Repare To Sell RP-3467 To Gilead For Up To $30 Million; Shares Jump

Core Viewpoint - Repare Therapeutics Inc. has entered into an agreement with Gilead Sciences, Inc. to transfer its Pol? ATPase inhibitor, RP-3467, valued at up to $30 million, leading to a significant increase in the company's share price by over 20% in pre-market trading [1]. Group 1: Financial Details - The agreement includes a $25 million upfront payment and an additional $5 million contingent upon the completion of specified transfer activities [1]. - Following the Gilead agreement, Repare expects shareholders to receive approximately $2.20 per share, up from a previous expectation due to the increased cash balance [3]. - Repare's shares closed at $2.17, reflecting a decrease of 2.25% prior to the announcement [3]. Group 2: Product Development - RP-3467 is currently undergoing evaluation in a Phase 1 study as both a monotherapy and in combination with olaparib for various cancer types, including epithelial ovarian cancer, breast cancer, prostate cancer, and pancreatic adenocarcinoma [2]. Group 3: Acquisition Context - In November, Repare announced an agreement to be acquired by XenoTherapeutics, Inc. and Xeno Acquisition Corp., with the cash payment per share based on Repare's cash balance at closing [3].