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Dec 31, 2025
Replimune Q3 2026 Earnings Report
Reported a wider net loss driven by increased R&D spending to advance late-stage clinical programs.
Key Takeaways
Replimune reported a fiscal third-quarter net loss as it continued to invest heavily in clinical development and commercial readiness for RP1 ahead of a potential regulatory decision.
Net loss widened year over year due to higher operating expenses.
R&D spending increased to support the IGNYTE-3 Phase 3 study and RP2 programs.
SG&A expenses rose modestly as the company prepared for potential commercialization.
Cash position remained substantial, supporting operations into early 2027.
Forward Guidance
The company expects existing cash resources to fund operations into the first quarter of 2027, including potential commercialization activities.
Positive Outlook
- Cash runway extends into early 2027.
- Potential approval and launch of RP1 pending FDA decision.
- Late-stage clinical trials advancing across multiple indications.
- Commercial readiness activities already underway.
- Additional debt capital available upon regulatory milestones.
Challenges Ahead
- Continued operating losses expected in the near term.
- High R&D spending required to support Phase 3 trials.
- Regulatory approval for RP1 is not guaranteed.
- No product revenue expected prior to potential approval.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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