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Investing.com -- Repare Therapeutics Inc (NASDAQ:RPTX) stock surged 26% in after-hours trading Friday following the announcement of a definitive agreement to be acquired by XenoTherapeutics, a non-profit biotechnology company.
Under the terms of the deal, Repare shareholders will receive an estimated $1.82 per share in cash at closing, plus one non-transferable contingent value right (CVR) per common share. The CVRs entitle holders to receive future cash payments from the company’s existing partnerships with Bristol-Myers Squibb, Debiopharm, and DCx Biotherapeutics, as well as potential proceeds from licensing or disposition of Repare’s product candidates.
The transaction, which follows what the company described as a "thorough and wide-ranging strategic review," is expected to close in the first quarter of 2026, subject to shareholder and regulatory approvals. Following completion, Repare will become a privately held company and its shares will be delisted from the Nasdaq Global Select Market.
"The Transaction provides a cash payment to shareholders and the opportunity for continued participation in milestones and royalties from existing and potential future partnerships," said Steve Forte, President, Chief Executive Officer and Chief Financial Officer of Repare.
The Cambridge, Massachusetts-based precision oncology company also reported its third quarter 2025 financial results, posting revenue from collaboration agreements of $11.6 million compared to nil in the same period last year. Net income for the quarter was $3.3 million, or $0.08 per diluted share, a significant improvement from a net loss of $34.4 million, or $0.81 per share, in the third quarter of 2024.
Repare ended the quarter with $112.6 million in cash, cash equivalents, and marketable securities, up from $109.5 million at the end of the previous quarter.
The company recently presented positive initial data from its Phase 1 LIONS clinical trial for RP-1664, its first-in-class oral selective PLK4 inhibitor, at the 37th AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics.
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