RAPT Therapeutics Shares Rise on FDA Nod for Food Allergy Drug Trial
The biotech firm will advance its next-generation anti-IgE candidate, RPT904, to a Phase 2b study, targeting a multi-billion dollar market.
RAPT Therapeutics (NASDAQ: RAPT) has received a significant boost for its clinical pipeline, announcing that the to proceed with a Phase 2b trial for RPT904 in the treatment of food allergies. The news signals a critical step forward for the company as it advances a promising new therapy for a condition affecting millions.
The upcoming Phase 2b trial, dubbed "prestIgE," will be a randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of RPT904. RAPT Therapeutics has indicated that it expects to initiate the trial by the end of 2025, a timeline closely watched by investors and the medical community.
RPT904 is a next-generation, half-life extended anti-IgE molecule designed to target the same epitope as omalizumab (Xolair®), a currently approved treatment. However, RPT904 holds the potential for less frequent dosing—every 8 to 12 weeks compared to Xolair's 2 to 4 weeks—and may be suitable for patients with higher IgE levels who are currently ineligible for existing therapies. This differentiated profile could position RPT904 to capture a significant share of the food allergy market, which comprises an estimated .
Wall Street has responded positively to the developments. Ahead of the official announcement, from Market Perform, citing the promising outlook for RPT904. The analyst nearly doubled his price target on the stock to $37 from $16. The broader analyst consensus for RAPT Therapeutics remains a 'Moderate Buy', reflecting optimism about the drug's potential. With the path now clear for the Phase 2b trial, all eyes will be on the execution and eventual data readouts from the prestIgE study, which will be a pivotal catalyst for the company's future.