Rapt Therapeutics (RAPT) Stock: Pharma Giant GSK Pays $2.2 Billion for Biotech

TLDR

• GSK is buying Rapt Therapeutics for $58 per share in cash, valuing the deal at $2.2 billion
• RAPT stock climbed 65.76% over the past week following the acquisition announcement
• The purchase gives GSK rights to ozureprubart, a food allergy drug in phase 2b trials
• Leerink Partners cut RAPT to Market Perform with a $58 target after the buyout news
• Deal expected to close in Q1 2026 with GSK’s net commitment at $1.9 billion after cash

GSK struck a deal to acquire Rapt Therapeutics for $2.2 billion in total equity value. The British pharmaceutical company will pay $58 per share in cash through its Redrose Acquisition subsidiary.

The buyout triggered a massive rally in RAPT stock. Shares surged 65.76% in the past week to $57.57. The stock trades just below its 52-week high of $57.61.

GSK’s offer represents a premium to Rapt’s earlier $1.6 billion market cap. After accounting for net cash, GSK’s upfront payment totals $1.9 billion.

RAPT Therapeutics, Inc., RAPT

Leerink Partners adjusted its rating following the news. The firm downgraded RAPT from Outperform to Market Perform and lowered its price target to $58 from $60.

The Drug Behind the Deal

Ozureprubart stands at the center of this transaction. The anti-immunoglobulin E monoclonal antibody targets prophylactic protection against food allergens.

The drug candidate is currently moving through phase 2b clinical development. Results from this trial are expected in 2027.

GSK plans to launch a late-stage trial covering both adults and children at risk. The company sees ozureprubart as a potential game-changer in the food allergy space.

Current treatments require bi-weekly injections. Ozureprubart offers a 12-week dosing schedule instead. GSK Chief Scientific Officer Tony Wood described the candidate as a potentially best-in-class treatment.

Strategic Fit and Deal Structure

Leerink analysts pointed out GSK lacks clinical-stage anti-IgE antibodies. The company also has no ongoing trials in food allergy or urticaria. These are ozureprubart’s lead indications.

The minimal overlap suggests low regulatory risk for closing the deal. GSK will gain global rights to the drug, excluding mainland China, Macau, Taiwan, and Hong Kong.

The pharmaceutical company will also take on future milestone and royalty payments to Shanghai Jeyou Pharmaceutical. This Chinese firm is Rapt’s existing partner.

Rapt CEO Brian Wong said the transaction offers an attractive path forward. He highlighted GSK’s global development and commercialization infrastructure as key benefits.

Closing Timeline

The acquisition will proceed in two stages. GSK first launches a cash tender offer for all outstanding RAPT shares. After completion, a second-step merger will purchase any remaining shares at the same $58 price.

The deal is expected to close in the first quarter of 2026, subject to standard closing conditions.

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