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REPL

Replimune Group, Inc.

REPL

Replimune Group, Inc. • NASDAQ
$10.00 ▼ -0.60% (-0.06)
Market Cap $784.40 M
52w High $14.79
52w Low $2.68
Dividend Yield 0%
P/E -2.88
Volume 855.21K
Outstanding Shares 78.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $0 $84.291M ▼ $-83.1M ▲ 0% $-0.9 ▲ $-82.04M ▲
Q1-2026 $0 $90.422M ▲ $-86.693M ▼ 0% $-0.95 ▲ $-89.429M ▼
Q4-2025 $0 $79.031M ▲ $-74.13M ▼ 0% $-0.96 ▼ $-71.955M ▼
Q3-2025 $0 $66.019M ▲ $-66.34M ▼ 0% $-0.79 ▼ $-64.95M ▼
Q2-2025 $0 $58.916M $-53.055M 0% $-0.68 $-57.583M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $323.644M ▼ $389.45M ▼ $126.114M ▼ $263.336M ▼
Q1-2026 $403.34M ▼ $469.507M ▼ $132.792M ▼ $336.715M ▼
Q4-2025 $483.804M ▼ $551.328M ▼ $135.485M ▲ $415.843M ▼
Q3-2025 $536.539M ▲ $603.628M ▲ $121.254M ▲ $482.374M ▲
Q2-2025 $432.059M $498.202M $116.743M $381.459M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-83.1M ▲ $-81.212M ▼ $84.169M ▲ $324K ▲ $4.923M ▲ $-82.555M ▼
Q1-2026 $-86.693M ▼ $-77.016M ▼ $65.048M ▲ $-158K ▼ $-13.742M ▲ $-79.756M ▼
Q4-2025 $-74.13M ▼ $-53.731M ▼ $-7.7M ▲ $-132K ▼ $-61.123M ▼ $-54.865M ▼
Q3-2025 $-66.34M ▼ $-50.713M ▼ $-46.32M ▼ $155.93M ▲ $58.746M ▲ $-52.513M ▼
Q2-2025 $-53.055M $-38.639M $458K $-39K $-38.159M $-40.723M

Five-Year Company Overview

Income Statement

Income Statement Replimune is still a pure R&D story with no product revenue yet, so all activity runs through operating expenses rather than sales. Losses have steadily widened over the past several years as the company has invested more in clinical trials and built up commercial capabilities ahead of potential approvals. This pattern is typical for a late‑stage biotech, but it means the business is entirely dependent on external funding and future product success. The trend suggests a company moving from early research into more expensive, late‑stage and pre‑launch activity, with profitability still a distant prospect and highly contingent on regulatory outcomes for RP1 and, later, RP2.

Balance Sheet

Balance Sheet The balance sheet shows a research‑stage biotech with a solid base of equity and relatively modest use of debt, which limits financial leverage risk. Cash makes up a meaningful portion of total assets, but cash balances have moved down over time while losses increased, pointing to a shrinking cushion unless new capital is raised. Overall, the company does not appear overburdened by borrowings, but its asset mix is heavily tilted to intangible R&D value rather than hard, cash‑generating assets. That makes future funding and successful product development central to maintaining balance sheet strength.

Cash Flow

Cash Flow Cash flows are consistently negative, driven by operating cash burn from clinical development and company build‑out, with only small outlays for equipment and facilities. Free cash flow is firmly in the red and has become more negative as programs advance and commercial infrastructure is put in place. This is normal for a company at this stage, but it implies an ongoing need for capital raises, partnerships, or milestone payments to sustain operations. The business is not yet self‑funding and depends on the timing of regulatory decisions and potential deals to manage liquidity risk.

Competitive Edge

Competitive Edge Replimune’s competitive edge rests on its Immulytic platform and deep experience in oncolytic viruses, an area where the founding team helped develop the first approved product in the field. The strategy of using engineered viruses to both kill tumors directly and “heat up” otherwise non‑responsive cancers is differentiated and aligns well with combination use alongside checkpoint inhibitors. The lead program RP1 has gained significant regulatory recognition in melanoma, but a recent FDA rejection of the initial application highlights both the promise and fragility of its position. Competition remains intense from other immuno‑oncology approaches, including rival oncolytic platforms and cell therapies, so demonstrating clearly superior or complementary outcomes will be key to sustaining a moat.

Innovation and R&D

Innovation and R&D Innovation is the core of Replimune’s value, with a modular viral backbone that can be “armed” with different immune‑stimulating components for various tumor types. RP1, with breakthrough designation and an accelerated approval attempt, showcases the platform’s potential, while RP2 extends it into even more challenging, immune‑cold cancers. The decision to discontinue RP3 after portfolio review suggests some discipline in capital allocation and a focus on the most promising assets rather than chasing breadth for its own sake. Overall, R&D depth and scientific sophistication are clear strengths, but the recent regulatory setback illustrates how binary and uncertain the return on this innovation can be.

Summary

Replimune is a late‑stage, pre‑revenue oncology biotech whose story is dominated by one key technology platform and a small number of lead assets. Financially, it shows the classic profile of a clinical‑stage company: no sales, rising losses, steady cash burn, modest debt, and a balance sheet that is adequate for now but dependent on future funding. Strategically, its focus on engineered oncolytic viruses and combination approaches gives it a distinctive angle within immuno‑oncology, backed by an experienced team and encouraging clinical signals. The biggest drivers from here are regulatory and clinical: how the company resolves the FDA’s concerns on RP1, how confirmatory trials read out, and whether RP2 can broaden the platform’s reach. Success could transform the profile from a cash‑burning R&D operation into a commercial cancer company, while delays or disappointing data would increase financing pressure and heighten risk for existing shareholders.

NEWS

November 7, 2025 · 4:45 PM UTC

Replimune Presents Late-Breaking Abstract and Additional Posters on RP1 at 40th Annual Meeting of the Society for the Immunotherapy of Cancer (SITC 2025)

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November 6, 2025 · 8:00 AM UTC

Replimune Reports Fiscal Second Quarter 2026 Financial Results and Provides Corporate Update

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October 20, 2025 · 7:00 AM UTC

Replimune Announces FDA Acceptance of BLA Resubmission of RP1 for the Treatment of Advanced Melanoma

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October 19, 2025 · 8:00 AM UTC

Replimune Highlights Acral Melanoma Data for RP1 plus Nivolumab at the ESMO Congress 2025

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October 8, 2025 · 6:24 PM UTC

REPLIMUNE ALERT: Bragar Eagel & Squire, P.C. is Investigating Replimune Group, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

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