$1.56 Million Insider Cluster at RAPP After RAP-219 Phase 2 Success

Rapport Therapeutics, Inc. (RAPP:US) is a clinical-stage biotechnology company focused on discovering and developing small-molecule precision medicines for patients with neurological and psychiatric disorders. Its lead program, RAP-219, is a TARPγ8-selective AMPA receptor modulator being advanced in focal epilepsy and bipolar mania. As of late October 2026, Rapport has a market capitalization of approximately $1.27 billion.

Coordinated Insider Purchases

Insider activity at Rapport Therapeutics was strongly positive on October 21-22, 2026, with the Chairman, CFO, and multiple directors making open-market purchases totaling approximately $1.56 million:

• Steven Marc Paul (Chairman of the Board) purchased 35,714 shares at $27.28 per share for $972,567, increasing his holdings to 77,380 shares.

• John Maraganore (Independent Director) bought 9,411 shares at approximately $26.45 for $248,454, establishing a position of 9,411 shares.

• Troy A. Ignelzi (Chief Financial Officer) acquired 5,500 shares at $26.10 for $143,395, raising his holdings to 15,500 shares.

• Wendy B. Young (Director) purchased 3,789 shares at $26.39 for $99,816, increasing her holdings to 13,289 shares.

• Paul M. Silva (Independent Director) bought 3,680 shares at $27.075 for $99,461, establishing a position of 3,680 shares.

The participation of the Chairman and CFO alongside multiple independent directors carries meaningful weight. Their purchases came immediately after a major clinical readout, suggesting strong internal conviction in the company’s pipeline and current valuation.

Clinical Proof-of-Concept and Next Steps

On October 20, 2026, Rapport announced positive topline results from its Phase 2 trial of RAP-219 in adults with acute bipolar mania. The study met its primary and secondary endpoints, delivering a statistically significant 3.1-point placebo-adjusted improvement on the Young Mania Rating Scale (YMRS) at Week 3, along with improvement on the CGI-BP Severity of Mania scale. RAP-219 was well tolerated, with no severe treatment-emergent adverse events reported during the treatment period.

These results establish clinical proof-of-concept for RAP-219’s novel mechanism in bipolar mania and support plans to advance into Phase 3 trials (targeted for the second half of 2027 following an end-of-Phase 2 meeting with the FDA). The company is also progressing RAP-219 in focal epilepsy.

The insider purchases occurred in the days immediately following the Phase 2 announcement amid typical post-data share-price volatility.

Overall, this significant cluster buy by the Chairman, CFO, and multiple directors totaling approximately $1.56 million is a strong positive signal, reflecting high internal confidence in Rapport Therapeutics’ clinical progress and longer-term prospects after the successful bipolar mania readout.