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    Assessing Rapport Therapeutics (RAPP) Valuation After Positive RAP-219 Phase 2a Epilepsy Data and Phase 3 Plans

    Simply Wall St·12/15/2025 00:20:31
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    Rapport Therapeutics (RAPP) just put RAP-219 squarely on investors radar, unveiling detailed Phase 2a epilepsy data at the American Epilepsy Society meeting that backs up earlier efficacy signals and clarifies the path toward pivotal Phase 3 trials.

    See our latest analysis for Rapport Therapeutics.

    The latest RAP-219 update lands on top of already strong momentum, with a roughly 24 percent 1 month share price return and a year to date share price return of about 65 percent. This suggests investors are steadily repricing Rapport for higher long term growth potential.

    If RAP-219's progress has you reassessing CNS and epilepsy plays, it is a good time to scan other specialist names using our curated healthcare stocks.

    With shares already up more than 60 percent year to date but still trading at a steep discount to analyst targets, is Rapport a misunderstood CNS innovator trading below its potential, or is the market already discounting years of future growth?

    Price to Book of 2.8x: Is it justified?

    Rapport Therapeutics trades at a 2.8x price to book multiple, which looks inexpensive versus similar peers but slightly rich compared to the broader US pharma group.

    The price to book ratio compares a company’s market value to its net assets, a useful lens for early stage biotechs that have little to no revenue and are valued primarily on their pipeline and balance sheet strength.

    Against a 6x peer average, RAPP’s 2.8x multiple signals investors are paying a discount price relative to other CNS focused developers, even though the company is still unprofitable and forecast to remain loss making over the next three years.

    However, the same 2.8x multiple is marginally above the 2.6x US pharmaceuticals industry average, which underscores that the real debate is whether Rapport’s differentiated AMPAR targeting platform deserves a sector premium despite zero revenue today.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price to book of 2.8x (ABOUT RIGHT)

    However, downside risks remain, including potential Phase 3 disappointments for RAP-219 and sustained cash burn if broader CNS indications take longer to validate.

    Find out about the key risks to this Rapport Therapeutics narrative.

    Build Your Own Rapport Therapeutics Narrative

    If you see the story differently or want to dig into the numbers yourself, you can shape a custom view in minutes. Do it your way.

    A great starting point for your Rapport Therapeutics research is our analysis highlighting 4 important warning signs that could impact your investment decision.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.