Replimune Group (REPL) Registration Filing summary

Company overview and business model

• Clinical-stage biotechnology company focused on oncolytic immunotherapy for cancer, leveraging a proprietary RPx platform based on engineered herpes simplex virus 1 to activate systemic anti-tumor immune responses.

• Lead product candidate RP1 is in advanced clinical trials for skin cancers, with additional candidates RP2 and RP3 targeting broader tumor types, including those less responsive to immunotherapy.

• RP1 is being developed both as monotherapy and in combination with anti-PD-1 therapy, aiming to establish a major skin cancer treatment franchise.

• The company collaborates with major pharmaceutical partners, such as Bristol Myers Squibb, and is advancing multiple registration-directed and confirmatory trials globally.

• RP2 and RP3 are engineered to enhance immune responses and are being tested in difficult-to-treat tumors, including metastatic uveal melanoma and hepatocellular carcinoma.

Financial performance and metrics

• As of March 31, 2025, net tangible book value was approximately $551.3 million, or $5.39 per share, with 77,085,024 shares outstanding.

• After a $100 million offering at $8.46 per share, as adjusted net tangible book value would be $648.2 million, or $5.76 per share, resulting in immediate dilution of $2.70 per share to new investors.

• The company qualifies as a smaller reporting company, allowing for scaled financial disclosures and reduced executive compensation reporting.

Use of proceeds and capital allocation

• Net proceeds, together with existing cash, investments, and term loan facility, will fund continued development of the RPx platform, including indication expansion for RP1 in skin cancer and broadening the RP2 clinical plan.

• Additional uses include general corporate purposes, working capital, and operating expenses, with management retaining broad discretion over allocation.