Company: RPTX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030405
Chunk: 108

Company: Repare Therapeutics Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 108
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34,035

        Transfer of clinical trial materials

        2,714

        Total transaction price
         
        $
        142,076

      Revenue associated with the combined licenses was recognized at a point in time upon the transfer of the licenses to Roche on the effective date of the Roche Agreement as the Company concluded that the combined licenses were a functional intellectual property license that Roche could benefit from as of the time of grant. Revenue associated with the transfer of clinical trial materials was recognized at a point in time upon delivery of the clinical trial materials to Roche in the year ended December 31, 2022. Revenue associated with the completion of the Continuing Trials was deferred, to be recognized on a proportional performance basis over the period of time to complete the Continuing Trials, using input-based measurements of total costs of research and development incurred to estimate the proportion performed. Progress towards completion is remeasured at the end of each reporting period.

125

        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
         
        $
        —

The Company recognized $14.5 million for the year ended December 31, 2023 as revenue associated with the Roche Agreement, in recognition of deferred revenue for research and development services performed towards the completion of the Continuing Trials during the period. As of December 31, 2023, there was $9.4 million of deferred revenue related to the Roche Agreement, of which $7.7 million was classified as current and $1.7 million was classified as non-current in the consolidated balance sheet based on the period the services to complete the Continuing Trials were expected to be performed. In February 2024, the Company received a $40 million milestone payment from Roche upon dosing of the first patient with camonsertib in Roche's Phase 2 TAPISTRY trial. The Company recognized $50.9 million as revenue for the year ended December 31, 2024 in relation to (i) the recognition of revenue from the $40.0 million milestone achievement in the first quarter of 2024, as well as (ii)