Roche, Repare’s licensing deal includes milestone payments worth up to $1.2 billion

Shares of Repare Therapeutics Inc. RPTX, +30.63% jumped 24.5% in premarket trading on Thursday, the day after the company said it signed a worldwide licensing and collaboration agreement with Roche Holding AG ROG, +0.23% to develop and commercialize Repare’s experimental tumor treatment. The drug, camonsertib, is being tested as a way to treat tumors with specific synthetic-lethal genomic alterations. Roche will pay Repare $125 million upfront; the agreement also includes up to $1.2 billion in potential milestone payments, royalties on global net sales, and $55 million in what Roche called “potential near-term payments.” Repare’s stock has tumbled 58.5% so far this year, while the S&P 500 SPX, -0.29% is down 13.9%.

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