RAPT Therapeutics (NASDAQ:RAPT) experienced a dramatic 180% surge in its stock price on Monday. This spike followed the company’s announcement of a worldwide licensing agreement with Shanghai Jemincare, a Chinese pharmaceutical company, for an allergy drug candidate. Additionally, RAPT secured a $150 million private placement of its stock. The licensing deal and the private placement are significant financial moves for RAPT, potentially providing the company with the resources needed for further development and expansion. The stock’s volatility reflects investor reactions to these strategic partnerships and funding.
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