Repare Therapeutics Insiders Establish Automatic Securities Disposition Plans
December 29 2023 - 3:05PM
Business Wire
Repare Therapeutics Inc. (“Repare” or the “Company”) (Nasdaq:
RPTX), a leading clinical-stage precision oncology company enabled
by its proprietary synthetic lethality approach to the discovery
and development of novel therapeutics, today announced that its
executive officers (collectively, the “Executives”) have
established new Automatic Securities Disposition Plans (“ASDPs”),
in accordance with applicable United States and Canadian securities
legislation, including U.S. Securities and Exchange Commission
(“SEC”) Rule 10b5-1 and the recommended practices set forth in the
Canadian Securities Administrators’ Staff Notice 55-317 (“Staff
Notice 55-317”) and the Company’s internal policies.
While Repare is listed on the Nasdaq Global Select Market, it is
also considered a reporting issuer under the Securities Act
(Québec) and is therefore announcing the establishment of the ASDPs
in furtherance of the guidance provided by the Canadian Securities
Administrators in Staff Notice 55-317.
Under U.S. and Canadian securities laws and the Company’s
trading policies, insiders of Repare are subject to limits on their
ability to sell shares in the Company. The ASDPs address this issue
by permitting trades to be made in accordance with pre-arranged
instructions given when Executives are not in possession of any
material non-public information. In addition, each of the
Executives has confirmed that, at the time of the establishment of
the ASDPs, he or she was not in possession of any material
non-public information regarding Repare and its securities.
Up to 929,670 common shares of Repare in the aggregate may be
sold under the ASDPs implemented by each of its President and Chief
Executive Officer, Lloyd M. Segal, Executive Vice President and
Chief Financial Officer, Steve Forte, Executive Vice President and
Chief Medical Officer, Maria Koehler, Executive Vice President and
Chief Scientific Officer, Michael Zinda, Executive Vice President
and Chief Business Officer, Kim Seth, Executive Vice President and
Head of Discovery, Cameron Black, Executive Vice President
Commercial and New Product Development, Philip Herman, and
Executive Vice President of Human Resources, Daniel Bélanger. The
ASDPs are designed to allow for an orderly disposition of each of
the Executives’ shares in Repare at prevailing market prices over
the course of the approximately 15 months that the ASDPs are
expected to be in place. Sales of the common shares under the ASDPs
will only commence after the later of: a) 90 days following the
adoption of the ASDPs; or b) three full trading days following the
date that the Company has publicly filed its annual financial
statements for the fiscal year ending December 31, 2023, in
accordance with the recommended practices set forth in Staff Notice
55-317 as well as the SEC Rule 10b5-1.
Each Executive has provided for clear trading parameters and
other instructions in writing to the independent dealers
administering the ASDPs, specifying the number of securities to be
sold and setting out minimum trade prices, which mainly exceed the
current trading price of the Company’s common shares, and the dates
or frequencies of sales. The ASDPs prohibit the dealer
administering the ASDPs from consulting with the Executives
regarding any sales under the ASDPs and prohibit the Executive from
disclosing to the dealer any information concerning the Company
that might influence the execution of the ASDPs.
The ASDPs contain meaningful restrictions on the ability of the
Executives to amend, suspend or terminate the ASDPs that have the
effect of ensuring that the Executives cannot benefit from material
non-public information. In addition, each Executive may only
complete trades under one ASDP at any given time.
About Repare Therapeutics Inc.
Repare Therapeutics is a leading clinical-stage precision
oncology company enabled by its proprietary synthetic lethality
approach to the discovery and development of novel therapeutics.
The Company utilizes its genome-wide, CRISPR-enabled SNIPRx®
platform to systematically discover and develop highly targeted
cancer therapies focused on genomic instability, including DNA
damage repair. The Company’s pipeline includes lunresertib (also
known as RP-6306), a PKMYT1 inhibitor currently in Phase 1 clinical
development; camonsertib (also known as RP-3500 or RG6526), a
potential leading ATR inhibitor currently in Phase 1/2 clinical
development and partnered with Roche; RP-1664, a preclinical PLK4
inhibitor program; RP-3467, a preclinical Polθ inhibitor program;
as well as additional, undisclosed preclinical programs. For more
information, please visit reparerx.com.
SNIPRx® is a registered trademark of Repare Therapeutics
Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20231229812707/en/
Repare:
Robin Garner Vice President and Head of Investor Relations
Repare Therapeutics Inc. info@reparerx.com
Investors:
Matthew DeYoung Argot Partners repare@argotpartners.com
Media:
David Rosen Argot Partners david.rosen@argotpartners.com
212-600-1902
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