Repare Therapeutics(RPTX) - 2025 Q3 - Quarterly Results

Acquisition Details - Repare Therapeutics has entered into a definitive agreement to be acquired by XenoTherapeutics, with shareholders expected to receive approximately US$1.82 per share plus one contingent value right (CVR) per common share[1][2]. - The transaction is expected to close in the first quarter of 2026, pending shareholder and court approvals[1][5]. - Repare's Board of Directors unanimously approved the transaction, determining it to be in the best interests of the company and its stakeholders[1][4]. - The Arrangement Agreement includes a termination fee of US$2.0 million payable by Repare under certain circumstances[1][6]. - The company will cease to be a reporting issuer under Canadian securities laws and will deregister its common shares under the U.S. Securities Exchange Act of 1934 following the transaction[1][7]. Financial Performance - Revenue from collaboration agreements for the three months ended September 30, 2025, was $11.6 million, compared to nil for the same period in 2024[1][14]. - Net income for the three months ended September 30, 2025, was $3.3 million, or $0.08 diluted per share, contrasting with a net loss of $34.4 million, or $0.81 per share, for the same period in 2024[1][17]. - Research and development expenses for the three months ended September 30, 2025, were $7.5 million, down from $28.4 million for the same period in 2024[1][17]. - Total operating expenses for the nine months ended September 30, 2025, were $68,759,000, down from $116,352,000 for the same period in 2024, representing a reduction of approximately 41%[26]. - The company reported a comprehensive income of $3,280,000 for the three months ended September 30, 2025, compared to a comprehensive loss of $34,132,000 for the same period in 2024[26]. Cash and Assets - As of September 30, 2025, Repare reported cash, cash equivalents, and marketable securities totaling $112.6 million, an increase from $109.5 million as of June 30, 2025[1][14]. - Cash and cash equivalents decreased from $84,717,000 as of December 31, 2024, to $72,825,000 as of September 30, 2025, a decrease of approximately 14%[24]. - Total current assets decreased from $171,149,000 as of December 31, 2024, to $124,426,000 as of September 30, 2025, a decline of approximately 27.3%[24]. - Total liabilities decreased from $25,375,000 as of December 31, 2024, to $11,620,000 as of September 30, 2025, a reduction of approximately 54.2%[24]. - The accumulated deficit increased from $(417,798,000) as of December 31, 2024, to $(461,327,000) as of September 30, 2025[24]. Shareholder Information - Repare's ongoing efforts to license or dispose of its product candidates may increase the estimated Closing Net Cash Amount, benefiting shareholders[1][3]. - Basic net income per share for the three months ended September 30, 2025, was $0.08, compared to a loss of $(0.81) for the same period in 2024[26]. - The number of common shares outstanding increased from 42,510,708 as of December 31, 2024, to 42,985,755 as of September 30, 2025[24].