Replimune Posts $57.1M Quarterly Loss as TUDRIQEV Launch Reaches 15+ Institutions
REPL has more than doubled off its 52-week low of $1.5.
Summary
Replimune's first quarterly report since TUDRIQEV won accelerated approval shows the launch moving: more than 15 institutions have prescribed the drug, the company has engaged over 70 percent of its initial 200 priority accounts, and first patient deliveries began October 6th. Cash and equivalents stood at $307.8 million on September 30, up from $268.9 million at fiscal year-end, after roughly $141.0 million in August offering proceeds and a $15.0 million debt draw, with runway guided beyond twelve months. The net loss narrowed to $57.1 million from $83.1 million a year earlier as R&D fell to $34.4 million and SG&A to $21.9 million. Payer coverage is in place to label and TUDRIQEV carries an NCCN category 2A listing, which supports uptake; the confirmatory IGNYTE-3 trial remains on track and is the gating item for keeping the accelerated approval. Watch IGNYTE-3 enrollment and the first full quarter of product revenue, which this release does not break out.
At the time of this announcement, REPL was trading at $12.99 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $1.50 to $16.33. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.