Replimune Group, Inc. reported its financial results for the three and six months ended September 30, 2024, showing a net loss of $53.1 million for the quarter, a decrease from a net loss of $60.0 million in the same period of 2023. For the six months, the net loss was $106.8 million, down from $109.6 million year-over-year. The basic and diluted net loss per share improved to $(0.68) for the quarter and $(1.45) for the six months, compared to $(0.90) and $(1.65), respectively, in the prior year.

Total operating expenses for the three months ended September 30, 2024, were $58.9 million, a reduction from $63.8 million in the same quarter of 2023. Research and development (R&D) expenses decreased to $43.4 million from $49.1 million, primarily due to reduced costs associated with the RP1 program and the wind-down of the CERPASS and IGNYTE phase II studies. Selling, general, and administrative (SG&A) expenses increased slightly to $15.5 million from $14.7 million, attributed mainly to personnel-related costs.

The company reported total current assets of $442.6 million as of September 30, 2024, up from $433.7 million as of March 31, 2024. Cash and cash equivalents increased significantly to $113.5 million from $74.5 million during the same period. The total stockholders' equity rose to $381.5 million, compared to $374.5 million at the end of the previous fiscal period. However, the accumulated deficit increased to $(808.1 million) from $(701.3 million).

Replimune's financial activities included net cash provided by financing activities of $96.6 million for the six months ended September 30, 2024, a substantial increase from $1.5 million in the same period of 2023. This was primarily driven by a private placement completed in June 2024, which raised approximately $96.7 million.

The company continues to focus on its clinical-stage product candidates, particularly RP1, RP2, and RP3, with ongoing trials and collaborations with major pharmaceutical companies. Despite the financial losses, Replimune anticipates that its cash resources will be sufficient to fund operations into the second half of 2026, as it seeks to advance its product candidates through clinical trials and towards potential commercialization.