Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 141

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 141
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also known as lunresertib).

We determined that the transaction price at the onset of the Roche Agreement was $134.6 million, being (i) the total non-refundable upfront payment received of $125.0 million, (ii) the additional $4.0 million payment received, negotiated with Roche for revisions to the clinical development plan under the Roche Agreement as agreed at the time of the effective date of the Roche Agreement, and (iii) the $5.6 million received for the transfer of clinical trial materials.

In February 2023, we received an additional payment of $4.0 million negotiated with Roche for additional revisions to the clinical development plan. In March 2024, we received a further payment of $4.0 million for revisions to the clinical development plan under the Roche Agreement, of which $2.1 million was recorded as collaboration revenue receivable at December 31, 2023. The transaction price was updated for the additional consideration received, as well as other adjustments of $0.5 million pursuant to the termination of the agreement. 

    Performance obligation
     
    Transaction price

    (in thousands)

    Combined licenses
     
    $
    105,327

    Completion of Continuing Trials

    34,035

    Transfer of clinical trial materials

    2,714

    Total transaction price
     
    $
    142,076

    Deferred revenue pertaining to the Roche Agreement
     
    Completion of Continuing Trials

    (in thousands)

    Balance as of December 31, 2023
     
    $
    9,463

    Increase in collaboration revenue receivable

    41,425

    Recognition as revenue, as the result of performance obligations satisfied

    (50,888
    )

    Balance as of December 31, 2024
     
    $
    —

We recognized $50.9 million for the year ended December 31, 2024 as revenue associated with the Roche Agreement in relation to (i) the recognition of revenue from a $40.0 million milestone payment from Roche in February 2024 upon dosing of the first patient with camonsertib in Roche's Phase 2 TAPISTRY trial, as well as (ii) the recognition of all remaining deferred revenue for research and development services performed towards the 

83

completion of the Continuing Trials during the period. As of December 31, 202