Repare Therapeutics Inc (RPTX) Quarterly 10-Q Report

Repare Therapeutics Inc. (RPTX+1.18%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing reports that Repare Therapeutics had no revenue from collaboration agreements for the three months ended September 30, 2024, compared to $2.2 million for the same period in 2023. The decrease was primarily due to the termination of the Roche (RHHBY+1.05%) Agreement in May 2024.

Research and development expenses for the quarter were $28.4 million, down from $32.7 million in the previous year. This decrease was attributed to reduced costs in the camonsertib and lunresertib programs.

General and administrative expenses decreased to $6.4 million from $7.9 million, primarily due to lower personnel-related costs and reduced share-based compensation.

Repare announced a strategic reprioritization in August 2024, resulting in restructuring expenses of $1.5 million for the quarter, related to severance and termination benefits.

Net loss for the quarter was $34.4 million, compared to $18.9 million in the same quarter of the previous year, with the increase primarily due to the absence of revenue from collaboration agreements and restructuring expenses.

Cash and cash equivalents, including marketable securities, totaled $179.4 million as of September 30, 2024. Repare expects these funds to be sufficient to meet its operating and capital expenditure requirements into the second half of 2026.

Repare entered into a Common Shares Sales Agreement with TD Securities (USA) LLC (TD+1.38%) on November 7, 2024, allowing for the sale of up to $100 million in common shares.

The filing also details the company's ongoing clinical trials and collaborations, including the development of its product candidates lunresertib, camonsertib, RP-1664, and RP-3467.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Repare Therapeutics Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.