SCHEDULE: Versant Funds Significantly Reduce Repare Therapeutics Stake

Versant Venture Capital and its affiliated funds have substantially decreased their beneficial ownership in Repare Therapeutics Inc. through a series of share sales in November 2025.

Summary

• Versant Venture Capital and its affiliated entities (the "Reporting Persons") filed Amendment No. 6 to their Schedule 13D, disclosing significant reductions in their holdings of Repare Therapeutics Inc. Common Shares.
• Between November 19, 2025, and November 21, 2025, the Reporting Persons collectively sold 2,561,957 Common Shares of Repare Therapeutics Inc.
• The sales occurred at prices ranging from $2.1064 to $2.1605 per share, totaling approximately $5,422,264.57 in aggregate proceeds.
• Key sales included 376,152 shares on November 19, 2025, 2,004,006 shares on November 20, 2025, and 181,799 shares on November 21, 2025.
• Following these transactions, the beneficial ownership percentages for most Versant entities are now 0.0% or 0.2% of the outstanding Common Shares.
• The percentage of class is based on 42,985,755 Common Shares outstanding as of October 31, 2025, as reported in Repare Therapeutics' Form 10-Q for the quarter ended September 30, 2025, filed on November 14, 2025.

Sentiment

Score: 3

Explanation: The sentiment is negative due to a significant reduction in beneficial ownership by a major institutional investor, which can signal diminished confidence in the company's future prospects.

Negatives

• A significant institutional investor, Versant, has substantially reduced its stake in Repare Therapeutics Inc., potentially signaling a lack of confidence or a strategic exit.
• The divestment of over 2.5 million shares by a major investor could exert downward pressure on the company's stock price.

Future Outlook

This filing does not provide any forward-looking statements or guidance regarding Repare Therapeutics Inc.'s future operations or financial performance. It solely reports past transactions by a beneficial owner.

Industry Context

This filing reflects a divestment by a venture capital firm from a biotechnology company. Such transactions are common as venture capital funds mature their investments and seek to realize returns. While specific industry trends are not detailed, a significant reduction in stake by a major investor can be interpreted within the broader context of investor sentiment towards the biotech sector or specific company prospects.

Stakeholder Impact

• Shareholders: May experience negative sentiment and potential downward pressure on share price due to the significant divestment by a major institutional investor.

Key Dates

Recommendation

The significant divestment of over 2.5 million shares by a major institutional investor like Versant Venture Capital suggests a strategic exit or a loss of confidence in Repare Therapeutics Inc.'s future prospects. This action by a sophisticated investor could signal underlying concerns not immediately apparent to the broader market, potentially leading to further downward pressure on the stock. Therefore, a seasoned investor would likely consider selling their holdings to mitigate potential losses.

Keywords

Repare Therapeutics, Versant Venture Capital, Schedule 13D, beneficial ownership, share sales, institutional investor, biotech, pharmaceuticals