Repare Therapeutics Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, collaboration agreement revenue was $53.477 million, an increase from $51.133 million in 2023. The net loss for the full year was $(84.689) million, an improvement from $(93.796) million in 2023.
For the fourth quarter of 2024, collaboration agreement revenue was $0, a significant decrease from $13.047 million in Q4 2023. The net loss for Q4 2024 was $(28.671) million, comparable to $(28.030) million in Q4 2023. Research and development expenses for the full year decreased to $115.941 million from $133.593 million in 2023.
The company announced a reduction of its workforce by approximately 75% as part of its restructuring and portfolio re-prioritization. This, along with $152.8 million in cash, cash equivalents, and marketable securities as of December 31, 2024, is expected to provide a cash runway into late-2027. Repare is now focused on three ongoing Phase 1 clinical trials, with initial readouts for RP-3467 expected in Q3 2025 and RP-1664 in Q4 2025.
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