Repare Therapeutics (RPTX) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Trading Symbol	RPTX
Entity Registrant Name	Repare Therapeutics Inc.
Entity Central Index Key	0001808158
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,094,446
Title of 12(b) Security	Common shares, no par value
Security Exchange Name	NASDAQ
Entity File Number	001-39335
Entity Incorporation, State or Country Code	A8
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	7171 Frederick-Banting
Entity Address, Address Line Two	Building 2
Entity Address, Address Line Three	Suite 270
Entity Address, City or Town	St-Laurent
Entity Address, State or Province	QC
Entity Address, Country	CA
Entity Address, Postal Zip Code	H4S 1Z9
City Area Code	857
Local Phone Number	412-7018
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 115,544	$ 159,521
Marketable securities	165,148	184,420
Income tax receivable	1,751	0
Other current receivables	5,281	4,323
Prepaid expenses	4,201	5,715
Total current assets	291,925	353,979
Property and equipment, net	4,821	4,228
Operating lease right-of-use assets	4,434	5,371
Other assets	408	497
TOTAL ASSETS	301,588	364,075
CURRENT LIABILITIES:
Accounts payable	4,893	461
Accrued expenses and other current liabilities	21,628	21,645
Operating lease liability, current portion	2,320	2,171
Deferred revenue, current portion	24,412	53,102
Income tax payable	0	1,240
Total current liabilities	53,253	78,619
Operating lease liability, net of current portion	2,226	3,257
Deferred revenue, net of current portion	695	2,682
TOTAL LIABILITIES	56,174	84,558
SHAREHOLDERS’ EQUITY
Preferred shares, no par value per share; unlimited shares authorized as of June 30, 2023 and December 31, 2022, respectively; 0 shares issued and outstanding as of June 30, 2023, and December 31, 2022, respectively	0	0
Common shares, no par value per share; unlimited shares authorized as of June 30, 2023 and December 31, 2022; 42,093,946 and 42,036,193 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	482,739	482,032
Additional paid-in capital	49,299	37,226
Accumulated other comprehensive loss	(424)	(428)
Accumulated deficit	(286,200)	(239,313)
Total shareholders’ equity	245,414	279,517
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 301,588	$ 364,075

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0	$ 0
Preferred stock shares authorized	Unlimited	Unlimited
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0	$ 0
Common stock shares authorized	Unlimited	Unlimited
Common stock shares issued	42,093,946	42,036,193
Common stock shares outstanding	42,093,946	42,036,193

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Collaboration agreements	$ 30,249	$ 679	$ 35,927	$ 1,087
Operating expenses:
Research and development, net of tax credits	33,788	31,475	65,618	57,933
General and administrative	8,719	7,938	17,248	16,717
Total operating expenses	42,507	39,413	82,866	74,650
Loss from operations	(12,258)	(38,734)	(46,939)	(73,563)
Other income (expense), net
Realized and unrealized (loss) gain on foreign exchange	(41)	141	(97)	124
Interest income	3,489	544	6,916	673
Other expense	(26)	(11)	(41)	(19)
Total other income, net	3,422	674	6,778	778
Loss before income taxes	(8,836)	(38,060)	(40,161)	(72,785)
Income tax expense	(3,110)	(33)	(6,726)	(65)
Net loss	(11,946)	(38,093)	(46,887)	(72,850)
Unrealized (loss) gain on available-for-sale marketable securities	(189)	0	4	0
Total other comprehensive (loss) gain	(189)	0	4	0
Comprehensive loss	$ (12,135)	$ (38,093)	$ (46,883)	$ (72,850)
Net loss per share attributable to common shareholders--basic	$ (0.28)	$ (0.91)	$ (1.11)	$ (1.74)
Net loss per share attributable to common shareholders--diluted	$ (0.28)	$ (0.91)	$ (1.11)	$ (1.74)
Weighted-average common shares outstanding-basic	42,089,530	41,899,509	42,065,237	41,880,666
Weighted-average common shares outstanding-diluted	42,089,530	41,899,509	42,065,237	41,880,666

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	2020 Employee Share Purchase Plan	Common Shares	Common Shares 2020 Employee Share Purchase Plan	Additional Paid-in Capital	Additional Paid-in Capital 2020 Employee Share Purchase Plan	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance at Dec. 31, 2021	$ 288,421		$ 480,699		$ 17,988			$ (210,266)
Balance, Shares at Dec. 31, 2021			41,850,162
Exercise of stock options	28		$ 46		(18)
Exercise of stock options, Shares			12,235
Share-based compensation expense	4,755				4,755
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 213		$ 303		$ (90)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				16,807
Net loss and comprehensive loss	(34,757)							(34,757)
Balance at Mar. 31, 2022	258,660		$ 481,048		22,635			(245,023)
Balance, Shares at Mar. 31, 2022			41,879,204
Exercise of stock options	205		$ 332		(127)
Exercise of stock options, Shares			44,268
Share-based compensation expense	4,745				4,745
Net loss and comprehensive loss	(38,093)							(38,093)
Balance at Jun. 30, 2022	225,517		$ 481,380		27,253			(283,116)
Balance, Shares at Jun. 30, 2022			41,923,472
Balance at Dec. 31, 2022	279,517		$ 482,032		37,226		$ (428)	(239,313)
Balance, Shares at Dec. 31, 2022			42,036,193
Exercise of stock options	4		$ 7		(3)
Exercise of stock options, Shares			2,000
Share-based compensation expense	6,062				6,062
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 409		$ 638		$ (229)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				41,703
Other comprehensive gain (loss)	193						193
Net loss	(34,941)							(34,941)
Balance at Mar. 31, 2023	251,244		$ 482,677		43,056		(235)	(274,254)
Balance, Shares at Mar. 31, 2023			42,079,896
Balance at Dec. 31, 2022	$ 279,517		$ 482,032		37,226		(428)	(239,313)
Balance, Shares at Dec. 31, 2022			42,036,193
Exercise of stock options, Shares	16,050
Balance at Jun. 30, 2023	$ 245,414		$ 482,739		49,299		(424)	(286,200)
Balance, Shares at Jun. 30, 2023			42,093,946
Balance at Mar. 31, 2023	251,244		$ 482,677		43,056		(235)	(274,254)
Balance, Shares at Mar. 31, 2023			42,079,896
Exercise of stock options	40		$ 62		(22)
Exercise of stock options, Shares			14,050
Share-based compensation expense	6,265				6,265
Other comprehensive gain (loss)	(189)						(189)
Net loss	(11,946)							(11,946)
Balance at Jun. 30, 2023	$ 245,414		$ 482,739		$ 49,299		$ (424)	$ (286,200)
Balance, Shares at Jun. 30, 2023			42,093,946

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows From Operating Activities:
Net loss for the period	$ (46,887)	$ (72,850)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	12,327	9,500
Depreciation expense	947	1,039
Non-cash lease expense	1,086	1,091
Foreign exchange loss (gain)	60	(136)
Net (accretion)/amortization of marketable securities	(3,928)	34
Deferred tax	0	(2,609)
Changes in operating assets and liabilities:
Prepaid expenses	1,518	3,072
Other current receivables	(988)	(389)
Other non-current assets	89	89
Accounts payable	4,429	2,698
Accrued expenses and other current liabilities	(17)	3,334
Operating lease liability, current portion	72	460
Income taxes	(2,991)	(1,322)
Operating lease liability, net of current portion	(1,172)	(1,123)
Deferred revenue	(30,677)	(1,087)
Net cash used in operating activities	(66,132)	(58,199)
Cash Flows From Investing Activities:
Purchases of property and equipment	(1,540)	(2,056)
Proceeds from maturities of marketable securities	169,000	5,150
Purchase of marketable securities	(145,796)	(4,000)
Net cash provided by (used in) investing activities	21,664	(906)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	44	233
Proceeds from issuance of common stock under the 2020 Employee Share Purchase Plan	409	213
Net cash provided by financing activities	453	446
Effect of exchange rate fluctuations on cash held	38	66
Net Decrease In Cash And Cash Equivalents	(43,977)	(58,593)
Cash and cash equivalents at beginning of period	159,521	334,427
Cash and cash equivalents at end of period	115,544	275,834
Supplemental Disclosure Of Cash Flow Information:
Property and equipment purchases incurred but not yet paid	0	222
Right-of-use asset obtained in exchange for new operating lease liability	$ 149	$ 56

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	1. Organization and Nature of Business Repare Therapeutics Inc. (“Repare” or the “Company”) is a precision medicine oncology company focused on the development of synthetic lethality-based therapies for patients with cancer. The Company was incorporated under the Canada Business Corporations Act on September 6, 2016 . On June 23, 2020, immediately prior to the completion of its initial public offering (the “IPO”), the Company was continued as a corporation under the Business Corporations Act (Québec) . The Company’s common shares are listed on the Nasdaq Global Select Market under the ticker symbol “RPTX”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2022, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of June 30, 2023, the consolidated results of its operations for the three and six months ended June 30, 2023 and 2022, its statements of shareholders’ equity for the three and six months ended June 30, 2023 and 2022 and its consolidated cash flows for the six months ended June 30, 2023 and 2022. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2023 (the “Annual Report”). The condensed consolidated balance sheet data as of December 31, 2022 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the operating results to be expected for the full year or for any other subsequent interim period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report. There have been no changes to the Company's significant accounting policies since the date of the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report. Principles of Consolidation These unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation, right-of-use assets and lease liabilities and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known.

Cash and Cash Equivalents and M

Cash and Cash Equivalents and Marketable Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Cash and Cash Equivalents and Marketable Securities	3. Cash and Cash Equivalents and Marketable Securities As of June 30, 2023 and December 31, 2022, cash and cash equivalents and marketable securities were comprised of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) As of June 30, 2023 Cash and cash equivalents: Cash $ 48,254 $ — $ — $ 48,254 Money market funds 67,290 — — 67,290 Total cash and cash equivalents: $ 115,544 $ — $ — $ 115,544 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 74,552 $ 2 $ ( 159 ) $ 74,395 Commercial paper 91,020 4 ( 271 ) 90,753 Total marketable securities $ 165,572 $ 6 $ ( 430 ) $ 165,148 As of December 31, 2022 Cash and cash equivalents: Cash $ 116,526 $ — $ — $ 116,526 Money market funds 42,995 — — 42,995 Total cash and cash equivalents: $ 159,521 $ — $ — $ 159,521 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 184,848 $ 5 $ ( 433 ) $ 184,420 Total marketable securities $ 184,848 $ 5 $ ( 433 ) $ 184,420 Interest receivable was $ 0.3 million and $ 0.4 million as of June 30, 2023 and December 31, 2022, respectively, and is included in other current receivables. The Company held available-for-sale marketable securities with an aggregate fair value of $ 135.3 million and $ 157.9 million that were in an unrealized loss position as of June 30, 2023 and December 31, 2022, respectively. These marketable securities have been in an unrealized loss position for less than twelve months. The unrealized losses as of June 30, 2023 and December 31, 2022 , were not attributed to credit risk but were primarily associated with changes in interest rates and market liquidity. The Company does not intend to sell these securities and it is more likely than not that it will hold these investments for a period of time sufficient to recover the amortized cost. As a result, the Company did no t record an allowance for credit losses or other impairment charges for its marketable securities for the three and six months ended June 30, 2023 and 2022. The Company recognized $ 0.2 million of net unrealized loss and nil for the three months ended June 30, 2023 and 2022 , respectively, and nil for the six months ended June 30, 2023 and 2022 in other comprehensive loss. The maturities of the Company’s marketable securities as of June 30, 2023 and December 31, 2022 are less than one year.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2023 and December 31, 2022: Description Financial Assets Level 1 Level 2 Level 3 (in thousands) As of June 30, 2023 Assets Money market funds included in cash and cash equivalents $ 67,290 $ 67,290 $ — $ — Marketable securities U.S. Treasury and government-sponsored enterprises 74,395 — 74,395 — Commercial paper 90,753 — 90,753 — Total marketable securities 165,148 — 165,148 — Total financial assets $ 232,438 $ 67,290 $ 165,148 $ — As of December 31, 2022 Assets Money market funds included in cash and cash equivalents $ 42,995 $ 42,995 $ — $ — Marketable securities U.S. Treasury and government-sponsored enterprises 184,420 — 184,420 — Total financial assets $ 227,415 $ 42,995 $ 184,420 $ — When developing fair value estimates, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs. When available, the Company uses quoted market prices to measure the fair value. In determining the fair values at each date presented above, the Company relied on quoted prices for similar securities in active markets or using other inputs that are observable or can be corroborated by observable market data. During the six months ended June 30, 2023 , there were no transfers between fair value measure levels.

Other Current Receivables

Other Current Receivables	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Other Current Receivables	5. Other Current Receivables Other current receivables as of June 30, 2023 and December 31, 2022 consisted of the following: June 30, December 31, (in thousands) Research and development tax credits receivable $ 2,023 $ 1,280 Collaboration revenue receivable 1,250 1,525 Other 2,008 1,518 Total other current receivables $ 5,281 $ 4,323

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	6. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities as of June 30, 2023 and December 31, 2022 consisted of the following: June 30, December 31, (in thousands) Accrued compensation and benefits $ 3,845 $ 5,616 Accrued research and development expense 16,592 15,078 Accrued professional services 941 680 Other 250 271 Total accrued expenses and other current liabilities $ 21,628 $ 21,645

Collaboration and License Agree

Collaboration and License Agreement	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration and License Agreement	7. Collaboration and License Agreements The following table presents revenue from collaboration agreements: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Roche Collaboration and License Agreement $ 4,825 $ — $ 10,137 $ — Bristol Myers Squibb Collaboration and License Agreement 14,951 679 15,317 1,087 Ono Collaboration Agreement 10,473 — 10,473 — Total revenue $ 30,249 $ 679 $ 35,927 $ 1,087 (a) Roche Collaboration and License Agreement In June 2022, the Company entered into a collaboration and license agreement (the “Roche Agreement”) with Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively, “Roche”) regarding the development and commercialization of the Company’s product candidate camonsertib (also known as RP-3500) and specified other Ataxia-Telangiectasia and Rad3-related protein kinase (“ATR”) inhibitors (the “Licensed Products”). The transaction was subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions, which were met on July 13, 2022 (the “Effective Date”). Pursuant to the Roche Agreement, the Company granted Roche a worldwide, perpetual, exclusive, sublicensable license to develop, manufacture, and commercialize the Licensed Products, as well as a non-exclusive, sublicensable license to certain related companion diagnostics. The Company has agreed to complete specified ongoing clinical trials in accordance with the development plan in the Roche Agreement, as well as ongoing investigator sponsored trials (together, the “Continuing Trials”) at the Company’s expense. Roche assumes all subsequent development of camonsertib with the potential to expand development into additional tumors and multiple combination studies. The Company retained the right to conduct specified clinical trials (the “Repare Trials”) of camonsertib in combination with the Company’s PKMYT1 compound (also known as lunresertib). The Roche Agreement also provides the Company, at its sole discretion, with the ability to opt-in to a 50/50 U.S. co-development and profit share arrangement, including participation in U.S. co-promotion if U.S. regulatory approval is received. If the Company chooses to exercise its co-development and profit share option, it will continue to be eligible to receive certain clinical, regulatory, commercial and sales milestone payments, in addition to full ex-U.S. royalties. The Roche Agreement was subsequently amended in October 2022 to extend the timeline to negotiate in good faith the parties’ rights and obligations with respect to the Repare Trials, as defined in the Roche Agreement, and to clarify indications included in the development plan that are subject to milestones. Under the terms of the Roche Agreement, the Company received an upfront, nonrefundable payment of $ 125.0 million in July 2022. The Company also received an additional payment of $ 4.0 million negotiated with Roche for revisions to the clinical development plan under the Roche Agreement as agreed to by the parties at the time of the Effective Date. The Company further received $ 5.6 million for the transfer of clinical trial material on hand to Roche, as agreed to pursuant to the Roche Agreement. In addition, in February 2023, the Company became entitled to receive an additional payment of $ 4.0 million, negotiated with Roche for additional revisions to the clinical development plan under the Roche Agreement, which was received in April 2023. The Company is eligible to receive up to $ 1.172 billion in potential clinical, regulatory, commercial and sales milestones, as well as royalties on global net sales ranging from high-single-digits to high-teens, subject to certain specified reductions. Royalties are payable by Roche on a product by product and country by country basis until the later of 12 years following the first commercial sale of a licensed product in such country or the expiration of certain exclusivity rights. The Roche Agreement will expire upon the last to expire royalty term or, as applicable, the end of the U.S. co-development and profit share arrangement. Additionally, Roche may terminate the agreement for convenience in its entirety or on a product by product or country by country basis subject to certain notice periods. Either party may terminate earlier upon the other party’s uncured material breach of the agreement or insolvency. Subject to the terms of the Roche Agreement, effective upon termination of the Roche Agreement, the Company is entitled to retain specified licenses to be able to continue to exploit the Licensed Products. The Company assessed the Roche Agreement in accordance with ASC 606, Revenue from Contracts with Customers, and concluded that Roche is a customer within the context of the agreement. At inception, the Company identified several performance obligations under the agreement, being (i) the combination of the exclusive perpetual license to the Licensed Products and the non-exclusive license to certain companion diagnostics, (ii) the research and development activities related to the completion of the Continuing Trials, as well as (iii) the transfer of clinical trial materials on hand. The Company determined that the exclusive license to the Licensed Products and the non-exclusive license to certain companion diagnostics should be combined into one distinct performance obligation as they were not capable of being distinct from each other within the context of the agreement given both are highly interdependent of each other. The Company determined that the combined licenses, the completion of the Continuing Trials and the transfer of clinical trial materials were all capable of being distinct and were distinct within the context of the Roche Agreement given such activities are independent of each other and Roche could benefit from either separately. The Company determined that the transaction price at the onset of the agreement was $ 134.6 million, being the total non-refundable upfront payment received of $ 125.0 million, the additional $ 4.0 million payment received and the $ 5.6 million received for the transfer of clinical trial materials. Additional consideration is to be paid to the Company upon the achievement of multiple clinical, regulatory and sales milestones. The Company utilized the most likely method approach and concluded that these amounts were constrained based on the probability of achievement. As such, the Company excluded this additional consideration from the transaction price. The Company allocated the transaction price at the onset of the agreement of $ 134.6 million to each performance obligation based on the relative stand-alone selling price of each performance obligation at inception. The Company determined the estimated stand-alone selling price at contract inception of the combined licenses by applying a probability adjusted discounted cashflow model which forecasts future cash flows related to the licenses. The Company considered applicable market conditions and relevant entity-specific factors, including those factors contemplated in negotiating the agreement, probability of success, discount rate and the time needed to commercialize a product pursuant to the license. The Company determined the estimated stand-alone selling price at contract inception of the research and development activities required to complete the Continuing Trials based on internal estimates of the costs to perform the services, inclusive of a reasonable profit margin. Significant inputs used to determine the total costs to complete the Continuing Trials included the length of time required, the internal hours as well as external costs expected to be incurred, the number of patients and the number of clinical and investigator sponsored trials. The Company determined the stand-alone selling price of the clinical trial materials transferred based on the purchase price from external vendors, without applying a markup as the materials have a built-in margin from the external vendors. In February 2023, the Company received a further payment of $ 4.0 million negotiated with Roche for additional revisions to the clinical development plan. The Company determined that the scope and the price of the contract had increased as a result of these additional changes and thus reflected a contract modification under ASC 606. The additional services were assessed to be not distinct from the ongoing performance obligation related to the completion of the Continuing Trials but distinct from the other performance obligations. No adjustment was therefore made to the two previously completed performance obligations, being the combined licenses and the transfer of clinical trial materials. The transaction price was updated for the additional consideration of $ 4.0 million, which has been allocated to the completion of the Continuing Trials performance obligation. An adjustment to revenue previously recognized based on updated measures of progress related to the completion of the Continuing Trials has been recognized on a cumulative catch-up basis in the first quarter of 2023. Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations is as follows: Performance obligation Transaction price (in thousands) Combined licenses $ 105,327 Completion of Continuing Trials 30,585 Transfer of clinical trial materials 2,714 Total transaction price $ 138,626 Revenue associated with the combined licenses was recognized at a point in time upon the transfer of the licenses to Roche on the Effective Date of the Roche Agreement as the Company concluded that the combined licenses were a functional intellectual property license that Roche could benefit from as of the time of grant. Revenue associated with the transfer of clinical trial materials was recognized at a point in time upon delivery of the clinical trial materials to Roche in the year ended December 31, 2022. Revenue associated with the completion of the Continuing Trials has been deferred and will be recognized on a proportional performance basis over the period of time to complete the Continuing Trials, being estimated at within 24 months of the Effective Date, using input-based measurements of total costs of research and development incurred to estimate the proportion performed. Progress towards completion is remeasured at the end of each reporting period. Deferred revenue pertaining to the Roche Agreement Completion of Continuing Trials (in thousands) Balance as of December 31, 2022 $ 17,957 Increase in collaboration revenue receivable 4,000 Recognition as revenue, as the result of performance obligations satisfied ( 5,312 ) Balance as of March 31, 2023 $ 16,645 Recognition as revenue, as the result of performance obligations satisfied ( 4,825 ) Balance as of June 30, 2023 $ 11,820 Classified as short-term $ 11,125 Classified as long-term 695 The Company recognized $ 4.8 million and $ 10.1 million as revenue for the three and six months ended June 30, 2023, respectively, and nil for the three and six months ended June 30, 2022, in recognition of research and development services performed towards the completion of the Continuing Trials under the Roche Agreement. As of June 30, 2023, there was $ 11.8 million (December 31, 2022 - $ 18.0 million ) of deferred revenue related to the Roche Agreement, of which $ 11.1 million (December 31, 2022 - $ 15.3 million ) was classified as current and $ 0.7 million (December 31, 2022 - $ 2.7 million ) was classified as non-current in the condensed consolidated balance sheet based on the period the services to complete the Continuing Trials are expected to be performed. (b) Bristol-Myers Squibb Collaboration and License Agreement In May 2020, the Company entered into a collaboration and license agreement (the "BMS Agreement") with Bristol-Myers Squibb Company (“Bristol Myers Squibb”), pursuant to which the Company and Bristol Myers Squibb have agreed to collaborate in the research and development of potential new product candidates for the treatment of cancer. The Company is providing Bristol Myers Squibb access to a selected number of its existing screening campaigns and novel campaigns. The Company is responsible for carrying out early-stage research activities directed to identifying potential targets for potential licensing by Bristol Myers Squibb, in accordance with a mutually agreed upon research plan, and will be solely responsible for such costs. The collaboration consists of programs directed to both druggable targets and to targets commonly considered undruggable to traditional small molecule approaches. Upon Bristol Myers Squibb’s election to exercise its option to obtain exclusive worldwide licenses for the subsequent development, manufacturing and commercialization of a program, Bristol Myers Squibb will then be solely responsible for all such worldwide activities and costs. The collaboration term will expire 42 months after the effective date of the BMS Agreement. The BMS Agreement will expire, assuming that Bristol Myers Squibb has exercised at least one option for a program, on a licensed product-by-licensed product and country-by-country basis on expiration of the applicable royalty term and in its entirety upon expiration of the last royalty term. Either party may terminate earlier upon an uncured material breach of the agreement by the other party, or the insolvency of the other party. Additionally, Bristol Myers Squibb may terminate the BMS Agreement for any or no reason on a program-by-program basis upon specified written notice. Under the terms of the BMS Agreement, Bristol Myers Squibb paid the Company an initial nonrefundable upfront fee of $ 50.0 million in June 2020. The Company is also entitled to receive up to $ 301.0 million in total milestones on a program-by-program basis, consisting of $ 176.0 million in the aggregate for certain specified research, development and regulatory milestones and $ 125.0 million in the aggregate for certain specified commercial milestones. The Company is further entitled to a tiered percentage royalty on annual net sales ranging from high-single digits to low-double digits, subject to certain specified reductions. The Company assessed the BMS Agreement in accordance with ASC 606, Revenue from Contracts with Customers, and concluded that Bristol Myers Squibb is a customer based on the agreement structure. At inception, the Company identified several performance obligations under the BMS Agreement, being (i) research activities for each campaign over the collaboration term, as well as (ii) a selected number of material rights associated with options to obtain exclusive development, manufacturing, and commercial licenses to targets identified. The Company determined that the options to obtain the exclusive development, manufacturing and commercialization licenses were material rights under ASC 606 because there are minimal amounts to be paid to the Company upon exercise of such options. The Company determined that the transaction price at the onset of the BMS Agreement is the total non-refundable upfront payment received of $ 50.0 million. Additional consideration is to be paid to the Company upon the exercise of options to license targets and future milestone payments. The Company utilized the most likely method approach and concluded that these amounts were constrained as they represent option fees and milestone payments that can only be achieved subsequent to option exercises. As such, the Company excluded this additional consideration from the transaction price. The Company has allocated the transaction price of $ 50.0 million to each performance obligation based on the relative stand-alone selling price of each performance obligation at inception, which was determined based on each performance obligation’s estimated stand-alone selling price. The Company has determined the estimated stand-alone selling price at contract inception of the research activities based on internal estimates of the costs to perform the services, inclusive of a reasonable profit margin. Significant inputs used to determine the total costs to perform the research activities included the length of time required, the internal hours expected to be incurred on the services and the number and costs of various studies that will be performed to complete the research plan. The Company determined the estimated stand-alone selling price at contract inception of the material rights associated with options to obtain exclusive licenses to druggable targets and undruggable targets based on the fees Bristol Myers Squibb would pay to exercise these options, the probability-weighted value of expected future cash flows associated with each license related to each target and the probability that these options would be exercised by Bristol Myers Squibb. In developing such estimates, the Company also considered applicable market conditions and relevant entity-specific factors, including those factors contemplated in negotiating the agreement, probability of success and the time needed to commercialize a product candidate pursuant to the associated license. Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations was as follows: Performance obligation Transaction price (in thousands) Research activities $ 6,405 Options to license druggable targets 31,148 Options to license undruggable targets 12,447 Total transaction price $ 50,000 Revenue associated with the options has been deferred and will be recognized at the point in time when options to license are exercised by Bristol Myers Squibb or upon expiry of such options. Revenue associated with the research activities has been deferred and will be recognized on a proportional performance basis over the period of service for research activities, being the collaboration term, using input-based measurements of total costs of research incurred to estimated proportion performed. Progress towards completion is remeasured at the end of each reporting period. Deferred revenue pertaining to the BMS Agreement Research activities Options to license druggable targets Options to license undruggable targets Total (in thousands) Balance as of December 31, 2022 $ 2,448 $ 12,459 $ 12,447 $ 27,354 Recognition as revenue, as the result of performance obligations ( 366 ) - - ( 366 ) Balance as of March 31, 2023 $ 2,082 $ 12,459 $ 12,447 $ 26,988 Increase in collaboration revenue receivable - 1,250 - 1,250 Recognition as revenue, as the result of performance obligations ( 1,242 ) ( 13,709 ) - ( 14,951 ) Balance as of June 30, 2023 $ 840 $ - $ 12,447 $ 13,287 Classified as short-term $ 840 $ - $ 12,447 $ 13,287 Classified as long-term - - - - The Company recognized $ 1.2 million and $ 0.7 million as revenue for the three months ended June 30, 2023 and 2022. respectively, and $ 1.6 million and $ 1.1 million for the six months ended June 30, 2023 and 2022, respectively, in recognition of deferred revenue for research activities performed under the BMS Agreement. In May 2023, Bristol Myers Squibb exercised its option for a druggable target and in June 2023, Bristol Myers Squibb waived its rights to exercise an option for a druggable target. As a result, the Company recognized $ 12.7 million as revenue related to druggable targets for the three and six months ended June 30, 2023 ( nil for the three and six months ended June 30, 2022), including the option fee of $ 0.25 million which was received in July 2023. In May 2023, Bristol Myers Squibb also triggered a $ 1.0 million further development election for a previously exercised druggable target. As such, the Company recognized this specified research milestone as revenue during the three and six months ended June 30, 2023 ( nil for the three and six months ended June 30, 2022), which was received in July 2023. As of June 30, 2023, there was $ 13.3 million (December 31, 2022 - $ 27.4 million ) of deferred revenue related to the BMS Agreement, which was classified as current in the condensed consolidated balance sheet based on the period the services are expected to be performed, the expected timing of potential option exercises for undruggable targets, and the expected expiry of the BMS Agreement. (c) Ono Collaboration Agreement In January 2019, the Company entered into a research services, license and collaboration agreement, or the Ono Agreement, with Ono Pharmaceutical Company Ltd., or Ono, pursuant to which the Company and Ono agreed to collaborate in the research of potential product candidates targeting Polθ and the development of the Company’s small molecule Polθ inhibitor program. The Company was primarily responsible for carrying out research activities to identify a product candidate, to be licensed to Ono, in accordance with a mutually agreed upon research plan during a research term that will end upon the earlier of the date of the first submission of an Investigational New Drug application (“IND”) in the United States or Japan, or the end of the research term. In the event that Ono elected to collaborate on the subsequent development and commercialization of the proposed product candidate, Ono would then have been responsible for such activities in Japan, South Korea, Taiwan, Hong-Kong, Macau and the Association of Southeast Asian Nations (collectively, the “Ono territory”), and the Company would have then been responsible for all such activities in the rest of the world outside the Ono territory, including the United States, Canada and European Union. In such instance, Ono would have been responsible for a specified percentage of research and developments costs for the IND-enabling studies of the selected product candidate. In October 2021, the Company and Ono entered into an amendment to the Ono Agreement whereby the research term, as defined in the Ono Agreement, was extended by one year . In January 2023, the Company and Ono entered into a second amendment to the Ono Agreement whereby the Research Term, as defined in the Ono Agreement, was extended until July 31, 2023 . Pursuant to the terms of the Ono Agreement, the Company received initial upfront payments of ¥ 900 million ($ 8.1 million). These upfront payments were recorded as deferred revenue and were to be recognized as revenue at the point in time when a product candidate was licensed to Ono pursuant to the terms of the agreement, reflecting the single performance obligation under the Ono Agreement in accordance with the Company’s assessment of the arrangement under ASC 606. In addition, in connection with the research activities to be conducted pursuant to the Ono Agreement, the Company was eligible to receive additional research service payments of up to an aggregate of ¥ 750 million ($ 6.5 million) upon the occurrence of certain specified research triggers. In October 2021 and December 2022, the Company achieved specified research triggers amounting to ¥ 100 million ($ 0.9 million) and ¥ 200 million ($ 1.5 million), respectively, as research service payments provided for in the Ono Agreement. These amounts were added to the transaction price under the arrangement and were recorded as deferred revenue. The Company was further entitled to receive clinical, regulatory and commercial milestone payments of up to ¥ 17.21 billion ($ 149.5 million) in the aggregate, plus a tiered percentage royalty on annual net sales in Ono’s Territory ranging from high-single digits to low teens, subject to specified reductions. Deferred revenue pertaining to the Ono Agreement Research activities (in thousands) Balance as of December 31, 2022 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied - Balance as of March 31, 2023 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied ( 10,473 ) Balance as of June 30, 2023 $ - In June 2023, the Company and Ono determined not to further extend the Term of the Ono Agreement. As a result, no product candidate will be licensed to Ono pursuant to the terms of Agreement. The Company recognized $ 10.5 million as revenue for the three and six months ended June 30, 2023 ( nil for the three and six months ended June 30, 2022) with regards to the performance obligation under the Ono Agreement. In July 2023, Ono provided the Company with a formal notice to terminate the Ono Agreement without cause as defined in the Ono Agreement. As a result of this termination, all rights to the Polθ program have reverted to the Company.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	8. Leases The Company has historically entered into lease arrangements for its facilities. As of June 30, 2023 , the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options. In January 2023, and as further amended in April 2023, the Company entered into a lease renewal agreement for office and laboratory space located in Montréal, Québec, for a thirty-two month term, ending in August 2025 . Operating Leases The following tables contain a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Operating Leases Lease Costs Operating lease costs $ 593 $ 615 $ 1,186 $ 1,231 Short-term lease costs 32 8 46 16 Variable lease costs 60 33 100 100 Total lease costs $ 685 $ 656 $ 1,332 $ 1,347 Six Months Ended 2023 2022 (in thousands, except as specified otherwise) Other Operating Lease Information Operating cash flows used for operating leases $ 1,202 $ 802 Right-of-use assets obtained in exchange for new operating lease liability $ 149 $ 56 Weighted-average remaining lease term (in years) 1.95 2.91 Weighted-average discount rate 4.1 % 4.0 %

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	9. Share-Based Compensation 2020 Employee Share Purchase Plan In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Employee Share Purchase Plan (the “ESPP”). The maximum number of common shares that may be issued under the ESPP was initially 327,000 . Additionally, the number of shares reserved and available for issuance under the ESPP automatically increases each January 1, beginning on January 1, 2021 and each January 1 thereafter through January 31, 2030, by the lesser of (1) 1.0 % of the total number of common shares outstanding on December 31 of the preceding calendar year, (2) 3,300,000 common shares, or (3) such smaller number of common shares as the Company’s board of directors may designate. As of June 30, 2023, the total number of common shares that may be issued under the ESPP is 1,445,331 . The ESPP enables eligible employees to purchase common shares of the Company at the end of each offering period at a price equal to 85 % of the fair market value of the shares on the first business day or the last business day of the offering period, whichever is lower. Participation in the ESPP is voluntary. Eligible employees become participants in the ESPP by enrolling in the plan and authorizing payroll deductions. At the end of each offering period, accumulated payroll deductions are used to purchase the Company’s shares at the discounted price. The Company makes no contributions to the ESPP. A participant may withdraw from the ESPP or suspend contributions to the ESPP. If the participant elects to withdraw during an offering, all contributions are refunded as soon as administratively practicable. If a participant elects to withdraw or suspend contributions, they will not be able to re-enroll in the current offering but may elect to participate in future offerings. The ESPP purchases only whole shares of the Company’s shares. ESPP offering periods occur on a rolling six-month basis. The Company issued 41,703 common shares under the ESPP during the six months ended June 30, 2023 at a weighted-average price per share of $ 9.80 . Cash received from purchases under the ESPP for the six months ended June 30, 2023 was $ 0.4 million. Option Plan and 2020 Plan In December 2016, as further amended in December 2017 and September 2019, the Company adopted the Repare Therapeutics Inc. Option Plan (the “Option Plan”) for the issuance of share options and other share-based awards to directors, officers, employees or consultants. The Option Plan authorized up to 4,074,135 shares of the Company’s common shares to be issued. In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan became effective on the effective date of the IPO, at which time the Company ceased granting awards under the Option Plan. The 2020 Plan allows the Company’s compensation committee to grant equity-based and cash-based incentive awards to the Company’s officers, employees, directors and consultants including but not limited to stock options and restricted share units. A total of 3,600,000 common shares were initially reserved for issuance under the 2020 Plan, plus the number of shares (not to exceed 3,807,448 shares) consisting of (i) 298,605 common shares that were available for the issuance of awards under the Option Plan at the time the 2020 Plan became effective, which ceased to be available for future issuance under the Option Plan at such time and (ii) any shares subject to outstanding options or other share awards that were granted under the Option Plan that terminate or expire prior to exercise or settlement; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price. In addition, the number of shares reserved and available for issuance under the 2020 Plan will automatically increase each January 1, beginning on January 1, 2021 and each January 1 thereafter through January 1, 2030, by 5 % of the outstanding number of common shares on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s board of director s. As of June 30, 2023, the total number of common shares reserved for issuance under the 2020 Plan is 10,026,479 . Inducement Grant In May 2023, the Compensation Committee of the Board of Directors approved the grant of an inducement award to a newly hired member of the senior leadership team. The equity award, which was granted outside of the 2020 Plan, was an inducement material to such executive entering into employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option award to purchase an aggregate of 240,000 of the Company’s common shares has a ten-year term and an exercise price of $ 9.83 per share. The award has terms and conditions consistent with those set forth under the 2020 Plan and vests under the similar vesting schedules as stock option awards granted under the 2020 Plan. The inducement grant is included in the stock options table below. Stock Options Total outstanding stock options as of June 30, 2023 was as follows: Number of Weighted Outstanding at January 1, 2023 8,032,902 $ 14.38 Granted 2,215,540 $ 11.80 Exercised ( 16,050 ) $ 2.67 Cancelled or forfeited ( 201,651 ) $ 14.76 Outstanding at June 30, 2023 10,030,741 $ 13.82 During the six months ended June 30, 2023, an aggregate of 16,050 options were exercised at a weighted-average exercise price of $ 2.67 per share. The fair value of stock options, and the assumptions used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted average basis: Three Months Ended Six Months Ended 2023 2022 2023 2022 Fair value of stock options $ 7.08 $ 7.23 $ 8.33 $ 9.51 Risk-free interest rate 3.75 % 2.92 % 3.68 % 2.00 % Expected terms (in years) 5.81 5.59 6.00 5.97 Expected volatility 80.78 % 78.85 % 81.48 % 78.55 % Expected dividend yield 0.00 % 0.00 % 0.00 % 0.00 % Restricted Share Units Total outstanding restricted share units as of June 30, 2023 was as follows: Number of Weighted Outstanding at January 1, 2023 — Awarded 626,260 $ 12.42 Forfeited ( 16,550 ) $ 12.42 Outstanding at June 30, 2023 609,710 $ 12.42 The fair value of each restricted share unit is estimated on the date of grant based on the fair value of our common shares on that same date. Share-Based Compensation Share-based compensation expense was allocated as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Research and development $ 3,329 $ 2,440 $ 6,548 $ 4,751 General and administrative 2,936 2,305 5,779 4,749 Total share-based compensation expense $ 6,265 $ 4,745 $ 12,327 $ 9,500 Share-based compensation expense by type of award was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Stock options $ 5,561 $ 4,695 $ 11,098 $ 9,407 Restricted share units 620 — 1,045 — ESPP 84 50 184 93 Total share-based compensation expense $ 6,265 $ 4,745 $ 12,327 $ 9,500 As of June 30, 2023 , there was $ 48.2 million and $ 6.5 million of unrecognized share-based compensation expense to be recognized over a weighted average period of 1 .8 years and 2.6 years related to unvested stock options and unvested restricted share units, respectively.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss per Share	10. Net Loss per Share The following table summarizes the computation of basic and diluted net loss per share attributable to common shareholders of the Company: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands, except share and per share amounts) Numerator: Net loss $ ( 11,946 ) $ ( 38,093 ) $ ( 46,887 ) $ ( 72,850 ) Denominator: Weighted-average common shares outstanding — basic and 42,089,530 41,899,509 42,065,237 41,880,666 Net loss per share — basic and diluted $ ( 0.28 ) $ ( 0.91 ) $ ( 1.11 ) $ ( 1.74 ) The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options to purchase common shares 10,030,741 7,974,403 10,030,741 7,974,403 Restricted share units 609,710 — 609,710 — Estimated shares issuable under the ESPP 5,353 1,712 5,353 1,712

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2022, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of June 30, 2023, the consolidated results of its operations for the three and six months ended June 30, 2023 and 2022, its statements of shareholders’ equity for the three and six months ended June 30, 2023 and 2022 and its consolidated cash flows for the six months ended June 30, 2023 and 2022. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2023 (the “Annual Report”). The condensed consolidated balance sheet data as of December 31, 2022 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the operating results to be expected for the full year or for any other subsequent interim period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report. There have been no changes to the Company's significant accounting policies since the date of the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation, right-of-use assets and lease liabilities and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known.

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Cash and Cash Equivalents and Marketable Securities	As of June 30, 2023 and December 31, 2022, cash and cash equivalents and marketable securities were comprised of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) As of June 30, 2023 Cash and cash equivalents: Cash $ 48,254 $ — $ — $ 48,254 Money market funds 67,290 — — 67,290 Total cash and cash equivalents: $ 115,544 $ — $ — $ 115,544 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 74,552 $ 2 $ ( 159 ) $ 74,395 Commercial paper 91,020 4 ( 271 ) 90,753 Total marketable securities $ 165,572 $ 6 $ ( 430 ) $ 165,148 As of December 31, 2022 Cash and cash equivalents: Cash $ 116,526 $ — $ — $ 116,526 Money market funds 42,995 — — 42,995 Total cash and cash equivalents: $ 159,521 $ — $ — $ 159,521 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 184,848 $ 5 $ ( 433 ) $ 184,420 Total marketable securities $ 184,848 $ 5 $ ( 433 ) $ 184,420

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2023 and December 31, 2022: Description Financial Assets Level 1 Level 2 Level 3 (in thousands) As of June 30, 2023 Assets Money market funds included in cash and cash equivalents $ 67,290 $ 67,290 $ — $ — Marketable securities U.S. Treasury and government-sponsored enterprises 74,395 — 74,395 — Commercial paper 90,753 — 90,753 — Total marketable securities 165,148 — 165,148 — Total financial assets $ 232,438 $ 67,290 $ 165,148 $ — As of December 31, 2022 Assets Money market funds included in cash and cash equivalents $ 42,995 $ 42,995 $ — $ — Marketable securities U.S. Treasury and government-sponsored enterprises 184,420 — 184,420 — Total financial assets $ 227,415 $ 42,995 $ 184,420 $ —

Other Current Receivables (Tabl

Other Current Receivables (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Other Current Receivables	Other current receivables as of June 30, 2023 and December 31, 2022 consisted of the following: June 30, December 31, (in thousands) Research and development tax credits receivable $ 2,023 $ 1,280 Collaboration revenue receivable 1,250 1,525 Other 2,008 1,518 Total other current receivables $ 5,281 $ 4,323

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of June 30, 2023 and December 31, 2022 consisted of the following: June 30, December 31, (in thousands) Accrued compensation and benefits $ 3,845 $ 5,616 Accrued research and development expense 16,592 15,078 Accrued professional services 941 680 Other 250 271 Total accrued expenses and other current liabilities $ 21,628 $ 21,645

Collaboration and License Agr_2

Collaboration and License Agreement (Tables)	6 Months Ended
	Jun. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Schedule of Revenue From Collaboration Agreements	The following table presents revenue from collaboration agreements: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Roche Collaboration and License Agreement $ 4,825 $ — $ 10,137 $ — Bristol Myers Squibb Collaboration and License Agreement 14,951 679 15,317 1,087 Ono Collaboration Agreement 10,473 — 10,473 — Total revenue $ 30,249 $ 679 $ 35,927 $ 1,087
Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Schedule of Transaction Price Performance Obligations	Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations is as follows: Performance obligation Transaction price (in thousands) Combined licenses $ 105,327 Completion of Continuing Trials 30,585 Transfer of clinical trial materials 2,714 Total transaction price $ 138,626
Schedule of Deferred Revenue	Deferred revenue pertaining to the Roche Agreement Completion of Continuing Trials (in thousands) Balance as of December 31, 2022 $ 17,957 Increase in collaboration revenue receivable 4,000 Recognition as revenue, as the result of performance obligations satisfied ( 5,312 ) Balance as of March 31, 2023 $ 16,645 Recognition as revenue, as the result of performance obligations satisfied ( 4,825 ) Balance as of June 30, 2023 $ 11,820 Classified as short-term $ 11,125 Classified as long-term 695
Bristol-Myers Squibb Company
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Schedule of Transaction Price Performance Obligations	Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations was as follows: Performance obligation Transaction price (in thousands) Research activities $ 6,405 Options to license druggable targets 31,148 Options to license undruggable targets 12,447 Total transaction price $ 50,000
Schedule of Deferred Revenue	Deferred revenue pertaining to the BMS Agreement Research activities Options to license druggable targets Options to license undruggable targets Total (in thousands) Balance as of December 31, 2022 $ 2,448 $ 12,459 $ 12,447 $ 27,354 Recognition as revenue, as the result of performance obligations ( 366 ) - - ( 366 ) Balance as of March 31, 2023 $ 2,082 $ 12,459 $ 12,447 $ 26,988 Increase in collaboration revenue receivable - 1,250 - 1,250 Recognition as revenue, as the result of performance obligations ( 1,242 ) ( 13,709 ) - ( 14,951 ) Balance as of June 30, 2023 $ 840 $ - $ 12,447 $ 13,287 Classified as short-term $ 840 $ - $ 12,447 $ 13,287 Classified as long-term - - - -
Ono Pharmaceutical Company Ltd
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Schedule of Deferred Revenue	Deferred revenue pertaining to the Ono Agreement Research activities (in thousands) Balance as of December 31, 2022 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied - Balance as of March 31, 2023 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied ( 10,473 ) Balance as of June 30, 2023 $ -

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Summary of Lease Costs	The following tables contain a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Operating Leases Lease Costs Operating lease costs $ 593 $ 615 $ 1,186 $ 1,231 Short-term lease costs 32 8 46 16 Variable lease costs 60 33 100 100 Total lease costs $ 685 $ 656 $ 1,332 $ 1,347
Summary of Other Operating Lease Information	Six Months Ended 2023 2022 (in thousands, except as specified otherwise) Other Operating Lease Information Operating cash flows used for operating leases $ 1,202 $ 802 Right-of-use assets obtained in exchange for new operating lease liability $ 149 $ 56 Weighted-average remaining lease term (in years) 1.95 2.91 Weighted-average discount rate 4.1 % 4.0 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Outstanding Stock Options	Total outstanding stock options as of June 30, 2023 was as follows: Number of Weighted Outstanding at January 1, 2023 8,032,902 $ 14.38 Granted 2,215,540 $ 11.80 Exercised ( 16,050 ) $ 2.67 Cancelled or forfeited ( 201,651 ) $ 14.76 Outstanding at June 30, 2023 10,030,741 $ 13.82
Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model	The fair value of stock options, and the assumptions used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted average basis: Three Months Ended Six Months Ended 2023 2022 2023 2022 Fair value of stock options $ 7.08 $ 7.23 $ 8.33 $ 9.51 Risk-free interest rate 3.75 % 2.92 % 3.68 % 2.00 % Expected terms (in years) 5.81 5.59 6.00 5.97 Expected volatility 80.78 % 78.85 % 81.48 % 78.55 % Expected dividend yield 0.00 % 0.00 % 0.00 % 0.00 %
Summary of Total Outstanding Restricted Stock Units	Total outstanding restricted share units as of June 30, 2023 was as follows: Number of Weighted Outstanding at January 1, 2023 — Awarded 626,260 $ 12.42 Forfeited ( 16,550 ) $ 12.42 Outstanding at June 30, 2023 609,710 $ 12.42 The fair value of each restricted share unit is estimated on the date of grant based on the fair value of our common shares on that same date.
Schedule of Share-based Compensation Expense	Share-based compensation expense was allocated as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Research and development $ 3,329 $ 2,440 $ 6,548 $ 4,751 General and administrative 2,936 2,305 5,779 4,749 Total share-based compensation expense $ 6,265 $ 4,745 $ 12,327 $ 9,500 Share-based compensation expense by type of award was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Stock options $ 5,561 $ 4,695 $ 11,098 $ 9,407 Restricted share units 620 — 1,045 — ESPP 84 50 184 93 Total share-based compensation expense $ 6,265 $ 4,745 $ 12,327 $ 9,500

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss Per Share Attributable To Common Shareholders	The following table summarizes the computation of basic and diluted net loss per share attributable to common shareholders of the Company: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands, except share and per share amounts) Numerator: Net loss $ ( 11,946 ) $ ( 38,093 ) $ ( 46,887 ) $ ( 72,850 ) Denominator: Weighted-average common shares outstanding — basic and 42,089,530 41,899,509 42,065,237 41,880,666 Net loss per share — basic and diluted $ ( 0.28 ) $ ( 0.91 ) $ ( 1.11 ) $ ( 1.74 )
Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options to purchase common shares 10,030,741 7,974,403 10,030,741 7,974,403 Restricted share units 609,710 — 609,710 — Estimated shares issuable under the ESPP 5,353 1,712 5,353 1,712

Organization and Nature of Bu_2

Organization and Nature of Business - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023
Organization and Nature of Business [Line Items]
Entity incorporation, date of incorporation	Sep. 06, 2016

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Marketable Securities - Summary of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash And Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 115,544	$ 159,521
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	115,544	159,521
Money Market Funds | Cash And Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	67,290	42,995
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	67,290	42,995
Marketable Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	165,572	184,848
Unrealized Gains	6	5
Unrealized Losses	(430)	(433)
Fair Value	165,148	184,420
Marketable Securities | U.S. Treasury and government-sponsored enterprises
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	74,552	184,848
Unrealized Gains	2	5
Unrealized Losses	(159)	(433)
Fair Value	74,395	184,420
Cash | Cash And Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	48,254	116,526
Fair Value	48,254	$ 116,526
Commercial Paper [Member] | Marketable Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	91,020
Unrealized Gains	4
Unrealized Losses	(271)
Fair Value	$ 90,753

Cash and Cash Equivalents and_4

Cash and Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 300,000		$ 300,000		$ 400,000
Aggregate fair value	135,300,000		135,300,000		$ 157,900,000
Allowance for credit losses or other impairment charges	0	$ 0	0	$ 0
Unrealized Gain (Loss) On Derivatives	$ 200,000	$ 0	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Total financial assets	$ 232,438	$ 227,415
Money market funds included in cash and cash equivalents
Assets
Total financial assets	67,290	42,995
Marketable Securities
Assets
Total financial assets	165,148
Commercial Paper
Assets
Total financial assets	90,753
U.S. Treasury and government-sponsored enterprises
Assets
Total financial assets	74,395	184,420
Level 1
Assets
Total financial assets	67,290	42,995
Level 1 | Money market funds included in cash and cash equivalents
Assets
Total financial assets	67,290	42,995
Level 1 | Marketable Securities
Assets
Total financial assets	0
Level 1 | Commercial Paper
Assets
Total financial assets	0
Level 1 | U.S. Treasury and government-sponsored enterprises
Assets
Total financial assets	0	0
Level 2
Assets
Total financial assets	165,148	184,420
Level 2 | Money market funds included in cash and cash equivalents
Assets
Total financial assets	0
Level 2 | Marketable Securities
Assets
Total financial assets	165,148
Level 2 | Commercial Paper
Assets
Total financial assets	90,753
Level 2 | U.S. Treasury and government-sponsored enterprises
Assets
Total financial assets	$ 74,395	$ 184,420

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	Jun. 30, 2023 USD ($)
Fair Value Disclosures [Abstract]
Fair value, assets, transfers between levels	$ 0

Other Current Receivables - Sch

Other Current Receivables - Schedule of Other Current Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Research and development tax credits receivable	$ 2,023	$ 1,280
Collaboration revenue receivable	1,250	1,525
Other	2,008	1,518
Total other current receivables	$ 5,281	$ 4,323

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 3,845	$ 5,616
Accrued research and development expense	16,592	15,078
Accrued professional services	941	680
Other	250	271
Total accrued expenses and other current liabilities	$ 21,628	$ 21,645

Collaboration and License Agr_3

Collaboration and License Agreements - Schedule of Revenue from Collaboration Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 30,249	$ 679	$ 35,927	$ 1,087
Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	4,825	0	10,137	0
Bristol-Myers Squibb Company
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	14,951	679	15,317	1,087
Ono Pharmaceutical Company Ltd
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 10,473	$ 0	$ 10,473	$ 0

Collaboration and License Agr_4

Collaboration and License Agreement - Additional Information (Details) $ in Thousands, ¥ in Millions					1 Months Ended						3 Months Ended		6 Months Ended		7 Months Ended
	Oct. 31, 2021 USD ($)	Oct. 31, 2021 JPY (¥)	Jan. 01, 2019 USD ($)	Jan. 01, 2019 JPY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Jul. 31, 2022	Oct. 31, 2021	Jun. 30, 2020 USD ($)	May 30, 2020	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jul. 31, 2023	Jun. 30, 2023 JPY (¥)	Mar. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	May 31, 2020 USD ($)
Roche
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Non-refundable payment received											$ 138,626		$ 138,626
Roche | Collaboration and License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Estimated period of completion of trials to get revenue							24 months
Non-refundable payment received											134,600		134,600
Deferred revenue recognized											4,800	$ 0	10,100	$ 0
Deferred revenue					$ 18,000						11,800		11,800
Deferred revenue, current					15,300						11,100		11,100
Deferred revenue, noncurrent					2,700						700		700
Roche | Collaboration and License Agreement | Commercial Milestones
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestones Payments													1,172,000
Roche | Collaboration and License Agreement | Clinical trial materials
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Non-refundable payment received											5,600		5,600
Roche | Collaboration and License Agreement | Product additional clinical development plan
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration revenue receivable																		$ 4,000
Non-refundable payment received											4,000		4,000
Amount of additional consideration											4,000		4,000
Roche | Collaboration and License Agreement | Upfront non refundable first payment received
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Non-refundable payment received											125,000		125,000
Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Non-refundable payment received											50,000		50,000
Bristol-Myers Squibb Company | Druggable Target
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue recognized											12,700	0	12,700	0
Bristol-Myers Squibb Company | Collaboration and License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration term expiration period										42 months
Initial nonrefundable upfront fee received									$ 50,000
Non-refundable payment received																			$ 50,000
Deferred revenue					27,354						13,287		13,287				$ 26,988
Deferred revenue, current					27,400						13,287		13,287
Deferred revenue, noncurrent											0		0
Bristol-Myers Squibb Company | Collaboration and License Agreement | Product Research Activity [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue recognized											1,200	700	1,600	1,100
Bristol-Myers Squibb Company | Collaboration and License Agreement | Druggable Target
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue, triggered furthur development											1,000	0	1,000	0
Option fee											250		250
Bristol-Myers Squibb Company | Collaboration and License Agreement | Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments entitled to be received																			301,000
Bristol-Myers Squibb Company | Collaboration and License Agreement | Maximum | Research, Development and Regulatory Milestones
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments entitled to be received																			176,000
Bristol-Myers Squibb Company | Collaboration and License Agreement | Maximum | Commercial Milestones
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments entitled to be received																			$ 125,000
Ono Pharmaceutical Company Ltd | Collaboration and License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Initial nonrefundable upfront fee received			$ 8,100	¥ 900
Collaboration term extended period								1 year
Second amendment agreement															In January 2023, the Company and Ono entered into a second amendment to the Ono Agreement whereby the Research Term, as defined in the Ono Agreement, was extended until July 31, 2023
Milestone payments entitled to be received											6,500		6,500			¥ 750
Deferred Revenue, Additions	$ 900	¥ 100			$ 1,500	¥ 200
Deferred revenue recognized											10,500	$ 0	10,500	$ 0
Ono Pharmaceutical Company Ltd | Collaboration and License Agreement | Commercial Milestones
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments entitled to be received											$ 149,500		$ 149,500			¥ 17,210

Collaboration and License Agr_5

Collaboration and License Agreement - Schedule of Transaction Price Performance Obligations (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Roche
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	$ 138,626
Roche | Combined licenses
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	105,327
Roche | Completion of Continuing Trials
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	30,585
Roche | Transfer of clinical trial materials
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	2,714
Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	50,000
Bristol-Myers Squibb Company | Research Activities
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	6,405
Bristol-Myers Squibb Company | Options to License Druggable Target Lesions
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	31,148
Bristol-Myers Squibb Company | Options to License Undruggable Targets
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	$ 12,447

Collaboration and License Agr_6

Collaboration and License Agreements - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Roche | Completion of Continuing Trials
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	$ 16,645	$ 17,957
Increase in collaboration revenue receivable		4,000
Recognition as revenue, as the result of performance obligations satisfied	(4,825)	(5,312)
Balance, Ending	11,820	16,645
Classified as short-term	11,125
Classified as long-term	695
Roche | Collaboration and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning		18,000
Balance, Ending	11,800
Classified as short-term	11,100		$ 15,300
Classified as long-term	700		2,700
Bristol-Myers Squibb Company | Research Activities
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	2,082	2,448
Increase in collaboration revenue receivable	0
Recognition as revenue, as the result of performance obligations satisfied	(1,242)	(366)
Balance, Ending	840	2,082
Classified as short-term	840
Classified as long-term	0
Bristol-Myers Squibb Company | Options to License Druggable Target Lesions
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	12,459	12,459
Increase in collaboration revenue receivable	1,250
Recognition as revenue, as the result of performance obligations satisfied	(13,709)	0
Balance, Ending	0	12,459
Classified as short-term	0
Classified as long-term	0
Bristol-Myers Squibb Company | Options to License Undruggable Targets
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	12,447	12,447
Increase in collaboration revenue receivable	0
Recognition as revenue, as the result of performance obligations satisfied	0	0
Balance, Ending	12,447	12,447
Classified as short-term	12,447
Classified as long-term	0
Bristol-Myers Squibb Company | Collaboration and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	26,988	27,354
Increase in collaboration revenue receivable	1,250
Recognition as revenue, as the result of performance obligations satisfied	(14,951)	(366)
Balance, Ending	13,287	26,988
Classified as short-term	13,287		$ 27,400
Classified as long-term	0
Ono Pharmaceutical Company Ltd | Research Activities
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	10,473	10,473
Recognition as revenue, as the result of performance obligations satisfied	(10,473)	0
Balance, Ending	$ 0	$ 10,473

Leases - Additional Information

Leases - Additional Information (Details) - Lease	1 Months Ended	6 Months Ended
	Jan. 31, 2023	Jun. 30, 2023
Lessee Lease Description [Line Items]
Number of operating leases		4
Lessee, operating lease, existence of option to terminate		false
Office and Laboratory Space | Montreal, Quebec
Lessee Lease Description [Line Items]
Minimum lease term	32 months
Operating lease, expiration month and year	2025-08

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease Costs
Operating lease costs	$ 593	$ 615	$ 1,186	$ 1,231
Short-term lease costs	32	8	46	16
Variable lease costs	60	33	100	100
Total lease costs	$ 685	$ 656	$ 1,332	$ 1,347

Leases - Summary of Other Opera

Leases - Summary of Other Operating Lease Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating cash flows used for operating leases	$ 1,202	$ 802
Right-of-use asset obtained in exchange for new operating lease liability	$ 149	$ 56
Weighted-average remaining lease term (in years)	1 year 11 months 12 days	2 years 10 months 28 days
Weighted-average discount rate	4.10%	4%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended				6 Months Ended
	May 31, 2023	Jun. 30, 2020	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options, Granted	240,000						2,215,540
Vesting term	10 years
Options granted, Exercise price	$ 9.83						$ 11.8
Common stock shares issued			42,093,946				42,093,946		42,036,193
Number of options exercised							16,050
Options, weighted-average exercise price							$ 2.67
Aggregate proceeds from exercise of options							$ 44	$ 233
Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested restricted share units			$ 6,500				$ 6,500
Unrecognized share-based compensation expense related to unvested stock options, weighted average period							2 years 7 months 6 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested stock options			$ 48,200				$ 48,200
Unrecognized share-based compensation expense related to unvested stock options, weighted average period							9 months 18 days
Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options exercised			14,050	2,000	44,268	12,235
2020 Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			1,445,331				1,445,331
Annual increases in number of shares available for issuance as percentage of outstanding shares common stock on final day of preceding calendar year		1%
Annual increases in number of shares available for issuance maximum number of common stock issued		3,300,000
Purchase price of shares as percentage of fair market value of common stock on date of purchase		85%
Common stock shares issued		0	41,703				41,703
Shares issued, price per share			$ 9.8				$ 9.8
Cash received from purchases under ESPP							$ 400
2020 Employee Share Purchase Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock initially reserved for future issuance		327,000
Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance		298,605
Option Plan | Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares ceased granting		4,074,135
2020 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			10,026,479				10,026,479
Annual increases in number of shares available for issuance as percentage of outstanding shares common stock on final day of preceding calendar year							5%
2020 Equity Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance		3,807,448
Shares of common stock initially reserved for future issuance		3,600,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Outstanding Stock Options (Details) - $ / shares	1 Months Ended	6 Months Ended
	May 31, 2023	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Number of options, Outstanding at beginning of period		8,032,902
Number of options, Granted	240,000	2,215,540
Number of options, Exercised		(16,050)
Number of options, Cancelled or forfeited		(201,651)
Number of options, Outstanding at end of period		10,030,741
Weighted average exercise price, Outstanding at beginning of period		$ 14.38
Weighted average exercise price, Granted	$ 9.83	11.8
Weighted average exercise price, Exercised		2.67
Weighted average exercise price, Cancelled or forfeited		14.76
Weighted average exercise price, Outstanding at end of period		$ 13.82

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Fair value of stock options	$ 7.08	$ 7.23	$ 8.33	$ 9.51
Risk-free interest rate	3.75%	2.92%	3.68%	2%
Expected terms (in years)	5 years 9 months 21 days	5 years 7 months 2 days	6 years	5 years 11 months 19 days
Expected volatility	80.78%	78.85%	81.48%	78.55%
Expected dividend yield	0%	0%	0%	0%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Total Outstanding Restricted Stock Units (Details) - Restricted Share Units	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units, Beginning balance	0
Restricted stock units, Awarded	626,260
Restricted stock units, Forfeited	(16,550)
Restricted stock units, Ending balance	609,710
Weighted average grant date fair value, Awarded | $ / shares	$ 12.42
Weighted Average Grant Date Fair Value Forfeited | $ / shares	12.42
Weighted average grant date fair value, Ending balance | $ / shares	$ 12.42

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 6,265	$ 4,745	$ 12,327	$ 9,500
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	3,329	2,440	6,548	4,751
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	2,936	2,305	5,779	4,749
Stock Options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	5,561	4,695	11,098	9,407
Restricted Share Units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	620	0	1,045	0
Two Thousand Twenty Employee Share Purchase Plan [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 84	$ 50	$ 184	$ 93

Net Loss per Share - Summary of

Net Loss per Share - Summary of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (11,946)	$ (38,093)	$ (46,887)	$ (72,850)
Denominator:
Weighted-average common shares outstanding-basic	42,089,530	41,899,509	42,065,237	41,880,666
Weighted-average common shares outstanding-diluted	42,089,530	41,899,509	42,065,237	41,880,666
Net loss per share basic	$ (0.28)	$ (0.91)	$ (1.11)	$ (1.74)
Net loss per share diluted	$ (0.28)	$ (0.91)	$ (1.11)	$ (1.74)

Net Loss per Share - Computatio

Net Loss per Share - Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Options to Purchase Common Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	10,030,741	7,974,403	10,030,741	7,974,403
Restricted Share Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	609,710	0	609,710	0
Estimated Shares Issuable Under the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	5,353	1,712	5,353	1,712