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Rapport Navigates Rough IPO Market With Well-Received Offering

Rough Waters For Most That Have Gone Public In 2023

 
• By Mandy Jackson

Rapport Therapeutics launched an initial public offering in the middle of a proposed price range, and the CNS-focused company closed slightly above its IPO price on its first day of trading.

Leadership to success business, investment volatility metaphor, financial stock market fluctuation rising up and falling down concept, investors standing in paper boat on fluctuated market chart
Rapport sailed through a successful IPO and first day of trading • Source: Shutterstock

Rapport Therapeutics Inc. charted a path for its initial public offering and executed the IPO according to the plan it laid out for investors, reaping a slight reward on its first day of trading on 7 June during a period when other newly public biopharmaceutical companies have struggled to keep their heads above water.

Key Takeaways

  • Rapport raised $154m with a $136m IPO and concurrent $18m private placement and its stock performed well in its first day of trading.

  • The company’s offering was well received initially in a post-IPO market that has been tough for many of the drug developers that have gone public this year

Boston- and San Diego-based Rapport priced its offering of 8 million shares at $17 each on 6 June, right in the middle of a previously proposed range of $16-$18 per share, grossing $136m. The company concurrently sold another 1

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