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Jun 30, 2024
Repare Therapeutics Q2 2024 Earnings Report
Repare Therapeutics reported financial results for Q2 2024 and provided a business and clinical update.
Key Takeaways
Repare Therapeutics reported a net loss of $34.8 million, or $0.82 per share, for the second quarter ended June 30, 2024. The company's cash, cash equivalents, and marketable securities totaled $208.1 million as of June 30, 2024. Revenue from collaboration agreements was $1.1 million for the quarter.
Reiterated guidance on data readout from MYTHIC trial in Q4 2024.
Granted Fast Track designation by the FDA for lunresertib in combination with camonsertib in platinum-resistant ovarian cancer.
Presented positive initial data from Phase 1 MINOTAUR clinical trial at ESMO GI Congress 2024.
Dosed first patient in camonsertib monotherapy NSCLC expansion of Phase 1/2 TRESR clinical trial.
Repare Therapeutics
Repare Therapeutics
Forward Guidance
Repare Therapeutics expects to report data from approximately 20-30 patients in each cohort in the fourth quarter of 2024. Repare expects to report initial data from the TRESR trial in 2025. Initiation of a Phase 1 dose finding trial of RP-3467 is expected in the fourth quarter of 2024.
Positive Outlook
- Data readout from MYTHIC trial evaluating lunresertib and camonsertib in patients with platinum-resistant ovarian and endometrial cancers in Q4 2024
- Potential registrational clinical trial start in 2025
- Advance RP-1664 into a Phase 1/2 clinical trial in pediatric patients with high risk, recurrent neuroblastoma
- Company believes that its cash, cash equivalents, and marketable securities are sufficient to fund its current operational plans at least into mid-2026.