15.99M $20.71M $105.3M
YoY Change -38.65% -150.23% -335.77%
Cash From Investing Activities $15.89M $20.64M $104.1M
YoY Change -37.23% -150.01% -328.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.036M 458.0K 1.447M
YoY Change 7689.66% -99.39% -98.9%
NET CHANGE
Cash From Operating Activities -27.08M -27.75M -97.00M
Cash From Investing Activities 15.89M 20.64M 104.1M
Cash From Financing Activities 9.036M 458.0K 1.447M
Net Change In Cash -2.161M -6.657M 8.532M
YoY Change -131.68% -159.23% -42.81%
FREE CASH FLOW
Cash From Operating Activities -$27.08M -$27.75M -$97.00M
Capital Expenditures $105.0K $67.00K $1.125M
Free Cash Flow -$27.19M -$27.82M -$98.13M
YoY Change 40.43% 21.5% 36.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001673772
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
001-38997
CY2023 dei Entity Registrant Name
EntityRegistrantName
RAPT THERAPEUTICS, INC.
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-3313701
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
561 Eccles Avenue
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
CY2023 dei City Area Code
CityAreaCode
650
CY2023 dei Local Phone Number
LocalPhoneNumber
489-9000
CY2023 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2023 dei Trading Symbol
TradingSymbol
RAPT
CY2023 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
399000000
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
34797702
CY2023 dei Auditor Firm
AuditorFirmId
42
CY2023 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2023 dei Auditor Location
AuditorLocation
San Mateo, California
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47478000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38946000
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
111384000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
210122000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2920000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3626000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
161782000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
252694000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2448000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2539000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5228000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6940000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3871000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4036000
CY2023Q4 us-gaap Assets
Assets
173329000
CY2022Q4 us-gaap Assets
Assets
266209000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
5176000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3365000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14103000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8656000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2448000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2171000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
109000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
32000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
21836000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
14224000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4458000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6819000
CY2023Q4 us-gaap Liabilities
Liabilities
26294000
CY2022Q4 us-gaap Liabilities
Liabilities
21043000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34398312
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34398312
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34254314
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34254314
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
3000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
3000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
631611000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
613073000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
103000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-26000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-484682000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-367884000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
147035000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
245166000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
173329000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
266209000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1527000
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
101002000
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
67082000
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26060000
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20240000
CY2023 us-gaap Operating Expenses
OperatingExpenses
127062000
CY2022 us-gaap Operating Expenses
OperatingExpenses
87322000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-127062000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-85795000
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
10264000
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1957000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-116798000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-83838000
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-655000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
627000
CY2023 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
784000
CY2022 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-447000
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-116669000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-83658000
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-3.05
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-3.05
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-2.58
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-2.58
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38338161
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38338161
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32540406
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32540406
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
186380000
CY2022 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
49785000
CY2022 rapt Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
1392000
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
11264000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
627000
CY2022 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-447000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-83838000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
245166000
CY2023 rapt Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
1447000
CY2023 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
17091000
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-655000
CY2023 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
784000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-116798000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
147035000
CY2023 us-gaap Profit Loss
ProfitLoss
-116798000
CY2022 us-gaap Profit Loss
ProfitLoss
-83838000
CY2023 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
5736000
CY2022 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
296000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1216000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1047000
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
17091000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
11264000
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
655000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-627000
CY2023 rapt Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
2335000
CY2022 rapt Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
1760000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-871000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1421000
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7335000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3710000
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1527000
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2707000
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2097000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-97048000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-70771000
CY2023 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
161497000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
190856000
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
266755000
CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
146211000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1125000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
845000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
104133000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-45490000
CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1447000
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1392000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1447000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
131180000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8532000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14919000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38946000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24027000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47478000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38946000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8063000
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. Organization</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Description of the Business</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">RAPT Therapeutics, Inc. (“RAPT” or the “Company”) is a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in inflammatory diseases and oncology. Utilizing its proprietary drug discovery and development engine, the Company develops highly selective small molecules that are designed to modulate the critical immune responses underlying these diseases. The Company is located in South San Francisco, California.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Liquidity and Management Plans</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Since inception, the Company has incurred net losses and negative cash flows from operations. During the year ended December 31, 2023, the Company incurred a net loss of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">116.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and used $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">97.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of cash in operations. At December 31, 2023, the Company had cash and cash equivalents and marketable securities of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">158.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and working capital of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">139.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management plans to continue to incur substantial costs in order to conduct research and development activities and additional capital will be needed to undertake these activities. The Company intends to raise such capital through the issuance of additional equity, borrowings and strategic alliances with other companies. However, if such arrangements are not available at adequate levels or on acceptable terms, the Company would be required to significantly reduce operating expenses and delay or reduce the scope of or eliminate some of its development programs. Management believes that the Company’s current cash and cash equivalents and marketable securities will provide sufficient funds to enable the Company to meet its obligations for at least 12 months from the filing date of this report.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Management’s evaluation was based on the facts known as of the date of filing of this Annual Report on Form 10-K, including the impacts of the clinical hold that FDA has placed on the Phase 2b trial of zelnecirnon in AD and the Phase 2a trial in asthma.</span></p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-116800000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-97000000
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
158900000
CY2023Q4 rapt Working Capital
WorkingCapital
139900000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, management evaluates its critical accounting policies or estimates related to revenue recognition, clinical trial accruals, fair value of assets and liabilities and stock-based compensation. The Company bases its estimates on historical experience and market-specific or other relevant assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of expenses and revenue reported for each of the periods presented are affected by estimates and assumptions. Actual results could differ from such estimates or assumptions.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Other Risks and Uncertainties</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to a number of risks similar to other biopharmaceutical companies in the early stage, including, but not limited to, the need to obtain adequate additional funding, possible failure of preclinical testing or clinical trials, the need to obtain marketing approval for its product candidates, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of the Company’s products and protection of proprietary technology. If the Company does not successfully obtain regulatory approval, commercialize or partner any of its product candidates, it will be unable to generate revenue from product sales or achieve profitability.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents and marketable securities. Substantially all the Company’s cash is held by </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> financial institutions. Such deposits may, at times, exceed federally insured limits. The Company invests its cash equivalents in highly rated money market funds and short-term marketable securities comprising commercial paper, corporate bonds and U.S. government agency securities.</span></p>
CY2023 rapt Number Of Financial Institution
NumberOfFinancialInstitution
2
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
158676000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
142000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
39000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
158779000
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
47395000
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
47395000
CY2023Q4 rapt Marketable Securities At Amortized Cost
MarketableSecuritiesAtAmortizedCost
111281000
CY2023Q4 rapt Marketable Securities At Unrealized Gains
MarketableSecuritiesAtUnrealizedGains
142000
CY2023Q4 rapt Marketable Securities At Unrealized Losses
MarketableSecuritiesAtUnrealizedLosses
39000
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
111384000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
249461000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
45000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
726000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
248780000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
38658000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
38658000
CY2022Q4 rapt Marketable Securities At Amortized Cost
MarketableSecuritiesAtAmortizedCost
210803000
CY2022Q4 rapt Marketable Securities At Unrealized Gains
MarketableSecuritiesAtUnrealizedGains
45000
CY2022Q4 rapt Marketable Securities At Unrealized Losses
MarketableSecuritiesAtUnrealizedLosses
726000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
210122000
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
97039000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
14345000
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
111384000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2448000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4458000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11815000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10788000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9367000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8249000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2448000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2539000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1200000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1000000
CY2023Q4 rapt Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
7281000
CY2022Q4 rapt Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
3473000
CY2023Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
6303000
CY2022Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
4618000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
341000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
327000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
178000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
238000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14103000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8656000
CY2023 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
0
CY2022 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
0
CY2018Q2 rapt Additional Square Feet Area Of Laboratory And Office Facilities Under Lease
AdditionalSquareFeetAreaOfLaboratoryAndOfficeFacilitiesUnderLease
6378
CY2018Q2 rapt Increased Area Of Leased Premises
IncreasedAreaOfLeasedPremises
36754
CY2018Q2 rapt Lessee Operating Lease Extended Lease Term
LesseeOperatingLeaseExtendedLeaseTerm
2026-11
CY2015Q2 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2015Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022Q4 rapt Operating Lease Expiration Year
OperatingLeaseExpirationYear
2025-07
CY2022Q4 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P6M
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
2700000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0821
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2855000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2662000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2137000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7654000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
748000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6906000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5228000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6906000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
2300000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000
CY2023 us-gaap Lease Cost
LeaseCost
2900000
CY2022 us-gaap Lease Cost
LeaseCost
2200000
CY2023 rapt Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11556789
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10338814
CY2022Q2 rapt Beneficial Ownership Limitation Percentage Of Shares Outstanding Minimum
BeneficialOwnershipLimitationPercentageOfSharesOutstandingMinimum
0.0999
CY2022Q2 rapt Beneficial Ownership Limitation Percentage Of Shares Outstanding Maximum
BeneficialOwnershipLimitationPercentageOfSharesOutstandingMaximum
0.1999
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
20.20
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.82
CY2023Q4 rapt Share Based Compensation Arrangement By Share Based Payment Award Options Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateFairValue
24600000
CY2022Q4 rapt Share Based Compensation Arrangement By Share Based Payment Award Options Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateFairValue
16800000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
700000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1300000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
500000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
700000
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
15200000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
9700000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Payments
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPayments
0
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17091000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11264000
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
29200000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-116798000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-89223000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
5385000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-116798000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-83838000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.009
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.007
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.024
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.025
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.018
CY2022 us-gaap Effective Income Tax Rate Reconciliation Gilti Percent
EffectiveIncomeTaxRateReconciliationGiltiPercent
0.014
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.224
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.245
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.013
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
58248000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
52818000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
12601000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
9834000
CY2023Q4 rapt Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities And Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilitiesAndReserves
1234000
CY2022Q4 rapt Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities And Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilitiesAndReserves
983000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
6238000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3871000
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
689000
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
672000
CY2023Q4 rapt Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
1450000
CY2022Q4 rapt Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
1888000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
27290000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
11834000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
107750000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
81900000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
106652000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
80443000
CY2023Q4 rapt Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
1098000
CY2022Q4 rapt Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
1457000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1098000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1457000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2023 rapt Increase In Deferred Tax Assets In Process Research And Development
IncreaseInDeferredTaxAssetsInProcessResearchAndDevelopment
15500000
CY2022 rapt Increase In Deferred Tax Assets In Process Research And Development
IncreaseInDeferredTaxAssetsInProcessResearchAndDevelopment
11800000
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
26200000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
19000000.0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3663000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4434000
CY2023 rapt Unrecognized Tax Benefits Increases Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromPriorPeriodTaxPositions
-3000
CY2022 rapt Unrecognized Tax Benefits Increases Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromPriorPeriodTaxPositions
-1530000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1014000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
759000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4674000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3663000
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-116798000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-83838000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38338161
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38338161
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32540406
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32540406
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.05
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.05
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.58
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.58
CY2023 rapt Pre Funded Warrants To Purchase Common Stock
PreFundedWarrantsToPurchaseCommonStock
4000000
CY2022 rapt Pre Funded Warrants To Purchase Common Stock
PreFundedWarrantsToPurchaseCommonStock
4000000
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4135351
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3034556

Files In Submission

Name View Source Status
0000950170-24-027594-index-headers.html Edgar Link pending
0000950170-24-027594-index.html Edgar Link pending
0000950170-24-027594.txt Edgar Link pending
0000950170-24-027594-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img56847832_0.jpg Edgar Link pending
img56847832_1.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
img56847832_10.jpg Edgar Link pending
img56847832_11.jpg Edgar Link pending
img56847832_12.jpg Edgar Link pending
img56847832_13.jpg Edgar Link pending
img56847832_14.jpg Edgar Link pending
img56847832_15.jpg Edgar Link pending
img56847832_16.jpg Edgar Link pending
img56847832_17.jpg Edgar Link pending
img56847832_18.jpg Edgar Link pending
img56847832_2.jpg Edgar Link pending
img56847832_3.jpg Edgar Link pending
img56847832_4.jpg Edgar Link pending
img56847832_5.jpg Edgar Link pending
img56847832_6.jpg Edgar Link pending
img56847832_7.jpg Edgar Link pending
img56847832_8.jpg Edgar Link pending
img56847832_9.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
rapt-20231231.htm Edgar Link pending
rapt-20231231.xsd Edgar Link pending
rapt-ex10_21.htm Edgar Link pending
rapt-ex21_1.htm Edgar Link pending
rapt-ex23_1.htm Edgar Link pending
rapt-ex31_1.htm Edgar Link pending
rapt-ex31_2.htm Edgar Link pending
rapt-ex32_1.htm Edgar Link pending
rapt-ex32_2.htm Edgar Link pending
rapt-ex97.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
rapt-20231231_htm.xml Edgar Link completed