Does "repeat research" really work?

[MegaTrain]

If I have, say 100k of research a turn, and I've just discovered a new weapon type, say High-energy discharge weapons, can I get it to research more than one level a turn?

If I put it in as the only research project, and click "repeat", will it successfully research level 1 (20k), level 2 (32k), level 3(45k) and start level 4 in just 1 turn? Or will it just finish level 1 and waste the other 80k of research points?
(My numbers might not match the actual research costs, but you get the idea)