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News  ›  Benzinga

Repare Therapeutics Stock Rises As Gilead Secures Cancer Asset For $30 Million

Benzinga Logo Benzinga By Vandana Singh
Repare Therapeutics Stock Rises As Gilead Secures Cancer Asset For $30 Million

Gilead Sciences agreed to acquire Repare Therapeutics' polymerase theta (Polθ) ATPase inhibitor RP-3467 for up to $30 million ($25 million upfront plus $5 million upon technology transfer completion). The deal increases Repare's cash balance, raising the estimated cash payment to shareholders to approximately $2.20 per share. RPTX shares surged 18.43% in premarket trading to a new 52-week high.

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RPTX   positive

Stock surged 18.43% to a new 52-week high following the $30 million asset acquisition deal with Gilead, which increases cash balance and shareholder payout to $2.20 per share. This represents the third and most significant portfolio transaction for the company this year.