Published on 13 Feb 2024 on Zacks via Yahoo Finance
Repare Therapeutics Inc. (RPTX) Soars 8.8%: Is Further Upside Left in the Stock?
Repare Therapeutics Inc. (RPTX) shares ended the last trading session 8.8% higher at $8.41. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.2% gain over the past four weeks.
The sudden soaring of the stock price is attributable to the positive investors' mindset regarding the company's pipeline progress. Repare is currently developing its oral ATR inhibitor, camonsertib, in mid-to-late-stage studies, in partnership with Roche. The company is also evaluating another candidate, lunresertib, to treat solid tumors in several early-stage studies, as a monotherapy or in combination. However, in the after-market hours on Feb 12, Repare announced that it is set to regain global development and commercialization rights to camonsertib in May 2024, following the termination of its collaboration agreement with Roche.
This company is expected to post quarterly loss of $0.41 per share in its upcoming report, which represents a year-over-year change of +45.3%. Revenues are expected to be $23.32 million, up 28.1% from the year-ago quarter.