Shares of Repare Therapeutics Inc.
were trading higher in Wednesday’s after-hours session, following news the company entered a worldwide license and collaboration agreement with Roche
to develop and commercialize camonsertib.
Camonsertib, or RP-3500, is being developed to treat tumors with specific synthetic-lethal genomic alterations, the company said. Under the terms of the deal, “Roche will assume development of camonsertib with the potential to expand development into additional tumors and multiple combination studies,” Repare said.
The deal will see Repare receive a $125 million upfront payment, and the company is eligible to receive up to $1.2 billion in milestone payments, it said.
At 6:20 p.m. ET, Repare’s share were trading 18.29% higher, at $10.35 per share. The stock finished the day’s regular session with a 4.68% loss, closing at $8.75 per share.