RAPT Therapeutics is a clinical-stage biopharmaceutical company developing treatments for inflammatory, allergic, and immunological diseases, with a secondary oncology program. RAPT has no approved products and funds operations through equity raises and licensing transactions. RAPT's lead program, RPT904, is a next-generation anti-IgE monoclonal antibody in-licensed from Shanghai Jemincare, designed to block IgE, a key driver of allergic diseases. RPT904 is engineered as an improved version of omalizumab (Xolair), with a half-life roughly twice as long, which could enable less frequent dosing. RAPT plans to develop RPT904 in food allergy and chronic spontaneous urticaria, with a Phase 2b trial in food allergy in planning. RAPT paid Jemincare $35M upfront for ex-China rights, with up to $672.5M in additional milestones and tiered royalties owed if RPT904 reaches commercialization. RAPT's oncology program, tivumecirnon, is an oral CCR4 antagonist designed to block immunosuppressive regulatory T cells from entering tumors. Phase 1/2 trials are complete, and RAPT is seeking a partner to fund further development; Hanmi Pharmaceutical holds Korea and China rights. A third program, zelnecirnon, another oral CCR4 antagonist for asthma and atopic dermatitis, was terminated in late 2024 after a serious liver failure adverse event. RAPT has 68 employees, with roughly two-thirds in R&D roles, and will continue to consume cash until a product reaches commercialization.