RAPT Therapeutics Inc (RAPT) News & EventsRAPTRAPT Therapeutics Inc

GSK Completes Acquisition of Rapt Therapeutics for Approximately $2.2 Billion

GSK plc (GSK) announced the completion of its previously announced acquisition of Rapt Therapeutics (RAPT), a California-based, clinical-stage biopharmaceutical company dedicated to developing novel therapies for patients living with inflammatory and immunologic diseases. The acquisition includes ozureprubart, a long-acting anti-immunoglobulin E monoclonal antibody, currently in phase IIb clinical development for prophylactic protection against food allergens. Data from the Phase IIb trial assessing use of ozureprubart as monotherapy is expected in 2027, with Phase III trials to be focused on both at-risk adult and pediatric populations, GSK stated. The total cash consideration for this acquisition amounts to an approximate aggregate equity value of $2.2B. Net of cash acquired, GSK's upfront investment is approximately $1.9B. The transaction gives GSK the global rights to the ozureprubart program, excluding mainland China, Macau, Taiwan and Hong Kong. GSK will also be responsible for success-based milestone and royalty payments for ozureprubart owed to RAPT's partner, Shanghai Jeyou Pharmaceutical Co., the company added.

Major Averages Drop as Trump Revives Tariff Threats

The major averages closed broadly lower as investors reacted to President Trump's renewed tariff threats against several European nations tied to his push for U.S. influence over Greenland. Worries are that the new threats have raised the potential of a broader trade conflict and prompted expectations of retaliatory measures from the European Union.Looking to commodities, gold was sharply higher as the "safe haven" asset surged past the $4,700 threshold to record highs, while oil also advanced as traders await more news out of Venezuela.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixand Warner Bros. Discoveryamended their agreement for Netflix's pending takeover of Warner Bros. toGSKRapt Therapeuticsfor $58 per shareMeanwhile,said that Pfizerwill exit their HIV specialist ViiV Healthcare3Mreportedand provided FY26 earnings and revenue growth guidanceMicronsigned aPowerchip Semiconductor Manufacturing Corporation's P5 fabrication site in Tongluo for $1.8B2. WALL STREET CALLS:Intelto Buy at Seaport Research and raised to Hold at HSBCBrinkerto Overweight at Morgan Stanley and initiated with a Buy at TD CowenPhilip Morristo Hold from Buy at JefferiesCienato Neutral at BofA after 200% advance in last yearDomino's Pizzato Equal Weight at Morgan Stanley3. AROUND THE WEB:Nvidiais investing $150M in AI inference startup Baseten, WSJ reportsMasterCardis considering investing in Zerohash afer its plan to buy the blockchain infrastructure company fell through, CoinDesk reportsChina has broadened a probe into PDD Holdingsafter its employees exchanged blows with regulators, dispatching investigators from various agencies to the company's Shanghai headquarters, Bloomberg reportsBaidu'sErnie AI assistant has surpassed 200 million monthly active users, reflecting rising competition among Chinese tech giants in AI, WSJ saysLululemonfounder and activist investor Chip Wilson is seeking to remove private equity firm Advent's influence from the company's board in an ongoing proxy contest, Semafor reports4. MOVERS:Corvushigher after announcingon its Phase 1 trial of soquelitinibImmunityBioincreases after providing an update on itswith FDA on its Anktiva pathwayNew Era Energygains after completing its acquisition of Sharon AI'sBakktlower after establishing anBitmine Immersionfalls afterof over 4.2M tokens5. EARNINGS/GUIDANCEOrion Energyraised itsForestar, with revenue beating consensus908 Devicesreportedand narrowed its guidance for FY25D.R. Horton, with Executive Chairman David Auld commenting, "The D.R. Horton team delivered a solid first quarter"KeyCorpand provided guidance for FY26INDEXES:The Dow fell 870.74, or 1.76%, to 48,488.59, the Nasdaq lost 561.06, or 2.39%, to 22,954.32, and the S&P 500 declined 143.15, or 2.06%, to 6,796.86.

Major Averages Broadly Lower, Gold Hits Record Highs

The major averages were broadly lower near noon following the long weekend. Markets are seeing sharp weakness and heightened volatility as investors react to President Trump's renewed tariff threats against several European nations, tied to his push for U.S. influence over Greenland, which have raised the threat of a broader trade conflict and prompted expectations of retaliatory measures from the European Union.Looking to commodities, gold was sharply higher, as the "safe haven" asset surged past the $4,700 threshold to record highs. Meanwhile, oil was also up over 1% as traders await more news out of Venezuela.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixand Warner Bros. Discoveryamended their agreement for Netflix's pending takeover of Warner Bros. toGSKRapt Therapeuticsfor $58 per share3Mreportedand provided FY26 earnings and revenue growth guidanceMicronsigned ato purchase Powerchip Semiconductor Manufacturing Corporation's P5 fabrication site in Tongluo for $1.8BHIIwason a 10-year, $25.4B Advanced Technology Support Program V multiple award2. WALL STREET CALLS:Intelto Buy at Seaport Research and raised to Hold at HSBCBrinkerto Overweight at Morgan Stanley and initiated with a Buy at TD CowenPhilip Morristo Hold from Buy at JefferiesCienato Neutral at BofA after 200% advance in last yearDomino's Pizzato Equal Weight at Morgan Stanley3. AROUND THE WEB:China has broadened a probe into PDD Holdingsafter its employees exchanged blows with regulators, dispatching investigators from various agencies to the company's Shanghai headquarters, Bloomberg reportsNvidiais growing its data center business while advancing personal and edge AI offerings, with a roadmap that extends from the current N1 and N1X platforms to the next-generation N2 and N2X systems, DigiTimes saysMicrosoftis preparing to launch a session-based ad-supported Xbox Cloud Gaming tier in 2026, Windows Central writesBaidu'sErnie AI assistant has surpassed 200 million monthly active users, reflecting rising competition among Chinese tech giants in AI, WSJ saysLululemonfounder and activist investor Chip Wilson is seeking to remove private equity firm Advent's influence from the company's board in an ongoing proxy contest, Semafor reports4. MOVERS:Corvushigher afterfrom its cohort 4 on its Phase 1 trial of soquelitinibImmunityBioincreases after providing an update on itswith FDA on its Anktiva pathwayNew Era Energygains afterof Sharon AI's 50% ownership interest in TCDCBakktlower after establishing anBitmine Immersionfalls afterof over 4.2M tokens5. EARNINGS/GUIDANCEOrion Energyfor FY26Forestar, with revenue beating consensus908 Devicesand narrowed its guidance for FY25D.R. Horton, with Executive Chairman David Auld commenting, "The D.R. Horton team delivered a solid first quarter"KeyCorpand provided guidance for FY26INDEXES:Near midday, the Dow was down 1.05%, or 517.22, to 48,842.11, the Nasdaq was down 1.36%, or 319.88, to 23,195.51, and the S&P 500 was down 1.16%, or 80.53, to 6,859.48.