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REDWOOD CITY, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) accepted for review the company’s New Drug Application (NDA) for daraxonrasib, an oral RAS(ON) multi-selective inhibitor, for previously treated metastatic pancreatic ductal adenocarcinoma (PDAC).

“The FDA’s acceptance of the daraxonrasib NDA is an important step in the regulatory review process and brings us closer to the possibility of offering patients a new targeted medicine for previously treated metastatic pancreatic cancer,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “Daraxonrasib is an oral targeted medicine designed to inhibit RAS, the main cause of pancreatic cancer, and the application is supported by unprecedented results from the Phase 3 RASolute 302 trial. These findings underscore the potential for daraxonrasib to become a new standard of care and to help define a new class of RAS‑targeted medicines for this disease. We look forward to continuing to work closely with the FDA as the agency reviews the application, and with other global regulatory authorities as we advance our efforts to bring daraxonrasib to patients as quickly as possible.”

The NDA is based on results from the global, randomized Phase 3 RASolute 302 trial, evaluating daraxonrasib versus standard of care cytotoxic chemotherapy in patients with previously treated metastatic PDAC, with or without an identified tumor RAS mutation. The trial met all primary and key secondary endpoints, including unprecedented improvements in overall survival and progression-free survival. In addition, daraxonrasib exhibited a manageable safety profile and patients treated with daraxonrasib reported significantly delayed deterioration in cancer-related pain, overall global health status and quality of life, compared to those treated with chemotherapy. Results from the RASolute 302 trial were presented at the 2026 American Society of Clinical Oncology Annual Meeting with simultaneous publication in The New England Journal of Medicine.

Daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is designed to accelerate the review of medicines that address key national health priorities. The FDA previously granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic PDAC.

The Company recently announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use has begun a phased review of daraxonrasib, allowing data to be evaluated as they become available before submission of a full marketing authorization application. Daraxonrasib has also received orphan medicine designation for the treatment of pancreatic cancer, and high-priority status under EMA’s Cancer Medicines Pathfinder project based on its potential to address a significant unmet need.

About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma

Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people will be diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1 Due to the lack of early symptoms and detection methods, most patients are diagnosed with pancreatic ductal adenocarcinoma (PDAC) at an advanced or metastatic stage. Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.2,3

About Daraxonrasib

Daraxonrasib is an investigational, oral RAS(ON) multi-selective, noncovalent tri-complex inhibitor that works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors. It is designed to target cancers driven by a broad range of common RAS genotypes, including pancreatic ductal adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.

About the RASolute 302 Clinical Trial

RASolute 302 (NCT06625320) is a global, randomized Phase 3 registrational clinical trial designed to evaluate the efficacy and safety of daraxonrasib as a monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). In the trial, patients were randomized to receive either an oral dose of 300 mg daraxonrasib once daily or investigator’s choice of four different cytotoxic chemotherapy regimens, which represent standard of care across the globe. The trial enrolled patients with metastatic PDAC harboring a wide range of RAS variants, including those with RAS G12 mutations (such as G12D, G12V, and G12R), as well as patients without an identified tumor RAS mutation (wild type).

The primary endpoints of the RASolute 302 trial were progression-free survival (PFS), as assessed by a Blinded Independent Central Review according to RECIST 1.1, and overall survival (OS) in patients with tumors harboring RAS G12 mutations. Secondary endpoints included PFS and OS in all enrolled patients (the intent-to-treat population) encompassing patients with and without identified tumor RAS mutations, as well as objective response rate, duration of response, and patient-reported quality of life.

About Revolution Medicines, Inc.

Revolution Medicines is a company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the broad potential of RAS(ON) inhibition and the potential for a new class of RAS-targeted therapy to emerge; treatment practices for pancreatic cancer and the potential for daraxonrasib to become a standard of care; the company’s regulatory interactions; the company’s ability to bring daraxonrasib to patients; and progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied.

Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," "estimate," "expect," "plan," “potential,” “project,” “up to,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]   

References
1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2 Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
3 American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed July 2026.

Posted by Defense World Staff on Jul 21st, 2026

Bessemer Group Inc. reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 59.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,062 shares of the company’s stock after selling 69,600 shares during the period. Bessemer Group Inc.’s holdings in Revolution Medicines were worth $4,675,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RVMD. Vanguard Group Inc. boosted its stake in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revolution Medicines by 194.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares in the last quarter. Mass General Brigham Inc bought a new position in shares of Revolution Medicines in the fourth quarter valued at about $27,407,000. Eagle Health Investments LP acquired a new position in Revolution Medicines during the 4th quarter worth about $9,231,000. Finally, M&T Bank Corp acquired a new position in Revolution Medicines during the 4th quarter worth about $52,723,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets RVMD has been the topic of a number of research analyst reports. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Truist Financial upped their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.06.

Get Our Latest Research Report on RVMD

Insider Activity In other news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This trade represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 132,497 shares of company stock valued at $21,470,486. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Down 3.1% NASDAQ:RVMD opened at $180.39 on Tuesday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The stock’s fifty day simple moving average is $165.80 and its 200-day simple moving average is $129.09. The firm has a market capitalization of $38.35 billion, a P/E ratio of -25.51 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

About Revolution Medicines (Free Report)

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.

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The S&P 500 is up 10.3% YTD, and Wall Street is convinced the markets have more room to run, particularly for this group of stocks we have uncovered. JPMorgan just tagged CECO Environmental (NASDAQ:CECO) with a $130 price target, implying roughly 65% upside from where the stock closed Friday. Bigger and more interesting calls landed on other desks this week. Here are the five names sell-side desks are pounding the table on right now, ranked by conviction and catalyst timing.

1. Perimeter Solutions: The Fire Retardant Monopoly Nobody Talks About Start with the name most portfolios do not own. Perimeter Solutions (NYSE:PRM) makes the red fire retardant dumped from tanker planes onto wildfires, and it is effectively the only US supplier of scale. JPMorgan initiated coverage at Overweight with a $50 price target representing roughly 50% upside, calling it a “niche market leader” with a “disciplined M&A playbook proving portable beyond fire.” Translation: the government has to buy from them, and they just bought a second monopoly.

The Medical Manufacturing Technologies (MMT) acquisition, a $685 million bolt-on deal that closed in January, drove Specialty Products revenue up 128% to $79.6 million in Q1. Fire Safety alone grew 22% to $45.5 million and adjusted EBITDA jumped 128% to $41.2 million. Meanwhile, management signed fresh five-year contracts with the US Defense Logistics Agency and the California Department of Forestry in April. Total Q1 revenue of $125.07 million was up 73.6% year over year, with EPS of $0.06 surpassing the $0.02 estimate.

The surprise pick has government contracts, monopoly pricing, and a 50% analyst target sitting on top of an already M&A-supercharged quarter. Now for the heavyweight everyone is chasing.

2. CECO Environmental: The AI Data Center Pick Hiding in Industrials CECO is the classic “why did I not own this” call. The company sells industrial air, water, and energy transition equipment, and it is suddenly ground zero for AI-driven data center power buildout. JPMorgan’s $130 target is built on the recently announced Thermon acquisition, which the desk calls “transformative,” lifting recurring short-cycle revenue to about 40% of the mix and effectively doubling adjusted EBITDA. Independent 2026 outlooks peg data center equipment growth as roughly 25% annually and “essentially locked in for the next four to five years,” and CECO sits directly in that revenue stream.

The company’s Q1 numbers already reflect the shift. Orders exploded 97% year over year to $449.5 million, while backlog “eclipsed” $1.04 billion, up 72%. Management raised FY26 guidance to a range of $940 million to $1 billion in revenue with adjusted EBITDA of $120 million to $140 million. CEO Todd Gleason called out data centers, AI computing, industrial reshoring, and electrification as the demand stack driving orders: April alone delivered more than $450 million in new bookings, including the largest-ever Natural Gas Power order.

Shares have advanced 175.4% over the past year, which means the $130 call is a bet that the multi-year AI power cycle is nowhere near priced in. The next name pays you regardless of what the AI trade does.

3. Ligand Pharmaceuticals: The Royalty Compounder Wall Street Just Repriced Ligand Pharmaceuticals (NASDAQ:LGND) owns royalty streams on other companies’ drugs rather than selling its own. Bank of America just raised its target to $388 from $266, a 46% increase, arguing the growth story is still underappreciated even after the run. The catalyst: Ligand’s pending acquisition of XOMA Royalty at $39 per share, closing in Q3 2026, which folds in more than 120 commercial, clinical, and preclinical assets including Vabysmo, Ojemda, and Miplyffa.

The engine underneath is already humming. Q1 royalty revenue climbed 56% year over year, coming in at $43 million, and adjusted EPS came in at $1.63. Filspari, now the largest royalty contributor after receiving full FDA approval in focal segmental glomerulosclerosis, posted 88% year-over-year growth to $105 million in US net product sales. Management reaffirmed FY26 guidance of $270 million to $310 million in total revenue and adjusted EPS per diluted share of $8.50 to $9.50.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Toast didn't make the cut. Grab the names FREE today.

The stock is already up 67.26% year to date, and BofA is telling you that is still cheap. To keep things interesting, the next pick is the exact opposite setup: a stock that has been left for dead.

4. Toast: The Comeback Trade Goldman Just Called Toast (NYSE:TOST | TOST Price Prediction), a digital tech platform for restaurants, has gotten crushed. Shares are down 34.1% over the past year on competitive fears in SMB payments and margin pressure from hardware. Goldman Sachs looked at the wreckage and upgraded to Buy with a $36 target, arguing the reset is done and the AI product cycle is starting. If you want the trade of Wall Street’s greatest hits, the Breakout Buyer’s Rulebook is where these bounce setups get pressure-tested.

The Q1 report was better than the stock chart suggests. Revenue grew 21.9% year over year to $1.63 billion, net income doubled to $126 million, and ARR crossed $2.2 billion, up 26%. Toast added about 7,000 net new locations, bringing the total to roughly 171,000, and launched its first AI agent dubbed Toast IQ Grow. Management raised FY26 adjusted EBITDA guidance to $790 million to $810 million. The company also bought back $378 million in stock through May 6 in an attempt to return value to shareholders.

CEO Aman Narang says the platform can scale to “$5 billion and $10 billion in ARR over the next decade.” The last name on this list is playing for a bigger number in a shorter window.

5. Revolution Medicines: The Binary Payoff Wall Street Cannot Stop Talking About Save the biggest swing for last. Revolution Medicines (NASDAQ:RVMD) just posted Phase 3 data in previously treated metastatic pancreatic cancer that could reset expectations for one of oncology’s toughest markets. Its lead oncology candidate, daraxonrasib, delivered median overall survival of 13.2 months versus 6.7 months for chemotherapy in the overall study population, with a hazard ratio of 0.40 and p<0.0001. Management plans to submit the data to the FDA as part of a future New Drug Application under the Commissioner’s National Priority Voucher program.

The setup around the filing is loaded. Revolution raised roughly $2.1 billion in net proceeds from April financings, leaving it with about $4 billion in pro forma cash to support launch preparation and a wider RAS(ON) pipeline. The company has four clinical-stage RAS(ON) inhibitors in development, with multiple registrational Phase 3 trials advancing across pancreatic cancer and lung cancer.

Wall Street has piled in, with analyst coverage overwhelmingly bullish and few skeptics left on the sidelines. The stock has climbed sharply, up more than 130% year to date and roughly 385% over the past year, turning Revolution into one of biotech’s biggest swing stories of 2026.

The Thread Five names, five different catalysts, one pattern: every call sits on a hard-dated 2026 event. PRM’s MMT integration and government contracts. CECO’s Thermon close and AI power backlog. Ligand’s XOMA acquisition and Filspari ramp. Toast’s raised guidance and AI product cycle. Revolution’s FDA submission on Phase 3 pancreatic cancer data. Wait for the next earnings cycle and these setups will already have moved.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Toast didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Phased review by EMA aims to accelerate assessment of company's investigational drug daraxonrasib in pancreatic cancer based on unprecedented clinical results from pivotal Phase 3 RASolute 302 trial
Rolling submission of NDA for daraxonrasib to U.S. FDA under Commissioner’s National Priority Voucher pilot program nearing completion
REDWOOD CITY, Calif., July 07, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has started a phased review of data on daraxonrasib, the company's investigational RAS(ON) multi-selective inhibitor. A phased review aims to accelerate the assessment of a medicine by evaluating the data in phases as they become available, ahead of the submission of a full marketing authorization application. Daraxonrasib was designated by the EMA as an orphan medicinal product for the treatment of pancreatic cancer and has been recognized as a high priority under EMA’s Cancer Medicines Pathfinder project based on its potential to address a high unmet medical need.

In addition, the company continues to make significant progress on its rolling submission of a New Drug Application (NDA) for daraxonrasib to the U.S. Food and Drug Administration (FDA) under the Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.

“As our rolling submission of an NDA to the FDA nears completion, we are encouraged by the strong engagement we've received from health authorities around the world,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “The EMA's decision to include daraxonrasib in its new phased review process is an important step toward making this medicine available to patients globally as quickly as possible. We believe this milestone underscores both the significant unmet medical need in pancreatic cancer and the potential of daraxonrasib to address that need.”

The company continues to engage in discussions with regulatory authorities around the world as it prepares for submissions in additional territories. The ongoing FDA review and planned regulatory submissions in other territories are supported by the positive results from the pivotal Phase 3 RASolute 302 trial, which demonstrated unprecedented improvements in overall survival and progression-free survival compared to standard of care cytotoxic chemotherapy in patients with previously treated metastatic PDAC, with or without an identified tumor RAS mutation. In the trial, daraxonrasib exhibited a manageable safety profile and patients treated with daraxonrasib reported significantly delayed deterioration in cancer-related pain, overall global health status and quality of life, compared to those treated with chemotherapy.

About Daraxonrasib

Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent tri-complex inhibitor. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.

Daraxonrasib is designed to target cancers driven by a broad range of common RAS mutations, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.

Daraxonrasib works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.

About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma

Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. Pancreatic ductal adenocarcinoma, or PDAC, is the most common form of pancreatic cancer.1

Due to the lack of early symptoms and detection methods, approximately 80% of patients are diagnosed with PDAC at an advanced or metastatic stage. PDAC is the most commonly RAS-driven malignancy of all major cancers, with more than 90% of patients having tumors that harbor RAS mutations.2 Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.3, 4

About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied; the company’s regulatory strategy and the timing, status and progress of any regulatory submissions; discussions with regulatory agencies including the EMA and FDA; and the potential for daraxonrasib to address unmet medical needs.

Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," “continues,” “intend,” “nears,” "plan," “potential,” and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]

1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2 Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z.
3 Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
4 American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed March 2026.

REDWOOD CITY, Calif., July 02, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced results from two Phase 1/2 clinical trials evaluating zoldonrasib, its oral RAS(ON) G12D-selective covalent inhibitor, in combination regimens for patients with RAS G12D metastatic pancreatic ductal adenocarcinoma (PDAC). The results, which will be presented today in a proffered paper session at the 2026 European Society for Medical Oncology (ESMO) Gastrointestinal Cancers Congress, include zoldonrasib in combination with standard of care chemotherapy in previously untreated patients and zoldonrasib in combination with daraxonrasib, the company’s oral RAS(ON) multi-selective inhibitor, in previously treated patients.

“The Phase 3 RASolute 302 results provided clinical validation of RAS(ON) inhibition with daraxonrasib in second line metastatic pancreatic cancer and established a strong foundation for evaluating this therapeutic approach across additional RAS genotypes, treatment settings and combination strategies. The results presented at ESMO GI demonstrate compelling proof-of-concept for two zoldonrasib-based regimens in RAS G12D disease: combination with standard of care chemotherapy in previously untreated patients and a RAS(ON) inhibitor doublet with daraxonrasib in previously treated patients. Together, these findings are the foundation of two distinct Phase 3 strategies we are pursuing in previously untreated metastatic RAS G12D pancreatic cancer: the ongoing RASolute 305 trial evaluating zoldonrasib plus standard of care chemotherapy, and the planned RASolute 309 trial evaluating the combination of zoldonrasib plus daraxonrasib,” said Alan Sandler, M.D., chief development officer of Revolution Medicines.

Safety and Efficacy of Zoldonrasib Plus Chemotherapy in Patients with First Line RAS G12D Metastatic Pancreatic Cancer (Abstract #340O)

RMC-GI-102 (NCT06445062) is an ongoing Phase 1/2 trial evaluating zoldonrasib 1200 mg once daily in combination with investigator's choice of standard of care chemotherapy in patients with previously untreated metastatic RAS G12D PDAC. Investigator's choice of chemotherapy includes modified FOLFIRINOX (mFFX) or gemcitabine plus nab-paclitaxel (GnP). As of the February 8, 2026 data cutoff, the trial enrolled 41 patients in the zoldonrasib plus mFFX arm and 40 patients in the zoldonrasib plus GnP arm.

Zoldonrasib demonstrated a manageable safety and tolerability profile in combination with standard chemotherapy. The safety profile of zoldonrasib in combination with chemotherapy was broadly consistent with the established profiles of each respective chemotherapy regimen. Grade 3 or greater treatment-related adverse events (TRAEs) occurred in 61% of patients who received the zoldonrasib plus mFFX and 80% of patients who received zoldonrasib plus GnP. The most common Grade 3 or greater TRAEs with zoldonrasib plus mFFX were decreased neutrophil count (37%), anemia (12%), and platelet count decreased (7%). The most common Grade 3 or greater TRAEs with zoldonrasib plus GnP were decreased neutrophil count (35%), anemia (28%), and fatigue (25%). No Grade 5 TRAEs were reported in either arm. The mean dose intensity was 86% with zoldonrasib plus mFFX and 90% with the zoldonrasib plus GnP.

In the trial, zoldonrasib with chemotherapy showed compelling antitumor activity, with an objective response rate (ORR) of 82% (95% confidence interval [CI]: 60, 95) and disease control rate (DCR) of 96% (95% CI: 77, 100) in the mFFX population, and an ORR of 61% (95% CI: 42, 78) and DCR of 90% (95% CI: 74, 98) in the GnP population.

These preliminary safety and clinical activity data support the ongoing RASolute 305 pivotal trial (NCT07621718), a global, randomized, double-blind placebo-controlled Phase 3 clinical trial evaluating zoldonrasib plus investigator’s choice of standard of care chemotherapy compared with placebo plus investigator’s choice of chemotherapy in patients with previously untreated metastatic RAS G12D PDAC.

Safety and Efficacy of Zoldonrasib Plus Daraxonrasib in Patients with Second Line-Plus RAS G12D Metastatic Pancreatic Cancer (Abstract #341O)

RMC-9805-001 (NCT06040541) is a Phase 1 trial evaluating zoldonrasib 1200 mg once daily plus daraxonrasib 300 mg once daily in advanced solid tumors with RAS G12D mutations. As of the February 9, 2026 data cutoff, 60 patients with RAS G12D metastatic PDAC who had previously received one or more prior lines of therapy were treated with the combination.

Zoldonrasib plus daraxonrasib demonstrated a manageable safety and tolerability profile that was broadly consistent with the established profile of daraxonrasib monotherapy. Grade 3 or greater TRAEs occurred in 35% of patients who received the combination. Among TRAEs occurring in 10% or more of all patients, the most common Grade 3 or greater events were rash (12%), anemia (10%), and stomatitis/mucositis (7%). Few patients discontinued due to TRAES; 2% discontinued zoldonrasib and 5% discontinued daraxonrasib. The mean dose intensity was 88% for zoldonrasib and 76% for daraxonrasib.

The zoldonrasib plus daraxonrasib combination demonstrated compelling antitumor activity in patients with previously treated metastatic PDAC. In the second line cohort (2L) (N=30), the ORR was 50% (95% CI: 31–69) and DCR was 97% (95% CI: 83–100). Median progression-free survival (PFS) in the 2L cohort was 9.6 months (95% CI: 7.1–NE), with a 6-month PFS rate of 71%. Median overall survival (OS) in the 2L cohort was not yet estimable, with a 6-month OS rate of 89%. In the third line and beyond (3L+) cohort (N=30), the ORR was 47% (95% CI: 28–66) and DCR was 90% (95% CI: 74–98). Median PFS in the 3L+ cohort was 7.6 months (95% CI: 4.6–10.5), with a 6-month PFS rate of 59%. Median OS in the 3L+ cohort was 10.5 months (95% CI: 6.7–NE), with a 6-month OS rate of 82%.

These safety and clinical activity data support the planned pivotal global, Phase 3 RASolute 309 clinical trial of zoldonrasib plus daraxonrasib versus GnP in patients with previously untreated RAS G12D metastatic PDAC.

About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. Pancreatic ductal adenocarcinoma, or PDAC, is the most common form of pancreatic cancer. Due to the lack of early symptoms and effective detection methods, approximately 80% of patients are diagnosed with advanced or metastatic disease. PDAC is the most commonly RAS-driven malignancy of all major cancers, with more than 90% of patients having tumors that harbor RAS mutations.1 RAS G12D is the most prevalent RAS mutation subtype in PDAC, occurring in 40% of patients, and has been associated with poorer outcomes than RAS wild-type disease and certain other RAS-mutant subgroups.1-4

About Zoldonrasib
Zoldonrasib is an investigational, oral RAS(ON) G12D-selective covalent tri-complex inhibitor. RAS G12D is the most prevalent RAS mutation, accounting for 29% of all RAS cancers.1 Across tumor types, approximately 61,000 new patients with RAS G12D cancers are estimated each year in the U.S., and no targeted therapy is currently approved for these patients.5 Zoldonrasib is currently being evaluated as a monotherapy and in combination with other therapies, including with Revolution Medicines’ RAS(ON) multi-selective inhibitor daraxonrasib (RMC-6236), as well as standard of care regimens in lung and gastrointestinal cancers.

About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent tri-complex inhibitor. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.

Daraxonrasib is designed to target cancers driven by a broad range of common RAS genotypes, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.

About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding our development strategy, including in RAS G12D pancreatic cancer; the potential of our product candidates for RAS(ON) inhibition, including in pancreatic cancer; the ability of daraxonrasib or zoldonrasib to improve patient outcomes; planned and ongoing clinical studies; and potential efficacy of the company’s product candidates being studied.

Forward-looking statements are typically, but not always, identified by the use of words such as “anticipate,” "estimate," "plan," “potential,” “proof-of-concept,” “pursuing,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Annual Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]

References

1 Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z
2 Yousef, A., Yousef, M., Chowdhury, S. et al. Impact of KRAS mutations and co-mutations on clinical outcomes in pancreatic ductal adenocarcinoma. NPJ Precis Oncol. 2024;8:27. https://doi.org/10.1038/s41698-024-00505-0
3 Qian ZR, Rubinson DA, Nowak JA, et al. Association of Alterations in Main Driver Genes With Outcomes of Patients With Resected Pancreatic Ductal Adenocarcinoma. JAMA Oncol. 2018;4(3):e173420. doi:10.1001/jamaoncol.2017.3420
4 Norton C, Shaw MS, Rubnitz Z, et al. KRAS Mutation Status and Treatment Outcomes in Patients With Metastatic Pancreatic Adenocarcinoma. JAMA Netw Open. 2025;8(1):e2453588. doi:10.1001/jamanetworkopen.2024.53588
5 Estimated using tumor mutation frequencies from Foundation Medicine Insights March 2022 and scaled to estimated patient numbers using cancer incidence from ACS Cancer Facts and Figures 2023.

REDWOOD CITY, Calif., June 24, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that four oral and poster presentations highlighting data from its RAS(ON) pipeline will be featured at the 2026 European Society for Medical Oncology (ESMO) Gastrointestinal Cancers Congress, taking place July 1–4, 2026 in Munich, Germany.

The program will include two oral presentations from Phase 1/2 trials evaluating zoldonrasib, an oral RAS(ON) G12D-selective covalent inhibitor, in combination regimens for patients with metastatic RAS G12D pancreatic ductal adenocarcinoma (PDAC). These presentations will report results from zoldonrasib plus chemotherapy in the first line setting, and zoldonrasib plus daraxonrasib, the company’s oral RAS(ON) multi-selective inhibitor, in patients who had received one or more prior lines of therapy.

Additional presentations will include two Phase 3 trials-in-progress posters for RASolute 303, evaluating daraxonrasib as a monotherapy or in combination with gemcitabine and nab-paclitaxel versus standard of care gemcitabine and nab-paclitaxel as a first line treatment for patients with metastatic PDAC, and RASolute 304, evaluating adjuvant daraxonrasib in patients with PDAC who have undergone resection and completed perioperative chemotherapy.

Details of Revolution Medicines’ presentations are listed below.

Revolution Medicines Oral Presentations:

Title:Safety and Efficacy of Zoldonrasib (RMC-9805) Plus Daraxonrasib (RMC-6236) in Patients with 2L+ KRAS G12D Metastatic Pancreatic Adenocarcinoma (mPDAC)Abstract:#341OPresenter:Nilofer Azad, M.D., Johns Hopkins Sidney Kimmel Comprehensive Cancer CenterSession:Proffered Paper SessionDate/Time:July 2; 2:50 p.m. – 3:00 p.m. CEST   Revolution Medicines Posters:

Title:RASolute 304 – A Phase 3 Multicenter, Open-label, Randomized Study of Adjuvant Daraxonrasib Versus Observation Following Completion of Neoadjuvant and/or Adjuvant Chemotherapy in Patients With Resected Pancreatic Adenocarcinoma (PDAC)Abstract:#472TiPPresenter:Michel Ducreux, M.D., Ph.D., Institut Gustave RoussySession:Upper Digestive – Biliary, ampullary and pancreatic cancerDate/Time:July 3; 3:30 p.m. – 4:30 p.m. CEST   About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied.

Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," "estimate," "expect," "plan," “potential,” “project,” “up to,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact: 
[email protected]  
[email protected] 

Key Takeaways Revolution Medicines initiated phase III RASolute 305 in first-line metastatic RAS G12D PDAC.The study compares zoldonrasib plus chemotherapy against placebo plus standard chemotherapy.Co-primary endpoints are PFS and OS, with safety, efficacy and quality-of-life measures assessed. Revolution Medicines (RVMD - Free Report) announced that it has begun treating patients in the phase III RASolute 305 study, evaluating its pipeline candidate zoldonrasib in combination with chemotherapy in first-line metastatic RAS G12D pancreatic ductal adenocarcinoma (PDAC).

Zoldonrasib is RVMD’s investigational oral RAS(ON) G12D-selective inhibitor designed to suppress the active RAS G12D mutation, one of the most common oncogenic drivers across cancers. As no approved targeted therapies currently exist for RAS G12D-mutated tumors, the candidate represents a potentially significant treatment opportunity. Per management, zoldonrasib has shown encouraging antitumor activity and a favorable safety profile in early clinical studies.

Year to date, RVMD shares have skyrocketed 112.9% against the industry’s 0.1% decline.

Image Source: Zacks Investment Research

RVMD’s RASolute 305 Study Design & Key EndpointsIn the global late-stage RASolute 305 study, the participants are being given either zoldonrasib plus investigator-selected standard-of-care chemotherapy or placebo plus chemotherapy. Chemotherapy options include modified FOLFIRINOX or the combination of gemcitabine and nab-paclitaxel, both established frontline treatment regimens for metastatic pancreatic cancer.

The study’s co-primary endpoints are progression-free survival (PFS) and overall survival (OS). Secondary endpoints include additional measures such as antitumor efficacy, safety, tolerability and patient-reported outcomes assessing quality of life.

The study is designed to evaluate whether combining zoldonrasib with frontline chemotherapy can improve survival outcomes for patients with metastatic RAS G12D PDAC.

Pancreatic ductal adenocarcinoma, the most common form of pancreatic cancer, is often diagnosed at an advanced stage due to limited early symptoms and detection options. More than 90% of PDAC tumors harbor RAS mutations, with RAS G12D present in about 40% of patients and associated with particularly poor outcomes. Metastatic PDAC remains one of the deadliest cancers in the United States, with a five-year survival rate of around 3%.

Beyond pancreatic cancer, Zoldonrasib is being evaluated both as a standalone therapy and in combination with other treatments, including daraxonrasib and standard-of-care regimens, across multiple lung and gastrointestinal cancer indications.

RVMD Expands Late-Stage Presence in Metastatic PDACRevolution Medicines is advancing a broad pancreatic cancer portfolio built around its proprietary RAS(ON) inhibitor platform. The company's strategy spans both previously treated and first-line metastatic PDAC. In addition to the late-stage RASolute 305 study evaluating zoldonrasib in metastatic RAS G12D PDAC, the company is developing its lead pipeline candidate daraxonrasib in the ongoing phase III RASolute 303 study, as a monotherapy and in combination with chemotherapy for the first-line treatment of metastatic PDAC.

In April, the company announced positive top-line data from the phase III RASolute 302 study, which evaluated daraxonrasib, in previously treated metastatic PDAC patients. The study successfully met its primary endpoints, demonstrating significant improvements in both OS and PFS versus standard chemotherapy.

RVMD's Zacks Rank & Stocks to ConsiderRevolution Medicines currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) , Liquidia Corporation (LQDA - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 30 days, earnings per share estimates for Indivior Pharmaceuticals remained unchanged at $4.05 for 2026 and $4.27 for 2027. INDV shares have risen 11.3% year to date.

Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.

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Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 30 days, earnings per share estimates for Immunocore’s 2026 were unchanged at 6 cents for 2026 and 87 cents for 2027. IMCR shares have lost 16% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.

Daraxonrasib demonstrated unprecedented survival benefit in Phase 3 RASolute 302 trial in previously treated metastatic pancreatic cancer; detailed results will be presented in upcoming ASCO Plenary presentation RASolute 302 data planned for submission to global regulatory authorities, including the U.S. Food and Drug Administration AACR 2026 presentations reinforce the breadth and strength of company's RAS(ON) portfolio, highlighting continued progress and novel approaches to RAS(ON) inhibition Strengthened financial position with financings totaling $2.2 billion in gross proceeds Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif.

REDWOOD CITY, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that The New England Journal of Medicine (NEJM) has published a report describing data from the Phase 1/2 clinical trial evaluating daraxonrasib, a RAS(ON) multi-selective inhibitor, in patients with previously treated metastatic RAS mutant pancreatic ductal adenocarcinoma (PDAC). The promising Phase 1/2 findings provided important insights supporting initiation of the company’s global, randomized Phase 3 registrational trial, RASolute 302. Revolution Medicines recently announced positive topline results from the RASolute 302 clinical trial showing an unprecedented overall survival benefit with daraxonrasib compared to standard of care cytotoxic chemotherapy, consistent with the Phase 1/2 single-arm observations.

“RAS mutations are a central driver of disease across multiple solid tumors, including particularly pancreatic ductal adenocarcinoma. There is significant room for improvement in outcomes over current standard of care -- cytotoxic chemotherapies that are not targeted to these underlying RAS cancer drivers,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “Data from the Phase 1/2 trial show that daraxonrasib demonstrated promising clinical antitumor activity and durable responses, with an acceptable safety and tolerability profile, in patients with previously treated metastatic RAS mutant PDAC. These results, along with those from our Phase 3 trial, RASolute 302, strengthen our confidence in daraxonrasib’s potential to establish an important new treatment option for patients with pancreatic cancer and other RAS-addicted cancers.”

The data published in NEJM reflect outcomes in the PDAC cohort from the RMC-6236-001 trial (NCT05379985), an open-label, multicenter Phase 1/2 trial evaluating daraxonrasib monotherapy in patients previously treated for metastatic solid tumors harboring RAS mutations.

In addition to RASolute 302, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC in earlier treatment lines and those with metastatic RAS mutant non-small cell lung cancer.

About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people are diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1

Due to the lack of early symptoms and detection methods, approximately 80% of patients are diagnosed with PDAC at an advanced or metastatic stage. It is the most common RAS-addicted malignancy of all major cancers, and more than 90% of patients have tumors that harbor RAS mutations.2 Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.3,4

About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent inhibitor that is not approved by any regulatory authority, including in the United States or Europe. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.

Daraxonrasib is designed to target cancers driven by a broad range of common RAS mutations, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. In addition to the RASolute 302 trial, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC and metastatic RAS mutant NSCLC.

Daraxonrasib works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.

About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding progression of clinical studies and findings from these studies, including the safety, tolerability and antitumor activity of the company’s candidates being studied and the durability of these results; dosing and enrollment in the company’s clinical trials; the company’s expectations regarding from clinical trials; and the potential of daraxonrasib to estalish a new treatment option for patients with pancreatic cancer or other RAS-addicted cancers. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ current stage of development, the process of designing and conducting preclinical and clinical trials, risks that the results of prior clinical trials may not be predictive of future clinical trials, clinical efficacy, or other future results, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on November 5, 2025, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]

____________________

1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820

2Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z.

3Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014

4American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed May 2026.

SummaryCompaniesFDA allows expanded access to Revolution Medicines' experimental pancreatic cancer drugOncologists face logistical hurdles and resource strain to enroll patients in early access programDrug targets mutation that occurs in 90% of pancreatic cancersMay 14 (Reuters) - U.S. cancer centers are scrambling to enroll patients in an early access program for a highly promising pancreatic cancer ​drug from Revolution Medicines (RVMD.O), opens new tab while they await what they hope will be a speedy FDA approval.

The Food and Drug Administration allowed the expanded access program on May 1, ‌less than three weeks after Revolution said the once-daily pill, daraxonrasib, doubled survival in a clinical trial of patients with advanced pancreatic cancer, among the deadliest of cancers with one of the lowest 5-year survival rates.

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The company had asked the FDA for permission to make it available free-of-charge for patients with previously treated pancreatic cancer that has spread to other parts of the body.

"The public caught wind of the FDA announcement... which has triggered a deluge of patient requests," ​said Dr. Daniel King, medical oncologist at the Zuckerberg Cancer Center of Northwell Health. "Cancer centers are all figuring out how to engage with our own institutions, opening up the protocols ​to provide access."

Oncologists said getting approval and managing the expanded access program will take time and require cancer centers to dedicate substantial resources outside of ⁠their usual operations.

The drug was one of the first products accepted by the FDA last year for its new expedited review process, and could potentially get approval a month or two after a complete ​application is filed.

Revolution Medicines CEO Mark Goldsmith, speaking on a conference call last week, did not give a time frame for a full FDA submission. "There's a full-throttle effort to do it," he said.

The Redwood ​City, California-based company said it has already experienced high demand for the drug and expects it to remain high throughout the early-access program.

"We are actively supporting physicians through this process with safe, compliant, and rapid patient access as our top priority," Revolution said in a statement.

"All requests must be initiated by a licensed treating physician and reviewed by an institutional review board," the company said, adding that it expects to be able to respond to requests ​from physicians within two business days of receipt.

A BREAKTHROUGH TO BUILD ONFormer Nebraska U.S. Senator Ben Sasse recently revealed that he has Stage 4 pancreatic cancer and told the CBS news program "60 Minutes" that ​he is taking the Revolution drug.

The drug, which targets a genetic mutation found in about 90% of pancreatic cancers, was shown in a clinical trial to extend median survival to 13.2 months compared with 6.7 months for patients ‌on chemotherapy.

"Doubling ⁠survival compared to best available chemotherapy is a big deal," said Dr. Gulam Manji, co-director of the pancreas center at Columbia/New York-Presbyterian. "It is not a cure, but I think that this drug is a new breakthrough we can build on."

In a 10-year career, Manji could recall seeking compassionate use of an experimental drug for just one other patient. On a recent day in the clinic, the Columbia oncologist said seven patients asked him about starting treatment with daraxonrasib.

Getting them access is not as simple as writing a prescription for an FDA-approved drug, he and other cancer specialists said.

"Patients are already aware of the ​press release and are already calling," said Dr. ​Vincent Chung, pancreas cancer specialist at City ⁠of Hope. "The challenge now is how to proceed."

The program requires physicians to submit requests for each individual patient to Revolution Medicines, Chung said, and if the company decides they are a good candidate, all those details then need to be submitted to the FDA. Hospital monitoring boards will need to ​follow the patients.

"Given the volume, I am not sure what will happen on the FDA side. I'm sure they don't want to have 10,000 ​applications at once," Chung said, ⁠adding that the agency may instead set up a more general enrollment protocol.

Manji said his understanding is that cancer centers will not be required to collect detailed data on patients treated under the expanded access program, but will need to report serious side effects or other issues.

The FDA did not respond to a request for comment. The expedited voucher program was touted as a signature achievement by Dr. Marty Makary, who resigned ⁠as FDA Commissioner ​on Tuesday after weeks of clashes with Trump administration officials.

Around 67,000 people in the United States will be diagnosed, opens new tab with pancreatic ​cancer this year, and 53,000 will die of the disease, according to the American Cancer Society.

"We are doing this as a service to our patients," Chung said. "I'm hoping of course that the FDA is going to review the data and then ​there is an approval much sooner than is typical."

Reporting By Deena Beasley in Los Angeles and Nancy Lapid in Tucson; additional reporting by Julie Steenhuysen in Chicago; editing by Caroline Humer and Bill Berkrot

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Nancy has been a health news reporter and editor at Reuters for more than a decade, covering important medical research advances. She is the author of our twice-a-week Reuters Health Rounds newsletter.

GraniteShares has filed with the U.S. Securities and Exchange Commission to launch three new leveraged single-stock ETFs tied to high-volatility themes spanning nuclear energy, AI infrastructure and biotech.

• What’s going on with XE stock today?

The filing introduces the GraniteShares 2x Long XE Daily ETF, GraniteShares 2x Long MAIR Daily ETF and GraniteShares 2x Long RVMD Daily ETF, each designed to deliver 200% of the daily performance of their respective underlying stocks.

The filing highlights how issuers continue expanding beyond leveraged funds tied to mega-cap names such as Nvidia and Tesla, moving deeper into speculative and momentum-driven corners of the market.

GraniteShares also emphasized that the products are intended primarily for sophisticated investors and active traders capable of monitoring positions daily, underscoring the growing risks associated with leveraged single-stock products as retail demand for high-beta trades remains elevated.

Key Features Of The Proposed ETFs• Each fund seeks to provide 200% of the DAILY performance of its underlying stock.

• GraniteShares said the funds may use:

Swaps Deep in-the-money call options FLEX options Synthetic forwards Firect stock holdings •The issuer indicated swaps would likely serve as the primary mechanism for obtaining leveraged exposure.

• The filing says the funds are designed for active traders and investors who can monitor positions daily.

Ticker symbols have not been disclosed yet.

These ETFs arrive as markets lean harder into AI infrastructure expansion, nuclear power revival and biotech momentum trades, with data center energy demand and next-gen chip buildouts driving renewed interest in high-volatility thematic baskets. Leveraged single-stock products have also seen rising traction as traders increasingly rotate into "high-beta" expressions of structural themes rather than broad index exposure.

Photo: Shutterstock

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Expense ratios, yield, and sector breadth set these healthcare ETFs apart-see how their risk profiles and portfolio strategies compare.

Few cancers have proven as difficult to treat as pancreatic cancer, making any sign of a survival breakthrough a major event for both patients and investors.

Key Takeaways Revolution Medicines reported phase III data showing daraxonrasib cut death risk by 60% in PDAC.RVMD's daraxonrasib doubled median overall survival versus standard-of-care chemotherapy in the study.Revolution Medicines reported significant progression-free survival gains and a manageable safety profile. Shares of Revolution Medicines (RVMD - Free Report) were rising in pre-market today after the company reported full results from the phase III RASolute 302 study, which evaluated lead candidate daraxonrasib in previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC). These findings were also presented at the 2026 ASCO Annual Meeting yesterday and simultaneously published in the New England Journal of Medicine.

Though Revolution Medicines previously reported in April that the study met all primary and secondary endpoints based on interim analysis, the latest findings provide a more comprehensive look at the drug’s clinical benefit.

RVMD’s Detailed RASolute 302 Data Highlights Treatment AdvantageThe study enrolled a broad patient population, including those with diverse RAS mutations, particularly G12 variants, as well as those without identifiable RAS mutations. Participants were randomized to receive either 300 mg of oral daraxonrasib once daily or standard-of-care cytotoxic chemotherapy delivered intravenously. The primary endpoints included overall survival (OS) and progression-free survival (PFS) in patients with RAS G12-mutant tumors, while key secondary endpoints assessed these outcomes in the overall study population.

Across the RAS G12 population, daraxonrasib reduced the risk of death by 60% compared with standard chemotherapy and achieved a median OS of 13.2 months compared to 6.6 months for chemotherapy. The drug also demonstrated a significant benefit on PFS, with median PFS improving to 7.3 months from 3.5 months with chemotherapy.

Similar benefits were seen across the overall study population. Daraxonrasib reduced the risk of death by 60% and improved median OS to 13.2 months compared with 6.7 months for chemotherapy. Median PFS stood at 7.2 months for daraxonrasib versus 3.6 months with chemotherapy.

The drug was generally well-tolerated and demonstrated a manageable safety profile. Management noted that patients receiving daraxonrasib experienced meaningful improvements in patient-reported outcomes, including significant delays in the deterioration of cancer-related pain, overall global health status and quality of life.

Per Revolution Medicines, these findings strengthen daraxonrasib's potential to become a new treatment option for previously treated metastatic PDAC, a setting where effective therapies remain limited.

Based on the above data, the company intends to advance regulatory submissions globally. For the FDA submission, RVMD plans to use the Commissioner’s National Priority Voucher to significantly cut down the review period to just 1-2 months.

RVMD Stock’s Price PerformanceYear to date, the company’s shares have risen 98% compared with the industry’s nil growth.

Image Source: Zacks Investment Research

More on RVMD’s DaraxonrasibDaraxonrasib is designed to target a broad spectrum of RAS-driven cancers, including PDAC, non-small cell lung cancer (NSCLC) and colorectal cancer.

Apart from RASolute 302, Revolution Medicines is evaluating daraxonrasib for several other settings in PDAC. While the RASolute 303 study is assessing the drug for the first-line metastatic setting of the disease, the RASolute 304 study is evaluating its efficacy as an adjuvant therapy for patients with resectable PDAC.

Concerning NSCLC, the company is conducting the RASolve 301 study on daraxonrasib in patients with locally advanced or metastatic RAS-mutated NSCLC. It is on track to start a fifth late-stage study of the drug in the first-line NSCLC setting later this year.

To further strengthen its position in RAS-driven cancers, Revolution Medicines has established multiple clinical collaborations to evaluate daraxonrasib and its other RAS inhibitors in combination regimens. These partnerships include collaborations with Bristol Myers (BMY - Free Report) , Summit Therapeutics (SMMT - Free Report) and Tango Therapeutics (TNGX - Free Report) .

RVMD’s Zacks Rank

Revolution Medicines currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Revolution Medicines (RVMD +3.13%) looks unstoppable. The clinical-stage biotech company has been riding the wave of impressive clinical progress, sending its stock price up nearly 100% this year alone and about 285% over the past 12 months, as of this writing. The market clearly has high hopes for Revolution Medicines, but can the company live up to the expectations? Let's consider the bull and the bear case for this drugmaker.

The bull case: revolutionizing the cancer market Revolution Medicines focuses on developing drugs for RAS-addicted cancers. RAS is a family of proteins that act as molecular switches in controlling cell growth. They can be turned "on" or "off." In RAS-addicted cancers, mutations keep RAS stuck in the "on" position, and the cancer cells become dependent on that constant growth signal to proliferate. Revolution Medicines is targeting this category because it is a vast, high-unmet-need space. The company's targets include pancreatic cancer, colorectal cancer -- the second leading cause of cancer death in the world -- as well as the first on that list, lung cancer.

Image source: Getty Images.

Revolution Medicines may not have any products on the market, but its leading candidate, daraxonrasib, has already shown strong clinical trial results. In a phase 3 study that enrolled patients with previously treated metastatic pancreatic cancer, daraxonrasib posted an overall survival of 13.2 months, compared with 6.7 months for patients on chemotherapy. Being tested against the standard of care (not just against a placebo) in this study suggests that daraxonrasib could become the new standard of care in patients in this niche.

Revolution Medicines is running clinical trials for daraxonrasib in other indications, including a phase 3 study in non-small cell lung cancer (NSCLC). Revolution Medicines has other candidates as well. The company's zoldonrasib is being studied in NSCLC. Provided these candidates receive approval, Revolution Medicines could be looking at peak sales of well over $1 billion for both, if all goes well. For instance, some analysts predict that daraxonrasib could eventually generate $8.5 billion in revenue annually in the metastatic pancreatic cancer market alone. And if it earns approval across many other fields, it could peak at much higher levels than that. That's why the market is excited about Revolution Medicines' prospects.

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The bear case: What if something goes wrong? Revolution Medicines faces the same risks as other clinical-stage biotechs. The company generates no revenue and is consistently unprofitable. Clinical and regulatory setbacks with its leading candidate will sink the stock price. Further, Revolution Medicines is worth $33.6 billion. That's an almost unheard-of valuation for a clinical-stage biotech. By comparison, consider that Biogen, a well-established biotech company with a large drug portfolio and a solid pipeline, has a market cap of only $29.3 billion. So, the market thinks Revolution Medicines is worth about $4 billion more than Biogen.

On the one hand, it makes some sense. The market is, after all, forward-looking. And while Biogen has struggled in recent years and has a somewhat dim outlook, Revolution Medicines appears to have developed medicines that could establish dominant positions in one of the industry's largest therapeutic areas, typically dominated by pharmaceutical giants. The company's most advanced drug is significantly de-risked, too, having aced a phase 3 study on efficacy measures while showing a reasonable safety profile.

Still, at current levels, Revolution Medicines' success is already well-baked into the stock price, and any perceived issue will send its shares off a cliff. In other words, Revolution Medicines is a risky stock. My view is that interested investors should wait for a pullback before initiating a small position in the company and progressively add to it as the drugmaker continues to make clinical progress.

A diagnosis of pancreatic cancer is one of the most feared things in medicine. The disease has the highest mortality rate of all cancers. In 2026, roughly 67,530 Americans will be diagnosed with the disease in the U.S., and more than 52,740 will die from it, according to statistics from the Hirshberg Foundation for Pancreatic Cancer Research.

On May 31, Revolution Medicines (RVMD +3.13%) presented its Phase 3 trial findings for daraxonrasib, showing that this therapy, compared to chemotherapy, cut the risk of death by about 60% and more than doubled survival for patients with advanced pancreatic cancer.

It is the first time any drug has pushed median overall survival past the one-year threshold in a Phase 3 trial for metastatic pancreatic cancer. On hearing that news, oncologists at a conference gave Revolution a standing ovation.

It was a huge moment for the clinical-stage biotech. The stock is up more than 85% this year, as its name has been bandied about as a potential buyout target. Even if that doesn't happen because the stock's value has increased so much, the company is sitting on a very profitable drug.

There are three reasons why the stock remains a buy:

Image source: Getty Images.

1. There is a clear commercial runway for daraxonrasib Revolution Medicines is no longer just a distant pipeline story; it has entered the pre-commercial execution phase. After releasing the data, the company is advancing a rolling New Drug Application (NDA) submission for daraxonrasib with the Food and Drug Administration (FDA).

The FDA has already approved an Expanded Access Program for daraxonrasib, creating massive immediate demand from major U.S. cancer centers rushing to secure the drug for terminal patients ahead of official commercialization. The drug works by blocking the RAS protein, which drives tumor growth in more than 90% of pancreatic cancer cases, as well as other cancers.

Just having the treatment for pancreatic cancer is worth billions, but the drug is also being tested as a therapy to treat other RAS-addicted cancers, including certain colorectal and non-small cell lung cancers.

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2. Revolution has a diverse, plural pipeline Biotech investing is notoriously risky when a company relies on a single asset. Revolution mitigates that problem with a portfolio of RAS inhibitors addressing different mutations and indications.

Besides daraxonrasib, the company is advancing zoldonrasib (RMC-9805) for KRAS G12D mutants (showing highly encouraging initial data in non-small cell lung cancer) and elironrasib (RMC-6291), targeting KRAS G12C mutations.

The science behind the company's therapies is the ability to use its platform to block oncogenic signaling by RAS(ON) proteins, which are traditionally difficult targets. The company designs molecules that bind to the "chaperone protein" cyclophilin A, forming an interface that can be tailored to bind to different RAS(ON) proteins.

3. Revolution has a big cash stockpile and takeover possibilities Revolution isn't profitable. In the first quarter, the company reported a loss of $453.8 million. However, the company has roughly $4 billion in cash and short-term investments. At its current burn rate, it has two years to bring daraxonrasib to market without needing to dilute shareholders with late-stage capital raises.

That gives the company flexibility to go it alone, using daraxonrasib sales to fund its development, or court larger pharmaceutical companies that would love to buy out Revolution for the opportunity to inherit its platform.

Revolution backed away from a buyout deal from Merck in January that would have valued Revolution at between $28 billion and $32 billion. It's easy to see now why, as the stock's market cap is already over $32 billion. There are other pharmaceutical giants with drugs facing patent cliffs that could pursue a takeover of Revolution.

Revolution Medicines has great potential with some risk Revolution is the classic high-risk, high-reward biotech stock. If daraxonrasib doesn't come to market by the end of the year, the stock could easily plunge. It's important to note that the ability to develop a successful drug is a different skill set from running a successful company.

There's plenty of reason for optimism here. The stock, even after the run-up, is trading at around $148 per share, well below analysts' average price targets, which range between $165 and $182.

It remains a high-conviction play purely on execution, commercial rollout, and potential future interest from larger pharma suitors looking to bolster their oncology pipelines.