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Dec 31, 2024
Repare Therapeutics Q4 2024 Earnings Report
Repare Therapeutics reported financial results for Q4 2024, highlighted by portfolio re-prioritization and workforce reduction to extend cash runway into late 2027.
Key Takeaways
Repare Therapeutics announced a restructuring to focus on Phase 1 clinical programs RP-1664 and RP-3467, reducing its workforce by approximately 75%. The company's cash runway extends into late 2027 with $152.8 million in cash and cash equivalents. Initial clinical readouts from the POLAR trial are expected in Q3 2025, and from the LIONS trial in Q4 2025.
Initiated Phase 1 clinical trial of RP-3467 (POLAR) in Q4 2024, dosing patients alone and in combination with olaparib.
Topline safety, tolerability, and early efficacy data from the POLAR trial expected in Q3 2025.
Initial topline safety, tolerability, and early efficacy data from the LIONS trial expected in Q4 2025.
Company is reducing its workforce by approximately 75% to extend its cash runway into late-2027.
Repare Therapeutics
Repare Therapeutics
Forward Guidance
Repare Therapeutics is focused on advancing its Phase 1 clinical programs, RP-1664 and RP-3467, with clinical trial readouts expected in 2025. The company is also exploring partnerships across its portfolio, including for Lunre+Camo.
Positive Outlook
- Initial clinical readout from Phase 1 RP-3467 (Polq ATPase/helicase inhibitor) POLAR trial expected in Q3 2025
- Initial clinical readout from Phase 1 RP-1664 (PLK4 inhibitor) LIONS trial expected in Q4 2025
- Cash and cash equivalents and marketable securities provides runway to late-2027
- Evaluating lunresertib in combination with Debio 0123, a highly selective brain-penetrant, clinical WEE1 inhibitor, in patients with advanced solid tumors
- Enrollment completion of MYTHIC trial evaluating lunresertib in combination with DEBIO 0123 (WEE1 inhibitor) in Q2 2025.
Challenges Ahead
- Company reducing its workforce by approximately 75%
- Revenue from collaboration agreements was nil for the three-month period ended December 31, 2024
- Intends to seek partnering opportunities for Lunre+Camo program as a condition to further advancement of the program into pivotal development
- Will not continue to develop lunresertib or camonsertib in other studies unless a partner is found
- Restructuring expenses incurred