Rapport Therapeutics' RAP-219 met the primary endpoint in a Phase 2 trial for bipolar I disorder, showing a 3.1-point improvement on the YMRS scale. Jefferies analyst Andrew Tsai estimates the bipolar mania indication represents over $1 billion in unpriced optionality. Shares rose 4% after an 84% premarket spike. The company plans to start Phase 3 in the second half of 2027.
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