Rapt Therapeutics Stock Plummets, Terminates Asthma Trial Due To Patient's Liver Injury

On Monday, Rapt Therapeutics, Inc. RAPT stock is trading lower after the company announced it was terminating its zelnecirnon (RPT193) program.

Zelnecirnon was being evaluated in two randomized, placebo-controlled Phase 2 clinical trials in asthma and atopic dermatitis (AD).

Both trials were placed on FDA clinical hold in February 2024 due to a serious adverse event (SAE) of liver injury requiring a transplant in one patient in the AD trial.

No liver toxicity nor other treatment-related SAEs were reported in any other trial participant.

The company subsequently closed both studies before completing the planned enrollment.

Following FDA feedback, the company stopped its zelnecirnon program.

“We plan to continue advancing our next-generation CCR4 compounds with improved safety margins for inflammatory disease and expect to identify a new candidate in the first half of 2025. Additionally, we continue to actively pursue in-licensing opportunities for clinical-stage assets,” Rapt CEO Brian Wong said.

In July, Rapt Therapeutics laid off 47 people, or approximately 40% of the company’s headcount. The company expected the cash payments related to the restructuring to be substantially completed by the end of the third quarter of 2024.

Price Action: Rapt stock is down over 46% at $1.54 at last check Monday.

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