Rapport Therapeutics Inc 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from_____________________to_____________________Commission File Number: 001-42121 Rapport Therapeutics, Inc.(Exact Name of Registrant as Specified in its Charter) Delaware(State or other jurisdiction ofincorporation or organization)99 High Street, Suite 2100Boston, MA(Address of principal executive offices) (857) 321-8020 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☒ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of May 4, 2026, the registrant had 47,826,929 shares of common stock, $0.001 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)5Condensed Consolidated Balance Sheets5Condensed Consolidated Statements of Operations and Comprehensive Loss6Condensed Consolidated Statements of Stockholders’ Equity7Condensed Consolidated Statements of Cash Flows8Notes to Unaudited Condensed Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 3.Quantitative and Qualitative Disclosures About Market Risk38Item 4.Controls and Procedures38 PART II.OTHER INFORMATION Item 1.Legal Proceedings40Item 1A.Risk Factors40Item 2.Unregistered Sales of Equity Securities and Use of Proceeds99Item 3.Defaults Upon Senior Securities99Item 4.Mine Safety Disclosures99Item 5.Other Information99Item 6.Exhibits100Signatures101 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of theSecurities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). All statements other than statements of historical facts, including statements regarding our future results ofoperations and financial position, business strategy, product candidates, planned preclinical studies and clinical trials, results ofpreclinical studies, clinical trials, research and development costs, regulatory approvals, commercial strategy, timing and likelihoodof success, as well as plans and objectives of management for future operations, are forward-looking statements. These statementsinvolve known and unknown risks, uncertainties, and other important factors that are in some cases beyond our control and maycause our actual results, performance or achievements to be materially different from any future results, performance orachievements expressed or implied by the forward-looking statements. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “would,” “expect,”“plan,” “anticipate,” “could,” “intend,” “target,” “project,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negativeof these terms or other similar expressions. Forward-looking statements contained in this Quarterly Report may include, but are notlimited to, statements about: •our ability to identify, develop, and commercialize current and future product candidates based on our RAPtechnology platform;•the initiation, timing, p