RAPT Therapeutics Raises $125M Via Equity At 6% Discount

RAPT Therapeutics Inc RAPT has priced its previously announced underwritten public offering of 3.8 million shares at $33/share.
The price represents a 6% discount from last the close price of $35.19 on Tuesday.
Gross proceeds of approximately $125 million will be used to fund the R&D of FLX475, RPT193, and other potential future drug candidates, general & administrative expenses, and capital expenditures.
Underwriters have an option to purchase up to an additional 568k shares.
The offering will close by June 18.
Recently, the company announced positive data from Phase 1b trial of RPT193 in atopic dermatitis, demonstrating a 36.3% improvement from baseline in the Eczema disease severity score, compared to 17.0% in the placebo group.
RAPT plans to initiate a dose-ranging Phase 2b study in moderate-to-severe atopic dermatitis and a Phase 2a study in asthma with RPT193.
See the Offer Prospectus here.
Price Action: RAPT shares are down 2.67% at $34.25 during the premarket session on the last check Wednesday.