Rapport Therapeutics (RAPP) Operating Expenses (2023 - 2026)

Rapport Therapeutics (RAPP) reported Operating Expenses of $44.2 million for Q1 2026, up 63.11% year-over-year from $27.1 million in Q1 2025, and up 14.82% quarter-over-quarter from $38.5 million in Q4 2025.

Rapport Therapeutics (RAPP) Operating Expenses (2023 - 2026) Analysis & Trends

Rapport Therapeutics (RAPP) has 4 years of Operating Expenses data on file, last reported at $44.2 million in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $44.2 million, up 63.11% year-over-year; the trailing twelve-month figure through Mar 2026 was $142.2 million (up 52.8% YoY), and the FY2025 annual result was $125.1 million, up 50.62% from the prior year.
  • Operating Expenses climbed to $44.2 million in Q1 2026 per RAPP's latest filing, from $38.5 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $44.2 million in Q1 2026 and troughed at $6.6 million in Q2 2023.
  • A 4-year average of $23.6 million and a median of $22.6 million in 2024 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 213.73% in 2024, then soared 38.57% in 2025.
  • A 4-year view of Operating Expenses shows it stood at $14.8 million in 2023, then surged by 58.99% to $23.5 million in 2024, then jumped by 63.72% to $38.5 million in 2025, then increased by 14.82% to $44.2 million in 2026.
  • Business Quant data shows RAPP's Operating Expenses at $44.2 million in Q1 2026, $38.5 million in Q4 2025, and $30.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Alterity Therapeutics 762,369.55 Bn 762,369.51 Bn - 4.33 Mn
2 Belite Bio 55,096.00 Bn 55,096.00 Bn - 32.68 Mn
3 Quantum Biopharma 17,755.80 Bn 17,755.79 Bn - 2.97 Mn
4 Legend Biotech 3,486.00 Bn 3,485.71 Bn 242.10 Mn -138.30 Mn
5 Akari Therapeutics 1,737.42 Bn 1,737.41 Bn - 15.76 Mn
6 Evaxion A 1,551.28 Bn 1,551.26 Bn - -3.82 Mn
7 Psyence Biomedical 227.32 Bn 227.31 Bn - 574,669.00
8 Vertex Pharmaceuticals 110.84 Bn 103.59 Bn 2.59 Bn 1.85 Bn
9 Abivax 91.71 Bn 91.71 Bn - -67.40 Mn
10 Rapport Therapeutics 1.66 Bn 1.66 Bn - 44.22 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 44.22 Mn
Dec 31, 2025 38.51 Mn
Sep 30, 2025 29.99 Mn
Jun 30, 2025 29.50 Mn
Mar 31, 2025 27.11 Mn
Dec 31, 2024 23.52 Mn
Sep 30, 2024 21.64 Mn
Jun 30, 2024 20.80 Mn
Mar 31, 2024 17.09 Mn
Dec 31, 2023 14.79 Mn
Sep 30, 2023 9.56 Mn
Jun 30, 2023 6.63 Mn