0000950170-25-070351 | 10-Q | XBRL Viewer

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Revenue recognition from Collaboration and License Agreements - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	Mar. 31, 2024	May 31, 2020	Mar. 31, 2025	Mar. 31, 2024	Feb. 29, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements			$ 0	$ 52,404
Collaboration and License Agreement \| Third Additional Clinical Development Plan
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 9,800			9,800
Roche
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements			0	49,815
Roche \| Collaboration and License Agreement
Disaggregation of Revenue [Line Items]
Milestones payments received					$ 40,000
Deferred revenue recognized			0	49,800
Roche \| Collaboration and License Agreement \| Third Additional Clinical Development Plan
Disaggregation of Revenue [Line Items]
Collaboration revenue received	4,000			4,000
Collaboration revenue receivable earned						$ 2,100
Bristol-Myers Squibb Company
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements			0	2,589
Bristol-Myers Squibb Company \| Collaboration and License Agreement
Disaggregation of Revenue [Line Items]
Deferred revenue recognized			$ 0	$ 2,600
Collaboration term expiration date		Nov. 30, 2023
Bristol-Myers Squibb Company \| Collaboration and License Agreement \| Undruggable targets
Disaggregation of Revenue [Line Items]
Deferred revenue recognized	2,600
Option fee payment	$ 100
Bristol-Myers Squibb Company \| Collaboration and License Agreement \| Maximum
Disaggregation of Revenue [Line Items]
Milestone payments entitled to be received		$ 301,000
Bristol-Myers Squibb Company \| Collaboration and License Agreement \| Maximum \| Research, Development and Regulatory Milestones
Disaggregation of Revenue [Line Items]
Milestone payments entitled to be received		176,000
Bristol-Myers Squibb Company \| Collaboration and License Agreement \| Maximum \| Commercial Milestones
Disaggregation of Revenue [Line Items]
Milestone payments entitled to be received		$ 125,000

Share-Based Compensation

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

11. Share-Based Compensation

2020 Employee Share Purchase Plan

In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Employee Share Purchase Plan (“ESPP”). The number of shares reserved and available for issuance under the ESPP will automatically increase each January 1, beginning on January 1, 2021 and each January 1 thereafter through January 31, 2030, by the lesser of (1) 1.0% of the total number of common shares outstanding on December 31 of the preceding calendar year, (2) 3,300,000 common shares, or (3) such smaller number of common shares as the Company’s board of directors may designate.

The Company issued 73,239 common shares under the ESPP for the three months ended March 31, 2025, at a weighted-average price per share of $1.08, for aggregate proceeds of $0.1 million.

As of March 31, 2025, the number of common shares that may be issued under the ESPP is 2,059,261.

2020 Equity Incentive Plan

In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan became effective on the effective date of the Company's initial public offering (the “IPO”), at which time the Company ceased making awards under the Option Plan. The 2020 Plan allows the Company’s compensation committee to make equity-based and cash-based incentive awards to the Company’s officers, employees, directors and consultants including but not limited to stock options and restricted share units. The aggregate number of common shares reserved and available for issuance under the 2020 Plan has automatically increased on January 1 of each year beginning on January 1, 2021 and will continue to increase on January 1 of each year through and including January 1, 2030, by 5% of the outstanding number of common shares on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s board of directors.

As of March 31, 2025, the number of common shares reserved for issuance under the 2020 Plan is 14,386,042.

Inducement Plan

In April 2024, the Company’s board of directors approved the adoption of the 2024 Inducement Plan (the “Inducement Plan”), to be used exclusively for grants of awards to individuals who were not previously employees or directors (or following a bona fide period of non-employment) as a material inducement to such individuals’ entry into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4). The terms and conditions of the Inducement Plan are substantially similar to those of the 2020 Plan.

As of March 31, 2025, the number of common shares that may be issued under the Inducement Plan is 327,800.

Warrants

In November 2024, the Company issued a warrant, as compensation for services to a consultant, to purchase up to 35,000 common shares of the Company at an exercise price of $3.61 per share, vesting in equal quarterly installments over a two-year period. The warrant expires 5 years after the grant date.

During the three months ended March 31, 2025, we recognized $0.02 million of share-based compensation expense under general and administrative expenses.

Stock Options

The following table summarizes the Company’s stock option activity:


	Number of shares			Weighted average exercise price
Outstanding, January 1, 2025		10,883,904		$	12.79
Granted		1,426,000		$	1.17
Cancelled or forfeited		(1,117,258	)	$	15.35
Outstanding, March 31, 2025		11,192,646		$	11.05

The fair value of stock options, and the assumptions used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted average basis:


	Three Months Ended March 31,
	2025			2024

Fair value of stock options	$	0.91		$	5.08
Risk-free interest rate		4.09	%		4.19	%
Expected terms (in years)		6.56			6.08
Expected volatility		90.85	%		82.99	%
Expected dividend yield		0.00	%		0.00	%

Restricted Share Units

The following table summarizes the Company’s restricted share unit activity:


	Number of shares			Weighted average grant date fair value
Outstanding, January 1, 2025		764,159		$	9.22
Awarded		177,900		$	1.17
Vested and released		(307,456	)	$	9.76
Forfeited		(64,915	)	$	7.80
Outstanding, March 31, 2025		569,688		$	6.58

The fair value of each restricted share unit is estimated on the date of grant based on the fair value of our common shares on that same date.

Share-Based Compensation

Share-based compensation expense for all awards was allocated as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Research and development	$	2,307	$	3,419
General and administrative		1,651		3,056
Total share-based compensation expense	$	3,958	$	6,475

Share-based compensation expense by type of award was as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Stock options	$	2,725	$	5,685
Restricted share units		1,201		709
ESPP		32		81
Total share-based compensation expense	$	3,958	$	6,475

The first quarter of 2025 includes a cumulative-effect adjustment, which reduced overall share-based compensation expense by $2.9 million as a result of the resignation of certain executives during the period. As part of their severance arrangements, the Company approved an acceleration in vesting of their stock option and restricted share unit awards. The Company accounted for the award modifications under ASC 718, Compensation - Stock Compensation, and reflected the decrease in fair value of such modified awards as a cumulative-effect adjustment in the first quarter of 2025.

As of March 31, 2025, there was $11.5 million and $2.7 million of unrecognized share-based compensation expense to be recognized over a weighted average period of 1.3 years and 1.6 years related to unvested stock options and unvested restricted share units, respectively.

Restructuring Expenses	3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]
Restructuring Expenses	7. Restructuring Expenses In August 2024, the Company announced a strategic re-prioritization of the Company's research and development activities to focus its efforts on the advancement of its portfolio of clinical-stage 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. In the first quarter of 2025, the Company announced a further re-alignment of resources and a re-prioritization of its clinical portfolio and approved a phased reorganization plan pursuant to which it expects to reduce its workforce by approximately 75% by the fourth quarter of 2025. As a result of this initiative, the Company accelerated the depreciation of its laboratory equipment by $0.9 million in the first quarter of 2025, reflecting a shorter estimated remaining useful life for the equipment. For the three months ended March 31, 2025, the Company incurred approximately $3.3 million in costs as part of its restructuring efforts (nil for the three months ended March 31, 2024), comprised primarily of $2.3 million in severance and termination benefits and $0.9 million in accelerated depreciation expense.

Restructuring Expenses

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Expenses

7. Restructuring Expenses

In August 2024, the Company announced a strategic re-prioritization of the Company's research and development activities to focus its efforts on the advancement of its portfolio of clinical-stage 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.

In the first quarter of 2025, the Company announced a further re-alignment of resources and a re-prioritization of its clinical portfolio and approved a phased reorganization plan pursuant to which it expects to reduce its workforce by approximately 75% by the fourth quarter of 2025. As a result of this initiative, the Company accelerated the depreciation of its laboratory equipment by $0.9 million in the first quarter of 2025, reflecting a shorter estimated remaining useful life for the equipment.

For the three months ended March 31, 2025, the Company incurred approximately $3.3 million in costs as part of its restructuring efforts (nil for the three months ended March 31, 2024), comprised primarily of $2.3 million in severance and termination benefits and $0.9 million in accelerated depreciation expense.

Net (Loss) Income per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Net (Loss) Income per Share

12. Net (Loss) Income per Share

The following table summarizes the computation of basic and diluted net (loss) income per share attributable to common shareholders of the Company:


	Three Months Ended March 31,
	2025			2024
	(in thousands, except share and per share amounts)
Numerator:
Net (loss) income	$	(30,043	)	$	13,162
Denominator:
Weighted-average common shares outstanding — basic		42,591,730			42,234,001
Dilutive impact of outstanding stock options, restricted share units and shares issuable under the ESPP		—			1,790,197
Weighted-average common shares outstanding — diluted		42,591,730			44,024,198
Net (loss) income per share
Basic	$	(0.71	)	$	0.31
Diluted	$	(0.71	)	$	0.30

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:


	Three Months Ended March 31,
	2025		2024
Options to purchase common shares		11,192,646		8,778,678
Restricted share units		569,688		927,304
Estimated shares issuable under the ESPP		49,076		—

Segment Information - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($) Segments	Mar. 31, 2024 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segments	1
Number of operating segments \| Segments	1
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is reported on the consolidated statement of operations and comprehensive loss. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall level of resources available and how to deploy these resources across functions and programs that are in line with the Company's long-term company-wide strategic goals.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Revenue \| $	$ 0	$ 52,404
Customer One
Segment Reporting Information [Line Items]
Revenue \| $	$ 0	$ 49,800
Customer One \| Revenue From Contract With Customer \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Percentage of total revenue	10.00%

Cash and Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 200,000		$ 400,000
Debt securities unrealized loss position	12,900,000		7,800,000
OCI, unrealized loss on available for sale marketable securities	(45,000)	$ (141,000)
Allowance for credit losses or other impairment charges	$ 0		$ 0

Leases - Additional Information (Details)	3 Months Ended
Leases - Additional Information (Details)	Mar. 31, 2025 Lease
Lessee Lease Description [Line Items]
Number of operating leases	4
Lessee, operating lease, existence of option to terminate	false

Other Current Receivables (Tables)

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Schedule of Other Current Receivables

Other current receivables consisted of the following:


	As of March 31, 2025		As of December 31, 2024
	(in thousands)
Research and development tax credits receivable	$	955	$	820
Sales tax and other receivables		631		926
Total other current receivables	$	1,586	$	1,746

Cash and Cash Equivalents and Marketable Securities

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Cash and Cash Equivalents and Marketable Securities

3. Cash and Cash Equivalents and Marketable Securities

Cash and cash equivalents and marketable securities were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(in thousands)
As of March 31, 2025
Cash and cash equivalents:
Cash	$	41,019	$	—	$	—		$	41,019
Money market funds		43,436		—		—			43,436
Total cash and cash equivalents:	$	84,455	$	—	$	—		$	84,455
Marketable securities:
U.S. Treasury and government-sponsored enterprises	$	3,043	$	—	$	(1	)	$	3,042
Commercial paper		29,287		8		—			29,295
Corporate debt securities		7,434		2		—			7,436
Total marketable securities	$	39,764	$	10	$	(1	)	$	39,773

As of December 31, 2024
Cash and cash equivalents:
Cash	$	43,762	$	—	$	—		$	43,762
Money market funds		25,522		—		—			25,522
Commercial paper		15,430		3		—			15,433
Total cash and cash equivalents:	$	84,714	$	3	$	—		$	84,717
Marketable securities:
U.S. Treasury and government-sponsored enterprises	$	3,013	$	1	$	—		$	3,014
Commercial paper		40,688		39		(1	)		40,726
Corporate debt securities		24,322		13		(1	)		24,334
Total marketable securities	$	68,023	$	53	$	(2	)	$	68,074

Interest receivable was $0.2 million and $0.4 million as of March 31, 2025 and December 31, 2024, respectively, and is included in other current receivables.

The Company held available-for-sale marketable securities with an aggregate fair value of $12.9 and $7.8 million in an immaterial, unrealized loss position as of March 31, 2025 and December 31, 2024, respectively. These marketable securities have been in an unrealized loss position for less than twelve months. The unrealized losses were not attributed to credit risk but were primarily associated with changes in interest rates and market liquidity. The Company does not intend to sell these securities and it is more likely than not that it will hold these investments for a period of time sufficient to recover the amortized cost. As a result, the Company did not record an allowance for credit losses or other impairment charges for its marketable securities for the three months ended March 31, 2025 and 2024.

The Company recognized nil and $0.1 million of net unrealized loss in other comprehensive loss in the three months ended March 31, 2025 and 2024, respectively, in relation to its cash and cash equivalents and marketable securities.

The maturities of the Company’s marketable securities as of March 31, 2025 and December 31, 2024 are less than one year.

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Lease Costs
Operating lease costs	$ 590	$ 594
Short-term lease costs	34	19
Variable lease costs	72	85
Total lease costs	$ 696	$ 698

Fair Value Measurements - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Cash equivalents	$ 43,436	$ 40,955
Marketable securities	39,773	68,074
Total financial assets	83,209	109,029
Level 1
Assets
Cash equivalents	43,436	25,522
Marketable securities	0	0
Total financial assets	43,436	25,522
Level 2
Assets
Cash equivalents		15,433
Marketable securities	39,773	68,074
Total financial assets	39,773	83,507
Corporate debt securities
Assets
Marketable securities	7,436	24,334
Corporate debt securities \| Level 2
Assets
Marketable securities	7,436	24,334
U.S. Treasury and government-sponsored enterprises
Assets
Marketable securities	3,042	3,014
U.S. Treasury and government-sponsored enterprises \| Level 2
Assets
Marketable securities	3,042	3,014
Money market funds
Assets
Total financial assets	43,436	25,522
Money market funds \| Level 1
Assets
Total financial assets	43,436	25,522
Commercial paper
Assets
Cash equivalents		15,433
Marketable securities	29,295	40,726
Commercial paper \| Level 2
Assets
Cash equivalents		15,433
Marketable securities	$ 29,295	$ 40,726

Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Reportable Segment Net Loss, Including Significant Expense Categories, Attributable to Company's Reportable Segment

The following table presents reportable segment net loss, including significant expense categories, attributable to the Company's reportable segment for the three months ended March 31, 2025 and 2024.


	Three Months Ended March 31,
	2025			2024
	(in thousands)
Revenue:
Collaboration agreements	$	—		$	52,404
Operating expenses:
Discovery costs
Direct external costs		698			1,726
Laboratory supplies and research materials		254			998
Personnel related costs		1,507			3,186
Facilities related costs		358			405
Other costs		578			912
Development costs
Direct external costs
Camonsertib program		2,266			3,980
Lunresertib program		4,275			8,107
RP-1664 program		1,342			1,596
RP-3467 and Polθ program		1,097			1,555
Personnel related costs		8,163			9,659
Facilities related costs		247			208
Other costs		889			1,432
Debiopharm development cost reimbursement		(1,269	)		(500	)
R&D tax credits		(135	)		(294	)
Total research and development costs	$	20,270		$	32,970
Personnel related costs		4,577			5,719
Other general administrative costs (1)		3,075			2,899
Total general and administrative costs	$	7,652		$	8,618
Restructuring costs		3,265			—
(Loss) income from operations	$	(31,187	)	$	10,816
Other income, net (2)		1,514			2,975
Income tax expense		(370	)		(629	)
Net (loss) income	$	(30,043	)	$	13,162

(1) Includes professional fees, directors and officers insurance costs, public company operating costs, information technology related costs, and other administrative costs.

(2) Includes interest income and other expenses.

Schedule of the Company's Revenue by Location

Revenue by location is as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Switzerland	$	—	$	49,815
United States		—		2,589
Total revenue	$	—	$	52,404

Schedule of Property and Equipment, Net and Right-of-Use Assets by Location

The Company’s property and equipment, net by country of domicile (Canada) and its subsidiary in the United States are as follows:


	As of March 31,		As of December 31,
	2025		2024
	(in thousands)
Canada	$	1,011	$	2,143
United States		97		151
Total property and equipment, net	$	1,108	$	2,294

The Company’s right-of-use assets by country of domicile (Canada) and its subsidiary in the United States are as follows:


	As of March 31,		As of December 31,
	2025		2024
	(in thousands)
Canada	$	560	$	891
United States		805		1,033
Total right-of-use assets, net	$	1,365	$	1,924

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2025	May 05, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2025
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Trading Symbol	RPTX
Entity Registrant Name	Repare Therapeutics Inc.
Entity Central Index Key	0001808158
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,891,403
Title of 12(b) Security	Common shares, no par value
Security Exchange Name	NASDAQ
Entity File Number	001-39335
Entity Incorporation, State or Country Code	A8
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	7171 Frederick-Banting
Entity Address, Address Line Two	Building 2
Entity Address, Address Line Three	Suite 270
Entity Address, City or Town	St-Laurent
Entity Address, State or Province	QC
Entity Address, Country	CA
Entity Address, Postal Zip Code	H4S 1Z9
City Area Code	857
Local Phone Number	412-7018
Document Quarterly Report	true
Document Transition Report	false

Other Current Receivables - Schedule of Other Current Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Research and development tax credits receivable	$ 955	$ 820
Sales tax and other receivables	631	926
Total other current receivables	$ 1,586	$ 1,746

Organization and Nature of Business

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Business

1. Organization and Nature of Business

Repare Therapeutics Inc. (“Repare” or the “Company”) is a precision medicine oncology company focused on the development of synthetic lethality-based therapies for patients with cancer. The Company is governed by the Business Corporations Act (Québec). The Company’s common shares are listed on the Nasdaq Global Select Market under the ticker symbol “RPTX”.

Leases - Summary of Other Operating Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Leases [Abstract]
Operating cash flows used for operating leases	$ 590	$ 613
Weighted-average remaining lease term (in years)	8 months 1 day	1 year 2 months 23 days
Weighted-average discount rate	8.20%	4.20%

Subsequent Event - Additional Information (Details) - Subsequent Event - DCx Biotherapeutics Corporation $ in Millions	May 01, 2025 USD ($) Employees
Subsequent Event [Line Items]
Upfront and near-term payments received \| $	$ 4.0
Equity position percentage	9.99%
Number of employees retained \| Employees	20

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share Option Activity

The following table summarizes the Company’s stock option activity:


	Number of shares			Weighted average exercise price
Outstanding, January 1, 2025		10,883,904		$	12.79
Granted		1,426,000		$	1.17
Cancelled or forfeited		(1,117,258	)	$	15.35
Outstanding, March 31, 2025		11,192,646		$	11.05

Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model


	Three Months Ended March 31,
	2025			2024

Fair value of stock options	$	0.91		$	5.08
Risk-free interest rate		4.09	%		4.19	%
Expected terms (in years)		6.56			6.08
Expected volatility		90.85	%		82.99	%
Expected dividend yield		0.00	%		0.00	%

Summary of Total Outstanding Restricted Stock Units

The following table summarizes the Company’s restricted share unit activity:


	Number of shares			Weighted average grant date fair value
Outstanding, January 1, 2025		764,159		$	9.22
Awarded		177,900		$	1.17
Vested and released		(307,456	)	$	9.76
Forfeited		(64,915	)	$	7.80
Outstanding, March 31, 2025		569,688		$	6.58

Schedule of Share-based Compensation Expense

Share-based compensation expense for all awards was allocated as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Research and development	$	2,307	$	3,419
General and administrative		1,651		3,056
Total share-based compensation expense	$	3,958	$	6,475

Share-based compensation expense by type of award was as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Stock options	$	2,725	$	5,685
Restricted share units		1,201		709
ESPP		32		81
Total share-based compensation expense	$	3,958	$	6,475

Fair Value Measurements - Additional Information (Details)	Mar. 31, 2025 USD ($)
Fair Value Disclosures [Abstract]
Fair value, assets, transfers between levels	$ 0

Restructuring Expenses - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Aug. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Percentage of overall reduction in workforce	25.00%	75.00%
Depreciation expense		$ 900,000
Restructuring costs		3,300,000	$ 0
Severance and termination benefits		$ 2,300,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net (Loss) Income per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Shareholders

The following table summarizes the computation of basic and diluted net (loss) income per share attributable to common shareholders of the Company:


	Three Months Ended March 31,
	2025			2024
	(in thousands, except share and per share amounts)
Numerator:
Net (loss) income	$	(30,043	)	$	13,162
Denominator:
Weighted-average common shares outstanding — basic		42,591,730			42,234,001
Dilutive impact of outstanding stock options, restricted share units and shares issuable under the ESPP		—			1,790,197
Weighted-average common shares outstanding — diluted		42,591,730			44,024,198
Net (loss) income per share
Basic	$	(0.71	)	$	0.31
Diluted	$	(0.71	)	$	0.30

Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect


	Three Months Ended March 31,
	2025		2024
Options to purchase common shares		11,192,646		8,778,678
Restricted share units		569,688		927,304
Estimated shares issuable under the ESPP		49,076		—

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0	$ 0
Preferred stock shares authorized	Unlimited	Unlimited
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0	$ 0
Common stock shares authorized	Unlimited	Unlimited
Common stock shares issued	42,891,403	42,510,708
Common stock shares outstanding	42,891,403	42,510,708

Segment Information - Schedule of Reportable Segment Net Loss, Including Significant Expense Categories Attributable to Company's Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Segment Reporting Information [Line Items]
Collaboration agreements	$ 0	$ 52,404
Operating expenses:
Total research and development costs	20,270	32,970
Total general and administrative costs	7,652	8,618
Restructuring costs	3,265	0
(Loss) income from operations	(31,187)	10,816
Other income, net	1,514	2,975
Income tax expense	(370)	(629)
Net (loss) income	(30,043)	13,162
Operating Segments
Segment Reporting Information [Line Items]
Collaboration agreements	0	52,404
Operating expenses:
R&D tax credits	(135)	(294)
Total research and development costs	20,270	32,970
Personnel related costss	4,577	5,719
Other general administrative costs	3,075	2,899
Total general and administrative costs	7,652	8,618
Restructuring costs	3,265	0
(Loss) income from operations	(31,187)	10,816
Other income, net	1,514	2,975
Income tax expense	(370)	(629)
Net (loss) income	(30,043)	13,162
Operating Segments \| Discovery Costs
Operating expenses:
Direct external costs	698	1,726
Laboratory supplies and research materials	254	998
Personnel related costs	1,507	3,186
Facilities related costs	358	405
Other costs	578	912
Operating Segments \| Development Costs
Operating expenses:
Personnel related costs	8,163	9,659
Facilities related costs	247	208
Other costs	889	1,432
Debiopharm development cost reimbursement	(1,269)	(500)
Operating Segments \| Development Costs \| Camonsertib Program
Operating expenses:
Direct external costs	2,266	3,980
Operating Segments \| Development Costs \| Lunresertib Program
Operating expenses:
Direct external costs	4,275	8,107
Operating Segments \| Development Costs \| RP-1664 Program
Operating expenses:
Direct external costs	1,342	1,596
Operating Segments \| Development Costs \| RP-3467 and Pol Program
Operating expenses:
Direct external costs	$ 1,097	$ 1,555

Fair Value Measurements

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•

Level 1 – Quoted prices in active markets for identical assets or liabilities.

•

Level 2 – Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

•

Level 3 – Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values:


Description	Financial Assets		Level 1		Level 2		Level 3
	(in thousands)
As of March 31, 2025
Assets
Cash equivalents:
Money market funds	$	43,436	$	43,436	$	—	$	—
Total cash equivalents		43,436		43,436		—		—
Marketable securities:
U.S. Treasury and government-sponsored enterprises		3,042		—		3,042		—
Commercial paper		29,295		—		29,295		—
Corporate debt securities		7,436		—		7,436		—
Total marketable securities		39,773		—		39,773		—
Total financial assets	$	83,209	$	43,436	$	39,773	$	—

As of December 31, 2024
Assets
Cash equivalents:
Money market funds	$	25,522	$	25,522	$	—	$	—
Commercial paper		15,433		—		15,433		—
Total cash equivalents		40,955		25,522		15,433		—
Marketable securities:
U.S. Treasury and government-sponsored enterprises		3,014		—		3,014		—
Commercial paper		40,726		—		40,726		—
Corporate debt securities		24,334		—		24,334		—
Total marketable securities		68,074		—		68,074		—
Total financial assets	$	109,029	$	25,522	$	83,507	$	—

When developing fair value estimates, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs. When available, the Company uses quoted market prices to measure the fair value. In determining the fair values at each date presented above, the Company relied on quoted prices for similar securities in active markets or using other inputs that are observable or can be corroborated by observable market data.

During the three months ended March 31, 2025, there were no transfers between fair value measure levels.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	Nov. 30, 2024	Jun. 30, 2020	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares issued			42,891,403		42,510,708
Share-based compensation expense			$ 3,958	$ 6,475
Cumulative Effect Adjustment [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense			2,900
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense			1,651	3,056
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested restricted share units			$ 2,700
Unrecognized share-based compensation expense related to unvested stock options, weighted average period			1 year 7 months 6 days
Share-based compensation expense			$ 1,201	709
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested stock options			$ 11,500
Unrecognized share-based compensation expense related to unvested stock options, weighted average period			1 year 3 months 18 days
Share-based compensation expense			$ 2,725	$ 5,685
Inducement Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			327,800
Warrant \| Non Employee Warrant Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares called by warrants (in shares)	35,000
Exercise price called by warrants (in dollars per share)	$ 3.61
Vesting period (in years)	2 years
Warrant outstanding, term	5 years
Non employee Warrant Expense \| General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense			$ 20
2020 Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			2,059,261
Annual increase in number of shares available for issuance maximum number of common stock issued		3,300,000
Common stock shares issued			73,239
Shares issued, price per share			$ 1.08
Cash received from purchases under ESPP			$ 100
2020 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			14,386,042

Net (Loss) Income per Share - Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect (Details) - shares	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Options to Purchase Common Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	11,192,646	8,778,678
Restricted Share Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	569,688	927,304
Estimated Shares Issuable Under the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	49,076	0

Subsequent Event

3 Months Ended

Mar. 31, 2025

Subsequent Events [Abstract]

Subsequent Event

14. Subsequent Event

On May 1, 2025, the Company announced that it out-licensed its early-stage discovery platforms, including certain platform and program intellectual property, to DCx Biotherapeutics Corporation (“DCx”). Under the terms of the out-licensing agreement, the Company will receive upfront and near-term payments totaling $4.0 million, as well as a 9.99% equity position in DCx, including certain dilution protection rights, and is eligible to receive potential future out-licensing, clinical and commercial milestone payments, as well as low single-digit tiered sales royalties for the development of certain products by DCx. Additionally, DCx will retain approximately 20 of the Company's preclinical research employees.

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	2020 Employee Share Purchase Plan	Common Shares	Common Shares 2020 Employee Share Purchase Plan	Warrant	Additional Paid-in Capital	Additional Paid-in Capital 2020 Employee Share Purchase Plan	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Dec. 31, 2023	$ 212,082		$ 483,350			$ 61,813		$ 28	$ (333,109)
Balance, Shares at Dec. 31, 2023			42,176,041
Share-based compensation expense	6,475					6,475
Exercise of stock options	17		$ 27			(10)
Exercise of stock options, Shares			8,485
Issuance of common shares on vesting of restricted share units			$ 2,488			(2,488)
Issuance of common shares on vesting of restricted share units , Shares			200,262
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 358		$ 510			$ (152)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				60,618
Other comprehensive loss	(141)							(141)
Net income (loss)	13,162								13,162
Balance at Mar. 31, 2024	231,953		$ 486,375			65,638		(113)	(319,947)
Balance, Shares at Mar. 31, 2024			42,445,406
Balance at Dec. 31, 2024	151,131		$ 486,674		$ 10	82,191		54	(417,798)
Balance, Shares at Dec. 31, 2024			42,510,708
Share-based compensation expense	3,958					3,958
Issuance of common shares on vesting of restricted share units			$ 3,002			(3,002)
Issuance of common shares on vesting of restricted share units , Shares			307,456
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 79		$ 160			$ (81)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				73,239
Non-employee warrant expense	17				17
Other comprehensive loss	(45)							(45)
Net income (loss)	(30,043)								(30,043)
Balance at Mar. 31, 2025	$ 125,097		$ 489,836		$ 27	$ 83,066		$ 9	$ (447,841)
Balance, Shares at Mar. 31, 2025			42,891,403

Revenue recognition from Collaboration and License Agreements - Schedule of Revenue From Collaboration and License Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements	$ 0	$ 52,404
Roche
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements	0	49,815
Bristol-Myers Squibb Company
Disaggregation of Revenue [Line Items]
Revenue from collaboration and license agreements	$ 0	$ 2,589

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Cash and Cash Equivalents and Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Cash and Cash Equivalents and Marketable Securities

Cash and cash equivalents and marketable securities were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(in thousands)
As of March 31, 2025
Cash and cash equivalents:
Cash	$	41,019	$	—	$	—		$	41,019
Money market funds		43,436		—		—			43,436
Total cash and cash equivalents:	$	84,455	$	—	$	—		$	84,455
Marketable securities:
U.S. Treasury and government-sponsored enterprises	$	3,043	$	—	$	(1	)	$	3,042
Commercial paper		29,287		8		—			29,295
Corporate debt securities		7,434		2		—			7,436
Total marketable securities	$	39,764	$	10	$	(1	)	$	39,773

As of December 31, 2024
Cash and cash equivalents:
Cash	$	43,762	$	—	$	—		$	43,762
Money market funds		25,522		—		—			25,522
Commercial paper		15,430		3		—			15,433
Total cash and cash equivalents:	$	84,714	$	3	$	—		$	84,717
Marketable securities:
U.S. Treasury and government-sponsored enterprises	$	3,013	$	1	$	—		$	3,014
Commercial paper		40,688		39		(1	)		40,726
Corporate debt securities		24,322		13		(1	)		24,334
Total marketable securities	$	68,023	$	53	$	(2	)	$	68,074

Segment Information - Schedule of the Company's Revenue by Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 52,404
Switzerland
Segment Reporting Information [Line Items]
Total revenue	0	49,815
United States
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 2,589

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2025
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2024, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of March 31, 2025, the consolidated results of its operations for the three months ended March 31, 2025 and 2024, its statements of shareholders’ equity for the three months ended March 31, 2025 and 2024 and its consolidated cash flows for the three months ended March 31, 2025 and 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 3, 2025 (the “Annual Report”). The condensed consolidated balance sheet data as of December 31, 2024 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. The results for the three months ended March 31, 2025 are not necessarily indicative of the operating results to be expected for the full year or for any other subsequent interim period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2024 included in the Annual Report. There have been no changes to the Company's significant accounting policies since the date of the audited consolidated financial statements for the year ended December 31, 2024 included in the Annual Report. Principles of Consolidation These unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation. Smaller Reporting Company Repare qualified as a “smaller reporting company” under the Exchange Act as of June 30, 2024 because the market value of its common shares held by non-affiliates was less than $200 million as of June 30, 2024. As a smaller reporting company, Repare may rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. For so long as the Company remains a smaller reporting company, it is permitted and intends to rely on such exemptions from certain disclosure and other requirements that are applicable to other public companies that are not smaller reporting companies. Segment Information Operating segments refer to components of a company that engage in activities for which separate financial information is available and reviewed regularly by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources and assessing performance. The CODM is the Company's Chief Executive Officer. The Company manages its operations as a single operating segment, which is the research, development and eventual commercialization of precision oncology drugs targeting specific vulnerabilities of tumors in genetically defined patient populations. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB amended the guidance in ASU r740, Income Taxes, to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The new guidance is effective for public entities in fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company will adopt the new disclosure requirements in its 2025 Annual Report on Form 10-K. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, and issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-4): Clarifying the Effective Date in January 2025. These ASUs require public business entities to provide additional disclosures on specific expense categories in the notes to financial statements for both interim and annual reporting periods. While the amendments don’t change current disclosure requirements, they change where this information must be presented, requiring certain disclosures to be in a tabular format alongside other disaggregation details. These ASUs are effective for annual periods starting after December 15, 2026, and interim periods after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this ASU on its consolidated financial statements.

Revenue recognition from Collaboration and License Agreements (Tables)

3 Months Ended

Mar. 31, 2025

Disaggregation of Revenue [Line Items]

Schedule of Revenue From Collaboration and License Agreements

The following table presents revenue from collaboration and license agreements:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Roche Collaboration and License Agreement	$	—	$	49,815
Bristol-Myers Squibb Collaboration and License Agreement		—		2,589
Total revenue	$	—	$	52,404

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis


Description	Financial Assets		Level 1		Level 2		Level 3
	(in thousands)
As of March 31, 2025
Assets
Cash equivalents:
Money market funds	$	43,436	$	43,436	$	—	$	—
Total cash equivalents		43,436		43,436		—		—
Marketable securities:
U.S. Treasury and government-sponsored enterprises		3,042		—		3,042		—
Commercial paper		29,295		—		29,295		—
Corporate debt securities		7,436		—		7,436		—
Total marketable securities		39,773		—		39,773		—
Total financial assets	$	83,209	$	43,436	$	39,773	$	—

As of December 31, 2024
Assets
Cash equivalents:
Money market funds	$	25,522	$	25,522	$	—	$	—
Commercial paper		15,433		—		15,433		—
Total cash equivalents		40,955		25,522		15,433		—
Marketable securities:
U.S. Treasury and government-sponsored enterprises		3,014		—		3,014		—
Commercial paper		40,726		—		40,726		—
Corporate debt securities		24,334		—		24,334		—
Total marketable securities		68,074		—		68,074		—
Total financial assets	$	109,029	$	25,522	$	83,507	$	—

Other Current Receivables

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Other Current Receivables

5. Other Current Receivables

Other current receivables consisted of the following:


	As of March 31, 2025		As of December 31, 2024
	(in thousands)
Research and development tax credits receivable	$	955	$	820
Sales tax and other receivables		631		926
Total other current receivables	$	1,586	$	1,746

Collaborative Arrangements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Debiopharm
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reimbursement of Research and Development Cost Contract	$ 1.3	$ 0.5

Net (Loss) Income per Share - Summary of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Numerator:
Net (loss) income	$ (30,043)	$ 13,162
Denominator:
Weighted-average common shares outstanding-basic	42,591,730	42,234,001
Dilutive impact of outstanding stock options, restricted share units and shares issuable under the ESPP	0	1,790,197
Weighted-average common shares outstanding-diluted	42,591,730	44,024,198
Net (loss) income per share basic	$ (0.71)	$ 0.31
Net (loss) income per share diluted	$ (0.71)	$ 0.3

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash Flows From Operating Activities:
Net (loss) income for the period	$ (30,043)	$ 13,162
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	3,975	6,475
Depreciation expense	1,186	501
Non-cash lease expense	559	563
Foreign exchange gain	(2)	(22)
Net accretion of marketable securities	(533)	(1,245)
Changes in operating assets and liabilities:
Prepaid expenses	1,466	1,286
Other current receivables	160	1,110
Other non-current assets	179	89
Accounts payable	(1,341)	4,431
Accrued expenses and other current liabilities	(4,549)	(3,587)
Operating lease liability, current portion	(472)	(153)
Income taxes	370	630
Operating lease liability, net of current portion	(88)	(429)
Deferred revenue	0	(10,879)
Net cash (used in) provided by operating activities	(29,133)	11,932
Cash Flows From Investing Activities:
Proceeds from maturities of marketable securities	36,665	69,015
Purchase of marketable securities	(7,873)	(89,331)
Net cash provided by (used in) investing activities	28,792	(20,316)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	0	17
Proceeds from issuance of common stock under the 2020 Employee Share Purchase Plan	79	358
Net cash provided by financing activities	79	375
Effect of exchange rate fluctuations on cash held	0	(42)
Net Decrease In Cash And Cash Equivalents	(262)	(8,051)
Cash and cash equivalents at beginning of period	84,717	111,268
Cash and cash equivalents at end of period	$ 84,455	$ 103,217

Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

10. Leases

The Company has historically entered into lease arrangements for its facilities. As of March 31, 2025, 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

The following tables contain a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Operating Leases - Lease Costs
Operating lease costs	$	590	$	594
Short-term lease costs		34		19
Variable lease costs		72		85
Total lease costs	$	696	$	698


	Three Months Ended March 31,
	2025			2024
	(in thousands, except as specified otherwise)
Other Operating Lease Information
Operating cash flows used for operating leases	$	590		$	613
Weighted-average remaining lease term (in years)		0.67			1.23
Weighted-average discount rate		8.2	%		4.2	%

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 84,455	$ 84,717
Marketable securities	39,773	68,074
Income tax receivable	9,983	10,600
Other current receivables	1,586	1,746
Prepaid expenses	4,546	6,012
Total current assets	140,343	171,149
Property and equipment, net	1,108	2,294
Operating lease right-of-use assets	1,365	1,924
Income tax receivable	1,207	960
Other assets	0	179
TOTAL ASSETS	144,023	176,506
CURRENT LIABILITIES:
Accounts payable	2,284	3,623
Accrued expenses and other current liabilities	15,270	19,819
Operating lease liability, current portion	1,372	1,845
Total current liabilities	18,926	25,287
Operating lease liability, net of current portion	0	88
TOTAL LIABILITIES	18,926	25,375
SHAREHOLDERS’ EQUITY
Preferred shares, no par value per share; unlimited shares authorized as of March 31, 2025 and December 31, 2024 ; 0 shares issued and outstanding as of March 31, 2025, and December 31, 2024	0	0
Common shares, no par value per share; unlimited shares authorized as of March 31, 2025 and December 31, 2024; 42,891,403 and 42,510,708 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	489,836	486,674
Warrants	27	10
Additional paid-in capital	83,066	82,191
Accumulated other comprehensive income	9	54
Accumulated deficit	(447,841)	(417,798)
Total shareholders’ equity	125,097	151,131
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 144,023	$ 176,506

Cash and Cash Equivalents and Marketable Securities - Summary of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 84,455	$ 84,714
Unrealized Gains	0	3
Unrealized Losses	0	0
Fair Value	84,455	84,717
Money market funds \| Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	43,436	25,522
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	43,436	25,522
Marketable securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	39,764	68,023
Unrealized Gains	10	53
Unrealized Losses	(1)	(2)
Fair Value	39,773	68,074
Commercial paper \| Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		15,430
Unrealized Gains		3
Unrealized Losses		0
Fair Value		15,433
Commercial paper \| Marketable securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	29,287	40,688
Unrealized Gains	8	39
Unrealized Losses	0	(1)
Fair Value	29,295	40,726
Corporate debt securities \| Marketable securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	7,434	24,322
Unrealized Gains	2	13
Unrealized Losses	0	(1)
Fair Value	7,436	24,334
U.S. Treasury and government-sponsored enterprises \| Marketable securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	3,043	3,013
Unrealized Gains	0	1
Unrealized Losses	(1)	0
Fair Value	3,042	3,014
Cash \| Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	41,019	43,762
Fair Value	$ 41,019	$ 43,762

Share-Based Compensation - Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model (Details) - 2020 Equity Incentive Plan - $ / shares	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value of stock options	$ 0.91	$ 5.08
Risk-free interest rate	4.09%	4.19%
Expected terms (in years)	6 years 6 months 21 days	6 years 29 days
Expected volatility	90.85%	82.99%
Expected dividend yield	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (30,043)	$ 13,162

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 3,958	$ 6,475
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	2,307	3,419
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1,651	3,056
Employee Stock Option
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	2,725	5,685
Restricted Share Units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1,201	709
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 32	$ 81

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued research and development expense	$ 8,895	$ 13,360
Accrued compensation and benefits	3,050	5,617
Accrued professional services	1,355	502
Accrued restructuring expenses	1,470	174
Other	500	166
Total accrued expenses and other current liabilities	$ 15,270	$ 19,819

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Summary of Lease Costs

The following tables contain a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Operating Leases - Lease Costs
Operating lease costs	$	590	$	594
Short-term lease costs		34		19
Variable lease costs		72		85
Total lease costs	$	696	$	698

Revenue recognition from Collaboration and License Agreements

3 Months Ended

Mar. 31, 2025

Revenue Recognition [Abstract]

Revenue recognition from Collaboration and License Agreements

9. Revenue Recognition from Collaboration and License Agreements

The following table presents revenue from collaboration and license agreements:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Roche Collaboration and License Agreement	$	—	$	49,815
Bristol-Myers Squibb Collaboration and License Agreement		—		2,589
Total revenue	$	—	$	52,404

The Company’s revenue recognition accounting policy, as well as additional information on the Company’s collaboration and license agreements are disclosed in the audited consolidated financial statements for the year ended December 31, 2024 included in the Annual Report.

Roche Collaboration and License Agreement

In June 2022, the Company entered into a collaboration and license agreement (the “Roche Agreement”) with Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively, “Roche”) regarding the development and commercialization of the Company’s product candidate camonsertib (also known as RP-3500) and specified other Ataxia-Telangiectasia and Rad3-related protein kinase (“ATR”) inhibitors (the “Licensed Products”). Pursuant to the Roche Agreement, the Company granted Roche a worldwide, perpetual, exclusive, sublicensable license to develop, manufacture, and commercialize the Licensed Products, as well as a non-exclusive, sublicensable license to certain related companion diagnostics. The Company agreed to complete specified ongoing clinical trials in accordance with the development plan in the Roche Agreement, as well as ongoing investigator sponsored trials (together, the “Continuing Trials”) at the Company’s expense. Roche assumed all subsequent development of camonsertib with the potential to expand development into additional tumors and multiple combination studies.

On February 7, 2024, the Company received a written notice from Roche of their election to terminate the Roche Agreement following a review of Roche’s pipeline and evolving external factors. The termination became effective May 7, 2024, at which time the Company regained global development and commercialization rights for camonsertib from Roche.

In February 2024, the Company received a $40.0 million milestone payment from Roche that was earned upon dosing of the first patient with camonsertib in Roche’s Phase 2 TAPISTRY trial in January 2024.

In March 2024, the Company received a payment of $4.0 million for revisions to the clinical development plan under the Roche Agreement, of which $2.1 million was previously recorded as a receivable at December 31, 2023.

The Company recognized nil and $49.8 million as revenue for the three months ended March 31, 2025 and 2024, respectively. Revenue recognized in the first quarter of 2024 was in relation to (i) the $40.0 million milestone achievement in the first quarter of 2024, as well as (ii) the partial recognition of $9.8 million of deferred revenue for research and development services performed towards the completion of the Continuing Trials during the period.

Bristol-Myers Squibb Collaboration and License Agreement

In May 2020, the Company entered into a collaboration and license agreement (the “BMS Agreement”) with Bristol-Myers Squibb Company (“Bristol-Myers Squibb”), pursuant to which the Company and Bristol-Myers Squibb have agreed to collaborate in the research and development of potential new product candidates for the treatment of cancer. The Company provided Bristol-Myers Squibb access to a selected number of its existing screening campaigns and novel campaigns. The Company was responsible for carrying out early-stage research activities directed to identifying potential targets for potential licensing by Bristol-Myers Squibb, in accordance with a mutually agreed upon research plan, and was solely responsible for such costs. The collaboration consisted of programs directed to both druggable targets and to targets commonly considered undruggable to traditional small molecule approaches. Upon

Bristol-Myers Squibb’s election to exercise its option to obtain exclusive worldwide licenses for the subsequent development, manufacturing and commercialization of a program, Bristol-Myers Squibb will then be solely responsible for all such worldwide activities and costs.

Although the collaboration term expired in November 2023, the BMS Agreement will not expire until, on a licensed product-by-licensed product and country-by-country basis, the expiration of the applicable royalty term and in its entirety upon expiration of the last royalty term. Either party may terminate earlier upon an uncured material breach of the agreement by the other party, or the insolvency of the other party. Additionally, Bristol-Myers Squibb may terminate the BMS Agreement for any or no reason on a program-by-program basis upon specified written notice.

The Company is entitled to receive up to $301.0 million in total milestones on a program-by-program basis, consisting of $176.0 million in the aggregate for certain specified research, development and regulatory milestones and $125.0 million in the aggregate for certain specified commercial milestones. The Company is further entitled to a tiered percentage royalty on annual net sales ranging from high-single digits to low-double digits, subject to certain specified reductions.

In March 2024, Bristol-Myers Squibb exercised its one remaining option for an undruggable target. As a result, the Company recognized $2.6 million as revenue related to undruggable targets, including the option fee payment of $0.1 million.

The Company recognized nil and $2.6 million as revenue for the three months ended March 31, 2025 and 2024, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Collaborative Arrangements

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborative Arrangements

8. Collaborative Arrangements

Debiopharm Clinical Study and Collaboration Agreement

In January 2024, the Company entered into a clinical study and collaboration agreement with Debiopharm International S.A. (“Debiopharm”), a privately-owned, Swiss-based biopharmaceutical company, with the aim to explore the synergy between the Company’s compound, lunresertib, and Debiopharm’s compound, Debio 0123, a WEE1 inhibitor (the “Debio Collaboration Agreement”). The Company and Debiopharm are collaborating on the development of a combination therapy, with the Company sponsoring the global study, and will share all costs equally. The Company and Debiopharm are each supplying their respective drugs and retain all commercial rights to their respective compounds, including as monotherapy or as combination therapies. The activities associated with the Debio Collaboration Agreement are coordinated by a joint steering committee, which is comprised of an equal number of representatives from the Company and Debiopharm.

Based on the terms of the Debio Collaboration Agreement, the Company concluded that the Debio Collaboration Agreement meets the requirements of a collaboration within the guidance of ASC 808, Collaborative Arrangements, as both parties are active participants in the combination trial and are exposed to significant risks and rewards depending on the success of the combination trial.

Accordingly, the net costs associated with the co-development are expensed as incurred and recognized within research and development expenses in the condensed consolidated statement of operations and comprehensive loss.

During the three months ended March 31, 2025 and 2024, the Company recognized $1.3 million and $0.5 million, respectively, in net research and development costs with regards to the Debiopharm portion of the 50/50 cost sharing terms in the Debio Collaboration Agreement.

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Revenue:
Collaboration agreements	$ 0	$ 52,404
Operating expenses:
Research and development, net of tax credits	20,270	32,970
General and administrative	7,652	8,618
Restructuring	3,265	0
Total operating expenses	31,187	41,588
(Loss) income from operations	(31,187)	10,816
Other income (expense), net
Realized and unrealized (loss) gain on foreign exchange	(2)	31
Interest income	1,538	2,968
Other expense, net	(22)	(24)
Total other income, net	1,514	2,975
(Loss) income before income taxes	(29,673)	13,791
Income tax expense	(370)	(629)
Net (loss) income	(30,043)	13,162
Other comprehensive loss:
Unrealized loss on available-for-sale marketable securities	(45)	(141)
Total other comprehensive loss	(45)	(141)
Comprehensive (loss) income	$ (30,088)	$ 13,021
Net (loss) income per share attributable to common shareholders--Basic	$ (0.71)	$ 0.31
Net (loss) income per share attributable to common shareholders--Diluted	$ (0.71)	$ 0.3
Weighted-average common shares outstanding-basic	42,591,730	42,234,001
Weighted-average common shares outstanding-diluted	42,591,730	44,024,198

Share-Based Compensation - Schedule of Share Option Activity (Details)	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of shares, Outstanding at beginning of period \| shares	10,883,904
Number of shares, Granted \| shares	1,426,000
Number of shares, Cancelled or forfeited \| shares	(1,117,258)
Number of shares, Outstanding at end of period \| shares	11,192,646
Weighted average exercise price, Outstanding at beginning of period \| $ / shares	$ 12.79
Weighted average exercise price of stock options granted \| $ / shares	1.17
Weighted average exercise price, Cancelled or forfeited \| $ / shares	15.35
Weighted average exercise price, Outstanding at end of period \| $ / shares	$ 11.05

Segment Information - Schedule of Property and Equipment, Net by Location (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,108	$ 2,294
Canada
Segment Reporting Information [Line Items]
Property and equipment, net	1,011	2,143
United States
Segment Reporting Information [Line Items]
Property and equipment, net	$ 97	$ 151

Segment Information - Schedule of Right-of-Use Assets by Location (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	$ 1,365	$ 1,924
Canada
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	560	891
United States
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	$ 805	$ 1,033

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2024, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of March 31, 2025, the consolidated results of its operations for the three months ended March 31, 2025 and 2024, its statements of shareholders’ equity for the three months ended March 31, 2025 and 2024 and its consolidated cash flows for the three months ended March 31, 2025 and 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 3, 2025 (the “Annual Report”). The condensed consolidated balance sheet data as of December 31, 2024 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. The results for the three months ended March 31, 2025 are not necessarily indicative of the operating results to be expected for the full year or for any other subsequent interim period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2024 included in the Annual Report. There have been no changes to the Company's significant accounting policies since the date of the audited consolidated financial statements for the year ended December 31, 2024 included in the Annual Report.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation.
Segment Information	Segment Information Operating segments refer to components of a company that engage in activities for which separate financial information is available and reviewed regularly by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources and assessing performance. The CODM is the Company's Chief Executive Officer. The Company manages its operations as a single operating segment, which is the research, development and eventual commercialization of precision oncology drugs targeting specific vulnerabilities of tumors in genetically defined patient populations.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known.

- Definition

Disclosure of accounting policy for segment reporting.

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+ Details

Accrued Expenses and Other Current Liabilities

3 Months Ended

Mar. 31, 2025

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

6. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of March 31, 2025		As of December 31, 2024
	(in thousands)
Accrued research and development expense	$	8,895	$	13,360
Accrued compensation and benefits		3,050		5,617
Accrued professional services		1,355		502
Accrued restructuring expenses		1,470		174
Other		500		166
Total accrued expenses and other current liabilities	$	15,270	$	19,819

Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

13. Segment information

The Company operates and manages its business as a single reporting and operating segment, which is the research and development of precision oncology drugs targeting specific vulnerabilities of tumors in genetically defined patient populations. The Company's CODM is the Chief Executive Officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is reported on the consolidated statement of operations and comprehensive loss. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall level of resources available and how to deploy these resources across functions and programs that are in line with the Company's long-term company-wide strategic goals.


	Three Months Ended March 31,
	2025			2024
	(in thousands)
Revenue:
Collaboration agreements	$	—		$	52,404
Operating expenses:
Discovery costs
Direct external costs		698			1,726
Laboratory supplies and research materials		254			998
Personnel related costs		1,507			3,186
Facilities related costs		358			405
Other costs		578			912
Development costs
Direct external costs
Camonsertib program		2,266			3,980
Lunresertib program		4,275			8,107
RP-1664 program		1,342			1,596
RP-3467 and Polθ program		1,097			1,555
Personnel related costs		8,163			9,659
Facilities related costs		247			208
Other costs		889			1,432
Debiopharm development cost reimbursement		(1,269	)		(500	)
R&D tax credits		(135	)		(294	)
Total research and development costs	$	20,270		$	32,970
Personnel related costs		4,577			5,719
Other general administrative costs (1)		3,075			2,899
Total general and administrative costs	$	7,652		$	8,618
Restructuring costs		3,265			—
(Loss) income from operations	$	(31,187	)	$	10,816
Other income, net (2)		1,514			2,975
Income tax expense		(370	)		(629	)
Net (loss) income	$	(30,043	)	$	13,162

(1) Includes professional fees, directors and officers insurance costs, public company operating costs, information technology related costs, and other administrative costs.

(2) Includes interest income and other expenses.

The following presents segment revenue and long lived assets by geographic location, along with major collaborator information.

Revenue by location is as follows:


	Three Months Ended March 31,
	2025		2024
	(in thousands)
Switzerland	$	—	$	49,815
United States		—		2,589
Total revenue	$	—	$	52,404

The Company’s property and equipment, net by country of domicile (Canada) and its subsidiary in the United States are as follows:


	As of March 31,		As of December 31,
	2025		2024
	(in thousands)
Canada	$	1,011	$	2,143
United States		97		151
Total property and equipment, net	$	1,108	$	2,294

The Company’s right-of-use assets by country of domicile (Canada) and its subsidiary in the United States are as follows:


	As of March 31,		As of December 31,
	2025		2024
	(in thousands)
Canada	$	560	$	891
United States		805		1,033
Total right-of-use assets, net	$	1,365	$	1,924

Major Customers

The Company had one customer (a major collaborator) that represents more than 10% of total revenue. The amount of revenue derived from this customer for the three months ended March 31, 2025 and 2024, was nil and $49.8 million, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Share-Based Compensation - Summary of Total Outstanding Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units, Beginning balance \| shares	764,159
Restricted stock units, Awarded \| shares	177,900
Restricted stock units, Vested and released \| shares	(307,456)
Restricted stock units, Forfeited \| shares	(64,915)
Restricted stock units, Ending balance \| shares	569,688
Weighted average grant date fair value, Beginning balance \| $ / shares	$ 9.22
Weighted average grant date fair value, Awarded \| $ / shares	1.17
Weighted average grant date fair value, Vested and released \| $ / shares	9.76
Weighted Average Grant Date Fair Value Forfeited \| $ / shares	7.8
Weighted average grant date fair value, Ending balance \| $ / shares	$ 6.58