Replimune Group, Inc. 8-K

What Happened

• Replimune Group, Inc. filed an 8-K on Feb 3, 2026 announcing its financial results for the third fiscal quarter ended December 31, 2025 and corporate updates. Separately, on January 29, 2026 the company and certain subsidiaries entered a Third Amendment to their Loan and Security Agreement with Hercules Capital, Inc. and other lenders to change tranche amounts, extend milestone dates and modify loan economics. The third tranche of $35 million was funded on the amendment closing date.

Key Details

• Amendment date: January 29, 2026 (Third Amendment Closing Date).
• Tranche changes: third tranche increased from $30M to $35M (funded); fourth decreased from $50M to $30M; fifth availability extended for $50M; sixth increased from $25M to $40M.
• Timing/milestones: revenue milestone date extended to September 30, 2027; third tranche availability extended to June 15, 2026; fourth tranche availability extended to September 30, 2026 (or 60 days after approval milestone); fifth tranche availability extended to December 31, 2027 (or 60 days after revenue milestone).
• Loan economics: interest rate amended to the greater of 8.50% or Prime + 1.75%; amortization date extended from October 1, 2026 to October 1, 2027.

Why It Matters

• The amendment provides near-term liquidity (a funded $35M tranche) and pushes milestone deadlines into 2026–2027, reducing near-term covenant pressure. However, the loan now carries a higher baseline interest cost (at least 8.50% or Prime + 1.75%), and lenders retained amended tranche conditions. Investors should view this as a balance between improved cash runway and increased financing costs; review the company’s accompanying quarter results for the full financial impact.