分组1 - Repare Therapeutics Inc. reported a quarterly loss of $0.39 per share, which was better than the Zacks Consensus Estimate of a loss of $0.56, representing an earnings surprise of +30.36% [1] - The company posted revenues of $0.25 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 95%, and this is a decline from year-ago revenues of $1.07 million [2] - The stock has gained about 16% since the beginning of the year, outperforming the S&P 500's gain of 7.8% [3] 分组2 - The current consensus EPS estimate for the coming quarter is -$0.49 on $5 million in revenues, and for the current fiscal year, it is -$2.45 on $20 million in revenues [7] - The Medical - Biomedical and Genetics industry is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8]

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Repare Therapeutics Inc.'s unaudited condensed consolidated financial statements, reflecting a corporate restructuring, asset sale, and changes in collaboration revenue [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $130.5 million from $176.5 million, primarily due to reduced cash and marketable securities, while liabilities and equity also declined Condensed Consolidated Balance Sheet Highlights (in thousands of U.S. dollars) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$130,493** | **$176,506** | | Cash and cash equivalents | $67,656 | $84,717 | | Marketable securities | $41,816 | $68,074 | | **Total Liabilities** | **$20,085** | **$25,375** | | **Total Shareholders' Equity** | **$110,408** | **$151,131** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a Q2 2025 net loss of $16.7 million, an improvement from Q2 2024, driven by lower R&D expenses and a gain on asset sale, though H1 2025 net loss increased due to significantly lower collaboration revenue Statement of Operations Summary (in thousands of U.S. dollars) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Collaboration Revenue | $250 | $1,073 | $250 | $53,477 | | R&D Expenses | $14,283 | $30,075 | $34,553 | $63,045 | | G&A Expenses | $6,029 | $8,317 | $13,681 | $16,935 | | Restructuring Expenses | $3,384 | $— | $6,649 | $— | | Gain on sale of technology | $5,666 | $— | $5,666 | $— | | **Net Loss** | **($16,744)** | **($34,774)** | **($46,787)** | **($21,612)** | | **Net Loss Per Share** | **($0.39)** | **($0.82)** | **($1.09)** | **($0.51)** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly increased to $45.5 million in H1 2025 due to a non-recurring milestone payment in 2024, while investing activities provided $28.2 million, resulting in a $17.1 million decrease in cash and cash equivalents Cash Flow Summary for Six Months Ended June 30 (in thousands of U.S. dollars) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($45,475) | ($18,582) | | Net cash provided by (used in) investing activities | $28,206 | ($13,198) | | Net cash provided by financing activities | $79 | $375 | | **Net Decrease In Cash And Cash Equivalents** | **($17,061)** | **($31,448)** | | **Cash and cash equivalents at end of period** | **$67,656** | **$79,820** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail key accounting events including the out-licensing of discovery platforms, significant restructuring expenses, the termination of the Roche collaboration, and a new licensing agreement for lunresertib - On May 1, 2025, the company out-licensed its early-stage discovery platforms to DCx Biotherapeutics, receiving **$1.0 million upfront**, **$3.0 million in near-term payments**, and a **9.99% equity stake**, resulting in a recognized gain of **$5.7 million**[39](index=39&type=chunk)[40](index=40&type=chunk) - The company incurred **$6.6 million in restructuring costs** for the six months ended June 30, 2025, related to a phased reorganization plan to reduce its workforce by approximately **75%**, including severance benefits and accelerated depreciation[54](index=54&type=chunk)[55](index=55&type=chunk) - The collaboration agreement with Roche was terminated effective May 7, 2024, leading to Repare regaining global rights for camonsertib and a significant year-over-year decrease in collaboration revenue for 2025[68](index=68&type=chunk)[70](index=70&type=chunk) - Subsequent to the quarter end, on July 15, 2025, the company entered into an exclusive worldwide licensing agreement with Debiopharm for its product candidate lunresertib, receiving a **$10 million upfront payment** and eligibility for future milestones and royalties[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's strategic shift to focus on Phase 1 clinical programs, supported by restructuring, workforce reductions, and out-licensing, leading to a sharp decline in revenue and decreased R&D expenses, with a projected cash runway through 2027 [Overview and Strategic Reprioritization](index=28&type=section&id=Overview%20and%20Strategic%20Reprioritization) The company has strategically re-prioritized to focus on advancing its Phase 1 clinical programs, RP-3467 and RP-1664, through significant workforce reduction and out-licensing of non-core assets - The company has realigned its clinical portfolio to focus on advancing its Phase 1 programs: **RP-3467 (POLAR trial)** and **RP-1664 (LIONS trial)**[98](index=98&type=chunk) - A phased reorganization plan was approved to reduce the workforce by approximately **75% by Q4 2025** to conserve capital and align with the new strategic focus[99](index=99&type=chunk) - Key strategic transactions include out-licensing discovery platforms to DCx and entering an exclusive licensing agreement with Debiopharm for lunresertib[99](index=99&type=chunk) [Results of Operations](index=39&type=section&id=Results%20of%20Operations) Q2 2025 revenue decreased to $0.3 million due to the terminated Roche agreement, while R&D expenses fell by $15.8 million; H1 2025 saw revenue plummet to $0.3 million, resulting in a net loss of $46.8 million Comparison of Operations for the Three Months Ended June 30 (in thousands of U.S. dollars) | Metric | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $250 | $1,073 | ($823) | | R&D Expenses | $14,283 | $30,075 | ($15,792) | | G&A Expenses | $6,029 | $8,317 | ($2,288) | | Restructuring | $3,384 | $— | $3,384 | | Gain on sale of assets | $5,666 | $— | $5,666 | | **Net Loss** | **($16,744)** | **($34,774)** | **$18,030** | Comparison of Operations for the Six Months Ended June 30 (in thousands of U.S. dollars) | Metric | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $250 | $53,477 | ($53,227) | | R&D Expenses | $34,553 | $63,045 | ($28,492) | | G&A Expenses | $13,681 | $16,935 | ($3,254) | | Restructuring | $6,649 | $— | $6,649 | | Gain on sale of assets | $5,666 | $— | $5,666 | | **Net Loss** | **($46,787)** | **($21,612)** | **($25,175)** | - The decrease in R&D expenses was primarily driven by lower personnel-related costs and reduced external costs for the lunresertib and camonsertib programs following trial terminations and strategic shifts[144](index=144&type=chunk)[153](index=153&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company held $109.5 million in cash, cash equivalents, and marketable securities, projected to fund operations through 2027, despite $45.5 million net cash used in operating activities for H1 2025 - The company had cash, cash equivalents, and marketable securities of **$109.5 million** as of June 30, 2025[107](index=107&type=chunk)[163](index=163&type=chunk) - Management projects its current cash position is sufficient to fund operations and capital expenditure requirements through **2027**, factoring in recent restructuring and out-licensing transactions[163](index=163&type=chunk) - Net cash used in operating activities for the six months ended June 30, 2025, was **$45.5 million**, compared to **$18.6 million** in the same period of 2024, with the increase primarily due to the non-recurrence of a **$40.0 million milestone payment** from Roche received in 2024[167](index=167&type=chunk)[168](index=168&type=chunk)[170](index=170&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a 'smaller reporting company,' Repare Therapeutics is exempt from providing quantitative and qualitative disclosures about market risk - As a 'smaller reporting company,' Repare Therapeutics is exempt from the requirement to provide information on market risk[178](index=178&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[180](index=180&type=chunk) - No changes occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[181](index=181&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings and is unaware of any pending or threatened actions that could materially impact its business - As of the report date, the company is not involved in any material legal proceedings[184](index=184&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) This section highlights new or updated risks, including potential adverse effects from international trade policies, impacts from enacted and future healthcare legislation, and changes to U.S. tax laws - The company identifies new risks related to international trade policies, particularly tariffs and sanctions affecting its global supply chain, with reliance on foreign manufacturers including those in China[186](index=186&type=chunk)[187](index=187&type=chunk) - Updates to healthcare legislation, including the Inflation Reduction Act (IRA) and the newly enacted 'One Big Beautiful Bill Act' (OBBBA), could increase costs, affect drug pricing, and create difficulty in obtaining marketing approval[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk) - Changes to tax laws, such as the Tax Cuts and Jobs Act (TCJA) and the OBBBA, could materially affect the company's financial position, tax rates, and the complexity of tax compliance[196](index=196&type=chunk)[197](index=197&type=chunk)[198](index=198&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales or purchases of its equity securities during the period - There were no unregistered sales of equity securities or issuer purchases of equity securities in the reported period[201](index=201&type=chunk) [Other Information](index=56&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, terminated, or modified Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the second quarter of 2025 - No directors or officers adopted, terminated, or modified Rule 10b5-1 trading arrangements during the second quarter of 2025[203](index=203&type=chunk) [Exhibits](index=57&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including an employment agreement, an amendment to the Bristol-Myers Squibb collaboration, and officer certifications - Exhibits filed include an employment agreement with Sandra Alves, the sixth amendment to the Bristol-Myers Squibb agreement, and officer certifications required by the Sarbanes-Oxley Act[207](index=207&type=chunk)

[Business Update and Portfolio Highlights](index=1&type=section&id=Business%20Update%20and%20Portfolio%20Highlights) Repare Therapeutics is pursuing strategic alternatives, highlighted by two significant licensing agreements and anticipated clinical trial data in Q4 2025 - The company is actively exploring strategic alternatives, partnerships, and sale opportunities across its portfolio to maximize shareholder value[2](index=2&type=chunk)[7](index=7&type=chunk) - Entered into a worldwide licensing agreement with Debiopharm for lunresertib, a first-in-class PKMYT1 inhibitor. Debiopharm will take over all development activities[3](index=3&type=chunk) - Out-licensed early-stage discovery platforms to DCx Biotherapeutics, a new Canadian biotech company, in exchange for upfront payments, equity, and potential future milestones and royalties[4](index=4&type=chunk) - Initial topline data for both the LIONS (RP-1664) and POLAR (RP-3467) clinical trials are expected to be reported in Q4 2025[1](index=1&type=chunk)[7](index=7&type=chunk) [Lunresertib Licensing Agreement with Debiopharm](index=1&type=section&id=Lunresertib%20Licensing%20Agreement%20with%20Debiopharm) Repare secured an exclusive worldwide licensing agreement with Debiopharm for lunresertib, providing immediate funding and future payments Key Terms of the Debiopharm Licensing Agreement | Term | Value (USD) | | :--- | :--- | | **Upfront Payment** | $10 million | | **Potential Near-Term Payments** | Up to $5 million | | **Total Potential Milestones** | Up to $257 million (clinical, regulatory, commercial, sales) | | **Royalties** | Single-digit on global net sales | [Discovery Platform Out-licensing to DCx Biotherapeutics](index=2&type=section&id=Discovery%20Platform%20Out-licensing%20to%20DCx%20Biotherapeutics) Repare out-licensed discovery platforms to DCx Biotherapeutics, generating a $5.7 million gain and securing an equity stake Key Terms of the DCx Biotherapeutics Agreement | Term | Value (USD) | | :--- | :--- | | **Upfront Payment** | $1 million | | **Expected Near-Term Payments** | $3 million | | **Equity Position in DCx** | 9.99% | | **Gain Recognized in Q2 2025** | $5.7 million | [Clinical Pipeline Update](index=2&type=section&id=Clinical%20Pipeline%20Update) Repare is advancing two key clinical programs, RP-3467 (POLAR) and RP-1664 (LIONS), with initial data expected in Q4 2025 - **RP-3467 (POLAR Trial):** A Phase 1 trial for a Polθ ATPase/helicase inhibitor is ongoing, with topline safety, tolerability, and early efficacy data expected in Q4 2025[5](index=5&type=chunk)[7](index=7&type=chunk) - **RP-1664 (LIONS Trial):** Enrollment of 29 patients is complete in the Phase 1 trial for this first-in-class PLK4 Inhibitor. Initial topline data is also expected in Q4 2025[6](index=6&type=chunk)[7](index=7&type=chunk) [Second Quarter 2025 Financial Results](index=3&type=section&id=Second%20Quarter%202025%20Financial%20Results) Repare reported reduced operating expenses, a narrowed net loss, and $109.5 million in cash for Q2 2025 Q2 2025 Financial Highlights vs. Q2 2024 | Financial Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue from Collaboration | $0.3 million | $1.1 million | -72.7% | | Net R&D Expense | $14.3 million | $30.1 million | -52.5% | | G&A Expense | $6.0 million | $8.3 million | -27.7% | | Net Loss | ($16.7 million) | ($34.8 million) | Loss Narrowed | | Net Loss Per Share | ($0.39) | ($0.82) | Improved | | Cash & Marketable Securities | $109.5 million | N/A | - | [Statement of Operations Analysis](index=7&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q2 2025 income statement shows declining collaboration revenue, reduced R&D, and a lower net loss due to asset sale gain Q2 Statement of Operations (in thousands USD) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Collaboration Revenue | $250 | $1,073 | | R&D Expense, net | $14,283 | $30,075 | | G&A Expense | $6,029 | $8,317 | | Restructuring | $3,384 | $0 | | Gain on sale of assets | $5,666 | $0 | | **Net Loss** | **($16,744)** | **($34,774)** | - Collaboration revenue for the six months ended June 30, 2025, was only **$0.3 million**, a steep drop from **$53.5 million** in the same period of 2024, indicating the conclusion or change in terms of prior agreements[11](index=11&type=chunk)[16](index=16&type=chunk) [Balance Sheet Analysis](index=6&type=section&id=Consolidated%20Balance%20Sheets) Repare's balance sheet shows $109.5 million in cash, with total assets and liabilities decreasing from year-end 2024 Balance Sheet Summary (in thousands USD) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents & marketable securities | $109,472 | $152,791 | | Total Current Assets | $126,572 | $171,149 | | **Total Assets** | **$130,493** | **$176,506** | | Total Current Liabilities | $20,085 | $25,287 | | **Total Liabilities** | **$20,085** | **$25,375** | | **Total Shareholders' Equity** | **$110,408** | **$151,131** |

Pipeline Programs & Milestones - RP-3467 (Polθ ATPase inhibitor) is in Phase 1/2 trials with initial POLAR topline data expected in Q3 2025[9, 25, 71] - RP-1664 (PLK4 inhibitor) is in Phase 1/2 trials with initial LIONS topline data expected in Q4 2025[9, 41, 71] - Lunresertib/Camonsertib (PKMYT1/ATR inhibitors) completed Lunre+WEE1i enrollment in Q2 2025[9, 71] RP-3467 (Polθ ATPase Inhibitor) - RP-3467 targets a global market segment addressable at over $16 billion across PARP inhibitors, RLT, and chemotherapy combinations[12] - Preclinical data shows deep/durable complete responses with PARPi combination, representing a ~$3 billion global market segment[14] - Preclinical data shows survival benefit in unselected tumor backgrounds, representing a ~$8 billion global market segment[14] - Preclinical data shows RP-3467 is well-tolerated with carboplatin/irinotecan, representing a ~$5 billion global market segment[14] RP-1664 (PLK4 Inhibitor) - RP-1664 targets a ~63,000 addressable patient population with TRIM37-high tumors, with initial focus on pediatric neuroblastoma (>80% TRIM37-high)[28] Lunresertib + Camonsertib - Lunre+camo achieved POC in 2L EC and 3L PROC with nearly half of patients maintaining PFS at 24 weeks[44] - In efficacy-evaluable patients with EC or PROC at RP2D, 73% of patients had tumor shrinkage and 31% (16/51) response rate[47] - In PROC patients with alterations, 75% experienced tumor shrinkage with 37.5% ORR (conf.+ unconf.) and 16.7% ORR (conf.)[54] - The progression-free rate at 24 weeks was 43% (95% CI: 21-63%) in EC patients and 45% (95% CI: 22-66%) in PROC patients[52, 58] Financial Status - The company has $124 million in cash and investments as of March 31, 2025, providing runway through 2027[8, 71]

Study Overview - The MINOTAUR study investigates the combination of Lunresertib (Lunre), a PKMYT1 inhibitor, with FOLFIRI in advanced gastrointestinal cancers[1] - The study is ongoing but closed to enrollment (NCT05147350)[8, 10] - The primary objectives are to assess the safety, tolerability, recommended phase II dose (RP2D), and schedule of the combination[8] Preclinical Rationale - CCNE1 amplification and deleterious FBXW7 mutations, present in approximately 20% of GI cancers, are associated with poor prognoses and lack matched targeted therapies[5] - Lunre synergizes with irinotecan (iri) to enhance DNA damage and anti-tumor activity by abrogating iri-induced CDK1 phosphorylation[5] Clinical Trial Demographics - The study included 38 patients, with 18 (47.4%) having colorectal cancer (CRC) and 20 (52.6%) with other tumor types[10] - Among CRC patients, 77.8% (14/18) had RAS mutations, and 100% (18/18) had FBXW7 alterations[10] - Among other tumor patients, 35% (7/20) had RAS mutations, 60% (12/20) had CCNE1 amplification, and 40% (8/20) had FBXW7 alterations[10] Safety and Tolerability - The RP2D was established at 60mg BID (twice daily) of continuous daily dosing of Lunre[12] - The safety profile was consistent with FOLFIRI alone, with neutropenia being the most common Grade 3+ hematologic treatment-related adverse event (TRAE) observed in 31.6% (12/38) of patients[12, 13, 15] Efficacy - The overall response rate (ORR) was 18.2% (95% CI: 7-35.5)[17] - The clinical benefit rate (CBR) in CRC patients was 55.6% (10/18)[17] - 40% (2/5) of irinotecan-naïve CRC patients had a duration of treatment (DOT) greater than 9 months[17] - ctDNA molecular response rate (MRR) was 61% (14/23)[17]

PART I. FINANCIAL INFORMATION This section provides the unaudited condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and controls [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited condensed consolidated financial statements, including balance sheets, statements of operations, and cash flows, highlighting the impact of the Roche collaboration termination and restructuring charges [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$144.0 million** from **$176.5 million** due to reduced cash and marketable securities, while total liabilities also declined Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $140,343 | $171,149 | | Cash and cash equivalents | $84,455 | $84,717 | | Marketable securities | $39,773 | $68,074 | | **Total Assets** | **$144,023** | **$176,506** | | **Total Current Liabilities** | $18,926 | $25,287 | | **Total Liabilities** | **$18,926** | **$25,375** | | **Total Shareholders' Equity** | $125,097 | $151,131 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a **$30.0 million** net loss in Q1 2025, a significant shift from **$13.2 million** net income in Q1 2024, primarily due to zero collaboration revenue and a new restructuring charge Q1 2025 vs. Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Collaboration Revenue | $0 | $52,404 | | Research and Development | $20,270 | $32,970 | | General and Administrative | $7,652 | $8,618 | | Restructuring | $3,265 | $0 | | **Total Operating Expenses** | **$31,187** | **$41,588** | | (Loss) Income from Operations | ($31,187) | $10,816 | | **Net (Loss) Income** | **($30,043)** | **$13,162** | | Basic Net (Loss) Income per Share | ($0.71) | $0.31 | | Diluted Net (Loss) Income per Share | ($0.71) | $0.30 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$29.1 million** in Q1 2025, a significant change from **$11.9 million** provided in Q1 2024, mainly due to the absence of a Roche milestone payment Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($29,133) | $11,932 | | Net cash provided by (used in) investing activities | $28,792 | ($20,316) | | Net cash provided by financing activities | $79 | $375 | | **Net Decrease In Cash And Cash Equivalents** | **($262)** | **($8,051)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the financial impact of the Roche agreement termination, BMS revenue recognition, **$3.3 million** in restructuring costs, and the subsequent out-licensing of discovery platforms - In February 2024, Roche elected to terminate its collaboration agreement for camonsertib, with the termination becoming effective May 7, 2024. The company regained global rights to the product. Revenue of **$49.8 million** was recognized in Q1 2024 from this agreement, with **no revenue in Q1 2025**[51](index=51&type=chunk)[53](index=53&type=chunk) - In March 2024, Bristol-Myers Squibb exercised its final option under the BMS Agreement, leading to the recognition of **$2.6 million in revenue in Q1 2024**. **No revenue** was recognized from this agreement in Q1 2025[58](index=58&type=chunk)[59](index=59&type=chunk) - The company initiated a phased reorganization plan in Q1 2025 to reduce its workforce by approximately **75%**. This resulted in restructuring costs of **$3.3 million** for the quarter, consisting of **$2.3 million** in severance benefits and **$0.9 million** in accelerated depreciation[44](index=44&type=chunk)[45](index=45&type=chunk) - Subsequent to the quarter end, on May 1, 2025, the company out-licensed its early-stage discovery platforms to DCx Biotherapeutics. The deal includes **$4.0 million** in upfront and near-term payments, a **9.99% equity stake** in DCx, and potential future milestones and royalties[83](index=83&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the strategic shift to focus on Phase 1 clinical programs, a **$52.4 million** revenue decrease, and the sufficiency of **$124.2 million** cash to fund operations through 2027 [Overview and Pipeline](index=26&type=section&id=Overview%20and%20Pipeline) Repare re-prioritized its portfolio to focus on Phase 1 programs RP-3467 and RP-1664, involving a **75% workforce reduction** and out-licensing discovery platforms, with key data expected in Q3 and Q4 2025 - Strategic re-prioritization announced in January 2025 to focus resources on Phase 1 clinical programs **RP-3467** and **RP-1664**[87](index=87&type=chunk) - A phased workforce reduction of approximately **75%** was approved in February 2025, with remaining employees focused on the prioritized clinical programs[88](index=88&type=chunk) - Upcoming milestones include topline safety and efficacy data for **RP-3467 in Q3-2025** and initial data for **RP-1664 in Q4-2025**[92](index=92&type=chunk)[100](index=100&type=chunk) - On May 1, 2025, the company out-licensed its early-stage discovery platforms to **DCx Biotherapeutics**[100](index=100&type=chunk) [Results of Operations](index=37&type=section&id=Results%20of%20Operations) Revenue declined to zero from **$52.4 million** due to collaboration terminations, while R&D expenses decreased by **$12.7 million**, and a new **$3.3 million** restructuring expense was recorded Comparison of Results of Operations (in thousands) | Line Item | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $0 | $52,404 | ($52,404) | | R&D Expenses | $20,270 | $32,970 | ($12,700) | | G&A Expenses | $7,652 | $8,618 | ($966) | | Restructuring | $3,265 | $0 | $3,265 | | **(Loss) Income from Operations** | **($31,187)** | **$10,816** | **($42,003)** | - The **$52.4 million decrease in revenue** was due to a **$49.8 million decrease** from the terminated Roche agreement and a **$2.6 million decrease** from the concluded BMS agreement[133](index=133&type=chunk) - The **$12.7 million decrease in R&D expenses** was driven by a **$3.8 million decrease** in lunresertib program costs, a **$3.2 million decrease** in personnel costs, and a **$1.7 million decrease** in camonsertib program costs[132](index=132&type=chunk)[140](index=140&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company held **$124.2 million** in cash and equivalents, projected to fund operations through 2027, despite a **$29.1 million** net cash outflow from operations in Q1 2025 - Cash, cash equivalents, and marketable securities totaled **$124.2 million** as of March 31, 2025[96](index=96&type=chunk)[142](index=142&type=chunk) - The company believes its current cash position is sufficient to fund anticipated operating and capital expenditure requirements through **2027**, after accounting for restructuring and other strategic changes[96](index=96&type=chunk)[142](index=142&type=chunk) - Net cash used in operating activities was **$29.1 million** for Q1 2025, a **$41.0 million decrease** in cash flow compared to Q1 2024, primarily due to the **$40.0 million milestone payment** received from Roche in Q1 2024[146](index=146&type=chunk)[149](index=149&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," the company is exempt from providing quantitative and qualitative disclosures about market risk - As a "smaller reporting company," Repare Therapeutics is exempt from providing quantitative and qualitative disclosures about market risk[157](index=157&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting - The company's management, including the CEO/CFO, concluded that disclosure controls and procedures were **effective** as of March 31, 2025[159](index=159&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[160](index=160&type=chunk) PART II. OTHER INFORMATION This section covers legal proceedings, risk factors, equity sales, other information, and a list of exhibits filed with the report [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings and is unaware of any pending or threatened actions - The company is not currently involved in any material legal proceedings[163](index=163&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were noted, except for a new risk concerning adverse effects of international trade policies, tariffs, and supply chain disruptions - A new risk factor was added concerning the potential adverse impact of international trade policies, tariffs, and trade barriers on the business[165](index=165&type=chunk) - The company relies on international suppliers, including from China, for active pharmaceutical ingredients (APIs) and precursor chemicals, making it vulnerable to trade tensions[166](index=166&type=chunk) - Current or future tariffs could significantly increase manufacturing costs, raise R&D expenses, and cause delays to clinical development timelines[166](index=166&type=chunk)[167](index=167&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or issuer purchases of equity securities were reported during Q1 2025 - There were no unregistered sales of equity securities or issuer purchases of equity securities in Q1 2025[169](index=169&type=chunk)[170](index=170&type=chunk) [Item 5. Other Information](index=47&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, terminated, or modified Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted, terminated, or modified a Rule 10b5-1 trading plan during the first quarter of 2025[173](index=173&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including employment agreements, separation agreements, and required certifications - Exhibits filed include an amendment to an employment agreement, separation agreements, and CEO/CFO certifications pursuant to Sarbanes-Oxley Act Sections 302 and 906[177](index=177&type=chunk)

Core Viewpoint - Repare Therapeutics Inc. (RPTX) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook driven by an upward trend in earnings estimates, which significantly influences stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on the changing earnings picture of a company, specifically tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The correlation between earnings estimate revisions and near-term stock price movements is strong, making the Zacks rating system valuable for investors [3][7]. - For the fiscal year ending December 2025, Repare Therapeutics is expected to earn -$2.24 per share, reflecting a -13.7% change from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for Repare Therapeutics has increased by 28.3%, indicating a positive trend in earnings estimates [9]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8]. - The upgrade of Repare Therapeutics to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].

Part I [Business](index=8&type=section&id=Item%201.%20Business) Repare Therapeutics is a clinical-stage precision oncology company focused on developing synthetic lethality therapeutics via its SNIPRx® platform [Overview and Strategy](index=8&type=section&id=Item%201.%20Business%20-%20Overview%20and%20Strategy) Repare Therapeutics, a clinical-stage precision oncology company, restructured in January 2025 to focus on Phase 1 programs RP-3467 and RP-1664 - The company is a clinical-stage precision oncology firm using its proprietary SNIPRx® platform to develop novel therapeutics based on synthetic lethality[19](index=19&type=chunk) - In January 2025, the company announced a strategic re-prioritization to focus on its Phase 1 programs, RP-3467 and RP-1664[20](index=20&type=chunk) - As part of the restructuring, the company reduced its workforce by approximately **75%** on February 24, 2025, to focus on advancing RP-3467 and RP-1664[20](index=20&type=chunk) - The company plans to seek partnerships for its other clinical assets, lunresertib and camonsertib, before initiating pivotal development[20](index=20&type=chunk) [Development Programs](index=8&type=section&id=Item%201.%20Business%20-%20Development%20Programs) The company's pipeline focuses on Phase 1 trials for RP-3467 and RP-1664, with other candidates paused pending partnerships - **RP-3467 (Polθ inhibitor):** A potential best-in-class inhibitor for HRD tumors. A Phase 1 trial (POLAR) was initiated in Q4 2024, with the first patient dosed in combination with olaparib. Topline safety and early efficacy data are expected in Q3 2025[22](index=22&type=chunk)[23](index=23&type=chunk) - **RP-1664 (PLK4 inhibitor):** A potential first-in-class oral inhibitor for tumors with TRIM37 amplification. A Phase 1 trial (LIONS) in adults began in February 2024. A Phase 1/2 expansion in pediatric neuroblastoma is planned for Q3 2025, with initial LIONS data expected in Q4 2025[23](index=23&type=chunk) - **Lunresertib (PKMYT1 inhibitor) and Camonsertib (ATR inhibitor):** Further development of these candidates is paused, pending a partnership. An ongoing combination study of lunresertib with Debiopharm's Debio 0123 will continue[24](index=24&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) [Intellectual Property](index=9&type=section&id=Item%201.%20Business%20-%20Intellectual%20Property) The company protects its proprietary technologies and product candidates through patents, trade secrets, and confidentiality agreements Expected Patent Expiry Dates for Key Programs | Programs | Expected expiry dates | | :--- | :--- | | Polθ inhibitors, including RP-3467 | 2042-2044 | | PLK4 inhibitors, including RP-1664 | 2043 | | CCNE1-SL inhibitors, including lunresertib | 2041-2044 | | ATR inhibitors, including camonsertib | 2039-2044 | - The company's IP strategy involves seeking and maintaining patent rights, defending them, and protecting trade secrets and know-how through confidentiality and invention assignment agreements[28](index=28&type=chunk)[31](index=31&type=chunk) - Patent terms are generally 20 years from the earliest non-provisional filing date, with potential for extensions to compensate for FDA regulatory review delays[29](index=29&type=chunk) [Collaborations and License Agreements](index=11&type=section&id=Item%201.%20Business%20-%20Collaborations%20and%20License%20Agreements) Key agreements include the expired BMS collaboration with ongoing royalties and a NYU license for Polθ patents with milestone payments - **Bristol-Myers Squibb (BMS) Agreement:** The collaboration term for research and target identification expired in November 2023. BMS exercised options for five druggable and one undruggable target. Repare is eligible for up to **$301.0 million** in milestones per program and tiered royalties[33](index=33&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk)[39](index=39&type=chunk) - **New York University (NYU) Agreement:** Repare holds an exclusive, worldwide license for Polθ patents. The agreement requires milestone payments (up to **$6.7 million** in aggregate for a product) and low single-digit royalties on net sales. A **$0.1 million** milestone was triggered in October 2024[40](index=40&type=chunk)[43](index=43&type=chunk)[45](index=45&type=chunk) [Competition](index=13&type=section&id=Item%201.%20Business%20-%20Competition) The company faces intense competition in precision oncology from major pharmaceutical and biotech firms, including specific rivals for its lead programs - The company faces substantial competition from large pharmaceutical companies and other biotechs with greater resources in R&D, manufacturing, and marketing[54](index=54&type=chunk) - Competitors in the precision oncology space include Loxo Oncology, Blueprint Medicines, and Tango Therapeutics. Competitors in the synthetic lethality space include AstraZeneca, GlaxoSmithKline, and IDEAYA Biosciences[55](index=55&type=chunk) - Specific competitors for Repare's pipeline include: - **Polθ (RP-3467):** Artios Pharma, IDEAYA Biosciences, MOMA Therapeutics - **PLK4 (RP-1664):** Exelixis, Oric Pharmaceuticals, Treadwell Therapeutics - **PKMYT1 (lunresertib):** Acrivon Therapeutics, Exelixis, Schrodinger[57](index=57&type=chunk)[58](index=58&type=chunk) [Government Regulation](index=14&type=section&id=Item%201.%20Business%20-%20Government%20Regulation) The company's operations are subject to extensive FDA regulation for drug development and approval, alongside various healthcare laws and pricing reforms - The FDA drug approval process is lengthy and resource-intensive, requiring preclinical studies (GLP) and three phases of human clinical trials (GCP) before submitting a New Drug Application (NDA)[61](index=61&type=chunk)[62](index=62&type=chunk)[65](index=65&type=chunk)[70](index=70&type=chunk) - The FDA offers expedited review programs such as Fast Track, Breakthrough Therapy, Accelerated Approval, and Priority Review for drugs treating serious conditions and addressing unmet medical needs[71](index=71&type=chunk) - The company is subject to numerous healthcare laws, including the federal Anti-Kickback Statute, the False Claims Act (FCA), and HIPAA, which regulate interactions with healthcare providers and protect patient information[98](index=98&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) - Healthcare reform measures, such as the Affordable Care Act (ACA) and the Inflation Reduction Act of 2022 (IRA), impact drug pricing, reimbursement, and market access, creating significant uncertainty[112](index=112&type=chunk)[114](index=114&type=chunk)[116](index=116&type=chunk) [Employees and Human Capital Resources](index=25&type=section&id=Item%201.%20Business%20-%20Employees%20and%20Human%20Capital%20Resources) The company reduced its workforce by 75% in February 2025, focusing on core values and competitive compensation to attract and retain talent - On February 24, 2025, the company reduced its workforce by approximately **75%**. Prior to this, as of February 10, 2025, it had **129** full-time employees[121](index=121&type=chunk) - The company's core values are: Patients come first; Respect and trust are core; We are empathetic; We are open, direct, and authentic; We embrace risk and thrive[123](index=123&type=chunk) - Repare offers competitive compensation packages including base salaries, annual equity and cash incentive plans, healthcare benefits, and an employee share purchase plan to attract and retain talent[125](index=125&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) Investing in Repare Therapeutics involves significant financial, development, operational, commercial, and IP risks, including those from recent restructuring and regulatory changes - **Financial Risks:** The company has a limited operating history, has incurred significant losses since inception, and will require substantial additional funding to continue operations, which may not be available on acceptable terms[136](index=136&type=chunk)[139](index=139&type=chunk)[144](index=144&type=chunk) - **Development and Regulatory Risks:** The success of the business depends on advancing early-stage product candidates through uncertain clinical development and regulatory approval processes. The company's SNIPRx® platform is novel and may not prove effective[150](index=150&type=chunk)[155](index=155&type=chunk)[172](index=172&type=chunk) - **Operational Risks:** The company relies on third parties for manufacturing (CMOs) and clinical trials (CROs), and its recent corporate restructuring and **75%** headcount reduction could disrupt business and employee retention[133](index=133&type=chunk)[253](index=253&type=chunk)[260](index=260&type=chunk) - **Commercial and IP Risks:** The company faces substantial competition, may not achieve market acceptance for its products if approved, and its success depends on its ability to obtain and protect its intellectual property rights[211](index=211&type=chunk)[205](index=205&type=chunk)[270](index=270&type=chunk) [Unresolved Staff Comments](index=80&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the Securities and Exchange Commission - None[379](index=379&type=chunk) [Cybersecurity](index=80&type=section&id=Item%201C.%20Cybersecurity) Repare Therapeutics manages cybersecurity through a formal risk management program, overseen by its audit committee, focusing on threat identification, mitigation, and vendor risk - The company has processes to identify, assess, and manage material cybersecurity risks, utilizing methods like automated scanning, third-party audits, and external intelligence[380](index=380&type=chunk)[381](index=381&type=chunk) - Cybersecurity governance is handled by the board of directors' audit committee, which oversees the risk management processes implemented by company management[387](index=387&type=chunk) - Management, including the EVP & CFO and VP of IT, is responsible for implementing the cybersecurity program and escalating significant incidents to the audit committee as per the incident response policy[388](index=388&type=chunk)[390](index=390&type=chunk) [Properties](index=82&type=section&id=Item%202.%20Properties) Repare Therapeutics leases headquarters in Montréal and U.S. operations in Cambridge, and is exploring lease options due to recent strategic realignment - Headquarters in Montréal, Québec consists of **24,039 sq. ft.** of leased lab and office space, with the lease expiring in August 2025[392](index=392&type=chunk) - U.S. operations are based in a leased **11,312 sq. ft.** office space in Cambridge, Massachusetts, with the lease expiring in January 2026[392](index=392&type=chunk) - The company is currently exploring its lease options due to the recent realignment of resources and strategic reprioritization[392](index=392&type=chunk) [Legal Proceedings](index=82&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings or aware of any threatened legal actions - The company is not currently a party to any material legal proceedings[393](index=393&type=chunk) [Mine Safety Disclosures](index=82&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[394](index=394&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=83&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Repare Therapeutics' common shares trade on Nasdaq under "RPTX"; the company has never paid dividends and issued a warrant in November 2024 - The company's common shares trade on The Nasdaq Global Select Market under the symbol "RPTX"[397](index=397&type=chunk) - The company has never declared or paid cash dividends and does not plan to in the foreseeable future[399](index=399&type=chunk) - In November 2024, the company issued a warrant to a service provider to purchase **35,000** common shares at an exercise price of **$3.61** per share[400](index=400&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=84&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) The company reported a net loss of $84.7 million in 2024, with $152.8 million cash expected to fund operations into late 2027 post-restructuring [Results of Operations](index=92&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20-%20Results%20of%20Operations) For 2024, revenue increased to $53.5 million due to a Roche milestone, while R&D and G&A expenses decreased, resulting in a net loss of $84.7 million Comparison of Results of Operations (2024 vs. 2023) | Financial Metric | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | Key Driver(s) | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $53,477 | $51,133 | $2,344 | Increase from Roche milestone, offset by decreases from expired BMS and Ono agreements | | **R&D Expenses** | $115,941 | $133,593 | ($17,652) | Decrease in camonsertib program costs and discovery costs | | **G&A Expenses** | $29,680 | $33,764 | ($4,084) | Decrease in personnel costs and D&O insurance premiums | | **Restructuring Expenses** | $1,379 | $0 | $1,379 | Costs from August 2024 strategic refocus | | **Loss from Operations** | ($93,523) | ($116,224) | $22,701 | Lower operating expenses | | **Net Loss** | ($84,689) | ($93,796) | $9,107 | Lower operating loss and changes in income tax benefit/expense | [Liquidity and Capital Resources](index=94&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20-%20Liquidity%20and%20Capital%20Resources) As of December 31, 2024, Repare had $152.8 million in cash, expected to fund operations into late 2027 after recent restructuring and cost-saving measures - As of December 31, 2024, the company had **$152.8 million** in cash, cash equivalents, and marketable securities[464](index=464&type=chunk) - The current cash position is expected to fund operating and capital expenditure requirements into **late-2027**, factoring in recent cost-saving measures[464](index=464&type=chunk)[465](index=465&type=chunk) - The company has an active at-the-market (ATM) sales agreement to sell up to **$100.0 million** in common shares, but did not sell any shares under this program in 2024 or 2023[460](index=460&type=chunk) - In early 2025, the company implemented a significant realignment, including a **75%** workforce reduction, to extend its cash runway and focus on its Phase 1 programs, RP-3467 and RP-1664[461](index=461&type=chunk) [Critical Accounting Estimates](index=97&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20-%20Critical%20Accounting%20Estimates) Key accounting estimates include Revenue Recognition, Accrued and Prepaid R&D Expenses, and Share-Based Compensation, all requiring significant judgment - **Revenue Recognition:** Involves significant judgment in identifying performance obligations, determining the transaction price (including variable consideration like milestones), and allocating it based on relative stand-alone selling prices in complex collaboration agreements[481](index=481&type=chunk)[482](index=482&type=chunk)[483](index=483&type=chunk) - **Accrued and Prepaid Research and Development Expenses:** Requires estimating costs for services performed by third-party vendors (e.g., CROs) that have not yet been invoiced, based on contract terms and the level of service completed[491](index=491&type=chunk)[492](index=492&type=chunk) - **Share-Based Compensation:** The fair value of stock options is estimated using the Black-Scholes model, which requires subjective assumptions for expected volatility, expected term, risk-free interest rate, and dividend yield[494](index=494&type=chunk)[496](index=496&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=102&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," Repare Therapeutics is not required to provide market risk disclosures - As a "smaller reporting company," Repare Therapeutics is not required to provide quantitative and qualitative disclosures about market risk[499](index=499&type=chunk) [Financial Statements and Supplementary Data](index=103&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The consolidated financial statements, audited by Ernst & Young LLP, show a net loss of $84.7 million in 2024 and total assets of $176.5 million Consolidated Balance Sheet Data (in thousands) | | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $152,791 | $223,627 | | Total Assets | $176,506 | $253,901 | | Total Liabilities | $25,375 | $41,819 | | Total Shareholders' Equity | $151,131 | $212,082 | Consolidated Statement of Operations Data (in thousands) | | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Revenue | $53,477 | $51,133 | | Research and development expenses | $115,941 | $133,593 | | General and administrative expenses | $29,680 | $33,764 | | Net Loss | ($84,689) | ($93,796) | | Net Loss Per Share | ($2.00) | ($2.23) | Consolidated Statement of Cash Flows Data (in thousands) | | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($76,445) | ($127,158) | | Net cash provided by investing activities | $49,468 | $78,041 | | Net cash provided by financing activities | $542 | $842 | - The independent auditor, Ernst & Young LLP, issued an unqualified opinion on the financial statements and identified 'Accrued and Prepaid Research and Development Expenses' as a critical audit matter due to the significant judgment and estimates involved[506](index=506&type=chunk)[510](index=510&type=chunk)[511](index=511&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=143&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting or financial disclosure matters - None[704](index=704&type=chunk) [Controls and Procedures](index=143&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2024, with no material changes - Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2024[706](index=706&type=chunk) - Management's assessment concluded that the company's internal control over financial reporting was effective as of December 31, 2024, based on the COSO 2013 framework[708](index=708&type=chunk) - The company is exempt from the requirement for an auditor's attestation report on internal control over financial reporting because it is a smaller reporting company[709](index=709&type=chunk) [Other Information](index=145&type=section&id=Item%209B.%20Other%20Information) No directors or officers adopted, terminated, or modified Rule 10b5-1 or non-Rule 10b5-1 trading arrangements in Q4 2024 - No director or officer adopted, terminated, or modified a Rule 10b5-1 trading plan or other non-Rule 10b5-1 trading arrangement during the fourth quarter of 2024[712](index=712&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=145&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - None[713](index=713&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=146&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2025 Annual Meeting proxy statement - The information required by this item is incorporated by reference from the company's definitive proxy statement for its 2025 Annual Meeting of Shareholders[715](index=715&type=chunk) [Executive Compensation](index=146&type=section&id=Item%2011.%20Executive%20Compensation) Executive and director compensation information is incorporated by reference from the 2025 Annual Meeting proxy statement - The information required by this item is incorporated by reference from the company's definitive proxy statement for its 2025 Annual Meeting of Shareholders[717](index=717&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=146&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership and equity compensation plan information is incorporated by reference from the 2025 Annual Meeting proxy statement - The information required by this item is incorporated by reference from the company's definitive proxy statement for its 2025 Annual Meeting of Shareholders[718](index=718&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=146&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2025 Annual Meeting proxy statement - The information required by this item is incorporated by reference from the company's definitive proxy statement for its 2025 Annual Meeting of Shareholders[719](index=719&type=chunk) [Principal Accounting Fees and Services](index=146&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information on principal accounting fees and services is incorporated by reference from the 2025 Annual Meeting proxy statement - The information required by this item is incorporated by reference from the company's definitive proxy statement for its 2025 Annual Meeting of Shareholders[720](index=720&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=147&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists documents filed as part of the Annual Report, including consolidated financial statements and an index of exhibits - The company's Consolidated Financial Statements are filed under Part II, Item 8 of the report[723](index=723&type=chunk) - All financial statement schedules have been omitted because the information is not applicable or is already included in the financial statements or notes[723](index=723&type=chunk) - A detailed index of exhibits filed with or incorporated by reference into the Form 10-K is provided[725](index=725&type=chunk) [Form 10-K Summary](index=151&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company has not provided a summary for this item - None[732](index=732&type=chunk)

Core Viewpoint - Repare Therapeutics Inc. (RPTX) has shown a downtrend recently, losing 7.6% over the past four weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, with reduced selling pressure, suggesting a bullish outlook for the stock [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that despite a new low, buying interest has emerged to push the stock price up towards the opening price [3][4]. - This pattern is significant when it appears at the bottom of a downtrend, signaling that bears may be losing control and bulls are gaining strength [4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for RPTX, which is a bullish indicator as it typically leads to price appreciation [6]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 3%, indicating that analysts expect better earnings than previously predicted [7]. - RPTX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically outperform the market [8].

Group 1 - Repare Therapeutics Inc. (RPTX) has experienced a downtrend with a 5.2% decline over the past four weeks, but it is now in oversold territory, indicating a potential turnaround [1] - The Relative Strength Index (RSI) for RPTX is at 20.45, suggesting that the heavy selling pressure may be exhausting itself, which could lead to a reversal in the stock's trend [5] - Analysts have raised earnings estimates for RPTX by 3% over the last 30 days, indicating a consensus that the company may report better earnings than previously predicted, which typically correlates with price appreciation [6] Group 2 - RPTX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [7]