RAPT Therapeutics Announces Significant Workforce Reduction Following Clinical Hold on Zelnecirnon Trials

1. Clinical Hold: The FDA placed a clinical hold on RAPT Therapeutics' Phase 2b trial of zelnecirnon in atopic dermatitis and its Phase 2a trial in asthma due to a serious adverse event of liver failure in one patient.
2. Workforce Reduction: RAPT Therapeutics plans to reduce its workforce by approximately 40%, representing 47 positions, following clinical troubles with zelnecirnon.
3. Trial Termination: RAPT Therapeutics has terminated two Phase II trials for zelnecirnon three months after the FDA placed a clinical hold on them.
4. Stock Impact: RAPT's stock has dropped by over 82% since the clinical hold was announced.
5. Alternative Candidate: The company's next most advanced candidate is tivumecirnon (FLX475), which is also a CCR4 agonist, being evaluated in an open-label Phase II trial for advanced head and neck squamous cell carcinoma.