Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 96

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 96
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 oncology programs. As part of this strategic refocus, the Company reduced its overall workforce by approximately 25 %, with a majority of the headcount reductions from the Company’s preclinical group. For the twelve months ended December 31, 2024, the Company incurred approximately $1.4 million (nil - 2023) in costs as part of this strategic refocus, comprised primarily of severance and termination benefits.

9. License Agreements In December 2016, as further amended in February 2017 and amended and restated in July 2018, the Company entered into a license agreement (the “NYU Agreement”) with New York University, pursuant to which the Company obtained a worldwide, royalty-bearing, exclusive license under certain patents and know-how of New York University to research, develop and commercialize products covered by such licensed patents. The Company is required to pay New 

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York University an annual non-refundable license fee, which is creditable against future milestone and royalty payments. The Company is required to pay amounts up to approximately $6.7 million in the aggregate upon achievement of certain clinical and commercial milestones and pay a low single digit royalty on future net sales of any product covered by a licensed product and a lower-single digit royalty on future net sales of any product not covered by a licensed product. The NYU Agreement expires on the date of expiration of all royalty obligations. In October 2024, the dosing of the first patient in the Company's POLAR Phase 1 dose finding clinical trial of RP-3467 alone and in combination with the poly-ADP ribose PARP inhibitor, olaparib, triggered the payment of a $0.1 million milestone to New York University under the terms of the NYU Agreement. 

Any potential future milestone or royalty payment amounts have not been accrued at December 31, 2024 and 2023 due to the uncertainty related to the successful achievement of these milestones. 

10. Leases The Company has historically entered into lease arrangements for its facilities and certain equipment. As of December 31, 2024, the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options.Operating Leases In June 2017, and as further amended in 2021, the Company entered into a lease agreement for office and laboratory space in Montréal, Québec, for a four-year term, ending in July 2021. In August 2021, the