Replimune Reports Fiscal Second Quarter 2026 Financial Results and Provides Corporate Update
The Company announced on
“After a collaborative dialogue and productive engagement with the FDA we are encouraged by the acceptance of our BLA resubmission for
Program Highlights & Milestones
- The global Phase 3 trial, IGNYTE-3 assessing
RP1 in combination with nivolumab is ongoing. The trial is expected to enroll approximately 400 patients globally and is evaluatingRP1 in combination with nivolumab versus a control arm of physician’s choice in patients with advanced melanoma who have progressed on anti-PD-1 and anti-CTLA-4 therapies or are ineligible for anti-CTLA-4 treatment. The primary endpoint of this trial is overall survival, and key secondary endpoints are progression free survival and overall response rate. - Acral melanoma data for
RP1 plus nivolumab was recently presented at theESMO Congress 2025. The analysis of acral melanoma data from the IGNYTE anti-PD-1 failed melanoma cohort showed treatment withRP1 combined with nivolumab resulted in an objective response rate (ORR) of 44% (8/18) with a median duration of response of 11.9 months. The safety profile was favorable with generally transient grade 1 and 2 treatment related adverse events. - Additionally, a poster from ESMO featuring data from the IGNYTE clinical trial showed that
RP1 plus nivolumab provided responses across multiple advanced non-melanoma skin cancer (NMSC) tumor types, including anti–PD-1 naïve and failed disease, as well as both in locally advanced and metastatic disease. The ORR was 100.0%, 33.3%, 66.7%, and 56.3% in patients with anti–PD-1 naïve MCC, BCC, angiosarcoma, and CSCC, respectively. The ORR was 26.3%, 30.0%, 37.5%, and 15.2% in patients with anti–PD-1 failed MCC, BCC, angiosarcoma, and CSCC, respectively. The IGNYTE clinical trial cohort in NMSC is ongoing. - Data from the ongoing ARTACUS Phase 2 trial evaluating the potential of
RP1 as monotherapy in cutaneous squamous cell carcinoma patients following organ transplant were recently presented during an oral session at theSociety for Melanoma Research 22nd InternationalCongress . A publication for ARTACUS is planned for 2026.
- The registration-directed Phase 2/3 REVEAL trial of
RP2 in metastatic uveal melanoma is currently enrolling. The clinical trial is expected to enroll approximately 280 patients with metastatic uveal melanoma who are immune checkpoint inhibitor-naïve and evaluateRP2 in combination with nivolumab versus ipilimumab in combination with nivolumab. The primary endpoints of the trial are overall survival and progression free survival, and key secondary endpoints are overall response rate and disease control rate. - The Phase 2 clinical trial of
RP2 combined with atezolizumab and bevacizumab in anti-PD-1/PD-L1 progressed hepatocellular carcinoma is currently enrolling. The protocol is being amended to includeRP2 as monotherapy with data planned by the end of 2026. The trial is being conducted under a collaboration and supply agreement with Roche. The Company also expects to enroll its first patient in the fourth quarter of 2025 in a cohort evaluatingRP2 in patients with biliary tract cancer. This cohort will evaluateRP2 combined with durvalumab.
Upcoming Events
Society for Immunotherapy of Cancer (SITC) 2025 40th Annual Meeting being heldNovember 5 th to 9th, 2025:- Late-Breaking Oral Presentation: Biomarker and updated clinical data for
RP1 plus nivolumab in anti-PD-1 failed melanoma from the IGNYTE trial demonstrate reversal of mechanisms of resistance to immune checkpoint blockade (Abstract 1327,November 7 th,4:45 pm ET ) - Poster:
RP1 plus nivolumab in patients with and without prior BRAF-directed therapy: A subgroup analysis of patients with anti–PD-1 failed BRAF-mutant melanoma from the IGNYTE clinical trial (Poster 611,November 7 ,5:35-7:00 pm ET ) - Poster: Retreatment with
RP1 in combination with nivolumab in patients with advanced anti–PD-1 failed melanoma (Poster 600,November 8 ,5:10-6:35 pm ET )
- Late-Breaking Oral Presentation: Biomarker and updated clinical data for
Financial Highlights
- Cash Position: As of
September 30, 2025 , cash, cash equivalents and short-term investments were$323.6 million , as compared to$483.8 million as of fiscal year endedMarch 31, 2025 . The decrease in cash balance was a result of cash burn related to operating activities in advancing the company’s clinical development plans.
Based on the current operating plan, the Company believes that existing cash, cash equivalents and short-term investments, as ofSeptember 30, 2025 will enable the Company to fund operations late into the fourth quarter of 2026 which includes the potential commercialization ofRP1 in skin cancers and for working capital and general corporate purposes and excludes any potential revenue.
- R&D Expenses: Research and development expenses were
$57.9 million for the fiscal second quarter and$43.4 million for the fiscal second quarter endedSeptember 30, 2024 . This increase was primarily due to an increase inRP1 direct research costs related to the IGNYTE-3 confirmatory study and other study costs including lab and operating supplies, as well as increasedRP2 study costs. In addition, personnel-related costs increased as we continued to prepare for a potential commercial launch ofRP1 . Research and development expenses included$4.4 million in stock-based compensation expenses for the fiscal second quarter endedSeptember 30, 2025 . - S,G&A Expenses: Selling, general and administrative expenses were
$26.4 million for the fiscal second quarter endedSeptember 30, 2025 , as compared to$15.5 million for the fiscal second quarter endedSeptember 30, 2024 . Selling, general and administrative expenses included$4.0 million in stock-based compensation expenses for the fiscal second quarter endedSeptember 30, 2025 . - Net Loss: Net loss was
$83.1 million for the fiscal second quarter endedSeptember 30, 2025 and$53.1 million for the fiscal second quarter endedSeptember 30, 2024 .
About
About
About
Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our expectations about our cash runway, the status of the FDA review or interactions following the complete response letter, the design and advancement of our clinical trials, the timing and sufficiency of our clinical trial outcomes to support potential approval of any of our product candidates, the regulatory review process and timing of potential product approval, our goals to develop and commercialize our product candidates, patient enrollments in our existing and planned clinical trials and the timing thereof, and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in such forward-looking statements. These factors include risks related to our limited operating history, our ability to generate positive clinical trial results for our product candidates, the costs and timing of operating our in-house manufacturing facility, the timing and scope of regulatory approvals, the availability of combination therapies needed to conduct our clinical trials, changes in laws and regulations to which we are subject, competitive pressures, our ability to identify additional product candidates, political and global macro factors including the impact of a global pandemic and related public health issues and the ongoing political and military conflicts, including trade conflicts, and other risks as may be detailed from time to time in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other reports we file with the Securities and Exchange Commission. Our actual results could differ materially from the results described in or implied by such forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements.
Investor Inquiries
339.970.2843
chris.brinzey@icrhealthcare.com
Media Inquiries
917.548.1582
media@replimune.com
Condensed Consolidated Statements of Operations (Amounts in thousands, except share and per share amounts) (Unaudited) |
|||||||||||||||
| Three Months Ended |
Six Months Ended |
||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | $ | 57,877 | $ | 43,448 | $ | 115,721 | $ | 86,420 | |||||||
| General and administrative | 26,414 | 15,468 | 58,994 | 29,863 | |||||||||||
| Total operating expenses | 84,291 | 58,916 | 174,715 | 116,283 | |||||||||||
| Loss from operations | (84,291 | ) | (58,916 | ) | (174,715 | ) | (116,283 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Research and development incentives | 377 | 408 | 797 | 846 | |||||||||||
| Investment income | 3,696 | 5,394 | 8,411 | 10,106 | |||||||||||
| Interest expense on finance lease liability | (518 | ) | (531 | ) | (1,039 | ) | (1,065 | ) | |||||||
| Interest expense on debt obligations | (1,488 | ) | (1,438 | ) | (2,963 | ) | (2,864 | ) | |||||||
| Other (expense) income, net | (876 | ) | 2,028 | (284 | ) | 2,433 | |||||||||
| Total other income (expense), net | 1,191 | 5,861 | 4,922 | 9,456 | |||||||||||
| Net loss | $ | (83,100 | ) | $ | (53,055 | ) | $ | (169,793 | ) | $ | (106,827 | ) | |||
| Net loss per common share, basic and diluted | $ | (0.90 | ) | $ | (0.68 | ) | $ | (1.85 | ) | $ | (1.45 | ) | |||
| Weighted average common shares outstanding, basic and diluted | 91,915,769 | 78,570,135 | 91,717,076 | 73,903,650 | |||||||||||
Condensed Consolidated Balance Sheets (Amounts In thousands, except share and per share amounts) (Unaudited) |
|||||
2025 |
2025 |
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| (in thousands) | |||||
| Consolidated Balance Sheet Data: | |||||
| Cash, cash equivalents and short-term investments | $ | 323,644 | $ | 483,804 | |
| Working capital | 280,849 | 433,518 | |||
| Total assets | 389,450 | 551,328 | |||
| Total stockholders' equity | 263,336 | 415,843 | |||

Replimune, Inc.