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Replimune Group Inc. (REPL-2.66%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a net loss of $66.3 million compared to $51.1 million in the same quarter the previous year. The increase in net loss is attributed to higher research and development expenses and selling, general, and administrative expenses.
Research and development expenses increased to $48.0 million from $42.8 million in the prior year, primarily due to increased personnel costs and consulting expenses.
Selling, general, and administrative expenses rose to $18.0 million from $13.7 million, driven by increased sales and marketing costs and personnel-related expenses.
Replimune reported $536.5 million in cash, cash equivalents, and short-term investments as of December 31, 2024, which is expected to fund operations into the fourth quarter of 2026.
The company continues to focus on its proprietary RPx platform, with RP1 as its lead product candidate, and is conducting multiple clinical trials, including the IGNYTE trial for anti-PD1 failed melanoma.
Replimune is also developing additional product candidates, RP2 and RP3, with ongoing clinical trials targeting various cancer types.
The company has entered into agreements with Bristol-Myers Squibb and Regeneron for the supply of anti-PD-1 therapies used in combination with its product candidates.
Replimune acknowledges its dependence on positive clinical trial results and regulatory approvals to achieve commercialization and revenue generation.
The filing highlights the company's continued investment in its manufacturing facility in Framingham, Massachusetts, which is now operational and producing clinical trial material.
Replimune faces risks related to regulatory approval, competition, and intellectual property, as well as the need for additional capital to support its development programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Replimune Group Inc. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.