Replimune Reports Fiscal First Quarter 2026 Financial Results and Provides Corporate Update Woburn, MA

Replimune Reports Fiscal First Quarter 2026

Financial Results and Provides Corporate Update

Woburn, MA, August 7, 2025 - Replimune Group,

Inc. (Nasdaq: REPL), a clinical stage biotechnology company pioneering the development of novel oncolytic immunotherapies, today announced

financial results for the fiscal first quarter ended June 30, 2025 and provided a business update.

The Company announced on July 22, 2025 that the U.S. Food and Drug

Administration (FDA) had issued a Complete Response Letter (CRL) for the RP1 BLA in advanced melanoma.

"Based on the compelling clinical data and safety profile generated

to date with RP1 in the IGNYTE study, the melanoma community, including clinical experts and patients, strongly believe RP1 should be

made available to patients that have few remaining treatment options as soon as possible. We are committed to finding an expeditious path

forward with the FDA," said Sushil Patel, Ph.D., CEO of Replimune.

Program Highlights & Milestones

RP1 (vusolimogene oderparepvec)

RP1 (vusolimogene oderparepvec)

Financial Highlights

Based on the current operating plan, the Company believes

that existing cash, cash equivalents and short-term investments, as of June 30, 2025 will enable the Company to fund operations into

the fourth quarter of 2026 which includes the potential commercialization of RP1 in skin cancers and for working capital and general corporate

purposes and excludes any potential revenue.

RP1 (vusolimogene oderparepvec) is Replimune's lead product candidate

and is based on a proprietary strain of herpes simplex virus engineered and genetically armed with a fusogenic protein (GALV-GP R-) and

GM-CSF intended to maximize tumor killing potency, the immunogenicity of tumor cell death, and the activation of a systemic anti-tumor

RP2 is based on a proprietary strain of herpes simplex virus engineered

and genetically armed with a fusogenic protein (GALV-GP R-) and GM-CSF intended to maximize tumor killing potency, the immunogenicity

of tumor cell death and the activation of a systemic anti-tumor immune response. RP2 additionally expresses an anti-CTLA-4 antibody-like

molecule, as well as GALV-GP R- and GM-CSF. RP2 is intended to provide targeted and potent delivery of these proteins to the sites of

immune response initiation in the tumor and draining lymph nodes, with the goal of focusing systemic-immune-based efficacy on tumors and

limiting off-target toxicity.

Replimune Group, Inc., headquartered in Woburn, MA, was founded in

2015 with the mission to transform cancer treatment by pioneering the development of novel oncolytic immunotherapies. Replimune's

proprietary RPx platform is based on a potent HSV-1 backbone intended to maximize immunogenic cell death and the induction of a systemic

anti-tumor immune response. The RPx platform is intended to ignite local activity consisting of direct selective virus-mediated killing

of the tumor resulting in the release of tumor derived antigens and altering of the tumor microenvironment to then activate a strong and

durable systemic response. The RPx product candidates are expected to be synergistic with most established and experimental cancer treatment

modalities, leading to the versatility to be developed alone or combined with a variety of other treatment options. For more information,

please visit www.replimune.com.

Forward Looking Statements

This press release contains forward looking statements within the meaning

of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including

statements regarding our expectations about our cash runway, the status of the FDA review or interactions following the complete response

letter, the design and advancement of our clinical trials, the timing and sufficiency of our clinical trial outcomes to support potential

approval of any of our product candidates, the regulatory review process and timing of potential product approval, our goals to develop

and commercialize our product candidates, patient enrollments in our existing and planned clinical trials and the timing thereof, and

other statements identified by words such as "could," "expects," "intends," "may," "plans,"

"potential," "should," "will," "would," or similar expressions and the negatives of those

terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties,

many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in such forward-looking

statements. These factors include risks related to our limited operating history, our ability to generate positive clinical trial results

for our product candidates, the costs and timing of operating our in-house manufacturing facility, the timing and scope of regulatory

approvals, the availability of combination therapies needed to conduct our clinical trials, changes in laws and regulations to which we

are subject, competitive pressures, our ability to identify additional product candidates, political and global macro factors including

the impact of a global pandemic and related public health issues and the ongoing political and military conflicts, including trade conflicts,

and other risks as may be detailed from time to time in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other reports

we file with the Securities and Exchange Commission. Our actual results could differ materially from the results described in or implied

by such forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake

no obligation to update or revise these forward-looking statements.

Replimune Group, Inc.

Condensed Consolidated Statements of Operations

(Amounts in thousands, except share and per

Replimune Group, Inc.

Condensed Consolidated Balance Sheets

(Amounts In thousands, except share and per