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Dec 31, 2020
Repare Therapeutics Q4 2020 Earnings Report
Repare Therapeutics reported financial results for the fourth quarter and full year ended December 31, 2020.
Key Takeaways
Repare Therapeutics reported a net loss of $15.261 million, or $0.41 per share, for the quarter ended December 31, 2020. The company's cash and cash equivalents, restricted cash, and marketable securities totaled $333.9 million as of December 31, 2020.
Initiated patient recruitment of PARP-inhibitor combination arm of RP-3500 TRESR Phase 1/2 clinical trial.
Initiated IND-enabling studies for RP-6306, the Company’s CCNE-1 synthetic-lethal inhibitor program.
Phase 1 clinical trial for RP-6306 is anticipated to commence in 2Q 2021, reflecting a further accelerated timeline for clinical trial start.
Company to host Virtual Investor Day on Thursday, April 8th to detail RP-6306 clinical program and provide perspectives from two distinguished physicians
Repare Therapeutics
Repare Therapeutics
Forward Guidance
Repare Therapeutics anticipates initiating a Phase 1 clinical trial for RP-6306 in the second quarter of 2021 and expects to release initial results for the monotherapy portion of the RP-3500 trial in the second half of the year.
Positive Outlook
- Initiated a Phase 1/2 clinical trial evaluating RP-3500 as a monotherapy and in combination with Pfizer's PARPi, talazoparib, in patients with solid tumors.
- Advanced RP-6306, our CCNE-1 synthetic lethal inhibitor program, into IND enabling studies.
- The Company anticipates initiating a Phase 1 clinical trial for RP-6306 in the second quarter of 2021, ahead of its previously announced guidance, and plans to host a Virtual Investor Day on Thursday, April 8, 2021 to further discuss this program.
- Advanced the development of our earlier stage discovery programs
- The Company is now expected to initiate IND enabling studies in H1 2022 for its third synthetic lethal asset, its Polθ inhibitor program, versus previously announced guidance of H2 2021.
Challenges Ahead
- Unexpected safety or efficacy data observed during preclinical studies or clinical trials
- Clinical trial site activation or enrollment rates that are lower than expected
- Changes in expected or existing competition
- Changes in the regulatory environment
- The uncertainties and timing of the regulatory approval process