Replimune Closes $300M Public Offering

Ticker: REPL · Form: 8-K · Filed: 2024-06-06T00:00:00.000Z

Sentiment: bullish

Topics: financing, public-offering, biotech

TL;DR

Replimune just closed a $300M stock offering at $20/share, boosting cash for cancer drug development.

AI Summary

Replimune Group, Inc. filed an 8-K on June 6, 2024, to report on the closing of its previously announced underwritten public offering. The company successfully raised approximately $300 million in gross proceeds before deducting underwriting discounts and commissions. This offering involved the sale of 15,000,000 shares of common stock at a price of $20.00 per share.

Why It Matters

This capital raise provides Replimune with significant funding to advance its clinical pipeline, potentially accelerating the development and commercialization of its cancer immunotherapies.

Risk Assessment

Risk Level: medium — While the capital raise is positive, the success of Replimune's drug candidates and the competitive landscape in cancer immunotherapy present ongoing risks.

Key Numbers

Key Players & Entities

FAQ

What was the total amount of gross proceeds raised by Replimune in this offering?

Replimune raised approximately $300 million in gross proceeds from the underwritten public offering.

What was the price per share for the common stock sold in the offering?

The common stock was sold at a price of $20.00 per share.

How many shares of common stock were sold in the offering?

A total of 15,000,000 shares of common stock were sold.

What is the purpose of the funds raised by Replimune?

The filing indicates the funds will be used for general corporate purposes, which typically includes advancing clinical development of their product candidates.

When did the offering close?

The 8-K filing was made on June 6, 2024, reporting the closing of the offering.

Filing Stats: 889 words · 4 min read · ~3 pages · Grade level 11.6 · Accepted 2024-06-06 09:15:41

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On June 6, 2024, Replimune Group, Inc. (the "Company") issued a news release announcing data updates from certain of its RP1 and RP2 programs, and made available a new presentation with respect to such updates. A copy of the press release and the presentation are furnished as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K, respectively and will be available on the Company's website at www.replimune.com under "Investors and Media." The Company undertakes no obligation to update, supplement or amend the materials furnished herewith. The information contained in this Item 7.01 and in the accompanying Exhibits 99.1 and 99.2 shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this Item 7.01 and the accompanying Exhibits 99.1 and 99.2 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

01 Other Events

Item 8.01 Other Events. On June 6, 2024, the Company announced the topline results from the primary analysis of its IGNYTE clinical trial of RP1 plus nivolumab in anti-PD1 failed melanoma. The results by independent central review show one-third of patients receiving RP1 plus nivolumab responded to treatment, improving upon the investigator-assessed data presented at ASCO 2024, with all responses lasting greater than 6 months from baseline. The anti-PD1 failed melanoma cohort from the IGNYTE clinical trial includes 140 patients who received RP1 plus nivolumab after confirmed progression while being treated with at least 8 weeks of prior anti-PD1 therapy (+/- anti-CTLA-4). The primary analysis by independent central review was triggered once all patients had been followed for at least 12 months. The topline results show the overall response rate was 33.6% by modified RECIST 1.1 criteria, the primary endpoint as defined in the protocol, and 32.9% by RECIST 1.1 criteria, an additional analysis requested by the United States Federal Drug Agency (the "FDA"). Responses from baseline were highly durable, with all responses lasting more than 6 months and median duration of response exceeding 35 months. The Company plans to submit the full primary analysis data from the anti-PD1 failed melanoma cohort including key secondary endpoint data and subgroups for presentation at an upcoming medical congress. RP1 combined with nivolumab continues to be well-tolerated, with mainly Grade 1-2 constitutional-type side effects observed. Treatment-related adverse events associated with RP1 in combination with nivolumab were predominantly Grade 1-2 constitutional type events (> 5% of patients), including fatigue, chills, pyrexia, nausea, influenza-like illness, injection-site pain, diarrhea, vomiting, headache, pruritis, asthenia, arthralgia, myalgia, decreased appetite, and rash, with a low incidence of Grade 3-5 events. Grade 4 events were one each of lipase increased, alanine amino

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 99.1 News Release dated June 6, 2024 99.2 Company Presentation dated June 6, 2024 104 Cover page interactive data file (formatted as Inline XBRL)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REPLIMUNE GROUP, INC. Date: June 6, 2024 By: /s/ Sushil Patel Sushil Patel Chief Executive Officer

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