Rapport fell roughly 21% in premarket trading after pricing offerings totaling about $355 million: roughly $175 million of common stock, $150 million of convertible senior notes due 2032, and a separate $30 million private placement. The pricing follows the October 20 announcement of the proposed raises alongside positive Phase 2 data for RAP-219 in bipolar mania, with dilution now outweighing the clinical readout.
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