Cryptic crossword clue
Rare cat, nine lives ultimately wasted, gets another life 12

The most common and most likely answer to this crossword clue is the 12 letter word REINCARNATES

I've seen this crossword clue in The Times
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Buddy explains!

The straight part
We know that "gets another life" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case gets another life = reincarnates.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does REINCARNATES mean?

REINCARNATES verb
  1. To be, or cause to be, reborn, especially in a different body or as a different species.

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