Replimune Group (REPL) AI Stock Analysis

• Market Cap: $604.80M
• Dividend Yield: N/A
• Average Volume (3M): 1.22M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.76
• Revenue Growth: N/A
• EPS Growth: -15.77%
• Country: US
• Employees: 479
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.90
• Shares Outstanding: 78,443,340
• 10 Day Avg. Volume: 1,046,402
• 30 Day Avg. Volume: 1,224,402
• PEG Ratio: 0.61
• Price to Book (P/B): 1.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.95
• Enterprise Value/Market Cap: 0.23
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -162.51
• Enterprise Value/Ebitda: -0.45
• 1Y Price Target: $11.43
• Price Target Upside: 42.16% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $8.00 ▼(-0.50% Downside)

The score is held down primarily by weak financial performance (no revenue, widening losses, and heavy cash burn) and bearish technical momentum. Offsetting these, corporate events are a meaningful positive given the FDA acceptance and defined April 2026 decision date plus stated launch preparation, but valuation remains unfavorable due to ongoing losses and no dividend support.

Positive Factors

Regulatory Milestone (BLA Acceptance)

FDA acceptance with a defined PDUFA date provides a clear regulatory timeline that materially reduces uncertainty versus an open review. This enables prioritized resource allocation for potential launch, planning for commercialization, and clarity on the path to revenue for a clinical-stage biotech.

Clinical Efficacy in Resistant Subgroups

Durable objective responses and nearly 12-month median duration of response in a PD-1–failed population indicate the RP1 platform can deliver clinically meaningful outcomes in hard-to-treat subgroups. Sustained efficacy and tolerable safety support long-term product differentiation and commercial adoption if approved.

Commercial Readiness and Platform Experience

A pre-built commercial team and targeted account activation plans reduce time-to-market execution risk if approval is granted. Operational experience treating ~1,000 patients across the RPx platform demonstrates scalability of administration and clinical operations, aiding sustainable roll-out and uptake.

Negative Factors

Heavy and Accelerating Cash Burn

Large, accelerating negative operating and free cash flows deplete liquidity and force ongoing reliance on external financing. Over a multi-month horizon this raises dilution risk, constrains discretionary R&D or commercial spend, and creates execution risk if capital markets tighten.

Pre-Commercial, No Revenue Base

With no recurring product revenue and widening operating losses, the company cannot self-fund growth. This structural lack of internal cash generation increases dependency on financings and partners, elevating the probability of dilution or program prioritization decisions that could impair long-term pipeline development.

Program Viability Tied to Regulatory Pathway

Management has indicated RP1's advanced melanoma program may be non-viable without accelerated approval, concentrating business risk on a single regulatory outcome. This binary dependency increases the chance that unfavorable or delayed decisions materially impact future clinical development and commercial prospects.

Replimune Group Business Overview & Revenue Model

Company Description

Replimune Group, Inc., a biotechnology company, develops oncolytic immuno-gene therapies to treat cancer. It uses its proprietary Immunotherapy platform to design and develop product candidates that are intended to activate the immune system against cancer. The company's lead product candidate is RP1, a selectively replicating version of herpes simplex virus 1, which is in Phase I/II clinical trials for a range of solid tumors; and that is in Phase II clinical trials for patients with cutaneous squamous cell carcinoma. It is also developing RP2, which is in Phase I clinical trials for an anti-CTLA-4 antibody-like protein in order to block the inhibition of the immune response otherwise caused by CTLA-4; and RP3 that is in Phase I clinical trials to express immune-activating proteins that stimulate T cells. Replimune Group, Inc. was founded in 2015 and is headquartered in Woburn, Massachusetts.

How the Company Makes Money

Replimune Group generates revenue primarily through partnerships, collaborations, and licensing agreements with other pharmaceutical and biotechnology companies. These partnerships often involve upfront payments, milestone payments, and potential royalties based on the successful development and commercialization of their oncolytic immunotherapies. While Replimune is still in the clinical trial phase for many of its product candidates, such collaborations are crucial for funding ongoing research and development activities. Additionally, the company may also receive government grants or funding from cancer research organizations to support its innovative work in oncolytic virotherapy.

Replimune Group Financial Statement Overview

Summary

Replimune Group is in an early growth stage, heavily investing in R&D, which impacts profitability and cash flow. While the company maintains a strong equity position, it experiences significant operational losses typical for its industry phase. Future financial performance will depend on successful product development and commercialization.

Income Statement

Replimune Group has shown minimal revenue with a TTM revenue of $4.04 million, indicating an initial phase of commercial operations. The company is experiencing significant negative EBIT and EBITDA margins due to high operating expenses, typical for biotechnology firms in research phases. Net profit margins are also deeply negative, reflecting ongoing losses as the company invests heavily in R&D.

Balance Sheet

The balance sheet shows a strong equity position relative to liabilities, with a debt-to-equity ratio of 0.06 in TTM. The equity ratio stands at 79.9%, indicating a low leverage. However, substantial net losses contribute to a low return on equity, typical for companies heavily investing in development before achieving commercial success.

Cash Flow

Operating cash flow remains negative, reflecting cash outflows associated with R&D activities. Despite this, the company has managed robust financing activities, maintaining liquidity with significant cash reserves. Free cash flow has shown a marginal decline, emphasizing the need for efficient cash management to support ongoing operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-848.00K	0.00	0.00	0.00	-4.58M	-4.14M
EBITDA	-308.37M	-253.92M	-227.77M	-171.72M	-114.41M	-76.48M
Net Income	-310.26M	-247.30M	-215.79M	-174.28M	-118.04M	-80.87M
Balance Sheet
Total Assets	389.45M	551.33M	487.72M	646.59M	461.19M	543.10M
Cash, Cash Equivalents and Short-Term Investments	323.64M	483.80M	420.67M	583.39M	395.65M	476.30M
Total Debt	76.32M	76.17M	75.87M	60.76M	32.84M	33.28M
Total Liabilities	126.11M	135.49M	113.21M	91.30M	49.96M	44.37M
Stockholders Equity	263.34M	415.84M	374.51M	555.29M	411.23M	498.73M
Cash Flow
Free Cash Flow	-269.69M	-198.94M	-191.13M	-130.32M	-84.52M	-63.78M
Operating Cash Flow	-262.67M	-192.25M	-185.47M	-128.05M	-82.18M	-61.39M
Investing Cash Flow	95.20M	-23.80M	97.20M	-142.50M	-1.81M	-188.78M
Financing Cash Flow	155.96M	252.40M	16.28M	311.30M	6.60M	372.46M

Replimune Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.04
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For REPL, the sentiment is Negative. The current price of 8.04 is below the 20-day moving average (MA) of 9.13, below the 50-day MA of 9.34, and above the 200-day MA of 7.89, indicating a bearish trend. The MACD of -0.43 indicates Positive momentum. The RSI at 31.16 is Neutral, neither overbought nor oversold. The STOCH value of 7.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for REPL.

Replimune Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AVXL	62 Neutral	$430.66M	-8.86	-43.11%	―	―	-5.71%
RCUS	55 Neutral	$3.04B	―	-68.13%	―	-8.75%	-8.79%
ORIC	54 Neutral	$1.10B	-6.50	-39.73%	―	―	4.29%
NRIX	54 Neutral	$1.93B	―	-65.35%	―	48.32%	-1.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SANA	51 Neutral	$1.26B	-4.88	-96.11%	―	―	31.16%
REPL	48 Neutral	$604.80M	-2.14	-96.24%	―	―	-15.77%

Replimune Group Corporate Events

Replimune Highlights RP1, RP2 Progress Ahead of JPM Conference

On January 12, 2026, Replimune released an updated corporate presentation highlighting recent strategic developments and clinical data for its RP1 and RP2 oncolytic immunotherapy programs ahead of its appearance at the J.P. Morgan Healthcare Conference on January 14, 2026. The company reported that it is preparing for a potential commercial launch in melanoma, with a near-term regulatory decision date of April 10, 2026, a “launch ready” commercial team, and roughly 150 treatment accounts expected to be activated on day one, reflecting significant operational build-out. Clinical data from the IGNYTE study in anti-PD-1–failed melanoma showed durable and clinically meaningful response rates across difficult, resistant patient subgroups, with approximately 1,000 patients treated across the RPx platform and successful administration into deep lesions such as liver and lung, underscoring the platform’s potential to address resistance to checkpoint inhibitors and support Replimune’s competitive positioning in the immuno-oncology field.

The most recent analyst rating on (REPL) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Replimune Group stock, see the REPL Stock Forecast page.

Replimune Group’s FDA Resubmission for RP1 Accepted

On October 20, 2025, Replimune Group announced that the FDA accepted their resubmission of the Biologics License Application for RP1 in combination with nivolumab for advanced melanoma treatment. The FDA set a PDUFA date of April 10, 2026, marking a significant step in providing new treatment options for patients who have progressed on PD-1 based therapies. This acceptance follows Replimune’s efforts to address FDA feedback, and the resubmission is considered a complete response to a previous letter from the FDA.

The most recent analyst rating on (REPL) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Replimune Group stock, see the REPL Stock Forecast page.