Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 61

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 61
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 and administrative

    29,680

    33,764

    (4,084
    )

    Restructuring

    1,379

    —

    1,379

    Total operating expenses

    147,000

    167,357

    (20,357
    )

    Loss from operations

    (93,523
    )

    (116,224
    )

    22,701

    Other income (expense), net:

    Realized and unrealized loss on foreign exchange

    (2
    )

    (170
    )

    168

    Interest income

    10,391

    13,334

    (2,943
    )

    Other expense, net

    (115
    )

    (119
    )

    4

    Total other income, net

    10,274

    13,045

    (2,771
    )

    Loss before income taxes

    (83,249
    )

    (103,179
    )

    19,930

    Income tax (expense) benefit

    (1,440
    )

    9,383

    (10,823
    )

    Net loss
     
    $
    (84,689
    )
     
    $
    (93,796
    )
     
    $
    9,107

Revenue

Revenue was $53.5 million for the year ended December 31, 2024, compared to $51.1 million for year ended December 31, 2023. The increase of $2.3 million was due to:

•a $36.3 million increase in revenue recognized under the Roche Agreement as a result of the $40.0 million milestone achievement in the first quarter of 2024 and higher deferred revenue recognized for the completion of the Continuing Trials. The Roche Agreement was terminated in May 2024;

•a $23.5 million decrease in revenue recognized under the BMS Agreement which expired in November 2023; and

•a $10.5 million decrease in revenue recognized under the Ono Agreement which expired in June 2023.

89

Research and Development Expenses, Net of Tax Credits 

Research and development expenses were $115.9 million for the year ended December 31, 2024, compared to $133.6 million for the year ended December 31, 2023