Replimune Group Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The auditor's going-concern note and the cash "only into Q1 2027" are hard warning signals, as are Altman Z deep in the red and Piotroski 1 of 9. At the same time the case is binary: an RP1 approval around August 2, 2026 could lever the slim market value upward, a third no would hit a company at its cash limit. Abrupt price moves in both directions are possible around this date. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Replimune is not a case of substance versus story, but a pure bet with clear conditions: a fascinating cancer technology and a tangible FDA date of August 2, 2026 on one side — on the other an auditor who doubts survival in black and white, not a cent of revenue, $1.26 billion in accumulated losses, two regulatory rejections and a workforce cut of about 55 percent. The stock is a warrant on a single yes or no. Not investment advice.
Technology & program
Oncolytic immunotherapy on its own RPx platform (HSV-1) is one of the most exciting ideas in cancer medicine; the lead drug RP1 is tested in the IGNYTE trial against advanced melanoma, combined with nivolumab, which Bristol Myers Squibb contributes free of charge (annual report 10-K 2026).
Going concern & liquidity
The auditor has issued a going-concern note: the cash ($268.9 million as of March 31, 2026) lasts, per the company, only into the first calendar quarter of 2027, against an operating cash outflow of $280.3 million in fiscal year 2026 and with no committed further financing.
Loss & revenue
No product revenue since inception; the net loss rose in three fiscal years from $66.6 to $313.9 million, the accumulated deficit stands at $1,262.5 million — more than the entire market weight. The stock's value is entirely a bet on a future approval.
Regulatory (FDA)
Two rejection notices (CRL) in July 2025 and April 2026 — the second contradicted, per the company, an earlier FDA position. On June 26, 2026 the FDA accepted the resubmission with an action date of August 2, 2026 and an advisory committee in late July 2026: a binary event with an open outcome.
Market & momentum
Plus 153 percent in two months and plus 642 percent above the 52-week low, carried by the approval hope; about 97 percent institutional ownership. At the same time technical scanners rate the rally as a topping formation (Weinstein Stage 3) and "overheated" — an altitude rush next to a going-concern note.
Worth Noting
Replimune's fiscal year ends on March 31; annual figures refer to the respective fiscal year (e.g. "2026" = April 1, 2025 through March 31, 2026). Program and trial milestones, by contrast, the company reports on a calendar-year basis.
All earnings and balance-sheet figures come from the audited annual report 10-K for the fiscal year ended March 31, 2026 as well as the quarterly reports; the FDA date status (August 2, 2026) is the status stated in the 10-K.
Price and valuation figures dated to July 8, 2026 (about $11); analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at REPL since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.70 $ to 16.00 $ · Last price: 12.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Biotechnology
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Replimune Group Inc REPL | 1.1 | – | -0.2 | – | – | – | 125.4 |
| Vertex Pharmaceuticals Inc VRTX | 130.6 | 31.3 | 24.5 | 55.0 | 38.1 | 9.6 | 33.4 |
| Regeneron Pharmaceuticals Inc REGN | 82.0 | 19.9 | 13.1 | 44.5 | 20.7 | 1.0 | 35.5 |
| Moderna Inc MRNA | 62.7 | – | 4.6 | -66.0 | -131.1 | -39.2 | 532.3 |
| argenx NV ARGX | 61.9 | 38.1 | 34.2 | 59.1 | 32.0 | 89.6 | 30.9 |
| Revolution Medicines Inc RVMD | 40.9 | – | -9.7 | -174,708.6 | 0.0 | -100.0 | 338.3 |
| BeiGene, Ltd. ONC | 40.0 | 63.1 | 34.1 | 88.9 | 19.1 | 40.2 | 6.4 |
| Alnylam Pharmaceuticals Inc ALNY | 32.6 | 61.8 | 28.4 | 79.7 | 23.0 | 65.2 | -48.1 |
| Royalty Pharma Plc RPRX | 32.5 | 31.8 | 19.6 | 95.8 | 100.3 | 5.1 | 68.6 |
| Median of companies shown | 40.9 | 34.9 | 19.6 | 57.0 | 21.8 | 7.3 | 35.5 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 0 | -10 | -8 | -0.25 | -7 | -12 | 23 |
| 2018 | 0 | -19 | -20 | -0.64 | -16 | -28 | 65 |
| 2019 | 0 | -31 | -31 | -1.33 | -25 | 138 | 154 |
| 2020 | 0 | -56 | -53 | -1.54 | -61 | 184 | 234 |
| 2021 | 0 | -83 | -81 | -1.75 | -61 | 499 | 543 |
| 2022 | 0 | -121 | -118 | -2.26 | -82 | 411 | 461 |
| 2023 | 0 | -177 | -174 | -2.99 | -128 | 555 | 647 |
| 2024 | 0 | -235 | -216 | -3.24 | -185 | 375 | 488 |
| 2025 | 0 | -262 | -247 | -3.07 | -192 | 416 | 551 |
| 2026 | 0 | -320 | -314 | -3.38 | -280 | 166 | 332 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | -0.68 | – | 0 | – | – | -39 | -41 |
| 2024: Q4 | -0.79 | – | 0 | – | – | -51 | -53 |
| 2025: Q1 | -0.82 | – | 2 | -63.60 | -5,036.00 | -54 | -55 |
| 2025: Q2 | -0.95 | – | 0 | – | – | -77 | -80 |
| 2025: Q3 | -0.90 | – | 0 | – | – | -81 | -83 |
| 2025: Q4 | -0.77 | – | 0 | – | – | -66 | -66 |
| 2026: Q1 | -0.76 | 7.30 | – | – | – | -56 | -56 |
| 2026: Q2 | -0.72 | 24.20 | – | – | – | -76 | -76 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Momentum & Trend
Research
Risk & Weakness
- Bankruptcy Study: Stacked Warning Signals
- Going Concern (Distress Proxy)
- Insolvency Radar: Cash Running Low
- Mike Webster: Overextended (Webby RSI)
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 03/31/2027 | -2.98 | -3.21 – -2.74 | 34 | 12.0% | 2 |
| 03/31/2028 | -2.04 | -2.48 – -1.60 | 197 | 31.5% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 13.07.2026 gegen die Geschäftsberichte (10-K) für die Geschäftsjahre bis 31.03.2026 (eingereicht 29.06.2026) und bis 31.03.2025 (22.05.2025) sowie die vier jüngsten Quartalsberichte (10-Q). Replimune ist ein klinisches Biotech-Unternehmen für onkolytische Immuntherapie (RPx-Plattform auf HSV-1-Basis; Leitwirkstoff RP1 gegen fortgeschrittenes Melanom). In den ausgewerteten SEC-Filings findet sich kein wesentlicher KI-Bezug: keine KI-Produkte oder -Dienste als Umsatzquelle (das Unternehmen erzielt überhaupt keinen Produktumsatz), kein dokumentierter operativer KI-Einsatz (etwa in der Wirkstoff-Forschung) und kein konkretes KI-Geschäftsrisiko fürs eigene Modell. Die einzigen zwei Erwähnungen von „artificial intelligence“ im 10-K 2026 sind eine generische regulatorische Sammel-Floskel, die KI zusammen mit Datenschutz und Cybersicherheit als mögliche künftige EU-Compliance-Anforderung nennt (EU-KI-Verordnung) — nach dem Kriterienkatalog ist das eine Boilerplate-Risk-Floskel ohne konkreten Bezug zum onkolytischen Virus-Geschäft und begründet weder „bedroht“ noch „nutzt“ noch „verkauft“. Damit bleibt es beim dokumentierten Negativ-Befund „neutral“.
View the full file — quotes, sources, reviewed filings
„We may also be subject to additional industry-specific privacy, cybersecurity, data protection, operational and information systems resilience, and artificial intelligence-related laws in Europe (including the EU AI Act) which may subject us to additional similar risks and impacts."
Wir könnten zudem zusätzlichen branchenspezifischen Vorschriften in Europa zu Datenschutz, Cybersicherheit, operativer und informationssystembezogener Widerstandsfähigkeit sowie zu künstlicher Intelligenz (einschließlich der EU-KI-Verordnung) unterliegen, die uns ähnlichen zusätzlichen Risiken und Auswirkungen aussetzen können.
10-K · 2026-06-29 · View SEC filing
„We are a clinical-stage biotechnology company committed to applying our leading expertise in the field of oncolytic immunotherapy to transform the lives of cancer patients through our novel oncolytic immunotherapies."
Wir sind ein Biotech-Unternehmen im klinischen Stadium, das seine führende Expertise auf dem Gebiet der onkolytischen Immuntherapie einsetzt, um das Leben von Krebspatienten durch unsere neuartigen onkolytischen Immuntherapien zu verändern.
10-K · 2026-06-29 · View SEC filing
Filings Reviewed: 10-K 2026-06-29 · 10-K 2025-05-22 · 10-Q 2026-02-03 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-02-12
Rated on July 13, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years no data
- More than 10% revenue growth is expected for the coming year -11.1%
- Share count grows by less than 3% a year 16.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") no data
- Gross margin at 40% or higher and without meaningful erosion no data
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 157 m net cash
- Operating cash flow covers the profits of the last three years 119 m
- Return on capital at 15% or higher, or up versus two years ago -116.7%
- Insiders hold at least 10% or are net buyers 2.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% –
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -188.9%
- ROCE > 15% -116.7%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Astley-Sparke Philip | Director | Other | 50,000 | 0.00 | – |
| Aug 17, 2026 | Hill Emily Luisa | Chief Financial Officer | Sell | 9,256 | 14.28 | 132,176 |
| Aug 10, 2026 | Patel Sushil | Chief Executive Officer | Sell | 39,341 | 12.97 | 510,253 |
| Aug 10, 2026 | Hill Emily Luisa | Chief Financial Officer | Sell | 11,448 | 12.97 | 148,481 |
| Aug 10, 2026 | Xynos Konstantinos | Chief Medical Officer | Sell | 11,447 | 12.97 | 148,468 |
| Aug 10, 2026 | Schwendenman Andrew | Chief Accounting Officer | Sell | 7,632 | 12.97 | 98,987 |
The company
About the Company
Replimune Group, Inc., ein Biotechnologieunternehmen in der klinischen Phase, konzentriert sich auf die Entwicklung und Vermarktung onkolytischer Immuntherapien zur Krebsbehandlung.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 465
- Headquarters
- Woburn, MA
- Address
- 500 Unicorn Park Drive, 01801 Woburn, United States
- Phone
- 781 222 9600
- Website
- replimune.com
- IPO Date
- 07/20/2018
- ISIN
- US76029N1063
Management
| Name | Title | Birth Year |
|---|---|---|
| Sushil Patel Ph.D. | CEO & Director | 1971 |
| Emily Luisa Hill | Chief Financial Officer | 1980 |
| Konstantinos Xynos M.B.A., M.D., Ph.D. | Chief Medical Officer | 1966 |
| Philip Astley-Sparke F.S.A. | Executive Chairman | 1971 |
| Andrew Schwendenman | Chief Accounting Officer & Treasurer | 1976 |
| Shawn Glidden J.D. | Senior VP & General Counsel | – |
| Camilo Garcia M.A., M.B.A. | Chief Human Resource Officer | – |
| Paul Bullock | Chief Manufacturing Officer & Framingham Site Head | – |
| Nina Aragam | Senior Vice President of Portfolio Strategy & Program Management | – |
| Carolyn Trott | Senior Vice President of Quality Assurance | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/16/2026 Replimune Group, Inc. (REPL): Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Submission of Matters to a Vote of Security Holders; Financial Statements and Exhibits SEC ↗
- 08/14/2026 Replimune Group, Inc. (REPL): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 08/10/2026 Replimune Group, Inc. (REPL): Other Events; Financial Statements and Exhibits SEC ↗
- 08/07/2026 Replimune Group, Inc. (REPL): Other Events; Financial Statements and Exhibits SEC ↗
- 07/31/2026 Replimune Group, Inc. (REPL): Other Events; Financial Statements and Exhibits SEC ↗
- 07/30/2026 Replimune Group, Inc. (REPL): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.