Repare Therapeutics to cut 75% of workforce in major restructuring
Repare Therapeutics (Nasdaq: RPTX) is set to cut approximately 75% of its workforce as part of a restructuring plan aimed at extending its cash reserves into mid-2027. The oncology biotech, based in Montreal, Canada, and Cambridge, USA, expects the move to reduce its annual operating expenses by around $21 million.
The decision follows a previous round of layoffs in August 2024, when the company cut 25% of its staff as part of a strategic refocus. The latest restructuring comes after Roche (ROG: SIX) ended its collaboration with Repare earlier in 2024, returning global rights to the ATR inhibitor camonsertib.
Under its revised strategy, Repare will focus on two early-stage clinical programs: RP-1664, a PLK4 inhibitor, and RP-3467, a Polθ ATPase inhibitor.
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