Stock Alert: Why Shares Of RAPT Therapeutics Are Surging 50%?

(RTTNews) - Shares of RAPT Therapeutics, Inc. (RAPT) are surging over 50% on Monday morning after the company reported positive topline results from early stage study for skin inflammation treatment.

RAPT is currently trading at $28.16, up $9.59 or 51.62%, on the Nasdaq.

The clinical-stage biopharmaceutical company announced positive topline results from its phase 1b clinical trial of RPT193 as monotherapy in 31 patients with moderate-to-severe atopic dermatitis.

After four weeks of treatment, patients with moderate-to-severe AD who received RPT193 showed a 36.3% improvement from baseline in the Eczema Area and Severity Index score, compared to 17.0% in the placebo group.

RPT193 was well tolerated with no serious adverse events. The company plans to to advance RPT193 to Phase 2b clinical trial in atopic dermatitis.