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RAPT Therapeutics Gains 29% In 5 Days, FLX475 Phase 2 Data Due In Q2

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Shares of RAPT Therapeutics Inc. (RAPT) have gained nearly 29 percent over the last five trading days as the Company gears up for some near-term clinical milestones.

RAPT is a clinical-stage immunology-based biopharmaceutical company focusing on oncology and inflammatory diseases.

The Company has two lead oral compounds, FLX475 for oncology and RPT193 for allergic inflammatory disease.

FLX475 is under a phase I/II trial as a monotherapy and in combination with Merck's (MRK) Keytruda in patients with "charged" tumors", including virally-associated cancers, gastric cancer, non-small cell lung cancer, triple-negative breast cancer, and head and neck cancers.

There was encouraging clinical activity in phase I portion of the FLX475 study. The results from the phase II portion of the trial are expected in the second quarter of 2020.

Last month, RAPT signed a license and collaboration agreement with Hanmi Pharmaceutical for the development and commercialization of FLX475 in Korea and China, including Taiwan and Hong Kong.

Hanmi will also conduct a phase II clinical trial in Korea and China to evaluate FLX475 in patients with gastric cancer.

Next up in the pipeline is RPT193, which is under a phase I clinical trial for the treatment of atopic dermatitis. The Company expects to report data from this proof of concept (PoC) study in the third quarter of 2020.

The Company, formerly known as FLX Bio, went public on the Nasdaq Global Market on October 31, 2019, offering its shares at a price of $12 each.

RAPT has thus far hit a low of $11.85 and a high of $42.00. The stock closed Wednesday's (Jan.15, 2020) trading at $36.75, up 17.45%. The IPO lockup expires on April 28, 2020.

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