Subsequent Events	6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events (a) Roche Collaboration and License Agreement On June 1, 2022, the Company entered into a collaboration and license agreement (the “Roche Agreement”) with Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively, “Roche”) regarding the development and commercialization of the Company’s product candidate camonsertib (also known as RP-3500) and specified other ATR (Ataxia-Telangiectasia and Rad3-related protein kinase) inhibitors (the “Licensed Products”). The transaction was subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions, which were met on July 13, 2022. The Company granted Roche a worldwide, exclusive, sublicensable license to develop, manufacture, and commercialize the Licensed Products. Roche will assume development of camonsertib with the potential to expand development into additional tumors and multiple combination studies. The Company has agreed to complete specified ongoing clinical trials at the Company’s expense. The Company also retained the right to conduct specified clinical trials of camonsertib in combination with the Company’s PKMYT1 compound (also known as RP-6306). Under the terms of the Roche Agreement, the Company received an upfront payment of $125 million in July 2022, and is eligible to receive up to $1.172 billion in potential clinical, regulatory, commercial and sales milestones, including an estimated $55 million in potential near-term payments, and royalties on global net sales ranging from high-single-digits to high-teens. The Roche Agreement also provides the Company with the ability to opt-in to a 50/50 U.S. co-development and profit share arrangement, including participation in U.S. co-promotion if U.S. regulatory approval is received. If the Company chooses to exercise its co-development and profit share option, it will continue to be eligible to receive certain clinical, regulatory, commercial and sales milestone payments, in addition to full ex-U.S. royalties. The Company is currently assessing the accounting implications from the Roche Agreement which became effective on July 13, 2022 upon the clearance of the closing conditions. The Company does not expect a cash tax impact from the closing of the Roche Agreement as it should have sufficient tax losses to cover the impact. (b) Sales Agreement On August 4, 2022, the Company entered into a Common Shares Sales Agreement, or the Sales Agreement, with Cowen and Company, LLC, or Cowen, as sales agent, pursuant to which the Company may offer and sell, from time to time, common shares, or the ATM Shares. The ATM Shares to be sold under the Sales Agreement, if any, will be issued and sold pursuant to the Company's shelf registration statement on Form S-3 (File No. 333-257668), which was declared effective by the Securities and Exchange Commission, or SEC, on April 25, 2022, up to a maximum aggregate amount of $125.0 million. The Company will file a prospectus supplement with the SEC on August 4, 2022 in connection with the offer and sale of the ATM Shares pursuant to the Sales Agreement.

Subsequent Events

6 Months Ended

Jun. 30, 2022

10. Subsequent Events

(a) Roche Collaboration and License Agreement

On June 1, 2022, the Company entered into a collaboration and license agreement (the “Roche Agreement”) with Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively, “Roche”) regarding the development and commercialization of the Company’s product candidate camonsertib (also known as RP-3500) and specified other ATR (Ataxia-Telangiectasia and Rad3-related protein kinase) inhibitors (the “Licensed Products”). The transaction was subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions, which were met on July 13, 2022.

The Company granted Roche a worldwide, exclusive, sublicensable license to develop, manufacture, and commercialize the Licensed Products. Roche will assume development of camonsertib with the potential to expand development into additional tumors and multiple combination studies. The Company has agreed to complete specified ongoing clinical trials at the Company’s expense. The

Company also retained the right to conduct specified clinical trials of camonsertib in combination with the Company’s PKMYT1 compound (also known as RP-6306).

Under the terms of the Roche Agreement, the Company received an upfront payment of $125 million in July 2022, and is eligible to receive up to $1.172 billion in potential clinical, regulatory, commercial and sales milestones, including an estimated $55 million in potential near-term payments, and royalties on global net sales ranging from high-single-digits to high-teens. The Roche Agreement also provides the Company with the ability to opt-in to a 50/50 U.S. co-development and profit share arrangement, including participation in U.S. co-promotion if U.S. regulatory approval is received. If the Company chooses to exercise its co-development and profit share option, it will continue to be eligible to receive certain clinical, regulatory, commercial and sales milestone payments, in addition to full ex-U.S. royalties.

The Company is currently assessing the accounting implications from the Roche Agreement which became effective on July 13, 2022 upon the clearance of the closing conditions. The Company does not expect a cash tax impact from the closing of the Roche Agreement as it should have sufficient tax losses to cover the impact.

(b) Sales Agreement

On August 4, 2022, the Company entered into a Common Shares Sales Agreement, or the Sales Agreement, with Cowen and Company, LLC, or Cowen, as sales agent, pursuant to which the Company may offer and sell, from time to time, common shares, or the ATM Shares. The ATM Shares to be sold under the Sales Agreement, if any, will be issued and sold pursuant to the Company's shelf registration statement on Form S-3 (File No. 333-257668), which was declared effective by the Securities and Exchange Commission, or SEC, on April 25, 2022, up to a maximum aggregate amount of $125.0 million. The Company will file a prospectus supplement with the SEC on August 4, 2022 in connection with the offer and sale of the ATM Shares pursuant to the Sales Agreement.