Repare Therapeutics Q2 2020 Earnings Report
Key Takeaways
Repare Therapeutics reported a net loss of $11.8 million, or $2.45 per share, for the second quarter of 2020. The company completed an IPO in June, resulting in net proceeds of $232 million, and entered into a collaboration with Bristol Myers Squibb, receiving an upfront payment of $65 million.
Initiated a phase 1/2 clinical trial evaluating RP-3500 as a monotherapy and in combination with Pfizer's PARPi, talazoparib.
Repare closed an upsized IPO of 12,650,000 of its common shares, including the exercise in full of the underwriters’ option to purchase up to an additional 1,650,000 common shares, at a public offering price of $20.00 per share.
Repare entered into an exclusive, worldwide target discovery collaboration with Bristol Myers Squibb and received an upfront payment from Bristol Myers Squibb of $65 million in Q2 2020.
Repare appointed Ann D. Rhoads to its Board of Directors and as Chairperson of its Audit Committee.