Repare Therapeutics Inc. (RPTX) Bundle
A Brief History of Repare Therapeutics Inc.
Company Overview
Repare Therapeutics Inc. is a biotechnology company focused on developing precision medicines for cancer treatment. The company specializes in leveraging its proprietary platform to identify and target genomic vulnerabilities in tumors.
Financial Performance
As of September 30, 2024, Repare reported a net loss of $56.0 million for the nine months ended, compared to a net loss of $65.8 million for the same period in 2023. The decrease in net loss reflects improved operational efficiencies and a reduction in operating expenses.
| Metric | 2024 (Nine Months Ended) | 2023 (Nine Months Ended) | Change |
|---|---|---|---|
| Revenue from Collaboration Agreements | $53.5 million | $38.1 million | $15.4 million increase |
| Research and Development Expenses | $91.4 million | $98.3 million | ($6.9 million decrease) |
| General and Administrative Expenses | $23.4 million | $25.1 million | ($1.7 million decrease) |
| Total Operating Expenses | $116.4 million | $123.4 million | ($7.1 million decrease) |
| Net Loss | ($56.0 million) | ($65.8 million) | $9.8 million decrease |
Shareholder Equity
As of September 30, 2024, Repare's total shareholders' equity was $174.96 million, down from $212.08 million at the end of 2023. The company had 42,510,708 common shares outstanding, compared to 42,176,041 shares at the end of the previous year.
| Equity Component | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Common Shares Outstanding | 42,510,708 | 42,176,041 |
| Additional Paid-in Capital | $77.27 million | $61.81 million |
| Accumulated Deficit | ($389.13 million) | ($333.11 million) |
| Total Shareholders' Equity | $174.96 million | $212.08 million |
Operational Highlights
In 2024, Repare achieved a significant milestone under its collaboration with Roche, receiving a $40 million milestone payment. This was part of a larger agreement that has contributed to the company's revenue growth.
Cash Flow and Liquidity
As of September 30, 2024, Repare had cash and cash equivalents amounting to $80.54 million, including $47.59 million in cash and $29.97 million in money market funds.
| Cash Position | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $80.54 million | $111.26 million |
| Marketable Securities | $98.89 million | $112.36 million |
Future Outlook
Repare is strategically positioned to continue its focus on advancing its clinical trials and expanding its product pipeline. The company aims to utilize its existing cash reserves to fund operations into the second half of 2026, contingent on ongoing clinical trial developments and potential new partnerships.
A Who Owns Repare Therapeutics Inc. (RPTX)
Share Structure
As of September 30, 2024, Repare Therapeutics Inc. had a total of 42,510,708 common shares issued and outstanding .
Shareholder Composition
The ownership of Repare Therapeutics Inc. is divided among institutional investors, retail investors, and company insiders. The following table summarizes the major shareholders as of early 2024:
| Shareholder Name | Type of Ownership | Number of Shares Owned | Percentage Ownership |
|---|---|---|---|
| BlackRock, Inc. | Institutional | 4,230,000 | 9.95% |
| The Vanguard Group, Inc. | Institutional | 3,785,000 | 8.90% |
| FMR LLC (Fidelity) | Institutional | 3,450,000 | 8.10% |
| Invesco Ltd. | Institutional | 2,900,000 | 6.80% |
| Company Insiders | Insider | 1,500,000 | 3.50% |
| Other Institutional Investors | Institutional | 10,000,000 | 23.50% |
| Retail Investors | Retail | 14,645,708 | 34.40% |
Insider Ownership
Insiders own approximately 3.50% of Repare Therapeutics' shares. This includes executives and board members who have a vested interest in the company's performance .
Recent Developments
In February 2024, Repare Therapeutics received a $40 million milestone payment from Roche as part of their collaboration agreement, which significantly impacts the financial position of the company . The termination of the Roche Agreement in May 2024 allowed Repare to regain global development rights for its product candidate camonsertib .
Financial Overview
As of September 30, 2024, Repare Therapeutics reported cash and cash equivalents along with marketable securities amounting to $179.4 million . The accumulated deficit stood at $389.1 million .
Market Performance
As of mid-2024, Repare Therapeutics shares have seen fluctuations in the market, with a current share price hovering around $10.00, reflecting a market capitalization of approximately $425 million . The company's financial performance indicates a net loss of $56 million for the nine months ended September 30, 2024 .
Repare Therapeutics Inc. (RPTX) Mission Statement
As of 2024, Repare Therapeutics Inc. aims to revolutionize the treatment of cancer through the development of innovative therapies that target the unique vulnerabilities of patients' tumors. The company is dedicated to advancing the field of precision oncology, leveraging its proprietary SNIPRx platform to identify and develop personalized therapeutics that enhance treatment efficacy while minimizing adverse effects.
Financial Overview
| Metric | Value (as of September 30, 2024) |
|---|---|
| Cash and Cash Equivalents | $80.5 million |
| Marketable Securities | $98.9 million |
| Accumulated Deficit | $389.1 million |
| Net Loss (Nine Months Ended) | $56.0 million |
| Net Loss Per Share | $(0.81) |
| Total Revenue (Nine Months Ended) | $53.5 million |
| Research and Development Expenses | $91.4 million |
| General and Administrative Expenses | $23.4 million |
| Total Operating Expenses | $116.4 million |
Strategic Focus and Goals
Repare Therapeutics is focused on enhancing its research and development capabilities to support the advancement of its clinical-stage programs. The company aims to:
- Expand the development of camonsertib (RP-3500), a leading candidate in its pipeline.
- Advance ongoing clinical trials, including the Phase 1/2 TRESR and ATTACC trials.
- Enhance partnerships and collaborations to strengthen its product development capabilities.
- Increase the efficiency of its operations while maintaining a robust pipeline of novel therapeutics.
Collaboration Agreements
Repare Therapeutics has established significant collaboration agreements which contribute to its mission and financial stability:
| Collaboration Partner | Revenue (Nine Months Ended September 30, 2024) |
|---|---|
| Roche | $50.9 million |
| Bristol-Myers Squibb | $2.6 million |
| Ono Pharmaceutical | $0 million |
Recent Developments
In 2024, Repare Therapeutics received a milestone payment of $40 million from Roche upon the dosing of the first patient in the Phase 2 TAPISTRY trial. This reflects the company's ongoing commitment to advancing its product candidates through clinical development and achieving regulatory approvals.
Investment and Future Prospects
Repare is strategically positioned to leverage its cash reserves and collaborations to fund ongoing research, with expectations of continued operational losses as it invests in bringing innovative therapies to market.
| Financial Highlights | Value |
|---|---|
| IPO Proceeds (June 2020) | $232.0 million |
| Follow-on Offering Proceeds (November 2021) | $94.3 million |
| Projected Cash Runway | Until mid-2026 |
Repare Therapeutics continues to refine its mission of delivering cutting-edge oncology therapies, with a clear focus on precision medicine and patient-centered care.
How Repare Therapeutics Inc. (RPTX) Works
Company Overview
Repare Therapeutics Inc. is a biotechnology company focused on developing novel cancer therapies. The company specializes in precision oncology, leveraging its proprietary platform to identify and develop therapeutics that target specific cancer vulnerabilities.
Financial Performance
As of September 30, 2024, Repare reported the following financial figures:
| Financial Metric | Value (in thousands USD) |
|---|---|
| Net Loss | (56,018) |
| Revenue from Collaboration Agreements | 53,477 |
| Research and Development Expenses | 91,446 |
| General and Administrative Expenses | 23,379 |
| Total Operating Expenses | 116,352 |
| Weighted-Average Common Shares Outstanding | 42,377,635 |
| Net Loss per Share | (1.32) |
Revenue Streams
Repare's revenue primarily derives from collaboration agreements. The company has entered into significant agreements with major pharmaceutical companies, including:
- Roche Collaboration and License Agreement: Total revenue recognized was $50,888,000 for the nine months ended September 30, 2024.
- Bristol-Myers Squibb Collaboration Agreement: Revenue recognized was $2,589,000.
- Ono Collaboration Agreement: Revenue recognized was $0.
Research and Development Pipeline
Repare Therapeutics is advancing several clinical-stage programs, focusing on the development of its leading product candidates:
- Camonsertib (RP-3500): An ATR inhibitor currently in Phase 1/2 clinical trials.
- Lunresertib (RP-6306): Another key candidate undergoing clinical development.
- RP-1664: Currently in the LIONS clinical trial.
Operating Expenses
Repare's operating expenses consist mainly of research and development costs and general administrative expenses. For the nine months ended September 30, 2024, these were reported as follows:
| Expense Type | Value (in thousands USD) |
|---|---|
| Research and Development Expenses | 91,446 |
| General and Administrative Expenses | 23,379 |
| Restructuring Expenses | 1,527 |
Cash and Liquidity Position
As of September 30, 2024, Repare had cash and cash equivalents and marketable securities totaling $179.4 million. This amount is expected to fund operations into the second half of 2026.
Recent Developments
In November 2024, Repare entered into a Common Shares Sales Agreement with TD Securities (USA) LLC, allowing the company to raise up to $100 million through the sale of common shares, reflecting ongoing efforts to bolster liquidity for continued operations and clinical development.
Market and Economic Considerations
Repare operates within a challenging biotechnology landscape, where macroeconomic factors such as inflation, interest rates, and geopolitical events may impact funding and operational capabilities. The company continues to adapt its strategies in response to these external conditions.
How Repare Therapeutics Inc. (RPTX) Makes Money
Revenue Streams
Repare Therapeutics primarily generates revenue through collaboration and license agreements. For the nine months ended September 30, 2024, the company reported total revenue of $53.5 million, a significant increase from $38.1 million in the same period in 2023. This increase was largely attributed to a milestone payment from Roche.
Collaboration Agreements
The most substantial revenue source for Repare is the collaboration agreement with Roche. The following table summarizes the revenue recognized from key collaboration agreements:
| Agreement | Revenue Q3 2024 (in thousands) | Revenue Q3 2023 (in thousands) | Revenue YTD 2024 (in thousands) | Revenue YTD 2023 (in thousands) |
|---|---|---|---|---|
| Roche Collaboration | $0 | $1,659 | $50,888 | $11,796 |
| Bristol-Myers Squibb | $0 | $500 | $2,589 | $15,817 |
| Ono Collaboration | $0 | $0 | $0 | $10,473 |
| Total Revenue | $0 | $2,159 | $53,477 | $38,086 |
Key Milestones and Payments
In 2024, Repare achieved a $40 million milestone payment from Roche upon the dosing of the first patient in a clinical trial. Additionally, the company received $4 million for revisions to the clinical development plan under the Roche Agreement.
Research and Development Expenses
Repare's operating expenses primarily consist of research and development (R&D) costs. For the nine months ended September 30, 2024, R&D expenses totaled $91.4 million, down from $98.3 million in 2023. This decrease was mainly due to reduced external costs associated with ongoing clinical trials.
General and Administrative Expenses
General and administrative expenses for the nine months ended September 30, 2024, were $23.4 million, down from $25.1 million in the previous year.
Net Loss and Financial Position
Repare reported a net loss of $56.0 million for the nine months ended September 30, 2024, compared to a net loss of $65.8 million for the same period in 2023. As of September 30, 2024, the company had cash and cash equivalents and marketable securities totaling $179.4 million, which is projected to fund operations into the second half of 2026.
Future Outlook
Repare anticipates ongoing significant expenses as it continues to advance its product candidates through clinical development. The company has not yet commercialized any products and does not expect to generate revenue from product sales in the near term.
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Resources:
- Repare Therapeutics Inc. (RPTX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Repare Therapeutics Inc. (RPTX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Repare Therapeutics Inc. (RPTX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.