NEW YORK – Repare Therapeutics said last week that it is laying off 75 percent of its workforce and reprioritizing its pipeline around its investigational pol theta inhibitor RP-3467 and its PLK4 inhibitor RP-1664.
The Montreal-based company's remaining employees will focus on developing these two agents, which are in Phase I/II trials.
Repare expects the layoffs to incur a $7.3 million one-time charge related to employee severance along with a $1.4 million charge related to employee retention costs, which will be recognized in the fourth quarter of 2025, according to a filing with the US Securities and Exchange Commission. The firm expects to save approximately $21 million and extend its cash runway into late 2027.
The firm requires these resources to continue studying RP-1664 in a Phase I trial in patients with advanced solid tumors with TRIM37 copy number gains, amplifications, or other genetic alterations. It is also evaluating the pol theta ATPase helicase inhibitor RP-3467, which can cause synthetic lethality in tumors with BRCA1/2 mutations, alone and in combination with AstraZeneca's PARP inhibitor Lynparza (olaparib) in advanced epithelial ovarian, breast, castration-resistant prostate, and pancreatic cancer. Repare expects to report topline safety and initial efficacy data from both of these trials in the second half of 2025.
Last month, Repare said it was pausing trials of its PKMYT1 inhibitor lunresertib and ATR inhibitor camonsertib until it could secure partnerships for those programs. In August 2024, Repare laid off about 25 percent of its workforce, largely from its preclinical group.
As of Dec. 31, 2024, Repare had $152.8 million in cash, cash equivalents, and marketable securities.