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Investing.com -- Repare Therapeutics Inc (NASDAQ:RPTX) stock surged 15% after the clinical-stage precision oncology company announced an exclusive worldwide licensing agreement with Debiopharm for its PKMYT1 inhibitor, lunresertib.
Under the terms of the deal, Repare will receive a $10 million upfront payment and is eligible for up to $257 million in potential milestones, including up to $5 million in near-term payments. The company will also receive single-digit royalties on global net sales.
The agreement builds upon an existing collaboration between the two companies established in January 2024, which explores the combination of lunresertib with Debiopharm’s WEE1 inhibitor, Debio 0123. As part of the new deal, the Swiss-based biopharmaceutical company will assume sponsorship of the MYTHIC study and take over existing and future development activities for lunresertib.
"The exclusive worldwide licensing agreement with Debiopharm allows for the continued development of lunresertib, a novel PKMYT1 inhibitor, that has demonstrated encouraging results across multiple clinical trials in difficult-to-treat solid tumors," said Steve Forte, President, Chief Executive Officer and Chief Financial Officer of Repare.
Following this transaction, Repare will focus on advancing its two ongoing Phase 1 clinical trials: the LIONS trial evaluating RP-1664, a PLK4 inhibitor, and the POLAR trial studying RP-3467, a Polθ ATPase inhibitor. The company expects readouts from both trials in the second half of 2025.
Bertrand Ducrey, CEO of Debiopharm, expressed optimism about the deal, noting that the combination of lunresertib and Debio 0123 "is highly synergistic and could potentially drive rapid and deep tumor regressions."
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