Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 151

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 151
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 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. The decrease of $17.7 million in research and development expenses was primarily due to: 

•a $9.1 million decrease in direct external costs of the camonsertib program due to end of Phase 1/2 TRESR and ATTACC;

•a $3.2 million increase in Debiopharm development cost reimbursement;

•a $2.4 million decrease in other direct external costs related to discovery programs;

•a $1.6 million decrease in the direct external costs of the RP-3467 & Polθ program;

•a $0.8 million decrease in direct external costs of the lunresertib program;

•a $0.6 million increase in the RP-1664 program as a result of the LIONS clinical trial underway; and

•a $0.6 million decrease in personnel costs; and

•a $0.6 million decrease in other research and material expenses including IT related costs and tax credits.

General and Administrative Expenses 

General and administrative expenses were $29.7 million for the year ended December 31, 2024, compared to $33.8 million for the year ended December 31, 2023. The decrease of $4.1 million in general and administrative expenses consisted of: 

•a $2.4 million decrease in personnel related costs, including a $2.1 million decrease in share-based compensation;

•a $1.2 million decrease in our D&O insurance premium due to lower renewal premiums; and

•a $0.5 million decrease in professional fees associated with lower renewal of legal and finance services.

Restructuring Expenses

Restructuring expenses was $1.4 million and nil for the years ended December 31, 2024 and 2023, respectively, as a result of costs incurred as part of our strategic refocus announced in August 2024, comprised primarily of severance and termination benefits.

Other Income (Expense), Net 

Other income, net was $10.3 million for the year ended December 31, 2024, compared to $13.0 million for the year ended December 31, 2023. The decrease of $2.8 million in other income