Rapport Therapeutics reported a net loss of $56.6 million for the quarter ended June 30, 2026, compared to $26.7 million in the prior year period. Research and development expenses increased to $51.4 million from $22.7 million, while selling, general and administrative expenses rose to $9.4 million from $6.8 million. The company ended the quarter with $436.1 million in cash, cash equivalents, and short-term investments, providing a runway into the second half of 2029. Key operational highlights include the initiation of Phase 3 trials FOCUS 1 and FOCUS 2 for RAP-219 in focal onset seizures, an IND approval from China's NMPA for these trials, and progress on a long-acting injectable formulation with initial Phase 1 data expected in 2027. The company also advanced its bipolar mania Phase 2 trial toward topline results in October 2026 and continued IND-enabling activities for RAP-641 in chronic pain and migraine. Rapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for neurological and psychiatric disorders.