BIOTECHNOLOGY VALUE FUND L P 4

What Happened
BVF Partners L.P., identified as a 10% beneficial owner of Repare Therapeutics (RPTX), disposed of a total of 10,166,943 common shares on January 28, 2026. The Form 4 reports three related disposition entries (5,309,432; 4,308,573; 548,938 shares) in connection with a change of control (the merger). Per the filing footnote, each share was exchanged for $2.20 in cash plus one contingent value right (CVR), implying cash proceeds of approximately $22.37 million in aggregate, plus the CVRs. This was a merger-related disposition (not an open-market sale).

Key Details

• Transaction date: January 28, 2026 (effective date of the merger). Form filed: January 30, 2026.
• Reported disposals: 5,309,432; 4,308,573; and 548,938 shares (total 10,166,943).
• Price reported on Form 4: N/A; footnote clarifies consideration = $2.20 cash per share + one CVR per share.
• Approximate cash received: $2.20 × 10,166,943 ≈ $22.37 million (plus CVRs).
• Transaction code: “U” — disposition in connection with a change of control (merger).
• Shares owned after the transaction: not specified on this Form 4 (the merger acquired all outstanding common shares).
• Filing: Joint Form 4 by multiple related entities (see footnotes); reporting persons disclaim beneficial ownership except to extent of pecuniary interest.

Context
This was an institutional, merger-related disposition by a 10% holder (BVF and affiliated reporting entities) as part of the deal under an Arrangement Agreement; such transactions reflect deal consideration rather than routine insider selling and should not be read as a standalone signal of management sentiment. The filing notes the buyer acquired all issued and outstanding common shares effective January 28, 2026.