GSK Acquires Rapt Therapeutics in $2.2 Billion Deal, Bolstering Biotech Portfolio
GSK has agreed to acquire Rapt Therapeutics for $58 per share in an all-cash transaction valued at $2.2 billion, marking a significant MOVE in the biotech sector. The deal, expected to close in Q1 2026, grants GSK access to ozureprubart, a promising anti-IgE antibody in phase 2b development for food allergy protection. The acquisition price represents a premium to Rapt’s previous market cap of $1.6 billion, with GSK’s net cash commitment standing at $1.9 billion.
Rapt Therapeutics’ stock surged 65.76% in the past week following the announcement, now trading at $57.57, just shy of its 52-week high. Leerink Partners downgraded RAPT from Outperform to Market Perform, setting a price target of $58, aligning with the acquisition price. The transaction underscores GSK’s strategic focus on expanding its pipeline in allergy treatments, leveraging Rapt’s innovative 12-week dosing solution against current bi-weekly injections.
