The randomized, double-blind study involved 253 participants across the U.S. who were experiencing acute manic episodes. Data showed the treatment was well-tolerated by patients, with researchers reporting no serious adverse events during the trial period. These results provide the clinical proof-of-concept necessary for the company to advance toward late-stage testing.

Management intends to meet with the U.S. Food and Drug Administration early next year to review these findings and map out the design for registrational trials. Should the regulatory process proceed as planned, Rapport expects to launch Phase 3 studies in the second half of 2027. The rally offers a respite for the stock, which had faced a 6% decline throughout 2026 prior to this week's announcement.