Repare Therapeutics(US:RPTX)2024-11-07 12:10Clinical Trials - The company is on track to report data from the MYTHIC dose expansion clinical trial in December 2024, with plans to begin a registrational trial in 2025[1] - The first patient has been dosed in the Phase 1 POLAR trial evaluating RP-3467, a Polq ATPase inhibitor, alone and in combination with the PARP inhibitor, olaparib[1] - The company presented positive updated safety and tolerability data from the Phase 1 MYTHIC trial, showing a reduction in Grade 3 anemia to 22.6% from 51.4%[4] Financial Performance - Cash, cash equivalents, and marketable securities as of September 30, 2024, were $179.4 million, sufficient to fund operations into the second half of 2026[11] - Revenue from collaboration agreements was nil for the three months ended September 30, 2024, compared to $2.2 million for the same period in 2023[12] - Net R&D expenses were $28.4 million for the three months ended September 30, 2024, down from $32.7 million for the same period in 2023[13] - General and administrative expenses were $6.4 million for the three months ended September 30, 2024, compared to $7.9 million for the same period in 2023[14] - The net loss for the three months ended September 30, 2024, was $34.4 million, or $0.81 per share, compared to a net loss of $18.9 million, or $0.45 per share, for the same period in 2023[15] - Total operating expenses for Q3 2024 were $36,372,000, down from $40,577,000 in Q3 2023, a decrease of 5.4%[20] - Net loss for Q3 2024 was $34,406,000, compared to a net loss of $18,879,000 in Q3 2023, an increase of 82.7%[20] - Research and development expenses for the nine months ended September 2024 were $91,446,000, down from $98,327,000 for the same period in 2023, a decrease of 7%[20] - General and administrative expenses for Q3 2024 were $6,444,000, a decrease of 18.1% from $7,868,000 in Q3 2023[20] - Interest income for Q3 2024 was $2,512,000, compared to $3,312,000 in Q3 2023, a decrease of 24.1%[20] - Comprehensive loss for Q3 2024 was $34,132,000, compared to $18,707,000 in Q3 2023, an increase of 82.5%[20] - Net loss per share attributable to common shareholders for Q3 2024 was $(0.81), compared to $(0.45) in Q3 2023, a decrease of 80%[20] - Total other income for Q3 2024 was $2,451,000, down from $3,240,000 in Q3 2023, a decrease of 24.4%[20] - Restructuring expenses for Q3 2024 were $1,527,000, with no restructuring expenses reported in Q3 2023[20] Workforce and Strategic Changes - The company reduced its overall workforce by approximately 25% as part of a strategic reprioritization of its R&D activities[10] - Total assets as of September 30, 2024, were $206.4 million, down from $253.9 million as of December 31, 2023[19]