Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 67

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 67
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. The change in our net operating assets was primarily due to $12.0 million of deferred revenue being recognized with the satisfaction of performance obligations and by a net decrease of $2.1 million in accounts payable and accrued expenses, prepaid expenses, operating leases, other current liabilities and other current and non-current assets.

Net cash used in operating activities was $127.2 million for the year ended December 31, 2023, reflecting a net loss of $93.8 million, a net decrease of $55.2 million in our net operating assets offset by a net change in non-cash charges of $21.8 million. The non-cash charges primarily consist of share-based compensation for option grants to employees, as well as depreciation expense and non-cash lease expense offset by the net accretion/amortization of marketable securities. The change in our net operating assets was primarily due to $43.8 million of deferred revenue being recognized with the satisfaction of performance obligations and $14.3 million income tax recovery, offset by an increase of $4.3 million in account payable and accrued expenses and other current liabilities.

The $50.7 million decrease in cash used in operating activities for the year ended December 31, 2024 compared to December 31, 2023 is primarily due to the $40.0 million milestone payment received from Roche in the first quarter of 2024.

Investing Activities 

Net cash provided by investing activities was $49.5 million for the year ended December 31, 2024 and resulted primarily from proceeds from maturities of marketable securities offset by purchases of marketable securities.

Net cash provided by investing activities was $78.0 million for the year ended December 31, 2023 and resulted primarily from proceeds from maturities of marketable securities offset by purchases of marketable securities.

Financing Activities 

Net cash provided by financing activities was $0.5 million for the year ended December 31, 2024, consisting of net proceeds from the exercise of stock options and issuance of common shares under the ESPP.

Net cash provided by financing activities was $0.8 million for the year ended December 31, 2023, consisting of net proceeds from the exercise of stock options and issuance of common shares under the ESPP. 

93

Material Cash Requirements

As of December 31, 2024, we anticipate the aggregate of our cash and cash equivalents and marketable securities will be sufficient to fund our contractual obligations,