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Organization
6 Months Ended
Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization

1. Organization

Description of the Business

RAPT Therapeutics, Inc. (“RAPT” or the “Company”) is a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in inflammatory diseases and oncology. Utilizing its proprietary drug discovery and development engine, the Company develops highly selective small molecules that are designed to modulate the critical immune responses underlying these diseases.

The Company is located in South San Francisco, California.

Equity Financing

In May 2022, the Company completed the sale of pre-funded warrants to purchase 4,000,000 shares of its common stock at a price of $12.4999 per pre-funded warrant, which sale was done as a private investment in public equity ("PIPE") financing. Net proceeds received from the PIPE financing were approximately $49.8 million, after deducting $0.2 million of offering expenses. As of June 30, 2022, all of the pre-funded warrants issued in the PIPE financing were outstanding (see Note 8).