Filing Details

Accession Number:
0000929638-24-002235
Form Type:
13G Filing
Publication Date:
2024-06-19 20:00:00
Filed By:
Cormorant Asset Management
Company:
Rapport Therapeutics Inc.
Filing Date:
2024-06-20
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Cormorant Global Healthcare Master Fund 0 1,283,673 0 1,283,673 1,283,673 3.51%
Cormorant Global Healthcare GP 0 1,283,673 0 1,283,673 1,283,673 3.51%
Cormorant Private Healthcare Fund III 0 694,443 0 694,443 694,443 1.90%
Cormorant Global Healthcare GP III 0 694,443 0 694,443 694,443 1.90%
Cormorant Private Healthcare Fund IV 0 229,717 0 229,717 229,717 0.63%
Cormorant Global Healthcare GP IV 0 229,717 0 229,717 229,717 0.63%
Cormorant Private Healthcare Fund V 0 732,450 0 732,450 732,450 2.00%
Cormorant Global Healthcare GP V 0 732,450 0 732,450 732,450 2.00%
Cormorant Asset Management 0 2,940,283 0 2,940,283 2,940,283 8.04%
Bihua Chen 0 2,940,283 0 2,940,283 2,940,283 8.04%
Filing
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
SCHEDULE 13G
 
 
 
Under the Securities Exchange Act of 1934
 
 
 
(Amendment No.  __)*
 

 
Rapport Therapeutics, Inc.
 
 
(Name of Issuer)
 

 
Common Stock
 
 
(Title of Class of Securities)
 

 
75383L102
 
 
(CUSIP Number)
 

 
June 10, 2024
 
 
(Date of Event which Requires Filing of this Statement)
 


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ]            Rule 13d-1(b)
[x]            Rule 13d-1(c)
[ ]            Rule 13d-1(d)
___________________________________
*  The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

1
Names of Reporting Persons.
 
Cormorant Global Healthcare Master Fund, LP
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Cayman Islands

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
1,283,673 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
1,283,673 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,283,673 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
3.51%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
PN (Partnership)
 

1
Names of Reporting Persons.
 
Cormorant Global Healthcare GP, LLC
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
1,283,673 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
1,283,673 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,283,673 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
3.51%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
OO (Limited Liability Company)
 

1
Names of Reporting Persons.
 
Cormorant Private Healthcare Fund III, LP
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
694,443 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
694,443 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
694,443 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
1.90%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
PN (Partnership)
 

1
Names of Reporting Persons.
 
Cormorant Global Healthcare GP III, LLC
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
694,443 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
694,443 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
694,443 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
1.90%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
OO (Limited Liability Company)
 

     
1
Names of Reporting Persons.
 
Cormorant Private Healthcare Fund IV, LP
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
229,717 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
229,717 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
229,717 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
0.63%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
PN (Partnership)
 

1
Names of Reporting Persons.
 
Cormorant Global Healthcare GP IV, LLC
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
229,717 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
229,717 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
229,717 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
0.63%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
OO (Limited Liability Company)
 

1
Names of Reporting Persons.
 
Cormorant Private Healthcare Fund V, LP
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
732,450 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
732,450 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
732,450 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
2.00%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
PN (Partnership)
 

1
Names of Reporting Persons.
 
Cormorant Global Healthcare GP V, LLC
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
732,450 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
732,450 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
732,450 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
2.00%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
OO (Limited Liability Company)
 

1
Names of Reporting Persons.
 
Cormorant Asset Management, LP
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
Delaware

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
2,940,283 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
2,940,283 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
2,940,283 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
8.04%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
PN (Partnership)
 

1
Names of Reporting Persons.
 
Bihua Chen
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)            [ ]
 
(b)            [x]
3
SEC Use Only
4
Citizenship or Place of Organization.
 
United States

Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5  Sole Voting Power
 
0 shares
6  Shared Voting Power
 
2,940,283 shares
Refer to Item 4 below.
7  Sole Dispositive Power
 
0 shares
8  Shared Dispositive Power
 
2,940,283 shares
Refer to Item 4 below.

9
Aggregate Amount Beneficially Owned by Each Reporting Person
 
2,940,283 shares
 
Refer to Item 4 below.
 
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
    [ ] N/A
 
11
Percent of Class Represented by Amount in Row (9)*
 
8.04%
Refer to Item 4 below.
 
12
Type of Reporting Person (See Instructions)
 
IN (Individual)
 

Item 1.
(a)
Name of Issuer
 
Rapport Therapeutics, Inc.
 
(b)
Address of Issuer’s Principal Executive Offices
 
 
1325 Boylston Street, Suite 401, Boston, MA 02215

Item 2.
(a)
Name of Person Filing
 

Cormorant Global Healthcare Master Fund, LP
Cormorant Global Healthcare GP, LLC
Cormorant Private Healthcare Fund III, LP
Cormorant Private Healthcare GP III, LLC
Cormorant Private Healthcare Fund IV, LP
Cormorant Private Healthcare GP IV, LLC
Cormorant Private Healthcare Fund V, LP
Cormorant Private Healthcare GP V, LLC
Cormorant Asset Management, LP
Bihua Chen
 
(b)
Address of Principal Business Office or, if none, Residence
 
 
200 Clarendon Street, 52nd Floor
Boston, MA 02116
 
(c)
Citizenship
 
 
Cormorant Global Healthcare Master Fund, LP - Cayman Islands
Cormorant Global Healthcare GP, LLC - Delaware
Cormorant Private Healthcare Fund III, LP - Delaware
Cormorant Private Healthcare GP III, LLC – Delaware
Cormorant Private Healthcare Fund IV, LP - Delaware
Cormorant Private Healthcare GP IV, LLC - Delaware
Cormorant Private Healthcare Fund V, LP - Delaware
Cormorant Private Healthcare GP V, LLC - Delaware
Cormorant Asset Management, LP - Delaware
Bihua Chen - United States
 
(d)
Title of Class of Securities
 
Common Stock
 
(e)
CUSIP Number
 
75383L102

Item 3.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
[ ]
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b)
[ ]
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)
[ ]
Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)
[ ]
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)
[ ]
An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
(f)
[ ]
An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
(g)
[ ]
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
[ ]
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
[ ]
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
[ ]
A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J);
(k)
[ ]
Group, in accordance with §240.13d-1(b)(1)(ii)(K).

Item 4.
Ownership***
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(a)          Amount Beneficially Owned***

The information set forth in Row 9 on the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(a) for each such Reporting Person.

(b)          Percent of Class***

The information set forth in Row 11 on the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(b) for each such Reporting Person.

(c)          Number of shares as to which such person has: ***

(i)          sole power to vote or to direct the vote

(ii)          shared power to vote or to direct the vote

(iii)          sole power to dispose or to direct the disposition of

(iv)          shared power to dispose or to direct the disposition of

The information set forth in Rows 5 through 8 on the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(c) for each such Reporting Person.

*** Shares reported herein for Cormorant Asset Management, LP represent shares which are beneficially owned by Cormorant Global Healthcare Master Fund, LP (the “Master Fund”), Cormorant Private Healthcare Fund III, LP (“Fund III”), Cormorant Private Healthcare Fund IV, LP (“Fund IV”) and Cormorant Private Healthcare Fund V, LP (“Fund V”), as reported herein. Cormorant Global Healthcare GP, LLC, Cormorant Private Healthcare GP III, LLC, Cormorant Private Healthcare GP IV, LLC and Cormorant Private Healthcare GP V, LLC serve as the general partners of the Master Fund, Fund III, Fund IV and Fund V, respectively. Cormorant Asset Management, LP serves as the investment manager to the Master Fund, Fund III, Fund IV and Fund V. Bihua Chen serves as the managing member of Cormorant Global Healthcare GP, LLC, Cormorant Private Healthcare GP III, LLC, Cormorant Private Healthcare GP IV, LLC and Cormorant Private Healthcare GP V, LLC, and the general partner of Cormorant Asset Management, LP. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein.

The percentages reported herein with respect to the Reporting Persons’ holdings are calculated based upon: (i) a statement in the Issuer’s prospectus dated June 6, 2024 that there would be 36,576,457 shares of the Issuer’s Common Stock outstanding immediately after the closing of the Issuer’s initial public offering (assuming full exercise of the underwriters’ overallotment option) and the concurrent private placement, and (ii) a press release of the Issuer dated June 12, 2024 announcing that the initial public offering (including the full exercise of the underwriters’ overallotment option) and private placement had closed.

Item 5.
Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [  ].
Item 6.
Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8.
Identification and Classification of Members of the Group
Not applicable.
Item 9.
Notice of Dissolution of Group
Not applicable.
Item 10.
Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
Exhibits                          Exhibit
99.1                  Joint Filing Agreement by and among the Reporting Persons.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.
June 20, 2024
 
CORMORANT GLOBAL HEALTHCARE MASTER
 
FUND, LP
 
By:
Cormorant Global Healthcare GP, LLC
 
 
its General Partner
 
 
 
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
 
 
 
 
CORMORANT GLOBAL HEALTHCARE GP, LLC
 
 
 
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
 
 
 
 
CORMORANT PRIVATE HEALTHCARE FUND III, LP
 
By:
Cormorant Private Healthcare GP III, LLC
   
its General Partner
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT GLOBAL HEALTHCARE GP III, LLC
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT PRIVATE HEALTHCARE FUND IV, LP
 
By:
Cormorant Private Healthcare GP IV, LLC
   
its General Partner
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT GLOBAL HEALTHCARE GP IV, LLC
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT PRIVATE HEALTHCARE FUND V, LP
 
By:
Cormorant Private Healthcare GP V, LLC
   
its General Partner
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT GLOBAL HEALTHCARE GP V, LLC
     
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
     
 
CORMORANT ASSET MANAGEMENT, LP
 
By:
Cormorant Asset Management GP, LLC
 
 
its General Partner
 
 
 
 
By:
/s/ Bihua Chen
 
Bihua Chen, Managing Member
 
 
 
 
/s/ Bihua Chen
 
Bihua Chen