Expanding on the unprecedented final results previously reported from the Phase 3 RASolute 302 trial, the exploratory subgroup analyses showed RASONQUE consistently provided an overall survival benefit compared with chemotherapy across key subgroups, including patients with no identified tumor RAS mutationFindings presented as late-breaking abstract during Proffered Paper session REDWOOD CITY, Calif., Oct. 23, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that exploratory subgroup analyses from the Phase 3 RASolute 302 trial were presented as a late-breaking abstract at the European Society for Medical Oncology (ESMO) Congress 2026 in Madrid, Spain. The analyses showed that RASONQUE (daraxonrasib) consistently provided an overall survival (OS) benefit compared with chemotherapy across all evaluated RAS genotype subgroups among patients with previously treated metastatic pancreatic adenocarcinoma (PDAC), including those with no identified tumor RAS mutation. The OS benefit with RASONQUE was also maintained across preselected standard-of-care (SOC) chemotherapy regimens and prior treatment settings, including early metastatic recurrence following perioperative therapy.
“For people living with metastatic pancreatic cancer, progression after initial treatment can be devastating, with limited options and a poor prognosis,” said Zev A. Wainberg, M.D., Professor of Medicine at UCLA and co-director of the UCLA GI Oncology Program, RASolute 302 investigator and presenter of the data at ESMO. “The analysis presented at ESMO reinforces the unprecedented and statistically significant survival benefit of daraxonrasib observed in the overall study population of the RASolute 302 trial. The overall survival benefit was seen consistently across all evaluated tumor RAS profiles, underscoring the potential of daraxonrasib to benefit the broad population of patients with this devastating disease.”
In the RASolute 302 trial, patients were randomized to receive either RASONQUE 300 mg once daily (n=248) or investigator’s choice of standard chemotherapy (n=252). These exploratory subgroup analyses were derived from the prespecified primary analysis of RASolute 302, conducted at the February 10, 2026 data cutoff, which had a median follow-up of 8.5 months. In the previously reported primary analysis, median OS was 13.2 months with RASONQUE versus 6.7 months with chemotherapy (hazard ratio [HR] 0.40; 95% confidence interval [CI]: 0.30–0.53). For these exploratory analyses, across the RAS subgroups evaluated, the OS HR was 0.49 (95% CI: 0.33–0.74) for G12D mutations, 0.32 (95% CI: 0.19–0.54) for G12V mutations, 0.61 (95% CI: 0.29–1.30) for G12R mutations, 0.37 (95% CI: 0.09–1.44) for RAS Q61 mutations, and 0.43 (95% CI: 0.09–1.98) for tumors with no identified RAS mutation.
The analyses also showed a consistent OS benefit with RASONQUE across preselected SOC chemotherapy regimens, including gemcitabine plus nab-paclitaxel (GnP; HR 0.45; 95% CI: 0.32–0.65), pooled modified FOLFIRINOX/FOLFOX (HR 0.46; 95% CI: 0.23–0.95) and nanoliposomal irinotecan plus fluorouracil and leucovorin (NAL-IRI + 5-FU/LV; HR 0.32; 95% CI: 0.18–0.58).
The OS improvement was also seen among patients treated with RASONQUE compared with chemotherapy across prior treatment settings, including metastatic disease diagnosed less than six months after the last dose of neoadjuvant or adjuvant therapy (HR 0.36; 95% CI: 0.17–0.75) and one prior line of therapy for metastatic disease (HR 0.43; 95% CI: 0.32–0.58).
“These exploratory analyses across key subgroups from RASolute 302 reinforce RASONQUE as a potential new standard of care for eligible adults with metastatic pancreatic adenocarcinoma,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “They also support our broader clinical development program, which is evaluating targeted approaches across RAS variants and treatment settings with the goal of changing the treatment paradigm in RAS-addicted cancers where there is a significant unmet medical need. With RASONQUE approved in the United States, the European Medicines Agency’s Committee for Medicinal Products for Human Use recent positive opinion and regulatory reviews underway in other countries, we remain committed to expanding access to RASONQUE for eligible patients globally.”
The presentation (LBA82), titled “Daraxonrasib, a RAS(ON) multi-selective inhibitor vs chemotherapy in previously treated metastatic pancreatic adenocarcinoma (mPDAC): Additional subgroup analyses from the Phase 3 RASolute 302 study,” was delivered by Dr. Wainberg during the Proffered Paper 1: Gastrointestinal Tumour, Upper Digestive session on October 23, 2026, at the ESMO Congress in Madrid, Spain. The primary analysis from RASolute 302 was presented at the 2026 American Society of Clinical Oncology Annual Meeting with simultaneous publication in The New England Journal of Medicine.
About Pancreatic Adenocarcinoma
Pancreatic adenocarcinoma, or PDAC, is the most common form of pancreatic cancer and among the most challenging malignancies. RAS, a key growth control switch in human cells, is the main driver of pancreatic cancer, which is characterized by excessive RAS signaling. Each year, approximately 500,000 people globally are diagnosed with PDAC and it is the seventh leading cause of cancer-related deaths worldwide.1,2
Because early-stage pancreatic cancer often causes few or no symptoms, approximately 80% of patients are diagnosed after the disease has spread, when treatment options are more limited.3 For patients with metastatic PDAC, the five-year relative survival rate is approximately 3% worldwide.4
About the RASolute 302 Clinical Trial
RASolute 302 (NCT06625320) was a global, randomized Phase 3 registrational clinical trial designed to evaluate the efficacy and safety of RASONQUE as a monotherapy in patients with previously treated metastatic pancreatic adenocarcinoma (PDAC). In the trial, patients were randomized to receive either an oral dose of 300 mg RASONQUE once daily or investigator’s choice of four different cytotoxic chemotherapy regimens, which represented standard of care across the globe. The trial enrolled patients with metastatic PDAC with RAS G12 mutations (such as G12D, G12V, and G12R), RAS G13 or Q61 mutations, as well as patients with no identified tumor RAS mutations.
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 RASONQUE™ (daraxonrasib)
RASONQUE (daraxonrasib) is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor (TCI), approved by the U.S. FDA for the treatment of adult patients with metastatic pancreatic adenocarcinoma (PDAC) who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.5 RASONQUE is being investigated through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant non-small cell lung cancer (NSCLC). Outside the U.S., RASONQUE is an investigational agent that has not been approved by any regulatory authority.
U.S. INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
U.S. IMPORTANT SAFETY INFORMATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
U.S. WARNINGS AND PRECAUTIONS
Dermatologic and Soft Tissue Toxicity
RASONQUE can cause dermatologic toxicity, which may be severe. Clinical manifestations included, but were not limited to, rash, pruritus, paronychia, dry skin, and skin fissures. In clinical trials of patients with pancreatic adenocarcinoma, dermatologic toxicity occurred in 86% of patients treated with RASONQUE, of which 10% were Grade 3.
Monitor patients who develop dermatologic or soft tissue toxicities while receiving RASONQUE. Initiate prophylactic measures (e.g., topical corticosteroids, emollient creams, sunscreen, oral antibiotics) prior to the first dose of RASONQUE to reduce the risk of moderate to severe dermatologic reactions. Advise patients to limit sun exposure while taking RASONQUE. Initiate supportive measures (e.g., oral corticosteroids) as clinically indicated, and consider dermatologic consultation. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Stomatitis and Oral Disorders
RASONQUE can cause stomatitis, including mouth ulcers and oral mucositis. In clinical trials of patients with pancreatic adenocarcinoma, stomatitis occurred in 57% of patients, of which 9% were Grade 3.
Monitor patients for signs and symptoms of stomatitis while receiving RASONQUE. Initiate a steroid-containing mouthwash for treatment of stomatitis and administer other topical treatments (e.g., chlorhexidine mouthwash, 2% lidocaine viscous) as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Diarrhea
RASONQUE can cause diarrhea. In clinical trials of patients with pancreatic adenocarcinoma, diarrhea occurred in 63% of patients, of which 6% were Grade 3.
If diarrhea occurs, administer antidiarrheal treatment as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Gastrointestinal Perforation
RASONQUE can cause gastrointestinal perforation. In clinical trials of patients with pancreatic adenocarcinoma, gastrointestinal perforation occurred in 0.9% of patients treated with RASONQUE, of which 0.5% were Grade 3, one event was Grade 4, and one event was fatal.
Monitor patients for gastrointestinal perforation. Withhold RASONQUE if gastrointestinal perforation is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of gastrointestinal perforation are identified.
Interstitial Lung Disease (ILD)/Pneumonitis
RASONQUE can cause interstitial lung disease or pneumonitis. In clinical trials of patients with pancreatic adenocarcinoma, ILD/pneumonitis occurred in 2.4% of patients treated with RASONQUE, of which 0.9% were Grade 3, and one event was fatal.
Monitor patients for new or worsening pulmonary symptoms. Withhold RASONQUE if ILD/pneumonitis is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of ILD/pneumonitis are identified.
Embryo-Fetal Toxicity
Based on findings in animals, RASONQUE can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose. Advise males with female partners of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
Adverse reactions leading to permanent discontinuation of RASONQUE occurred in 2.9% of patients, including two patients who discontinued due to rash (0.8%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
DRUG INTERACTIONS
Strong CYP3A Inhibitors with P-gp Inhibition: Avoid concomitant use.Strong CYP3A Inhibitors without P-gp Inhibition: Reduce RASONQUE dosage.Moderate CYP3A Inhibitors with or without P-gp Inhibition: Reduce RASONQUE dosage.P-gp Inhibitors: Reduce RASONQUE dosage.Cyclosporine A: Avoid concomitant use.Strong CYP3A Inducers: Avoid concomitant use. Increase RASONQUE dosage if concomitant use cannot be avoided.Moderate CYP3A Inducers: Increase RASONQUE dosage.P-gp Substrates: Take at least 4 hours apart from RASONQUE.
PROPHYLACTIC MEASURES
When initiating RASONQUE and throughout treatment, prophylactic and concomitant medications are recommended to reduce the risk of dermatologic reactions:
administer a topical corticosteroid (applied to the face and chest) and emollient creamsadvise patients to limit sun exposure and use broad-spectrum sunscreen (SPF 30 or higher)consider prophylactic oral antibiotics (e.g., doxycycline or minocycline)
Please see U.S. Full Prescribing Information for RASONQUE
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; the interpretation, significance and implications of the subgroup analyses and other data from the RASolute 302 trial; the potential of RASONQUE to become a standard of care or to change the treatment paradigm in pancreatic cancer or other RAS-addicted cancers; treatment practices; the company’s regulatory interactions and plans, including the timing and outcome of the European Commission’s decision following the CHMP positive opinion and of regulatory reviews in other jurisdictions; the commercialization, market acceptance and potential label expansion of RASONQUE; the company’s broader clinical development program; and progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of RASONQUE and the company's product 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 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 August 5, 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.
REDWOOD CITY, Calif., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that it will report financial results for the third quarter of 2026 on Wednesday, November 4, 2026, after market close. At 4:30 p.m. ET that day (1:30 p.m. PT), members of Revolution Medicines’ senior management team will host a webcast to discuss the financial results for the quarter and provide an update on corporate progress.
To listen to the live webcast, or access the archived webcast, please visit: https://ir.revmed.com/events-and-presentations. Following the live webcast, a replay will be available on the company’s website for at least 14 days.
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]
Revolution Medicines Inc. (NASDAQ:RVMD) began treating patients in its global Phase 3 clinical study, RASolve 308, to evaluate a combination treatment for metastatic lung cancer.
REDWOOD CITY, Calif., Oct. 20, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that it has begun treating patients in RASolve 308, a global Phase 3 clinical trial evaluating zoldonrasib, an investigational, RAS(ON) G12D-selective inhibitor, in combination with standard of care pembrolizumab plus chemotherapy as a first-line treatment in adult patients with metastatic RAS G12D non-squamous non-small cell lung cancer (NSCLC).
SteelPeak Wealth LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ: RVMD) in the undefined quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,403 shares of the company's stock, valued at approximately $1,520,000. Other large investors also recently made changes to
First Citizens Bank & Trust Co. purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,373 shares of the company’s stock, valued at approximately $692,000.
Other hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new stake in Revolution Medicines in the 2nd quarter worth approximately $32,000. ABS Investment Management LLC acquired a new stake in Revolution Medicines in the 2nd quarter worth approximately $337,104,000. Johnson Financial Group Inc. acquired a new stake in Revolution Medicines in the 2nd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Revolution Medicines during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
Insiders Place Their Bets In other news, CFO Jack Anders sold 4,053 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $807,519.72. Following the sale, the chief financial officer directly owned 119,216 shares of the company’s stock, valued at $23,752,595.84. This represents a 3.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Goldsmith sold 13,988 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the completion of the sale, the insider owned 253,342 shares in the company, valued at $50,475,860.08. The trade was a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 290,991 shares of company stock worth $59,422,765. Company insiders own 7.60% of the company’s stock.
Revolution Medicines Trading Down 6.0% Shares of NASDAQ RVMD opened at $177.96 on Friday. Revolution Medicines, Inc. has a 52 week low of $52.40 and a 52 week high of $224.31. The business’s 50 day moving average price is $203.22 and its 200 day moving average price is $173.42. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the prior year, the firm earned ($1.31) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -8.93 EPS for the current fiscal year.
Analyst Ratings Changes A number of research analysts have issued reports on the stock. Mizuho upped their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Bank of America raised their price target on shares of Revolution Medicines from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Brookline Capital Markets started coverage on shares of Revolution Medicines in a research note on Monday, September 28th. They set a “buy” rating and a $318.00 price objective for the company. Guggenheim lifted their price objective on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Revolution Medicines in a report on Thursday, September 24th. They set a “buy” rating and a $267.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $242.55.
View Our Latest Analysis on Revolution Medicines
Revolution Medicines Company Profile (Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company’s research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.
Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.
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Revolution Medicines Inc. (NASDAQ:RVMD) has significant growth opportunities beyond pancreatic cancer, according to William Blair, which initiated coverage of the biotechnology company with an Outperform rating and a $226 price forecast.
Analyst Alethia Young said the company’s years of investment in RAS biology are beginning to pay off. Its pipeline focuses on RAS(ON) inhibitors designed to block cancer-driving RAS protein mutations.
FDA Approval and European BackingIn August, the U.S. Food and Drug Administration approved Revolution Medicines’ Rasonque (daraxonrasib) for metastatic pancreatic ductal adenocarcinoma.
The approval covers patients who received at least one prior systemic therapy or cannot undergo multiagent treatment.
Rasonque became the first approved targeted cancer therapy in a new class of RAS(ON) inhibitors.
On Friday, the European Medicines Agency’s Committee for Medicinal Products for Human Use recommended approval of Rasonque for patients with metastatic pancreatic cancer who received at least one prior systemic therapy.
Analyst Sees Revolution Medicines Maintaining Dominant Position in Pancreatic Cancer TreatmentYoung expects Revolution Medicines to maintain a leading position in pancreatic cancer over the near and long term.
The drug’s second-line approval arrived earlier than expected. Its commercial launch is underway, with physicians reporting rapid adoption.
Meanwhile, four pivotal studies are evaluating daraxonrasib and zoldonrasib in earlier treatment settings, including adjuvant therapy.
The company is also testing combinations with PRMT5 inhibitors and other experimental treatments to improve the durability of patient responses.
Growth Beyond Pancreatic CancerYoung forecasts $9.8 billion in revenue by 2032, below Bloomberg’s consensus estimate of $12.6 billion.
Her projection includes only second- and third-line non-small cell lung cancer treatment and excludes elironrasib.
However, Young remains bullish on the company’s ability to expand its RAS inhibitors into other cancers. She expects that opportunity to become clearer over the next 12 months.
The RASolve 301 trial, which compares daraxonrasib with docetaxel in previously treated lung cancer patients, is expected to deliver results in 2027.
Early data for zoldonrasib and elironrasib in first-line lung cancer treatment are promising, although patient follow-up remains limited.
Colorectal cancer remains the least validated opportunity. Revolution Medicines expects to present additional data and outline its development strategy in the fourth quarter of 2026.
Revolution Medicines Price ActionRVMD Price Action: Revolution Medicines shares were down 5.88% at $178.14 at the time of publication on Friday, according to Benzinga Pro data. The stock remains up 124% year to date.
Assenagon Asset Management S.A. grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ: RVMD) by 987.9% in the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,181,185 shares of the company's stock after purchasing an additional 1,980,699 shares during
Recommendation based on results from Phase 3 RASolute 302 trial, which demonstrated a 60% reduction in risk of death compared with chemotherapy in the overall study population with statistically significant and clinically meaningful improvements across all primary and key secondary endpoints, regardless of tumor RAS mutation statusPositive CHMP opinion follows an expedited phased review of RASONQUE under the EMA’s Cancer Medicines Pathfinder project based on its potential to address a high unmet medical need REDWOOD CITY, Calif., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion of RASONQUE (daraxonrasib) once-daily oral tablets as a monotherapy indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy. If approved by the European Commission (EC), RASONQUE would provide the first broad RAS-targeted treatment option in the European Union for adults with metastatic pancreatic adenocarcinoma.
“Today’s positive CHMP opinion marks a major step toward making RASONQUE available to eligible adults with metastatic pancreatic cancer in the European Union,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “RASONQUE is an oral medicine designed to address RAS, the key driver of pancreatic cancer, and unprecedented results from the Phase 3 RASolute 302 trial demonstrated its potential to benefit patients with this devastating disease. Its expedited review under the EMA’s Cancer Medicines Pathfinder project highlights how innovative regulatory pathways may help bring promising medicines to patients sooner. We look forward to the EC’s consideration of this CHMP positive opinion as we continue to work with regulatory authorities around the world to pursue additional approvals and broaden access to RASONQUE.”
The positive CHMP opinion is based on results from RASolute 302, a global, randomized Phase 3 trial evaluating RASONQUE versus investigator’s choice of cytotoxic chemotherapy in patients with previously treated metastatic PDAC. The trial met all primary and key secondary endpoints in both the RAS G12 mutant population and the overall intent-to-treat (ITT) population, which included patients with or without an identified tumor RAS mutation.
The primary analysis from RASolute 302 was presented at the 2026 American Society of Clinical Oncology Annual Meeting with simultaneous publication in The New England Journal of Medicine. In the ITT population, RASONQUE reduced the risk of death by 60% compared with chemotherapy, with a hazard ratio (HR) of 0.40 (95% confidence interval [CI]: 0.30–0.53; p<0.0001). The median overall survival (OS) was 13.2 months (95% CI: 10.0–NE) with RASONQUE compared to 6.7 months (95% CI: 5.8–8.0) for chemotherapy. RASONQUE also showed significant improvements in progression-free survival (PFS) with an HR of 0.49 (95% CI: 0.38–0.64; p<0.0001). The median PFS was 7.2 months (95% CI: 5.7–7.5) with RASONQUE compared to 3.6 months (95% CI: 2.9–4.2) with chemotherapy. Results were generally consistent in the RAS G12 population. A subsequent ad hoc OS analysis showed the median OS was 12.4 months with RASONQUE compared to 6.7 months for chemotherapy [HR: 0.49 (95% CI 0.39, 0.62)], which was generally consistent with the prespecified primary analysis.
The most common adverse reactions in patients treated with RASONQUE were diarrhea (63.1%), dermatitis acneiform (62.4%), stomatitis (55.5%), nausea (50.8%), vomiting (41.6%) and fatigue (33.2%).
Once granted by the EC, the centralized marketing authorization will be valid in all EU member states, as well as in the European Economic Area (EEA) countries Iceland, Norway and Liechtenstein; marketing authorization by the EC is not applicable in the United Kingdom or Switzerland, which have separate processes for considering new drug applications.
This CHMP Positive Opinion follows the approval of RASONQUE by U.S. Food and Drug Administration (FDA) on August 26, 2026.
About Pancreatic Adenocarcinoma
Pancreatic adenocarcinoma, or PDAC, is the most common form of pancreatic cancer and among the most lethal malignancies, frequently with a late diagnosis, aggressive biology, and limited responsiveness to available treatments. RAS, a key growth control switch in human cells, is the main driver of pancreatic cancer, which is characterized by excessive RAS signaling. Approximately 147,000 people are diagnosed with pancreatic cancer in Europe each year, and the five-year survival rate remains below 10%.1,2 Because early-stage pancreatic cancer often causes few or no symptoms, approximately 80% of patients are diagnosed after the disease has spread, when treatment options are more limited.3
About RASONQUETM (daraxonrasib)
RASONQUE (daraxonrasib) is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor (TCI), approved by the U.S. FDA for the treatment of adult patients with metastatic PDAC who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.4 RASONQUE is being investigated through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant non-small cell lung cancer (NSCLC).
Outside the U.S., RASONQUE is an investigational agent that has not been approved by any regulatory authority. RASONQUE received orphan medicinal product designation for pancreatic cancer and high-priority status under EMA’s Cancer Medicines Pathfinder project based on its potential to address a significant unmet need.
U.S. INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
U.S. IMPORTANT SAFETY INFORMATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
U.S. WARNINGS AND PRECAUTIONS
Dermatologic and Soft Tissue Toxicity
RASONQUE can cause dermatologic toxicity, which may be severe. Clinical manifestations included, but were not limited to, rash, pruritus, paronychia, dry skin, and skin fissures. In clinical trials of patients with pancreatic adenocarcinoma, dermatologic toxicity occurred in 86% of patients treated with RASONQUE, of which 10% were Grade 3.
Monitor patients who develop dermatologic or soft tissue toxicities while receiving RASONQUE. Initiate prophylactic measures (e.g., topical corticosteroids, emollient creams, sunscreen, oral antibiotics) prior to the first dose of RASONQUE to reduce the risk of moderate to severe dermatologic reactions. Advise patients to limit sun exposure while taking RASONQUE. Initiate supportive measures (e.g., oral corticosteroids) as clinically indicated, and consider dermatologic consultation. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Stomatitis and Oral Disorders
RASONQUE can cause stomatitis, including mouth ulcers and oral mucositis. In clinical trials of patients with pancreatic adenocarcinoma, stomatitis occurred in 57% of patients, of which 9% were Grade 3.
Monitor patients for signs and symptoms of stomatitis while receiving RASONQUE. Initiate a steroid-containing mouthwash for treatment of stomatitis and administer other topical treatments (e.g., chlorhexidine mouthwash, 2% lidocaine viscous) as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Diarrhea
RASONQUE can cause diarrhea. In clinical trials of patients with pancreatic adenocarcinoma, diarrhea occurred in 63% of patients, of which 6% were Grade 3.
If diarrhea occurs, administer antidiarrheal treatment as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Gastrointestinal Perforation
RASONQUE can cause gastrointestinal perforation. In clinical trials of patients with pancreatic adenocarcinoma, gastrointestinal perforation occurred in 0.9% of patients treated with RASONQUE, of which 0.5% were Grade 3, one event was Grade 4, and one event was fatal.
Monitor patients for gastrointestinal perforation. Withhold RASONQUE if gastrointestinal perforation is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of gastrointestinal perforation are identified.
Interstitial Lung Disease (ILD)/Pneumonitis
RASONQUE can cause interstitial lung disease or pneumonitis. In clinical trials of patients with pancreatic adenocarcinoma, ILD/pneumonitis occurred in 2.4% of patients treated with RASONQUE, of which 0.9% were Grade 3, and one event was fatal.
Monitor patients for new or worsening pulmonary symptoms. Withhold RASONQUE if ILD/pneumonitis is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of ILD/pneumonitis are identified.
Embryo-Fetal Toxicity
Based on findings in animals, RASONQUE can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose. Advise males with female partners of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
Adverse reactions leading to permanent discontinuation of RASONQUE occurred in 2.9% of patients, including two patients who discontinued due to rash (0.8%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
DRUG INTERACTIONS
Strong CYP3A Inhibitors with P-gp Inhibition: Avoid concomitant use.Strong CYP3A Inhibitors without P-gp Inhibition: Reduce RASONQUE dosage.Moderate CYP3A Inhibitors with or without P-gp Inhibition: Reduce RASONQUE dosage.P-gp Inhibitors: Reduce RASONQUE dosage.Cyclosporine A: Avoid concomitant use.Strong CYP3A Inducers: Avoid concomitant use. Increase RASONQUE dosage if concomitant use cannot be avoided.Moderate CYP3A Inducers: Increase RASONQUE dosage.P-gp Substrates: Take at least 4 hours apart from RASONQUE.
PROPHYLACTIC MEASURES
When initiating RASONQUE and throughout treatment, prophylactic and concomitant medications are recommended to reduce the risk of dermatologic reactions:
administer a topical corticosteroid (applied to the face and chest) and emollient creamsadvise patients to limit sun exposure and use broad-spectrum sunscreen (SPF 30 or higher)consider prophylactic oral antibiotics (e.g., doxycycline or minocycline) About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; the review of the CHMP Opinion by the EC; the availability of RASONQUE in Europe and other jurisdictions; treatment practices; the company’s regulatory interactions; and reactions to RASONQUE; 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 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 August 5, 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.
1 Hawksworth G, Hales J, Martinez F, et al. Pancreatic cancer trends in Europe: epidemiology and risk factors. Med Stud. 2019;35(2):164-171. doi:10.5114/ms.2019.86336
2 International Agency for Research on Cancer. Pancreas. Global Cancer Observatory. https://gco.iarc.who.int/today/en/fact-sheets-cancers/13/pancreas. Accessed September 2026.
3 Rahib L, Coffin T, Kenner B. Factors driving pancreatic cancer survival rates. Pancreas. 2025;54(6):e530-e536. doi:10.1097/MPA.0000000000002489
4 RASONQUE (daraxonrasib) Prescribing Information. Redwood City, CA: Revolution Medicines, Inc.; August 2026.
REDWOOD CITY, Calif., Oct. 05, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that it has begun treating patients in RASolute 309, a global, randomized Phase 3 clinical trial evaluating the combination of RASONQUE (daraxonrasib), a RAS(ON) multi-selective inhibitor, and zoldonrasib, an investigational RAS(ON) G12D-selective inhibitor, as a first-line treatment in adult patients with metastatic RAS G12D pancreatic adenocarcinoma (PDAC).
“RAS G12D is the most common RAS variant in PDAC,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “In preclinical studies, the combination of RAS(ON) multi-selective and G12D-selective inhibitors achieved deeper and more sustained suppression of RAS signaling than either agent alone, accompanied by greater tumor control. Likewise, initial clinical data showed that RASONQUE plus zoldonrasib delivered compelling antitumor activity in patients with previously treated metastatic PDAC, with a manageable safety and tolerability profile. In the context of the unmet need in this patient population, these findings informed the design of the first-line RASolute 309 trial in patients with PDAC. RASolute 309 is the first Phase 3 study evaluating a RAS(ON) inhibitor doublet approach and it marks an important milestone in our efforts to advance a range of potential treatment options for patients with RAS-driven cancers across tumor types and treatment settings.”
RASolute 309 (NCT07805954) is a global, randomized, open-label Phase 3 trial evaluating RASONQUE plus zoldonrasib compared with gemcitabine and nab-paclitaxel (GnP) as a first-line treatment in adult patients with metastatic RAS G12D PDAC. The dual primary endpoints are progression-free survival (PFS) and overall survival. Key secondary endpoints include PFS, objective response rate, duration of response, safety and tolerability, pharmacokinetics, and patient-reported outcomes.
About Pancreatic Adenocarcinoma
Pancreatic adenocarcinoma, or PDAC, is the most common form of pancreatic cancer and among the most challenging malignancies. Approximately 55,000 people are diagnosed with PDAC in the U.S. each year, and more than 50,000 die from the disease.1,2 Because early-stage pancreatic cancer often causes few or no symptoms, approximately 80% of patients are diagnosed after the disease has spread, when treatment options are more limited. For patients with metastatic PDAC, the five-year relative survival rate is approximately 3% in the U.S.3,4 RAS G12D is the most prevalent RAS mutation subtype in PDAC, occurring in 40% of patients.5
About Zoldonrasib
Zoldonrasib is an investigational, oral, RAS(ON) G12D-selective, covalent tri-complex inhibitor that binds to cyclophilin A, creating a binary complex that binds to and inhibits the active, oncogenic RAS(ON) G12D mutation. RAS G12D is the most prevalent RAS mutation, accounting for 29% of all RAS-driven cancers.5 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.6 Zoldonrasib is currently being evaluated as a monotherapy and in combination with other therapies, including with RASONQUE, Revolution Medicines’ RAS(ON) multi-selective inhibitor, as well as standard of care regimens in lung and gastrointestinal cancers.
About RASONQUE™ (daraxonrasib)
RASONQUE (daraxonrasib) is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor, approved by the U.S. FDA for the treatment of adult patients with metastatic pancreatic adenocarcinoma (PDAC) who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.7 RASONQUE is being investigated through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant non-small cell lung cancer. Outside the U.S., RASONQUE is an investigational agent that has not been approved by any regulatory authority.
U.S. FDA APPROVED INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
IMPORTANT SAFETY INFORMATION FOR U.S. APPROVED INDICATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
Please see U.S. Full Prescribing Information for RASONQUE
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; prevalence of certain cancer types and mutations; treatment practices; the company’s development strategy; possible adverse reactions; 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 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 August 5, 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.
1 Oracle CancerMPact Patient Metrics, Stage IV newly incident + recurrent from earlier stages. Accessed July 2026.
2 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
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 September 2026.
5 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
6 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.
7 RASONQUE (daraxonrasib) Prescribing Information. Redwood City, CA: Revolution Medicines, Inc.; August 2026.
Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) Director Elizabeth Anderson sold 10,143 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the completion of the transaction, the director directly owned 4,333 shares in the company, valued at approximately $836,442.32. The trade was a 70.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of RVMD stock opened at $204.97 on Friday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 12 month low of $42.78 and a 12 month high of $224.31. The stock has a market cap of $43.93 billion, a P/E ratio of -23.24 and a beta of 1.40. The company has a 50 day simple moving average of $200.82 and a two-hundred day simple moving average of $162.92.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -8.87 earnings per share for the current year.
Analyst Ratings Changes Several research analysts have recently commented on the company. Mizuho raised their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Wedbush boosted their price objective on Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Guggenheim raised their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, UBS Group lifted their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a report on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $230.15. Check Out Our Latest Analysis on RVMD
Hedge Funds Weigh In On Revolution Medicines Large investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares during the period. Alphabet Inc. purchased a new stake in shares of Revolution Medicines during the 2nd quarter worth $551,843,000. ABS Investment Management LLC bought a new stake in Revolution Medicines during the second quarter valued at about $337,104,000. Geode Capital Management LLC grew its stake in Revolution Medicines by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock valued at $251,912,000 after purchasing an additional 16,323 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Revolution Medicines by 13.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock worth $226,605,000 after purchasing an additional 331,046 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
About Revolution Medicines (Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Revolution Medicines (RVMD +4.78%) just got some very good news: The FDA gave the company's RASONQUE breakthrough therapy designation. That could help speed the metastatic pancreatic cancer drug to market. But the stock is up 330% over the past year, so investors are already pricing in a lot of good news. Investors can still get exposure to Revolution Medicines if they buy Royalty Pharma (RPRX +1.11%), while also spreading their risk across a more diversified basket of pharmaceutical products offered by various drug makers. Here's why you may want to do just that.
What does Revolution Medicines do? Revolution Medicines describes itself as "a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers." That's a lot if you aren't a healthcare specialist, but the big takeaway is that the company makes drugs to treat cancer. Oncology is a very big field, so Revolution Medicines has many opportunities to develop new therapies.
Image source: Getty Images.
The FDA news regarding RASONQUE is clearly positive, indicating the company is seeing success in its drug development process. However, it is still just one company working in one pharmaceutical niche.
What does Royalty Pharma do? Royalty Pharma buys royalties on drugs. It provides drug makers with cash up front so they can develop drugs. In exchange, it collects a piece of a drug's sales. It's sort of like a royalty in the music business; every time a song gets played, the artists who created it get a little cash. Royalty Pharma invests in both marketed drugs and those still in development.
Premium Feature
Moneyball Superscore
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Developed drugs provide cash right now, while drugs in development are more of a wild card. If they work out, there could be attractive royalties involved, but if they don't, well, the investment was a flameout. So, owning Royalty Pharma comes with some risks. However, it allows investors to get exposure to a diversified portfolio of drugs from a number of different drug makers with just one investment.
Right now, Royalty Pharma has investments in 35 approved products and 17 drugs still in development. One of the drugs to which it has exposure that's still in the development stage is Revolution Medicines' RASONQUE. Royalty Pharma estimates that this drug could generate up to $11 billion in peak sales and $340 million in royalties.
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And that's just one of many drugs to which investors get exposure when they buy Royalty Pharma. But there's another angle here, too, since Royalty Pharma has a roughly 1.6% dividend yield. Many drug companies don't pay any dividends at all, including Revolution Medicines. So, Royalty Pharma is a way for dividend investors to gain exposure to drug development without forgoing an income stream. And the best part is that Royalty Pharma is filled with experts who are doing the hard work of cherry-picking the development drugs they believe have the best prospects for success.
Royalty Pharma is a good middle ground between risk and reward Royalty Pharma's stock is up around 60% over the past year. That's not bad, but clearly owning Revolution Medicines has been more rewarding, given that stock's 330% gain over the same span. But there's a risk/reward balance that investors have to consider.
With Revolution Medicines, you are putting all of your eggs in one basket. If anything goes wrong on the drug development front, the stock could quickly crater if investor sentiment around the company sours. Royalty Pharma lets you spread your bets, providing a safer way to get exposure to Revolution Medicines' RASONQUE success. For many investors, Royalty Pharma will be the more attractive option.
Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) CFO Jack Anders sold 4,053 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $807,519.72. Following the completion of the transaction, the chief financial officer owned 119,216 shares in the company, valued at approximately $23,752,595.84. This represents a 3.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Jack Anders also recently made the following trade(s):
On Wednesday, June 24th, Jack Anders sold 20,000 shares of Revolution Medicines stock. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Revolution Medicines Price Performance Shares of NASDAQ RVMD opened at $190.95 on Friday. Revolution Medicines, Inc. has a twelve month low of $42.18 and a twelve month high of $224.31. The firm has a market cap of $40.93 billion, a P/E ratio of -21.65 and a beta of 1.40. The company has a 50 day moving average of $199.57 and a 200 day moving average of $159.57. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter last year, the firm posted ($1.31) earnings per share. As a group, research analysts expect that Revolution Medicines, Inc. will post -8.87 EPS for the current fiscal year. More Revolution Medicines News Here are the key news stories impacting Revolution Medicines this week:
Positive Sentiment: Revolution Medicines recently received regulatory approval for a new medicine, validating its approach to treating certain cancers. The treatment could potentially become the most-prescribed therapy in its indication, improving the company’s long-term commercial outlook. Revolution Medicines Just Hit a Major Milestone. Is the Stock a Buy? Neutral Sentiment: A comparison article weighing Axsome Therapeutics against Revolution Medicines highlights RVMD as a healthcare investment candidate, but does not provide a clearly new company-specific catalyst. Axsome Therapeutics vs. Revolution Medicines: Which Healthcare Stock Is a Better Buy in 2026? Negative Sentiment: Five company insiders, including the CFO and COO, collectively sold approximately $5.8 million of RVMD shares at $199.24 apiece. The filings state that the transactions were made to cover tax withholding obligations tied to vested equity awards, rather than for discretionary reasons. Nevertheless, the cluster of sales can create short-term supply and sentiment pressure. The insiders continued to hold substantial positions after the transactions. Revolution Medicines insider transaction filing Analyst Upgrades and Downgrades Several equities research analysts recently commented on RVMD shares. Needham & Company LLC lifted their price objective on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Royal Bank Of Canada upped their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Truist Financial raised their price target on shares of Revolution Medicines from $231.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Evercore reiterated an “outperform” rating and issued a $320.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. Finally, UBS Group boosted their price objective on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Moderate Buy” and an average price target of $226.17.
Get Our Latest Report on RVMD
Institutional Investors Weigh In On Revolution Medicines Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares during the period. Alphabet Inc. purchased a new position in Revolution Medicines during the second quarter valued at $551,843,000. ABS Investment Management LLC bought a new stake in Revolution Medicines during the second quarter valued at about $337,104,000. Geode Capital Management LLC grew its holdings in Revolution Medicines by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock valued at $251,912,000 after purchasing an additional 16,323 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in Revolution Medicines by 13.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock worth $226,605,000 after buying an additional 331,046 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.
(Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) insider Alan Sandler sold 341 shares of Revolution Medicines stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $67,940.84. Following the completion of the transaction, the insider directly owned 52,868 shares of the company’s stock, valued at approximately $10,533,420.32. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Revolution Medicines Trading Down 3.0% Shares of Revolution Medicines stock opened at $190.95 on Friday. The company has a market capitalization of $40.93 billion, a P/E ratio of -21.65 and a beta of 1.40. The stock has a fifty day simple moving average of $199.57 and a 200 day simple moving average of $159.57. Revolution Medicines, Inc. has a 12-month low of $42.18 and a 12-month high of $224.31. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the firm posted ($1.31) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.
Analysts Set New Price Targets A number of research firms have commented on RVMD. Oppenheimer boosted their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Morgan Stanley started coverage on shares of Revolution Medicines in a report on Thursday, September 10th. They set an “overweight” rating and a $255.00 price objective for the company. Royal Bank Of Canada upped their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Truist Financial increased their target price on Revolution Medicines from $231.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Sanford C. Bernstein raised their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.17. View Our Latest Stock Report on Revolution Medicines
Key Stories Impacting Revolution Medicines Here are the key news stories impacting Revolution Medicines this week:
Positive Sentiment: Revolution Medicines recently received regulatory approval for a new medicine, validating its approach to treating certain cancers. The treatment could potentially become the most-prescribed therapy in its indication, improving the company’s long-term commercial outlook. Revolution Medicines Just Hit a Major Milestone. Is the Stock a Buy? Neutral Sentiment: A comparison article weighing Axsome Therapeutics against Revolution Medicines highlights RVMD as a healthcare investment candidate, but does not provide a clearly new company-specific catalyst. Axsome Therapeutics vs. Revolution Medicines: Which Healthcare Stock Is a Better Buy in 2026? Negative Sentiment: Five company insiders, including the CFO and COO, collectively sold approximately $5.8 million of RVMD shares at $199.24 apiece. The filings state that the transactions were made to cover tax withholding obligations tied to vested equity awards, rather than for discretionary reasons. Nevertheless, the cluster of sales can create short-term supply and sentiment pressure. The insiders continued to hold substantial positions after the transactions. Revolution Medicines insider transaction filing Institutional Investors Weigh In On Revolution Medicines Large investors have recently added to or reduced their stakes in the company. Alphabet Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $551,843,000. Norges Bank bought a new position in Revolution Medicines in the 4th quarter worth $195,568,000. Avoro Capital Advisors LLC purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $172,840,000. Polar Capital Holdings Plc lifted its position in shares of Revolution Medicines by 321.2% in the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after purchasing an additional 1,535,686 shares during the period. Finally, Jefferies Financial Group Inc. boosted its stake in shares of Revolution Medicines by 8,678.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,141,195 shares of the company’s stock valued at $90,896,000 after purchasing an additional 1,128,195 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.
Revolution Medicines Company Profile (Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Engineers Gate Manager LP increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 144.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,380 shares of the company’s stock after purchasing an additional 4,356 shares during the quarter. Engineers Gate Manager LP’s holdings in Revolution Medicines were worth $1,382,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in RVMD. Integrated Wealth Concepts LLC purchased a new stake in shares of Revolution Medicines during the second quarter valued at about $278,000. NewEdge Advisors LLC purchased a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $526,000. IFP Advisors Inc grew its position in shares of Revolution Medicines by 577.3% in the 2nd quarter. IFP Advisors Inc now owns 745 shares of the company’s stock worth $140,000 after buying an additional 635 shares during the last quarter. Hudock Inc. bought a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $275,000. Finally, Allworth Financial LP raised its stake in shares of Revolution Medicines by 227.5% during the 2nd quarter. Allworth Financial LP now owns 2,240 shares of the company’s stock worth $420,000 after acquiring an additional 1,556 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.
Wall Street Analysts Forecast Growth Several equities research analysts have weighed in on RVMD shares. Oppenheimer raised their target price on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. TD Cowen raised Revolution Medicines to a “strong-buy” rating in a research report on Monday, August 24th. UBS Group increased their price objective on Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a report on Friday, August 28th. Truist Financial raised their price target on Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, HC Wainwright boosted their price target on Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines has an average rating of “Moderate Buy” and an average target price of $226.17.
Read Our Latest Analysis on Revolution Medicines Revolution Medicines Stock Up 0.5% Revolution Medicines stock opened at $196.94 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The business’s 50-day simple moving average is $199.49 and its two-hundred day simple moving average is $159.35. The company has a market cap of $42.21 billion, a PE ratio of -22.33 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the firm posted ($1.31) earnings per share. Equities analysts anticipate that Revolution Medicines, Inc. will post -8.87 EPS for the current year.
Insiders Place Their Bets In other news, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider directly owned 267,330 shares in the company, valued at $55,925,436. The trade was a 23.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 271,201 shares of company stock worth $54,843,421. Company insiders own 7.60% of the company’s stock.
(Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Choosing between a commercial-stage drugmaker and a clinical biotech requires balancing current sales against potential. For investors, Axsome Therapeutics (AXSM -2.18%) and Revolution Medicines (RVMD -2.48%) offer two distinct paths toward growth.
Axsome focuses on central nervous system disorders with several products already on the market generating meaningful cash. Revolution Medicines is a clinical-stage oncology firm targeting difficult-to-treat cancers through its proprietary platform. While both operate in a high-stakes industry, their financial profiles and overall maturity levels differ significantly.
The case for Axsome TherapeuticsAxsome develops therapies for central nervous system conditions like depression and migraine. It currently commercializes three products in the United States, including Auvelity and Sunosi. This dual approach of internal development and licensing allows it to scale quickly among biotech stocks.
In FY 2025, revenue reached nearly $638.5 million, representing a 65.5% increase compared to the prior year. Despite this rapid top-line growth, the company reported a net loss of approximately $183.2 million. This resulted in a negative net margin of roughly 28.7%, which measures how much revenue remains after all expenses are paid.
As of its December 2025 balance sheet, the debt-to-equity ratio is close to 2.7x. This metric compares total debt to shareholder equity, and a value over 1.0 indicates the company uses more debt than equity to fund its assets. The current ratio, which measures the ability to cover short-term obligations, is about 1.6x, and free cash flow was negative $93.9 million.
Revolution Medicines is an oncology-focused company building a pipeline of oral inhibitors to treat RAS-addicted cancers. Unlike its peer, it currently has no products approved for commercial sale and has generated no revenue from drug sales. The company relies on third-party manufacturers for clinical supplies while its 883 employees focus heavily on research and development.
In FY 2025, revenue reached $0.0 as the company remained in the clinical stage without commercial products. Consequently, it reported a net loss of nearly $1.1 billion for the year. This net loss widened from approximately $600.1 million in fiscal 2024 as the company ramped up spending on its late-stage clinical programs for pancreatic and lung cancer.
As of its December 2025 balance sheet, the company maintains a low debt-to-equity ratio of roughly 0.1x. This ratio compares total debt to shareholder equity, indicating a very low reliance on borrowed funds. Its current ratio is a robust 7.1x, and free cash flow was negative $913.7 million in FY 2025 as the company invested in its pipeline.
Risk profile comparisonAxsome faces risks related to its history of net losses and its limited history of commercializing drugs independently. Regulatory hurdles also persist, as seen with previous challenges regarding its fibromyalgia candidate. Furthermore, the company faces intense competition in the central nervous system market from established players like AbbVie (ABBV +0.00%), Biogen (BIIB -0.23%), Eli Lilly, and Jazz Pharmaceuticals.
Revolution Medicines carries the high risk typical of clinical-stage biotechs, including the potential for trial failures or the emergence of drug resistance. Without any current product revenue, it is entirely dependent on its ability to raise additional capital. It also competes with large pharmaceutical firms like Amgen (AMGN +0.35%) and faces manufacturing risks related to regulatory changes like the BIOSECURE Act.
Valuation comparisonAxsome Therapeutics commands a premium valuation relative to its current sales. Revolution Medicines is an early stage business that is not yet generating the forecasted earnings or revenue needed to calculate these metrics.
MetricAxsome TherapeuticsRevolution MedicinesForward P/E48.7xN/AP/S ratio18.3xN/AValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?I'd go with Revolution Medicines. In 2026, it achieved something that had eluded oncologists for decades: FDA approval for daraxonrasib, the first-ever targeted therapy for metastatic pancreatic cancer. A breakthrough like that defines a company's trajectory for years.
Revenue is still modest, but the addressable patient population is expanding. A Royalty Pharma partnership provides funding without further diluting shareholders, and the pipeline extends into lung cancer and other RAS-driven tumors that could add multiple new growth engines over time.
Axsome has made genuine strides since launching its first commercial drugs. A new FDA approval for Alzheimer's agitation adds a promising indication, and revenue is growing at a healthy clip. That said, the most recent quarter saw results come in below analyst expectations, losses widened as selling costs surged, and the path to profitability still requires everything to keep clicking commercially.
Both companies are asking investors to be patient. The difference is that Revolution Medicines is being patient around a drug that just changed the standard of care for a devastating disease. Investors with a long time horizon will find that a more compelling foundation to build on.
Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) insider Stephen Kelsey sold 92,531 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at $59,064,027.36. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Revolution Medicines Stock Performance NASDAQ:RVMD opened at $195.92 on Thursday. The firm’s fifty day simple moving average is $199.37 and its 200-day simple moving average is $158.68. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $41.99 billion, a PE ratio of -22.21 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the firm earned ($1.31) earnings per share. Analysts expect that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.
Analysts Set New Price Targets Several equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. HC Wainwright increased their price target on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Mizuho lifted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Evercore reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Finally, Sanford C. Bernstein increased their target price on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Revolution Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $226.17. Check Out Our Latest Report on RVMD
Institutional Trading of Revolution Medicines A number of hedge funds have recently bought and sold shares of RVMD. Contravisory Investment Management Inc. purchased a new position in shares of Revolution Medicines during the 2nd quarter worth $32,000. Johnson Financial Group Inc. purchased a new position in Revolution Medicines during the second quarter worth about $37,000. Silvant Capital Management LLC acquired a new stake in Revolution Medicines in the 2nd quarter worth about $41,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Revolution Medicines in the 2nd quarter valued at about $41,000. Finally, Allworth Financial LP increased its stake in shares of Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
(Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Revolution Medicines (RVMD -4.36%) has been on a tear over the past year, with the company's shares climbing by 340%, as of writing. As is often the case with clinical-stage biotechs, the company's run has been driven by impressive clinical progress. And the good news is that Revolution Medicines recently earned approval for its first product. What does this new milestone mean for investors? Is the stock still a buy after its amazing run over the past 12 months? Let's try to answer those questions.
Image source: Getty Images.
Not just another cancer drug The oncology market is intensely competitive and typically dominated by the largest and most prominent pharmaceutical companies. It's not easy for smaller drugmakers to make waves in this area. But Revolution Medicines has managed to do so. The company recently earned approval for RASONQUE, an oral tablet for the treatment of certain patients with pancreatic adenocarcinoma, the most common form of pancreatic cancer. But why is this approval considered a breakthrough? Here is the reason. Revolution Medicines is targeting RAS-addicted cancers.
RAS is a family of proteins that help regulate cell growth and division. It can be useful to think of these proteins as a molecular switch that can be turned on or off. But mutations can sometimes cause RAS to drive uncontrolled cancer cell growth by keeping the RAS switch permanently on. Previous medicines have targeted only specific, narrow RAS mutations, but Revolution Medicines' big success with RASONQUE is that it targets a much broader range of mutations than previous medicines. The medicine has shown just how potent a treatment it can be in clinical trials.
In a phase 3 study, it led to a median overall survival of 13.2 months in patients with pancreatic cancer, versus 6.7 months for patients on chemotherapy, which is the standard of care in this setting. So, RASONQUE could become the new standard of care in its narrow indication.
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Is the best yet to come?According to researchers, RAS mutations are among the most common mutations in cancer. So, Revolution Medicines' breakthrough opens a world of possibilities beyond the narrow indication it has already received for RASONQUE. The company is testing the medicine across other potential niches, including non-small cell lung cancer, one of the leading causes of cancer death worldwide. Further, Revolution Medicines is developing several other medicines.
The question, then, isn't whether Revolution Medicines is an innovative biotech company. The question is whether the stock has significant upside left after its amazing run over the past 12 months. There are some reasons to believe it does. Revolution Medicines priced RASONQUE at $39,800 for a 30-day supply, which is significantly higher than the monthly price for Keytruda, the world's best-selling cancer medicine (or individual drug brand in any area, for that matter). Could RASONQUE eventually exceed Keytruda's peak sales?
Maybe not. Keytruda may have a lower list price, but it has earned dozens of approvals across many different types of cancer. Still, analysts are excited about RASONQUE's prospects. According to some, it could generate $15.1 billion in revenue for pancreatic cancer by 2034 and $20.8 billion at its peak. And we also have to factor in the potential of Revolution Medicines' other pipeline candidates, although early stage programs are considerably riskier at this point. However, Revolution Medicines' current market cap is about $43 billion.
That's a huge number for a biotech that just earned its first approval. This valuation reflects RASONQUE's potential and Revolution Medicines' revolutionary approach to treating RAS-addicted cancers. Still, RASONQUE's success seems already baked into the stock price, meaning there may not be that much upside from here on out. Let's assume Revolution Medicines generates $20 billion in sales by 2034 across RASONQUE and other products.
Suppose, also, that Revolution Medicines has a price-to-sales ratio of 4 by then, a fairly reasonable number in the biotech industry. The company's market cap could rise to $80 billion by then, representing a compound annual growth rate of 8.1%. That's not bad, but a lot could go wrong, including clinical trial failures for earlier candidates or, for that matter, for RASONQUE in other indications. It's also possible that RASONQUE will exceed expectations, and that Revolution Medicines will launch newer products while avoiding clinical trial failures.
But in my view, there is little room for error for the biotech, which makes it a fairly risky stock to buy. Revolution Medicines would, however, be an attractive stock to pick up on the dip.
Concurrent Investment Advisors LLC bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,534 shares of the company’s stock, valued at approximately $475,000.
Several other large investors have also modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Revolution Medicines by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock worth $251,912,000 after acquiring an additional 16,323 shares during the last quarter. Alphabet Inc. acquired a new position in Revolution Medicines in the second quarter valued at approximately $551,843,000. Westfield Capital Management Co. LP boosted its stake in Revolution Medicines by 13.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock valued at $226,605,000 after acquiring an additional 331,046 shares during the period. Finally, General Atlantic L.P. grew its holdings in shares of Revolution Medicines by 13.7% during the fourth quarter. General Atlantic L.P. now owns 2,812,928 shares of the company’s stock valued at $224,050,000 after purchasing an additional 338,500 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.
Revolution Medicines Stock Performance Revolution Medicines stock opened at $205.11 on Tuesday. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31. The firm’s 50 day simple moving average is $198.96 and its 200-day simple moving average is $157.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The company has a market cap of $43.96 billion, a P/E ratio of -23.26 and a beta of 1.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the firm posted ($1.31) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -8.87 EPS for the current year. Analyst Ratings Changes RVMD has been the topic of several recent research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $248.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Sanford C. Bernstein raised their price target on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. Stifel Nicolaus lifted their price target on Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Guggenheim boosted their price objective on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Oppenheimer increased their price objective on Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.17.
Get Our Latest Stock Report on RVMD
Insider Activity at Revolution Medicines In other news, insider Mark Goldsmith sold 80,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the transaction, the insider owned 267,330 shares of the company’s stock, valued at $55,925,436. This trade represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret Horn sold 29,600 shares of Revolution Medicines stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. This trade represents a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 208,270 shares of company stock valued at $40,858,400. Insiders own 7.60% of the company’s stock.
Revolution Medicines Profile (Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
Featured Stories Five stocks we like better than Revolution Medicines Analysts Are Punting Their Calls Into the Next Quarter After Adobe’s Mixed Earnings Institutional Money Is Pouring Into These 2 Altcoin ETFs The End of Big Tech Buybacks? Only One Hyperscaler Is Still Repurchasing Shares 3 Dividend Kings to Buy While They’re Still Beaten Down Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report).
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Company receives third Breakthrough Therapy Designation for RASONQUE and fifth across its portfolio of RAS(ON) inhibitors, further highlighting its differentiated strategy for developing innovative medicines for patients with RAS-addicted cancers
REDWOOD CITY, Calif., Sept. 14, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation to RASONQUE (daraxonrasib), the company’s RAS(ON) multi-selective inhibitor, for treatment-naïve metastatic pancreatic adenocarcinoma (PDAC) in combination with gemcitabine and nab-paclitaxel (GnP), a multiagent chemotherapy regimen widely used in treating patients with PDAC. RASONQUE was recently approved by the U.S. FDA for the treatment of adult patients with metastatic PDAC who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
The Breakthrough Therapy Designation is based on data from patients with treatment-naïve RAS mutant metastatic PDAC who received RASONQUE in combination with GnP in the open-label, multicenter Phase 1/2 RMC-GI-102 trial. In this cohort, RASONQUE in combination with GnP showed encouraging preliminary antitumor activity and a manageable safety profile that was consistent with the known safety profiles previously observed for both RASONQUE and GnP. These data informed the design of RASolute 303, the ongoing global Phase 3 trial evaluating RASONQUE as monotherapy and in combination with GnP versus GnP alone in patients with previously untreated metastatic PDAC, independent of tumor RAS genotype. The use of RASONQUE in combination with chemotherapy for treatment-naïve metastatic PDAC remains investigational with safety and efficacy not yet established.
“This Breakthrough Therapy Designation underscores the significant unmet need among patients with previously untreated metastatic pancreatic adenocarcinoma and recognizes the importance of advancing new treatment options earlier in their treatment journey,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “RASONQUE monotherapy demonstrated compelling clinical benefit in the RASolute 302 trial, leading to FDA approval for patients with previously treated metastatic pancreatic adenocarcinoma or those who are not candidates for multiagent systemic therapy. Data from the RMC-GI-102 study have now shown the therapeutic potential of RASONQUE in combination with GnP, a commonly used multiagent systemic therapy, in treatment-naïve patients. Together with our other ongoing studies, these findings reflect our deep commitment to advancing a broad RAS(ON) approach for patients with some of the most difficult-to-treat cancers.”
Breakthrough Therapy Designation is intended to expedite the development and review of potential new medicines designed to treat serious conditions and address significant unmet medical needs. Pursuant to FDA guidelines, the medicine needs to have shown preliminary clinical evidence that demonstrates substantial improvement on a clinically significant endpoint over available medicines.
About Pancreatic Adenocarcinoma (PDAC)
Pancreatic adenocarcinoma, or PDAC, is the most common form of pancreatic cancer and among the most challenging malignancies. Approximately 55,000 people are diagnosed with PDAC in the U.S. each year, and more than 50,000 die from the disease with current standard of care.1,2 Because early-stage pancreatic cancer often causes few or no symptoms, approximately 80% of patients are diagnosed after the disease has spread, when treatment options are more limited. For patients with metastatic PDAC, the five-year relative survival rate is approximately 3% in the U.S.3.4
About RASONQUETM (daraxonrasib)
RASONQUE (daraxonrasib) is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor (TCI), approved by the U.S. FDA for the treatment of adult patients with metastatic pancreatic adenocarcinoma (PDAC) who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.5 RASONQUE is being investigated through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant non-small cell lung cancer (NSCLC). Outside the U.S., RASONQUE is an investigational agent that has not been approved by any regulatory authority.
U.S. FDA APPROVED INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
IMPORTANT SAFETY INFORMATION FOR U.S. APPROVED INDICATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
WARNINGS AND PRECAUTIONS
Dermatologic and Soft Tissue Toxicity
RASONQUE can cause dermatologic toxicity, which may be severe. Clinical manifestations included, but were not limited to, rash, pruritus, paronychia, dry skin, and skin fissures. In clinical trials of patients with pancreatic adenocarcinoma, dermatologic toxicity occurred in 86% of patients treated with RASONQUE, of which 10% were Grade 3.
Monitor patients who develop dermatologic or soft tissue toxicities while receiving RASONQUE. Initiate prophylactic measures (e.g., topical corticosteroids, emollient creams, sunscreen, oral antibiotics) prior to the first dose of RASONQUE to reduce the risk of moderate to severe dermatologic reactions. Advise patients to limit sun exposure while taking RASONQUE. Initiate supportive measures (e.g., oral corticosteroids) as clinically indicated, and consider dermatologic consultation. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Stomatitis and Oral Disorders
RASONQUE can cause stomatitis, including mouth ulcers and oral mucositis. In clinical trials of patients with pancreatic adenocarcinoma, stomatitis occurred in 57% of patients, of which 9% were Grade 3.
Monitor patients for signs and symptoms of stomatitis while receiving RASONQUE. Initiate a steroid-containing mouthwash for treatment of stomatitis and administer other topical treatments (e.g., chlorhexidine mouthwash, 2% lidocaine viscous) as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Diarrhea
RASONQUE can cause diarrhea. In clinical trials of patients with pancreatic adenocarcinoma, diarrhea occurred in 63% of patients, of which 6% were Grade 3.
If diarrhea occurs, administer antidiarrheal treatment as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Gastrointestinal Perforation
RASONQUE can cause gastrointestinal perforation. In clinical trials of patients with pancreatic adenocarcinoma, gastrointestinal perforation occurred in 0.9% of patients treated with RASONQUE, of which 0.5% were Grade 3, one event was Grade 4, and one event was fatal.
Monitor patients for gastrointestinal perforation. Withhold RASONQUE if gastrointestinal perforation is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of gastrointestinal perforation are identified.
Interstitial Lung Disease (ILD)/Pneumonitis
RASONQUE can cause interstitial lung disease or pneumonitis. In clinical trials of patients with pancreatic adenocarcinoma, ILD/pneumonitis occurred in 2.4% of patients treated with RASONQUE, of which 0.9% were Grade 3, and one event was fatal.
Monitor patients for new or worsening pulmonary symptoms. Withhold RASONQUE if ILD/pneumonitis is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of ILD/pneumonitis are identified.
Embryo-Fetal Toxicity
Based on findings in animals, RASONQUE can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose. Advise males with female partners of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
Adverse reactions leading to permanent discontinuation of RASONQUE occurred in 2.9% of patients, including two patients who discontinued due to rash (0.8%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
DRUG INTERACTIONS
Strong CYP3A Inhibitors with P-gp Inhibition: Avoid concomitant use.Strong CYP3A Inhibitors without P-gp Inhibition: Reduce RASONQUE dosage.Moderate CYP3A Inhibitors with or without P-gp Inhibition: Reduce RASONQUE dosage.P-gp Inhibitors: Reduce RASONQUE dosage.Cyclosporine A: Avoid concomitant use.Strong CYP3A Inducers: Avoid concomitant use. Increase RASONQUE dosage if concomitant use cannot be avoided.Moderate CYP3A Inducers: Increase RASONQUE dosage.P-gp Substrates: Take at least 4 hours apart from RASONQUE. PROPHYLACTIC MEASURES
When initiating RASONQUE and throughout treatment, prophylactic and concomitant medications are recommended to reduce the risk of dermatologic reactions:
administer a topical corticosteroid (applied to the face and chest) and emollient creams;advise patients to limit sun exposure and use broad-spectrum sunscreen (SPF 30 or higher); andconsider prophylactic oral antibiotics (e.g., doxycycline or minocycline).
Please see U.S. Full Prescribing Information for RASONQUE
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; treatment practices; the company’s regulatory interactions and the potential for Breakthrough Therapy Designation to expedite the development and review of new medicines; reactions to RASONQUE; 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 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 August 5, 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.
1 Oracle CancerMPact Patient Metrics, Stage IV newly incident + recurrent from earlier stages. Accessed July 2026.
2 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
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 September 2026.
5 RASONQUE (daraxonrasib) Prescribing Information. Redwood City, CA: Revolution Medicines, Inc.; August 2026.
Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) Director Lorence Kim sold 17,090 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $209.82, for a total transaction of $3,585,823.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
NASDAQ RVMD opened at $203.77 on Friday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $198.66 and its two-hundred day moving average is $156.23. The company has a market capitalization of $43.68 billion, a price-to-earnings ratio of -23.10 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $42.18 and a 1-year high of $224.31.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the business earned ($1.31) earnings per share. Equities analysts forecast that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.
Analysts Set New Price Targets RVMD has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Stifel Nicolaus upped their target price on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim increased their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Raymond James Financial reissued a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, UBS Group boosted their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.17. Check Out Our Latest Report on Revolution Medicines
Hedge Funds Weigh In On Revolution Medicines Institutional investors and hedge funds have recently bought and sold shares of the business. Equitable Holdings Inc. acquired a new position in shares of Revolution Medicines during the second quarter valued at $963,000. State of Wyoming bought a new position in Revolution Medicines in the second quarter valued at about $1,769,000. Handelsbanken Fonder AB increased its position in Revolution Medicines by 243.6% in the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock worth $39,755,000 after purchasing an additional 150,500 shares during the period. Eagle Health Investments LP acquired a new stake in Revolution Medicines in the fourth quarter worth about $9,231,000. Finally, Bank of New York Mellon Corp bought a new stake in Revolution Medicines during the 2nd quarter worth about $112,566,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
Revolution Medicines Company Profile (Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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Investors choosing between Amgen (AMGN -0.73%) and Revolution Medicines (RVMD -0.47%) must weigh established cash flows against high-stakes clinical potential. Which of these healthcare players is the better addition to your portfolio today?
Amgen is a titan of the biotech world with a deep portfolio of marketed drugs and a history of returning capital to shareholders. Revolution Medicines represents the speculative side of the sector, focusing on breakthrough cancer research without any current revenue. Both companies offer exposure to medical innovation but through very different financial profiles.
The case for AmgenAmgen focuses on developing and manufacturing therapies for serious illnesses in oncology, inflammation, and rare diseases. Within the biotech stocks landscape, the company primarily distributes its products through three major wholesalers: McKesson (MCK -0.24%), Cencora (COR -0.86%), and Cardinal Health (CAH -1.30%). Because these three customers account for nearly 77% of gross revenues, this customer concentration adds a layer of risk to the business.
In FY 2025, revenue reached nearly $36.7 billion, representing growth of approximately 9.9% over the previous year. Net income for the period was roughly $7.7 billion, which equals a net margin of 21%. This reflects a significant increase from the 12.2% net margin recorded in 2024, demonstrating the company's ability to maintain high profitability across its diverse drug portfolio.
As of its December 2025 balance sheet, the debt-to-equity ratio is roughly 6.3x. This ratio, which compares total debt to shareholder equity, indicates that the company carries significantly more debt than it has equity. The current ratio, which measures the ability to pay short-term debts with current assets, is approximately 1.1x. Free cash flow, which is the cash left after paying for capital projects, reached close to $8.1 billion in FY 2025.
Revolution Medicines is a global oncology company advancing a pipeline of therapies designed to target RAS-addicted cancers. It currently operates as a clinical-stage firm, meaning it has not yet brought a product to market or generated commercial sales. The company relies on strategic collaborations for development, including a partnership with BeOne Medicines and a royalty arrangement with Royalty Pharma (RPRX -0.03%).
In FY 2025, the company reported revenue of $0.0 because it does not yet have any approved products for sale. This resulted in a net loss of around $1.1 billion for the fiscal year as it expanded its clinical trials. This net loss grew compared to the prior year, reflecting the high costs associated with bringing new cancer treatments through the regulatory process.
As of its December 2025 balance sheet, the company maintains a debt-to-equity ratio of approximately 0.1x. This indicates a very low level of debt relative to its equity. The current ratio is quite high at roughly 9.5x, providing a substantial cushion for near-term operating expenses. However, free cash flow was negative at approximately $913.7 million in FY 2025, as is common for biotech firms in the research phase.
Risk profile comparisonAmgen faces significant pricing pressures from both government and commercial entities, including recent Medicare price-setting for major products like ENBREL. The company is also navigating ongoing tax disputes with the IRS regarding how it allocates profits between the United States and Puerto Rico. Additionally, Amgen must defend its intellectual property against biosimilar competitors while managing potential cybersecurity threats to its patient data systems.
Revolution Medicines carries the risks typical of a younger biotech, including a lack of approved products and a limited operating history. The company faces a high failure rate in its clinical trials and may encounter resistance mutations that limit the effectiveness of its therapies. It also competes against much larger pharmaceutical giants such as AstraZeneca (AZN -0.44%) and Pfizer (PFE -0.33%), which have significantly greater resources for research and marketing.
Which stock would I buy in 2026?I'd go with Revolution Medicines, and this is an exciting pick. To give Amgen credit, it is a dependable, dividend-paying biotech with multiple brands growing at a double-digit rate and a raised full-year outlook. For investors who want steady, predictable healthcare exposure, it is a solid choice.
But Revolution Medicines just achieved something extraordinary. Daraxonrasib became the first targeted therapy ever approved for metastatic pancreatic cancer, one of the deadliest and hardest-to-treat cancers, after clinical data showed it cut the risk of death by more than half. This marks a potential paradigm shift in oncology. The pipeline extends into lung cancer and other RAS-driven tumors, and a new partnership with Royalty Pharma provides the funding to pursue those opportunities without diluting shareholders further.
The stock has surged and losses are widening as commercial investment ramps up. But if you're a long-term investor comfortable with biotech risk, this is an opportunity to own a company at the forefront of a genuine medical breakthrough. That's a much stronger bet than owning steady profitability alone.
Arizona State Retirement System boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 17.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,382 shares of the company’s stock after buying an additional 6,986 shares during the quarter. Arizona State Retirement System’s holdings in Revolution Medicines were worth $8,686,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. raised its holdings in shares of Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Revolution Medicines by 147.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. Deutsche Bank AG grew its position in Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in Revolution Medicines during the 2nd quarter worth about $32,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Revolution Medicines In related news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 268,497 shares of company stock worth $49,587,926 in the last ninety days. Company insiders own 7.60% of the company’s stock.
Revolution Medicines Trading Up 0.2% RVMD stock opened at $207.68 on Thursday. The company’s 50-day simple moving average is $198.08 and its 200-day simple moving average is $155.18. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 52-week low of $39.73 and a 52-week high of $224.31. The firm has a market cap of $44.51 billion, a P/E ratio of -23.55 and a beta of 1.40. Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the firm posted ($1.31) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -8.83 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth Several brokerages have recently issued reports on RVMD. Truist Financial boosted their price objective on Revolution Medicines from $231.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, August 27th. UBS Group raised their target price on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. Sanford C. Bernstein boosted their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $208.37.
View Our Latest Stock Analysis on RVMD
Revolution Medicines Profile (Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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A month has gone by since the last earnings report for Revolution Medicines, Inc. (RVMD - Free Report) . Shares have added about 6.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Revolution Medicines due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Q2 Loss Wider Than Expected, Sales NilRevolution Medicines reported an adjusted loss of $2.34 per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of $1.93.
The adjusted figure excluded a non-cash charge of $151 million tied to a change in the fair value of warrants assumed through the EQRx acquisition, which closed in 2023. Including this item, the reported loss was $3.06 per share. The company had incurred a loss of $1.31 per share in the year-ago quarter.
Currently, the company does not have any approved product in its portfolio. It generated no revenues in the quarter.
Operating Expenses See a Significant IncreaseResearch and development expenses surged 76% year over year to around $395 million. The increase reflected higher costs associated with clinical studies and manufacturing for the company’s pipeline candidates, along with increased employee-related expenses.
General and administrative expenses increased nearly 172% to more than $110 million. The increase was caused by higher personnel and stock-based compensation costs, increased commercial preparation activities and elevated administrative expenses.
2026 Expense Outlook Moves Higher AgainThe company revised its operating expenses guidance for the second time this year. It expects the figure to be between $2.1 billion and $2.2 billion, up from the previous projection of $1.7 billion to $1.8 billion.
The updated forecast includes expected non-cash stock-based compensation expenses of $270 million to $290 million compared with the prior estimate of $260 million to $280 million.
Management intends to increase spending on commercial and clinical manufacturing, expand the company’s development programs and strengthen launch readiness in the United States and international markets.
Improved Cash PositionThe company ended June with cash, cash equivalents and marketable securities of $3.9 billion, up from $1.9 billion as of March 31, 2026.
The increase was primarily driven by $2.225 billion in gross proceeds from concurrent offerings of common stock and convertible senior notes completed in April 2026. The quarter-end balance also included a $250 million payment received from Royalty Pharma in May.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -19.12% due to these changes.
VGM ScoresAt this time, Revolution Medicines has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a score of F on the value side, putting it in the bottom 20% quintile for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Revolution Medicines has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerRevolution Medicines is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Agios Pharmaceuticals (AGIO - Free Report) , a stock from the same industry, has gained 3.7%. The company reported its results for the quarter ended June 2026 more than a month ago.
Agios Pharmaceuticals reported revenues of $44.74 million in the last reported quarter, representing a year-over-year change of +259.4%. EPS of -$1.69 for the same period compares with -$1.93 a year ago.
Agios Pharmaceuticals is expected to post a loss of $1.32 per share for the current quarter, representing a year-over-year change of +25.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +10.4%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Agios Pharmaceuticals. Also, the stock has a VGM Score of F.
Revolution Medicines NASDAQ: RVMD just landed one of the biggest wins in oncology this year, and the stock barely blinked. On Aug. 26, the FDA approved RASONQUE (daraxonrasib), the first broad RAS-targeted therapy for metastatic pancreatic cancer.
Revolution Medicines Today
RVMD
Revolution Medicines
$208.45 -2.42 (-1.15%)
As of 01:21 PM Eastern
This is a fair market value price provided by Massive. Learn more.
$39.17▼
$224.31$200.74
In the pivotal RASolute 302 trial, patients on RASONQUE nearly doubled their median overall survival compared to standard chemotherapy.
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This is a genuinely rare outcome in a disease that has resisted targeted therapy for decades.
By any normal standard, that's the kind of headline that sends a biotech stock soaring. Instead, RVMD shares traded roughly flat on the day of approval. The reason is simple: investors had already bought the rumor.
RASolute 302's data was presented at oncology conferences months earlier, and the stock rallied 41% in a single day.
That gap between medical significance and market reaction is the real story here. It's also a lesson in how markets price information, not just outcomes.
The Science Is the Easy Part to BelieveRAS mutations drive more than 90% of pancreatic cancer cases, and for decades, RAS was considered "undruggable." Revolution Medicines built its entire platform around cracking that problem with its RAS(ON) tri-complex inhibitor technology, which binds the active, "on" state of the RAS protein rather than the inactive state that most earlier compounds targeted.
RASONQUE's approved label reflects just how far that platform has come. The drug is cleared for adults with metastatic pancreatic adenocarcinoma who've had at least one prior therapy, with or without an identified RAS mutation, and without requiring a companion diagnostic test.
That's a notably broad population for a targeted therapy. It's also a meaningful part of why oncologists are calling this a paradigm shift rather than an incremental improvement.
Priced in, Then Priced... Where, Exactly?Here's where the RVMD story gets more interesting than a simple "sell the news" narrative. Looking at the daily chart, RVMD isn't crashing; it's consolidating near all-time highs after an extraordinary run.
Shares recently traded around $210; down about 2% since the Aug. 26 announcement, but that's a rounding error against a stock that's up over 425% over the past 12 months and still trading near its 52-week high of $224.31. The 50-day moving average continues sloping upward, and MACD remains in bullish territory. It's what's known as a beautiful chart.
Analyst behavior tells a similar story. Since the approval, the Revolution Medicines analyst forecasts on MarketBeat show multiple firms have raised price targets, with Evercore having the most bullish target of $320. That kind of response shows that analysts had already modeled approval into estimates and are now recalibrating around what comes next: first-line expansion, additional tumor types, and peak sales assumptions.
The Competitive Picture Favors RVMD—For NowEli Lilly NYSE: LLY is often cited as RVMD's biggest threat in the RAS space, and it's a legitimate long-term competitor. But the comparison requires some precision. Lilly's lead RAS asset, olomorasib, is still in Phase 3 trials and targets only KRAS G12C-mutated tumors — a single mutation subtype. It isn't yet approved for pancreatic cancer at all.
RASONQUE, by contrast, launched with an approved label covering the broader RAS-mutant population, no diagnostic test required. Lilly does have earlier-stage G12D and pan-KRAS programs in development, along with rivals like Amgen NASDAQ: AMGN, Roche OTCMKTS: RHHBY, Merck NYSE: MRK, and Boehringer Ingelheim, all advancing their own RAS-pathway candidates.
The competitive field is real and will intensify. Today, though, Revolution Medicines holds the only broadly approved RAS-targeted therapy in pancreatic cancer, and that head start matters for capturing first-mover share in prescribing patterns.
The Bill for Building a Commercial BiotechThe one note of caution sits in the financials, not the clinical data. Revolution Medicines raised its 2026 GAAP operating expense guidance to a range of $2.1 billion to $2.2 billion as it scales manufacturing, clinical development, and commercial infrastructure simultaneously. Second-quarter net loss widened sharply to $644 million, up from $248 million a year earlier.
That's the cost of transitioning from a clinical-stage biotech to a commercial oncology company in real time. Furthermore, that kind of spending is not unusual for a first launch of this scale.
But it's worth noting that RASONQUE is currently doing the heavy lifting alone. The company's broader pipeline—additional RAS(ON) candidates across lung and colorectal cancer—is expanding, but nothing else appears close to its own approval in the near term. Investors betting on RVMD from here are effectively betting on one drug's commercial execution and label expansion, not a diversified product portfolio.
What Actually Moves This Stock From HereWith approval priced in and the "will it work" question answered, the next re-rating catalysts are execution-based rather than binary: first-line treatment expansion, additional trial readouts in lung and colorectal cancer, insurance reimbursement uptake at RASONQUE's $39,800 monthly list price, and evidence that the company can control spend as it scales commercially.
The medicine itself is a legitimate breakthrough for a disease for which patients have received almost nothing for decades. The stock's next move depends on something less dramatic: whether Revolution Medicines can turn a scientific win into a commercial one before cash burn outruns the launch.
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Results support the clinical rationale for RASolve 301, an ongoing Phase 3 trial in RAS mutant metastatic non-small cell lung cancer
REDWOOD CITY, Calif., Sept. 02, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines 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 RASONQUE (daraxonrasib), an oral, RAS(ON) multi-selective inhibitor, in patients with previously treated advanced RAS mutant non-small cell lung cancer (NSCLC).
“RAS mutations are among the most common oncogenic drivers in lung cancer, occurring in approximately 30 percent of cases. Targeted RAS inhibition has demonstrated clinical benefit in patients with RAS G12C non-small cell lung cancer following initial treatment with chemotherapy and immunotherapy, but there are no targeted therapies for patients with other RAS tumor mutations. The rates of objective response, disease control and survival observed in patients treated with RASONQUE in this Phase 1/2 study support the ongoing global, randomized pivotal RASolve 301 trial evaluating RASONQUE in previously treated RAS mutant non-small lung cancer. Together with the recent FDA approval of RASONQUE in metastatic pancreatic cancer, the data reported in the NEJM publication provide additional clinical validation of our broad RAS(ON) multi-selective and mutant-selective approach across major RAS-driven cancers,” said Alan Sandler, M.D., chief development officer of Revolution Medicines.
The results published in NEJM are based on the Phase 1/2 RMC-6236-001 trial (NCT05379985), with a July 21, 2025 data cut off. The trial evaluated the safety and efficacy of once-daily doses of RASONQUE 300 mg or less in 136 patients with second-line or later NSCLC with tumors carrying diverse RAS mutations other than RAS G12C, and whose disease had progressed following, or who were intolerant to, platinum-based chemotherapy and anti-PD-(L)1 therapy.
RASONQUE demonstrated dose-dependent antitumor activity and exhibited a manageable safety profile in the Phase 1/2 trial. Within the 160 mg to 220 mg dose group, a subgroup of 38 docetaxel-naïve patients had previously received first- or second-line platinum-based chemotherapy and anti-PD-(L)1 therapy. In this subgroup, the confirmed objective response rate was 42% (95% confidence interval [CI], 26%-59%) and a disease control rate of 89% (95% CI, 75%-97%). The median progression-free survival was 8.3 months (95% CI: 4.0-12.5) and median overall survival was 16.0 months (95% CI, 9.5-not estimable). At these dose levels, Grade 3 treatment-related adverse events (TRAEs) occurred in 25% of patients, most commonly rash (8%) and diarrhea (3%). No Grade 4 or Grade 5 TRAEs were reported within this dose range.
The results from this Phase 1/2 trial informed the design and initiation of RASolve 301 (NCT06881784), the company’s ongoing global, randomized, open-label Phase 3 trial evaluating RASONQUE compared with docetaxel in patients with previously treated, locally advanced or metastatic RAS mutant NSCLC. RASONQUE is an investigational agent for the treatment of RAS mutant NSCLC.
About Non-Small Cell Lung Cancer and RAS Mutations
Non-small cell lung cancer (NSCLC) accounts for 80%-85% of all lung cancers, with more than 229,000 people diagnosed in the U.S. each year.1,2 Despite treatment advancements, NSCLC remains a leading cause of cancer-related mortality worldwide, primarily due to its late-stage diagnosis and limited response to conventional therapies. RAS mutations are among the most common oncogenic drivers in NSCLC, occurring in approximately 30% of cases.3
About RASONQUE™ (daraxonrasib)
RASONQUE is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor, approved by the U.S. FDA for the treatment of adult patients with metastatic pancreatic adenocarcinoma (PDAC) who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
RASONQUE 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. It works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.
RASONQUE is being advanced through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant NSCLC. Outside the U.S., RASONQUE is an investigational agent that has not been approved by any regulatory authority.
U.S. FDA APPROVED INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
IMPORTANT SAFETY INFORMATION FOR U.S. APPROVED INDICATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
WARNINGS AND PRECAUTIONS
Dermatologic and Soft Tissue Toxicity
RASONQUE can cause dermatologic toxicity, which may be severe. Clinical manifestations included, but were not limited to, rash, pruritus, paronychia, dry skin, and skin fissures. In clinical trials of patients with pancreatic adenocarcinoma, dermatologic toxicity occurred in 86% of patients treated with RASONQUE, of which 10% were Grade 3.
Monitor patients who develop dermatologic or soft tissue toxicities while receiving RASONQUE. Initiate prophylactic measures (e.g., topical corticosteroids, emollient creams, sunscreen, oral antibiotics) prior to the first dose of RASONQUE to reduce the risk of moderate to severe dermatologic reactions. Advise patients to limit sun exposure while taking RASONQUE. Initiate supportive measures (e.g., oral corticosteroids) as clinically indicated, and consider dermatologic consultation. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Stomatitis and Oral Disorders
RASONQUE can cause stomatitis, including mouth ulcers and oral mucositis. In clinical trials of patients with pancreatic adenocarcinoma, stomatitis occurred in 57% of patients, of which 9% were Grade 3.
Monitor patients for signs and symptoms of stomatitis while receiving RASONQUE. Initiate a steroid-containing mouthwash for treatment of stomatitis and administer other topical treatments (e.g., chlorhexidine mouthwash, 2% lidocaine viscous) as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Diarrhea
RASONQUE can cause diarrhea. In clinical trials of patients with pancreatic adenocarcinoma, diarrhea occurred in 63% of patients, of which 6% were Grade 3.
If diarrhea occurs, administer antidiarrheal treatment as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Gastrointestinal Perforation
RASONQUE can cause gastrointestinal perforation. In clinical trials of patients with pancreatic adenocarcinoma, gastrointestinal perforation occurred in 0.9% of patients treated with RASONQUE, of which 0.5% were Grade 3, one event was Grade 4, and one event was fatal.
Monitor patients for gastrointestinal perforation. Withhold RASONQUE if gastrointestinal perforation is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of gastrointestinal perforation are identified.
Interstitial Lung Disease (ILD)/Pneumonitis
RASONQUE can cause interstitial lung disease or pneumonitis. In clinical trials of patients with pancreatic adenocarcinoma, ILD/pneumonitis occurred in 2.4% of patients treated with RASONQUE, of which 0.9% were Grade 3, and one event was fatal.
Monitor patients for new or worsening pulmonary symptoms. Withhold RASONQUE if ILD/pneumonitis is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of ILD/pneumonitis are identified.
Embryo-Fetal Toxicity
Based on findings in animals, RASONQUE can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose. Advise males with female partners of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
Adverse reactions leading to permanent discontinuation of RASONQUE occurred in 2.9% of patients, including two patients who discontinued due to rash (0.8%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
DRUG INTERACTIONS
Strong CYP3A Inhibitors with P-gp Inhibition: Avoid concomitant use.Strong CYP3A Inhibitors without P-gp Inhibition: Reduce RASONQUE dosage.Moderate CYP3A Inhibitors with or without P-gp Inhibition: Reduce RASONQUE dosage.P-gp Inhibitors: Reduce RASONQUE dosage.Cyclosporine A: Avoid concomitant use.Strong CYP3A Inducers: Avoid concomitant use. Increase RASONQUE dosage if concomitant use cannot be avoided.Moderate CYP3A Inducers: Increase RASONQUE dosage.P-gp Substrates: Take at least 4 hours apart from RASONQUE.
PROPHYLACTIC MEASURES
When initiating RASONQUE and throughout treatment, prophylactic and concomitant medications are recommended to reduce the risk of dermatologic reactions:
administer a topical corticosteroid (applied to the face and chest) and emollient creamsadvise patients to limit sun exposure and use broad-spectrum sunscreen (SPF 30 or higher)consider prophylactic oral antibiotics (e.g., doxycycline or minocycline)
Please see U.S. Full Prescribing Information for RASONQUE
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; RASONQUE becoming a standard of care; treatment practices for pancreatic cancer; 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 August 5, 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.
____________________
1 American Cancer Society. What Is Lung Cancer. Available at: https://www.cancer.org/cancer/types/lung-cancer/about/what-is.html. Accessed August 2026.
2 American Cancer Society. Key Statistics for Lung Cancer. Available at: https://www.cancer.org/cancer/types/lung-cancer/about/key-statistics.html. Accessed August 2026.
3 Reita D, Pabst L., Pencreach E, et al. Direct Targeting KRAS Mutation in Non-Small Cell Lung Cancer: Focus on Resistance. Cancers (Basel). 2022; 14(15):1321. doi: 10.3390/cancers14051321.
Revolution Medicines maintains a strong buy rating following FDA approval of RASONQUE for 2nd-line metastatic PDAC, with significant expansion opportunities ahead. Company's pipeline includes zoldonrasib, targeting G12D-mutant PDAC and NSCLC, with two pivotal phase 3 trials underway in 1st-line settings, leveraging strong prior efficacy data. The company holds $3.9B in cash, supported by recent financings and a $2B Royalty Pharma agreement, providing at least 12 months of operational runway.
Imagine running a fund for 30 years, including during the aftermath of the dot-com bubble bursting and the financial crisis of 2008, without a single losing year. If you're Stanley Druckenmiller, no imagination is required. He achieved this feat for Duquesne Capital Management between 1981 and 2010, delivering an average annual return of roughly 30%.
Druckenmiller no longer runs Duquesne Capital Management after deciding to close shop in 2010. However, he does manage the Duquesne Family Office, a private investment firm that handles his and his family's money.
With such an impressive track record, many investors understandably pay attention to which stocks Druckenmiller likes. And the billionaire continues to load up on Revolution Medicines (RVMD -6.00%), a biotech stock for which analysts have only modest near-term growth expectations. Does Druckenmiller know something that Wall Street doesn't?
Stanley Druckenmiller. Image source: Getty Images.
Don't get me wrong: Wall Street likes Revolution Medicines. Of the 22 analysts surveyed by S&P Global (SPGI +1.72%) in August, 21 rated the stock as a "buy" or "strong buy." The lone outlier recommended holding it.
However, Revolution Medicines' share price has skyrocketed over the last 12 months. Analysts don't seem to think that this impressive momentum can continue. The consensus 12-month price target reflects only around 7% upside.
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But Druckenmiller increased his family office's stake in Revolution Medicines by 26.5% in the second quarter of 2026. He initiated a position in the biotech innovator the previous quarter.
What does the super-successful investor like about Revolution? There's a simple answer to the question: the company's pipeline.
Revolution Medicines awaits U.S. Food and Drug Administration (FDA) approval of daraxonrasib for previously treated metastatic pancreatic cancer. The company filed for FDA approval of the drug earlier this year after reporting positive results from a Phase 3 clinical trial. Revolution has also filed for European approval of daraxonrasib.
Analysts' peak annual sales projections for the drug range from $5 billion to $7.6 billion, assuming it's approved to treat pancreatic cancer. Revolution Medicines is evaluating daraxonrasib in a late-stage study to treat non-small cell lung cancer (NSCLC).
The company's pipeline also features other promising candidates. Revolution is evaluating zoldonrasib in late-stage trials for treating both pancreatic cancer and NSCLC. It's planning to advance elironrasib into a Phase 3 study targeting first-line NSCLC later this year. And Revolution has reported encouraging results from a Phase 1/2 study of RMC-5127 for the treatment of solid tumors.
Does Druckenmiller know a secret? It's doubtful that Druckenmiller knows anything about Revolution Medicines that Wall Street analysts don't know. What he does have that they don't, though, is a long-term perspective. He is focused on the future rather than the present and the past.
With a market cap hovering around $45 billion and no approved products yet, buying Revolution Medicines stock isn't for the faint of heart. But Druckenmiller likes to swing for the fence. If daraxonrasib wins approval, his strategy could pay off handsomely.
The U.S. FDA has approved Revolution Medicines' (RVMD.O) groundbreaking pancreatic cancer drug after it was shown to double the survival rate of patients with advanced disease in a large trial, offering new hope to those with the deadly cancer.
The once-daily pill, to be called Rasonque, was approved for metastatic pancreatic cancer in patients who have received prior treatment or cannot receive combination chemotherapy. The drug is designed to block several forms of the RAS protein, which helps drive tumor growth in many pancreatic cancers.
Revolution said the drug is now available in the United States at $39,800 for a 30-day supply. The company added that it would make assistance available as well.
When Revolution announced the trial results in April for the drug, it set off a firestorm of demand. The FDA quickly granted early access to it under its compassionate use program, which allows patients with serious or life-threatening conditions to get experimental treatments outside clinical trials prior to authorization by the regulator.
The treatment has already offered some patients with early access to the drug a reprieve from the toll of chemotherapy.
Barbara Andes, 88, of Fullerton, California, who began taking it in July after a year of chemotherapy, said the pill allowed her to resume regular activities and caused far less nausea and fatigue.
"It's going to open this door now commercially for so many, many more people who are suffering," Andes said. "It's a godsend."
SPEEDY REVIEW
The drug was part of the Food and Drug Administration's new expedited review process, designed to shrink timelines to as little as one to two months from the usual 10 to 12.
"This approval validates more than a decade of work aimed at pancreatic cancer, primarily RAS-driven disease, and one of the most difficult challenges in medicine, cancer biology, and drug discovery," Revolution CEO Mark Goldsmith said.
Investors have flocked to Revolution on expectations that Rasonque could become a major new treatment option, driving the company's stock up 166% this year. Its approval was widely expected and Revolution shares were relatively flat at $211.70.
RBC Capital Markets analysts said the rapid approval, along with more than 2,000 patients already enrolled in the Expanded Access Program, could help drive an estimated $28 million in U.S. pancreatic cancer revenue in the third quarter. Fourth-quarter sales could reach $148 million.
Longer term, the analysts estimated the drug could generate $11.5 billion in annual global sales. The American Cancer Society estimates about 67,350 patients to be diagnosed with pancreatic cancer this year.
DOCTORS HAIL BREAKTHROUGH
Doctors expect Rasonque to transform how they tackle a disease that has been very difficult to treat.
"This is just the tip of the iceberg in terms of what we're going to see in terms of targeting the RAS pathway for pancreas cancer," said Rachna Shroff, chief of hematology and oncology at the University of Arizona Cancer Center.
"Not only did people live longer, but their quality of life improved," Shroff said, noting that patients stayed on the drug longer than they did on chemotherapy.
Peter Hosein, associate director for clinical research at the Pancreatic Cancer Research Institute at Sylvester Comprehensive Cancer Center, described it as a paradigm shift.
"Researchers have been trying to make a breakthrough in RAS inhibition for decades and, due to unrelenting persistence, this breakthrough is finally here," he said.
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RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapyIn the Phase 3 RASolute 302 trial, RASONQUE reduced the risk of death by 60% and demonstrated an unprecedented overall survival benefit compared with chemotherapy, with statistically significant and clinically meaningful improvements across all primary and key secondary endpointsIn the RASolute 302 trial, RASONQUE demonstrated manageable safety and a favorable tolerability profile compared to chemotherapy, and improved maintenance of patient-reported quality of life measuresOnce-daily oral RASONQUE tablets now available by prescription in the U.S., with comprehensive patient support offered through the company’s (ON)Path™ program Company to host webcast today, August 26, at 1:30 p.m. Eastern TimeThis release contains multimedia assets available for download here
REDWOOD CITY, Calif., Aug. 26, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a global commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) has approved RASONQUE (daraxonrasib) once-daily oral tablets, for the treatment of adults with metastatic pancreatic adenocarcinoma (PDAC) who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.1 RASONQUE represents the first targeted cancer medicine to be approved from a groundbreaking new class of RAS(ON) multi-selective and mutant-selective inhibitors.
Pancreatic cancer is among the most challenging malignancies, frequently presenting with a late diagnosis, aggressive biology and limited responsiveness to conventional treatments. RAS, a key growth control switch in human cells, is the main cause of pancreatic cancer, which is characterized by excessive RAS signaling. The approval of RASONQUE is for adults with metastatic PDAC with or without an identified RAS tumor mutation and does not require use of a companion diagnostic test.
“The FDA approval of RASONQUE is a monumental step forward for patients with pancreatic cancer and for the oncology field. For the first time, patients have an approved targeted medicine designed to directly inhibit the main cause of pancreatic cancer, RAS, which has been one of the most intractable disease targets since its discovery decades ago. The unprecedented results of the global Phase 3 trial position RASONQUE to become the new standard of care for patients with metastatic pancreatic cancer under an approved label that supports real-world clinical decision-making. This approval further validates our bold RAS(ON) inhibitor strategy that includes multi-selective and mutant-selective approaches targeting a major driver of pancreatic cancer and multiple other cancers. We continue to engage with global regulatory authorities with the goal of expanding and accelerating the reach of RASONQUE,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.
“Today’s landmark approval is the most significant advance we have seen in the fight against pancreatic cancer, a devastating disease. I believe this drug will transform how pancreatic cancer is treated, giving people the opportunity for more time with loved ones, the possibility of a better quality of life and optimism that continued research may lead to even greater advances,” said Anna Berkenblit, M.D., chief scientific and medical officer of the Pancreatic Cancer Action Network (PanCAN). “In addition, an oral pill can offer a less burdensome treatment experience than standard intravenous chemotherapy. PanCAN will continue to empower patients and caregivers with the resources and knowledge they need to advocate for the care they deserve now that RASONQUE is available for doctors to prescribe.”
“I believe daraxonrasib is well positioned to become a new standard of care for adults with metastatic pancreatic cancer who have already received at least one systemic therapy or who are not candidates for multiagent systemic therapy. For decades, despite RAS being the main driver and potential drug target for pancreatic cancer, physicians have largely relied on intravenous cytotoxic chemotherapy to treat this aggressive disease. This approval gives physicians the confidence that directly inhibiting RAS can make a striking difference for patients and provides a critically needed new approach to treating patients with metastatic pancreatic cancer,” added Brian M. Wolpin, M.D., M.P.H., director of the Hale Family Center for Pancreatic Cancer Research at Dana-Farber Cancer Institute, professor of medicine at Harvard Medical School, and principal investigator for the RASolute 302 trial.
RASolute 302: Phase 3 Clinical Trial Results Supporting FDA Approval
The FDA approval of RASONQUE is based on data from RASolute 302, a global, randomized Phase 3 trial evaluating RASONQUE versus investigator’s choice of cytotoxic chemotherapy in patients with previously treated metastatic PDAC. The trial met all primary and key secondary endpoints in both the RAS G12 mutant population and the overall intent-to-treat (ITT) population, which included patients with or without an identified tumor RAS mutation. 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.
In the ITT population, RASONQUE reduced the risk of death by 60% compared with chemotherapy, with a hazard ratio (HR) of 0.40 (95% confidence interval [CI]: 0.30–0.53; p<0.0001). The median overall survival was 13.2 months (95% CI: 10.0–NE) with RASONQUE compared to 6.7 months (95% CI: 5.8–8.0) for chemotherapy. RASONQUE also showed significant improvements in progression-free survival (PFS) with an HR of 0.49 (95% CI: 0.38–0.64; p<0.0001). The median PFS was 7.2 months (95% CI: 5.7–7.5) with RASONQUE compared to 3.6 months (95% CI: 2.9–4.2) with chemotherapy. Results were generally consistent in the RAS G12 population.
RASONQUE demonstrated manageable safety and a favorable tolerability profile. The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage. Please see the Important Safety Information for RASONQUE below.
The trial also evaluated patient-reported outcomes in the ITT population, given the high symptom burden that patients with metastatic PDAC experience. Patients who received RASONQUE demonstrated a statistically significant and clinically meaningful delay in time to deterioration (TTD) for global health status and pain when compared to chemotherapy. RASONQUE prolonged the maintenance of global health status and quality of life, with a median TTD of 5.7 months versus 2.6 months with chemotherapy (HR=0.60 [95% CI: 0.46–0.79]; p<0.001). Additionally, RASONQUE delayed the worsening of clinically relevant pain, demonstrating a median TTD of 9.2 months compared to 3.8 months with chemotherapy (HR=0.51 [95% CI: 0.37–0.71]; p<0.001).
RASONQUE U.S. Availability and Patient Support
RASONQUE, approved as a 300 mg once-daily oral medicine, is now available in the U.S. for physicians to prescribe. The company today also announced the launch of (ON)Path, a comprehensive program available to patients who have been prescribed RASONQUE. The program can help with navigating insurance, financial assistance, and treatment education to ensure that patients can start and stay on their medication. More information is available at RASONQUE.com.
Company Webcast
Revolution Medicines will host a webcast on August 26, 2026, at 1:30 p.m. Eastern Time. To listen to the live webcast, or access the archived webcast, please visit: https://ir.revmed.com/events-and-presentations. Following the live webcast, a replay will be available on the company’s website for at least 14 days.
About Pancreatic Adenocarcinoma
Pancreatic adenocarcinoma, or PDAC, is the most common form of pancreatic cancer and among the most challenging malignancies. Approximately 55,000 people are diagnosed with PDAC in the U.S. each year, and more than 50,000 die from the disease with current standard of care.2,3 Because early-stage pancreatic cancer often causes few or no symptoms, approximately 80% of patients are diagnosed after the disease has spread, when treatment options are more limited. For patients with metastatic PDAC, the five-year relative survival rate is approximately 3% in the U.S.4,5
About RASONQUETM (daraxonrasib)
RASONQUE is an oral, RAS(ON) multi-selective, noncovalent, tri-complex inhibitor, designed to target cancers driven by a broad range of common RAS genotypes, including pancreatic adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC), and colorectal cancer. RASONQUE works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.
RASONQUE was approved by the U.S. FDA for the treatment of adults with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy and is being advanced through a global Phase 3 registrational program in patients with PDAC and metastatic RAS mutant NSCLC.
RASONQUE 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 RASONQUE new drug application is included in the FDA’s Project Orbis initiative, which provides a framework for concurrent review of oncology applications by participating international authorities. The FDA granted RASONQUE Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic PDAC, as well as Breakthrough Therapy Designation for the treatment of adult patients with previously treated, locally advanced or metastatic NSCLC with KRAS mutations other than G12C who have received prior platinum-based chemotherapy and anti-PD-(L)1 antibody therapy.
Outside the U.S., daraxonrasib is an investigational agent that has not been approved by any regulatory authority. 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 received orphan medicinal product designation for pancreatic cancer and high-priority status under EMA’s Cancer Medicines Pathfinder project based on its potential to address a significant unmet need.
About the RASolute 302 Clinical Trial
RASolute 302 (NCT06625320) was a global, randomized Phase 3 registrational clinical trial designed to evaluate the efficacy and safety of RASONQUE as a monotherapy in patients with previously treated metastatic pancreatic adenocarcinoma (PDAC). In the trial, patients were randomized to receive either an oral dose of 300 mg RASONQUE once daily or investigator’s choice of four different cytotoxic chemotherapy regimens, which represented 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.
U.S. INDICATION
RASONQUE is indicated for the treatment of adult patients with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multiagent systemic therapy.
IMPORTANT SAFETY INFORMATION
RASONQUE is associated with the following Warnings and Precautions: Dermatologic and Soft Tissue Toxicity, Stomatitis and Oral Disorders, Diarrhea, Gastrointestinal Perforation, Interstitial Lung Disease (ILD)/Pneumonitis, and Embryo-Fetal Toxicity.
WARNINGS AND PRECAUTIONS
Dermatologic and Soft Tissue Toxicity
RASONQUE can cause dermatologic toxicity, which may be severe. Clinical manifestations included, but were not limited to, rash, pruritus, paronychia, dry skin, and skin fissures. In clinical trials of patients with pancreatic adenocarcinoma, dermatologic toxicity occurred in 86% of patients treated with RASONQUE, of which 10% were Grade 3.
Monitor patients who develop dermatologic or soft tissue toxicities while receiving RASONQUE. Initiate prophylactic measures (e.g., topical corticosteroids, emollient creams, sunscreen, oral antibiotics) prior to the first dose of RASONQUE to reduce the risk of moderate to severe dermatologic reactions. Advise patients to limit sun exposure while taking RASONQUE. Initiate supportive measures (e.g., oral corticosteroids) as clinically indicated, and consider dermatologic consultation. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Stomatitis and Oral Disorders
RASONQUE can cause stomatitis, including mouth ulcers and oral mucositis. In clinical trials of patients with pancreatic adenocarcinoma, stomatitis occurred in 57% of patients, of which 9% were Grade 3.
Monitor patients for signs and symptoms of stomatitis while receiving RASONQUE. Initiate a steroid-containing mouthwash for treatment of stomatitis and administer other topical treatments (e.g., chlorhexidine mouthwash, 2% lidocaine viscous) as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Diarrhea
RASONQUE can cause diarrhea. In clinical trials of patients with pancreatic adenocarcinoma, diarrhea occurred in 63% of patients, of which 6% were Grade 3.
If diarrhea occurs, administer antidiarrheal treatment as clinically indicated. Withhold, reduce the dose, or permanently discontinue RASONQUE based on severity.
Gastrointestinal Perforation
RASONQUE can cause gastrointestinal perforation. In clinical trials of patients with pancreatic adenocarcinoma, gastrointestinal perforation occurred in 0.9% of patients treated with RASONQUE, of which 0.5% were Grade 3, one event was Grade 4, and one event was fatal.
Monitor patients for gastrointestinal perforation. Withhold RASONQUE if gastrointestinal perforation is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of gastrointestinal perforation are identified.
Interstitial Lung Disease (ILD)/Pneumonitis
RASONQUE can cause interstitial lung disease or pneumonitis. In clinical trials of patients with pancreatic adenocarcinoma, ILD/pneumonitis occurred in 2.4% of patients treated with RASONQUE, of which 0.9% were Grade 3, and one event was fatal.
Monitor patients for new or worsening pulmonary symptoms. Withhold RASONQUE if ILD/pneumonitis is suspected. Reduce the dose or permanently discontinue RASONQUE if no other potential causes of ILD/pneumonitis are identified.
Embryo-Fetal Toxicity
Based on findings in animals, RASONQUE can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose. Advise males with female partners of reproductive potential to use effective contraception during treatment with RASONQUE and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in 30% of patients treated with RASONQUE. Serious adverse reactions occurring in ≥ 2% of patients treated with RASONQUE were diarrhea (3.7%), pyrexia (3.3%), sepsis (2.9%), fatigue (2.1%), and hemorrhage (2.1%).
Adverse reactions leading to permanent discontinuation of RASONQUE occurred in 2.9% of patients, including two patients who discontinued due to rash (0.8%).
The most common (≥ 20%) adverse reactions in patients treated with RASONQUE were rash, diarrhea, stomatitis, nausea, fatigue, vomiting, abdominal pain, edema, decreased appetite, and hemorrhage.
DRUG INTERACTIONS
Strong CYP3A Inhibitors with P-gp Inhibition: Avoid concomitant use.Strong CYP3A Inhibitors without P-gp Inhibition: Reduce RASONQUE dosage.Moderate CYP3A Inhibitors with or without P-gp Inhibition: Reduce RASONQUE dosage.P-gp Inhibitors: Reduce RASONQUE dosage.Cyclosporine A: Avoid concomitant use.Strong CYP3A Inducers: Avoid concomitant use. Increase RASONQUE dosage if concomitant use cannot be avoided.Moderate CYP3A Inducers: Increase RASONQUE dosage.P-gp Substrates: Take at least 4 hours apart from RASONQUE.PROPHYLACTIC MEASURES
When initiating RASONQUE and throughout treatment, prophylactic and concomitant medications are recommended to reduce the risk of dermatologic reactions:
administer a topical corticosteroid (applied to the face and chest) and emollient creamsadvise patients to limit sun exposure and use broad-spectrum sunscreen (SPF 30 or higher)consider prophylactic oral antibiotics (e.g., doxycycline or minocycline)Please see here for full Prescribing Information.
About Revolution Medicines, Inc.
Revolution Medicines is a global, commercial-stage oncology company dedicated to discovering, developing and delivering innovative medicines for patients with RAS-addicted cancers. Leveraging its differentiated RAS(ON) tri-complex inhibitor platform, the company is advancing a broad, integrated portfolio of oral RAS(ON) inhibitors designed to directly target the active, cancer-driving state of RAS. Founded on rigorous scientific inquiry and a willingness to challenge long-held assumptions, Revolution Medicines is committed to changing the trajectory of disease for patients with RAS-addicted cancers worldwide. For more information, visit www.revmed.com and follow Revolution Medicines on LinkedIn, X (Twitter) and Instagram.
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; RASONQUE becoming a standard of care, including that daraxonrasib will transform how PDAC is treated; the results of continued research; treatment experience of daraxonrasib; treatment practices for pancreatic cancer; regulatory filings, including our ability to expand and accelerate the potential reach of RASONQUE; commercial launch, product availability, payer coverage and reimbursement, and patient uptake; the timing and outcome of the EMA phased review and other regulatory filings outside the U.S.; 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, risks associated with the commercial launch of RASONQUE, including product availability, supply, payer coverage and reimbursement, and patient uptake, the timing and outcome of regulatory reviews outside the U.S., 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 August 5, 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.
RASONQUE (daraxonrasib) Prescribing Information. Redwood City, CA: Revolution Medicines, Inc.; August 2026.Oracle CancerMPact Patient Metrics, Stage IV newly incident + recurrent from earlier stages. Accessed July 2026.Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820Halbrook 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
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 August 2026.
Propanc Biopharma Inc. (NASDAQ:PPCB) stock surged on Thursday after compelling preclinical and early translational data for its primary drug candidate, PRP, focused on treating pancreatic ductal adenocarcinoma.
The biopharmaceutical company reported that PRP significantly inhibited tumor progression and extended overall survival rates in advanced animal models of the disease.
Exceptional Preclinical Tumor InhibitionIn advanced orthotopic and patient-derived xenograft models, administering PRP intravenously three times weekly delivered a mean tumor growth inhibition of over 90% compared to vehicle controls.
The therapy also markedly diminished metastatic spread within the liver and peritoneum. Furthermore, the data highlighted PRP’s ability to remodel the tumor microenvironment.
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The treatment reduced cancer-associated fibroblast activity, minimized fibrosis, and suppressed epithelial-mesenchymal transition markers.
PRP also heightened the sensitivity of chemo-resistant pancreatic cancer cells to standard therapies, supporting the use of lower chemotherapy doses.
Ultimately, treated animals achieved a median overall survival extension of more than 2.5-fold compared to control subjects.
Distinct Non-Cytotoxic MechanismWhile Revolution Medicines Inc. (NASDAQ:RVMD) recently achieved notable Phase 3 success with its daraxonrasib inhibitor for previously treated metastatic cases, Propanc emphasizes that PRP utilizes a fundamentally distinct mechanism.
In a 500-patient trial, daraxonrasib achieved median overall survival of 13.2 months versus 6.6–6.7 months with chemotherapy (~60% reduction in risk of death), median progression-free survival of 7.2–7.3 months versus 3.5–3.6 months, and objective response rates of approximately 32% versus 11%.
PRP operates as a proprietary, fixed-ratio combination of two pancreatic proenzymes: trypsinogen and chymotrypsinogen.
Instead of relying on cytotoxic pathway inhibition, PRP encourages malignant cells to revert toward a normal phenotype.
The therapy reverses epithelial-mesenchymal transition, suppresses metastasis, and directly targets cancer stem cells.
On Wednesday, the FDA approved Rasonque (daraxonrasib) for metastatic PDAC.
Upcoming Clinical MilestonesPropanc continues to advance its GMP manufacturing and pharmacokinetics assay validation.
The company aims to submit a clinical trial application in the coming months, preparing for a Phase 1b study involving 40 to 45 patients with advanced solid tumors.
PPCB Stock Price Activity: Propanc Biopharma shares were up 205.60% at $3.26 at the time of publication on Thursday, according to Benzinga Pro data.
SELLAS Life Sciences Group Inc. (NASDAQ:SLS) stock is trading higher on Thursday. Year-to-date, the stock has surged by around 300%.
FDA Approval Catalyst For Pancreatic CancerSLS’s momentum on Thursday may be related to the U.S. Food and Drug Administration (FDA) on Wednesday approving Revolution Medicines Inc.’s (NASDAQ:RVMD) Rasonque (daraxonrasib) for metastatic pancreatic adenocarcinoma (PDAC). Revolution Medicines’ stock is up over 2% on Thursday.
Specifically, it targets patients who previously underwent at least one systemic therapy or those ineligible for multiagent systemic treatment.
Rasonque marks the first approved targeted cancer therapy from a new class of RAS(ON) multi-selective and mutant-selective inhibitors.
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SLS009 Preclinical Potential In Solid TumorsInvestors should note that SELLAS is developing SLS009 primarily for earlier-line acute myeloid leukemia (AML) with a potential for expansion into solid cancers.
SLS009 has demonstrated the ability to act as a single agent in PDAC cells largely resistant to leading RAS inhibitors and to synergize with the RAS inhibition mechanism of action.
The data from these preclinical experiments are expected to be presented at an upcoming medical conference.
Phase 2 AML Trial Progress And MilestonesSELLAS also highlighted progress with SLS009, including the launch of an 80-patient Phase 2 study in newly diagnosed AML patients considered unlikely to benefit from standard therapies such as AZA/VEN treatment.
Topline data from the study are expected in the fourth quarter of 2026.
According to SELLAS, the data also showed reductions in MCL-1 and surviving levels following treatment.
SLS Stock Price Activity: SELLAS Life Sciences shares were up 10.38% at $15.15 on Thursday, according to Benzinga Pro data.
Photo: lucadp / Shutterstock – ek
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Key Takeaways Revolution Medicines won FDA approval for Rasonque in previously treated metastatic pancreatic cancer.Rasonque cut death risk 60% versus chemotherapy and nearly doubled median overall survival.Once-daily oral dosing and better quality-of-life results could make the drug an alternative to chemotherapy. Revolution Medicines (RVMD - Free Report) announced that the FDA has approved its RAS inhibitor daraxonrasib for previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC). The drug will be marketed under the brand name Rasonque.
Why the Approval Is a Big Deal for RVMDThe approval marks a major inflection point for Revolution Medicines, making Rasonque the company’s first marketed product and transforming it from a clinical-stage biotech into a commercial-stage oncology company.
The FDA’s decision is supported by data from the phase III RASolute 302 study, which met all its primary and secondary endpoints. Recently, Revolution Medicines reported full results from this study, which showed that daraxonrasib reduced the risk of death by 60% compared with cytotoxic chemotherapy and nearly doubled median overall survival. The treatment also significantly improved progression-free survival and quality-of-life measures.
Beyond its efficacy, however, Rasonque could have another important advantage over chemotherapy — greater convenience of administration. The drug is available as a once-daily oral tablet, whereas the chemotherapy regimens used in RASolute 302 required intravenous administration.
As a result, Rasonque could challenge cytotoxic chemotherapy as a preferred treatment option in previously treated metastatic PDAC, an area with limited treatment options. Its combination of once-daily oral administration, improved clinical outcomes and favorable patient-reported quality-of-life results could make it an attractive alternative to conventional chemotherapy in this setting.
The approval comes a month after the FDA accepted the regulatory submission for the drug. The agency reviewed the filing under the Commissioner’s National Priority Voucher pilot program, which is designed to accelerate the review process and targets a review timeline of one to two months.
RVMD Stock’s Price PerformanceDespite the positive announcement, investor reaction to the stock remained muted yesterday. This was likely due to the wholesale acquisition cost of $39,800 set by the company for a 30-day supply of the drug, which was higher than what investors had initially been expecting.
Year to date, the company’s shares have skyrocketed 177% compared with the industry’s 12% growth.
Image Source: Zacks Investment Research
FDA Approval Validates RVMD’s RAS PipelineThe approval also strengthens Revolution Medicines’ position in RAS-driven cancers and provides a commercial foundation for advancing its broader oncology pipeline. Rasonque is designed to target a broad spectrum of RAS-driven cancers, including PDAC, non-small cell lung cancer (NSCLC) and colorectal cancer.
Beyond the currently approved indication, Revolution Medicines is evaluating the drug inseveral other PDAC settings in late-stage studies. 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.
The company is also conducting the phase III RASolve 301 study, which is evaluating Rasonque in patients with locally advanced or metastatic RAS-mutated NSCLC. Initial data from this study are expected next year.
Revolution Medicines is also developing mutant-selective inhibitors like elironrasib and zoldonrasib that are designed to suppress the growth of specific RAS-bearing cancer cells. Zoldonrasib, which targets RAS G12D, is advancing across multiple late-stage programs for PDAC and NSCLC indications. RVMD intends to move elironrasib, which targets RAS G12C, into late-stage development in NSCLC before the end of this year.
To further strengthen its position in RAS-driven cancers, Revolution Medicines has established multiple clinical collaborations to evaluate Rasonque 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 RankRevolution Medicines currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Revolution Medicines, Inc. (RVMD) Discusses FDA Approval of RASONQUE for Metastatic Pancreatic Cancer and Implications for RAS-Driven Therapy Transcript
Within weeks of submitting its promising daraxonrasib to the Food and Drug Administration (FDA), Revolution Medicines (RVMD -6.00%) won full approval from the American regulator on Wednesday. That's lightning-quick for getting a green light in this country, and it brought significant attention to the company. It also, unsurprisingly, gave the biotech a meaty share price pop. Daraxonrasib, which has been brand-named Rasonque, is undoubtedly a high-potential drug. But has it propelled the company's stock into overvalued territory?
Image source: Getty Images.
The breakout of a breakthrough drugRasonque, which is administered once daily as a pill, was approved to treat metastatic pancreatic cancer in adults who have either received prior systemic therapy for the disease or are ineligible for combination therapy.
It's a new breed of cancer drug that works by blocking several forms of the RAS protein (a sort of on-off switch that regulates cell growth) and using a novel "molecular glue" mechanism.
Pancreatic cancer is a notoriously difficult form of the disease to treat. As such, Rasonque was an appropriate drug candidate for the Commissioner's National Priority Voucher (CNPV) program. This initiative, launched last year, aims to reduce the FDA's drug approval process from the typical ten months to one year to a matter of weeks. Only a limited number of vouchers are available under the program; Revolution's then-developmental treatment received one shortly after the company filed its application.
In the press release heralding the FDA's nod, the biotech quoted CEO Mark Goldsmith as saying that Rasonque "is a monumental step forward for patients with pancreatic cancer and for the oncology field."
"This approval further validates our bold RAS(ON) inhibitor strategy that includes multi-selective and mutant-selective approaches targeting a major driver of pancreatic cancer and multiple other cancers," he added.
Success in the labRevolution landed on the radar of many investors and healthcare professionals in April. That's when the biotech presented Phase 3 data for the drug, demonstrating statistically significant and clinically meaningful improvements across all primary and secondary endpoints. It also compared very well with traditional chemotherapy and was well tolerated, with a manageable safety and quality-of-life profile.
Any drug performing that well in a late-stage trial will attract the right kind of attention. What compounded this exponentially for Revolution is that it treats a form of cancer -- an understandably high-demand segment of the market -- and does so in a novel and clearly efficacious way. From that April readout to now, Revolution's stock has largely been on a rocket ride to the heavens. Zooming out a bit, it's risen a massive 178% in price year to date, compared to under 13% for the benchmark S&P 500 index.
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Looks like a buy, even at the highFew Revolution-watchers doubt that Rasonque has immense potential. Analysts at RBC Capital Markets estimate that the drug could reach $28 million in sales this quarter, and it has only just received its green light. Looking ahead, RBC believes it could book $11.5 billion in annual sales worldwide. It's almost certain to be approved in numerous other jurisdictions, and some might be close at hand -- in early July, the 27-member European Union's European Medicines Agency granted its form of accelerated review to Revolution's application.
I think that annual sales estimate might even be modest. That's because Revolution designed Rasonque as a broad-spectrum RAS inhibitor that could ideally treat similar malignancies; estimates place RAS mutations at 30% of all solid tumors. The company is actively working on a label-expansion strategy to earn approval for the drug to treat other cancers.
To me, then, with Rasonque in its portfolio, Revolution has a very high ceiling as a business, and therefore as a stock. It's still looking very much like a compelling buy candidate to me.
Revolution Medicines NASDAQ: RVMD said the U.S. Food and Drug Administration has approved daraxonrasib under the brand name RASONQUE for certain adults with metastatic pancreatic adenocarcinoma.
The oral, once-daily RAS(ON) multi-selective inhibitor is approved for adults with metastatic pancreatic adenocarcinoma who have received at least one prior systemic therapy or who are not candidates for multi-agent systemic therapy. The indication is not limited by tumor RAS mutation status, and no companion diagnostic is required, the company said.
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Approval Based on Phase III Survival Data The approval was supported by the global Phase III RASolute 302 study, which compared RASONQUE monotherapy with standard cytotoxic chemotherapy in previously treated metastatic pancreatic cancer. Alan Sandler, Revolution Medicines’ chief development officer, said the study showed a 60% reduction in the risk of death and nearly doubled median overall survival versus chemotherapy.
Sandler said RASONQUE also produced a statistically significant improvement in progression-free survival, as assessed by blinded independent central review. In addition, patients receiving RASONQUE experienced a significant delay in deterioration of patient-reported pain and overall quality-of-life measures compared with chemotherapy.
The company said it identified no new safety signals in RASolute 302 relative to earlier studies. Treatment-emergent adverse events were generally manageable through established management and dose-modification strategies, while treatment discontinuations due to adverse events were substantially less frequent than with chemotherapy, according to Sandler.
Results from RASolute 302 were presented at the 2026 ASCO Congress in May and published simultaneously in the New England Journal of Medicine, Sandler said.
Commercial Launch Begins in the U.S. RASONQUE is commercially available in the United States beginning immediately. Anthony Mancini, chief global commercialization officer, said the medicine carries a wholesale acquisition cost of $39,800 for a 30-day supply at the recommended daily dose.
The company said its market-access, manufacturing, distribution and patient-support operations are in place for the launch. Its (ON)Path patient-services program will provide coverage navigation, financial support, adherence resources and educational materials for patients, caregivers and healthcare teams.
Eligible commercially insured patients may qualify for co-pay assistance as low as $0, Mancini said. He added that commercially insured patients already receiving daraxonrasib through the company’s expanded access program are expected to transition to commercial supply within a few months. The expanded access portal will close, though it will remain available for a limited transition period.
Revolution Medicines said its field-based market-access teams have conducted pre-approval information exchanges with payers representing more than 80% of covered lives. Mancini said the company expects payer policies to be published relatively quickly, while early access may also occur through medical exceptions.
Chief Financial Officer Jack Anders said the company expects gross-to-net discounts initially to range from 20% to 30%, depending on payer mix. He said Medicare Part D is expected to represent a significant portion of eligible patients and noted that government coverage includes mandatory discounts and rebates.
Label Flexibility and Ongoing Development Management said the prescribing information does not establish specific criteria for determining whether a patient is a candidate for multi-agent systemic therapy. Sandler said such decisions should be made by treating physicians in consultation with patients, based on individual circumstances and the risks and benefits of available treatments.
Revolution Medicines estimates that about 55,000 patients are diagnosed annually in the U.S. with metastatic pancreatic cancer, including newly diagnosed patients and those progressing from earlier-stage disease. The company said approximately 74% historically received first-line cytotoxic chemotherapy, while fewer than half of those patients subsequently received second-line treatment.
The company has four additional global Phase III registrational programs underway in pancreatic cancer, covering first-line metastatic and resectable disease. These include programs evaluating RASONQUE alone and in combination approaches involving zoldonrasib, the company’s RAS(ON) G12D-selective covalent inhibitor. A separate Phase III trial is also underway in previously treated RAS-mutant non-small cell lung cancer.
Mark Goldsmith, chairman and chief executive officer, said the company plans to establish RASONQUE as a new treatment option for eligible U.S. patients while preparing for potential launches in Europe, Japan and other markets. The European Medicines Agency’s phased review of daraxonrasib is underway, though the medicine remains investigational outside the U.S.
About Revolution Medicines (NASDAQ:RVMD)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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Should You Invest $1,000 in Revolution Medicines Right Now?Before you consider Revolution Medicines, you'll want to hear this.
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of RVMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $208.76 and last traded at $206.97, with a volume of 2100357 shares trading hands. The stock had previously closed at $205.15.
Analyst Upgrades and Downgrades Several equities research analysts have weighed in on RVMD shares. HC Wainwright restated a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a report on Monday, July 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Wedbush raised their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a report on Thursday. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Finally, Evercore reissued an “outperform” rating and issued a $230.00 price objective on shares of Revolution Medicines in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.68.
Get Our Latest Stock Analysis on Revolution Medicines
Revolution Medicines Stock Up 0.9% The business has a 50 day moving average of $177.53 and a 200-day moving average of $138.22. The stock has a market cap of $44.36 billion, a PE ratio of -23.47 and a beta of 1.39. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the firm posted ($1.31) earnings per share. Equities research analysts predict that Revolution Medicines, Inc. will post -8.19 EPS for the current fiscal year.
Insiders Place Their Bets In related news, insider Mark A. Goldsmith sold 10,020 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the sale, the chief operating officer owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. This represents a 27.63% 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. Over the last ninety days, insiders sold 132,497 shares of company stock worth $21,470,486. Corporate insiders own 7.60% of the company’s stock.
Institutional Trading of Revolution Medicines Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. raised its position in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after acquiring an additional 120 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC increased its stake in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $32,000. 94.34% of the stock is owned by hedge funds and other institutional investors.
About Revolution Medicines (Get 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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SAN CARLOS, Calif. & REDWOOD CITY, Calif.--(BUSINESS WIRE)---- $ONC #BeOne--BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, and Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced a multi-part collaboration including: a clinical collaboration to evaluate drug combinations incorporating select clinical-stage oncology assets from BeOne with any of Revolution.
SummaryRevolution Medicines is evolving from a clinical-stage biotech to a near-term commercial oncology player, anchored by its RAS(ON) inhibitor platform.RVMD's robust $3.9 billion cash position and additional committed capital support aggressive pipeline expansion and commercial launch readiness, reducing near-term dilution risk.Daraxonrasib's potential FDA approval and commercial launch in pancreatic cancer could fundamentally transform RVMD's financial profile and validate its broader RAS-targeted strategy.The bull case hinges on successful execution across multiple Phase 3 programs, pipeline expansion into lung and colorectal cancers, and establishing RVMD as a backbone therapy provider. Maskot/DigitalVision via Getty Images
Thesis: Pipeline optionality Beyond the obvious near-term opportunities in pancreatic/lung cancer, I see a broader bull case for Revolution Medicines (RVMD) in the company building a deep RAS(ON) inhibitor platform rather than a one-product story. The
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Key Takeaways RVMD reported a Q2 adjusted loss of $2.34 per share, wider than expectations.Revolution Medicines raised its 2026 operating expense outlook for the second time this year.RVMD advanced daraxonrasib and other RAS-targeted programs in late-stage development. Revolution Medicines (RVMD - Free Report) reported an adjusted loss of $2.34 per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of $1.93.
The adjusted figure excluded a non-cash charge of $151 million tied to a change in the fair value of warrants assumed through the EQRx acquisition, which closed in 2023. Including this item, the reported loss was $3.06 per share. The company had incurred a loss of $1.31 per share in the year-ago quarter.
Currently, RVMD does not have any approved products in its portfolio. It has yet to generate revenues.
Shares of the company fell in after-market trading yesterday as investors did not react favorably to the wider-than-expected loss. The decline also reflected concerns over management’s decision to raise its operating expense guidance for the second time this year.
The stock has skyrocketed 148% year to date compared with the industry’s nearly 3% growth.
Image Source: Zacks Investment Research
RVMD’s Operating Expenses Increase SharplyResearch and development expenses surged 76% year over year to around $395 million. The increase reflected higher costs associated with clinical studies and manufacturing for the company’s pipeline candidates, along with increased employee-related expenses.
General and administrative expenses increased nearly 172% to more than $110 million. The increase was driven by higher personnel and stock-based compensation costs, increased commercial preparation activities and elevated administrative expenses.
Revolution Medicines Raises 2026 Expense View AgainThe company revised its operating expenses guidance for the second time this year. It expects the figure to be between $2.1 billion and $2.2 billion, up from the previous projection of $1.7 billion to $1.8 billion.
The updated forecast includes expected non-cash stock-based compensation expenses of $270 million to $290 million compared with the prior estimate of $260 million to $280 million.
Management intends to increase spending on commercial and clinical manufacturing, expand the company’s development programs and strengthen launch readiness in the United States and international markets.
RVMD Strengthens Cash PositionThe company ended June with cash, cash equivalents and marketable securities of $3.9 billion, up from $1.9 billion as of March 31, 2026.
The increase was primarily driven by $2.225 billion in gross proceeds from concurrent offerings of common stock and convertible senior notes completed in April. The quarter-end balance also included a $250 million payment received from Royalty Pharma in May.
Revolution Medicines Advances Daraxonrasib in Pancreatic CancerLast month, Revolution Medicines announced that the FDA accepted a regulatory filing for its lead candidate, daraxonrasib, in previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC). The filing is supported by data from the phase III RASolute 302 study, which showed statistically significant improvements in overall survival, progression-free survival and patient-reported quality of life versus chemotherapy.
The submission is being reviewed under the agency’s Commissioner’s National Priority Voucher (“CNPV”) pilot program, which significantly cuts down the review period to just one to two months. Revolution Medicines said its U.S. commercial infrastructure is ready to support a potential launch, including its sales organization, patient services platform, field access team and distribution network. The EMA also initiated a phased review under its Cancer Medicines Pathfinder project.
In the meantime, Revolution Medicines is evaluating daraxonrasib in two phase III studies — RASolute 303 and RASolute 304 — across earlier lines of treatment for PDAC. While RASolute 303 is assessing the drug in the first-line metastatic setting, RASolute 304 is evaluating its efficacy in the adjuvant setting.
Beyond PDAC, the company is also conducting the late-stage RASolve 301 study of daraxonrasib in patients with previously treated RAS-mutant non-small cell lung cancer (NSCLC). It expects to complete enrollment this year, supporting an initial readout in 2027.
RVMD Progresses Other Pipeline DrugsAlongside the earnings results, RVMD reported initial clinical data (as of the data cut-off of May 11, 2027) from separate studies on mutant-selective inhibitors, including elironrasib, which targets G12C, and zoldonrasib, which targets G12D.
Zoldonrasib combined with Merck’s (MRK - Free Report) Keytruda and platinum doublet chemotherapy produced an overall response rate (ORR) of 82% and a disease control rate (DCR) of 100% in evaluable patients with first-line RAS G12D NSCLC. Median follow-up was 3.4 months. Based on these results, the company recently started the phase III RASolve 308 study of this combination.
The elironrasib plus Keytruda and platinum doublet chemotherapy combination generated a confirmed ORR of 85% and a DCR of 97% in first-line RAS G12C NSCLC. At 8.7 months of median follow-up, 95% of patients remained progression-free at six months. Based on these findings, RVMD intends to start the phase III RASolve 307 study in the fourth quarter of 2026.
The company also announced that it recently started the phase III RASolute 309 study to evaluate the combination of zoldonrasib and daraxonrasib in previously treated RAS G12D PDAC. This initiation was supported by data from a phase I/II study, which showed that the regimen demonstrated compelling preliminary antitumor activity with a manageable safety and tolerability profile.
To further strengthen its position in the RAS-addicted cancer space, Revolution Medicines has entered into several agreements to accelerate the development of its pipeline. The company has established clinical collaborations with Bristol Myers (BMY - Free Report) , Summit Therapeutics (SMMT - Free Report) and Tango Therapeutics to evaluate combinations of its RAS inhibitors with their respective pipeline drugs.
RVMD’s Zacks RankThe stock 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 NASDAQ: RVMD said its second-quarter 2026 results reflected continued investment in late-stage cancer programs, commercial launch preparations and manufacturing capacity as it advances daraxonrasib and other RAS-targeted therapies across pancreatic and lung cancer.
The company ended the quarter with $3.9 billion in cash and investments, including proceeds from April offerings of common stock and convertible notes that generated $2.2 billion in gross proceeds, as well as a $250 million second royalty tranche from Royalty Pharma. Revolution Medicines said up to an additional $1.5 billion remains available under that funding arrangement if specified milestones are achieved.
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Net loss for the quarter ended June 30 widened to $644 million from $248 million a year earlier. The quarterly loss included a $151 million non-cash charge related to the increased fair value of warrants assumed in the EQRx acquisition, driven by an increase in Revolution Medicines’ stock price.
Daraxonrasib regulatory and access progress Chairman and Chief Executive Officer Mark Goldsmith said the company’s new drug application for daraxonrasib in previously treated metastatic pancreatic cancer has been accepted for review by the U.S. Food and Drug Administration. The application is supported by the completed Phase III RASolute 302 study, whose results were presented at the American Society of Clinical Oncology meeting and published in the New England Journal of Medicine.
Goldsmith said RASolute 302 showed statistically significant and clinically meaningful improvements in overall survival, progression-free survival and patient-reported quality-of-life measures for daraxonrasib monotherapy compared with chemotherapy, with what the company described as a manageable safety and tolerability profile.
Revolution Medicines has also established an FDA-cleared expanded access program for eligible U.S. patients. Goldsmith said the program has activated sites in nearly all 50 states and Puerto Rico, spanning academic cancer centers and community oncology practices. The company has approved more than 90% of reviewed requests and provided daraxonrasib on behalf of more than 2,000 eligible patients.
In Europe, the European Medicines Agency has designated daraxonrasib as a high priority under its Cancer Medicines Pathfinder and started a phased review intended to accelerate assessment ahead of a full marketing authorization application. Goldsmith said the company is continuing discussions with the EMA and other regulatory authorities.
The company said its U.S. commercial infrastructure is in place for a potential launch, including a sales organization, field access team, patient services program, commercial supply and distribution network. Anthony Mancini, chief global commercialization officer, said the sales organization includes about 60 individuals and is designed to support a pancreatic cancer launch while broader commercialization infrastructure could support future indications.
Pancreatic cancer pipeline expands Revolution Medicines continues to enroll patients in the Phase III RASolute 303 study in first-line metastatic pancreatic cancer and RASolute 304 study in the adjuvant setting, both involving daraxonrasib. The company is also enrolling patients in RASolute 305, a Phase III study of zoldonrasib plus chemotherapy in first-line metastatic pancreatic cancer with RAS G12D mutations.
The company recently initiated RASolute 309, a Phase III study evaluating the combination of daraxonrasib and zoldonrasib in the first-line RAS G12D pancreatic cancer setting.
At the European Society for Medical Oncology Gastrointestinal Cancers Congress, Revolution Medicines reported preliminary data for zoldonrasib combined with chemotherapy in first-line RAS G12D pancreatic cancer. The company reported objective response rates of 82% with modified FOLFIRINOX and 61% with gemcitabine plus nab-paclitaxel, with disease control rates of 96% and 90%, respectively. It said longer follow-up is needed to assess durability.
In another study, the daraxonrasib-zoldonrasib doublet produced objective response rates of 50% in second-line patients and 47% in patients treated in the third line or later, according to the company. Median progression-free survival was 9.6 months in the second-line group and 7.6 months in the later-line group. Median overall survival had not been reached in the second-line setting, while it was 10.5 months in the third-line-or-later group.
Lung cancer programs move toward registrational studies Chief Development Officer Alan Sandler said the company is advancing mutant-selective RAS(ON) inhibitors in first-line non-small cell lung cancer. The FDA has granted breakthrough therapy designation to daraxonrasib for previously treated metastatic non-small cell lung cancer with KRAS mutations other than G12C in patients who previously received platinum chemotherapy and PD-1 or PD-L1 therapy.
Revolution Medicines expects to complete enrollment in its Phase III RASolve 301 study of daraxonrasib in previously treated RAS-mutant non-small cell lung cancer this year, supporting an initial readout in 2027.
The company also disclosed early combination data for zoldonrasib and elironrasib with pembrolizumab and platinum-based chemotherapy in previously untreated non-small cell lung cancer. In KRAS G12D disease, zoldonrasib’s combination produced an 82% objective response rate and disease control in all evaluable patients after a median 3.4 months of follow-up as of May 11.
For elironrasib in RAS G12C non-small cell lung cancer, the company reported an 85% confirmed objective response rate, a 97% disease control rate and a 95% progression-free survival rate at six months, based on median follow-up of 8.7 months. Sandler said safety findings for both regimens were broadly consistent with pembrolizumab-based chemotherapy, with no new or unexpected safety signals reported for zoldonrasib.
Revolution Medicines has initiated RASolve 308, a randomized placebo-controlled study of zoldonrasib plus pembrolizumab and platinum-doublet chemotherapy in RAS G12D non-small cell lung cancer. It expects to begin RASolve 307, a similar study of elironrasib in RAS G12C disease, in the fourth quarter of 2026.
Expenses and outlook Research and development expense increased to $395 million from $224 million a year earlier, primarily reflecting higher clinical trial and manufacturing costs for daraxonrasib and zoldonrasib, additional personnel and stock-based compensation. General and administrative expense rose to $110 million from $41 million, driven by headcount, commercialization preparations and administrative costs.
The company increased its full-year 2026 GAAP operating expense forecast to between $2.1 billion and $2.2 billion, including expected non-cash stock-based compensation of $270 million to $290 million. Chief Financial Officer Jack Anders said the higher outlook reflects accelerated manufacturing for clinical and potential commercial supply, expanded clinical development activity and increased U.S. and international commercialization investments.
Goldsmith said Revolution Medicines plans to provide a colorectal cancer data update and outline its development plans in the fourth quarter. The company also expects to identify a recommended Phase II dose for RMC-5127 in the second half of 2026 and initiate a first-in-human study of RM-055 in the fourth quarter.
About Revolution Medicines (NASDAQ:RVMD)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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REDWOOD CITY, Calif., Aug. 05, 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 its financial results for the quarter ended June 30, 2026, and provided an update on corporate progress.
Amundi lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 590.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,560 shares of the company’s stock after acquiring an additional 118,493 shares during the period. Amundi owned approximately 0.07% of Revolution Medicines worth $13,475,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Advisory Services Inc. grew its holdings in shares of Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after buying an additional 120 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG lifted its stake in Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC boosted its position in Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.
Revolution Medicines Stock Up 6.0% RVMD stock opened at $193.46 on Wednesday. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $194.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a market capitalization of $41.13 billion, a price-to-earnings ratio of -27.36 and a beta of 1.39. The business’s fifty day moving average price is $173.96 and its two-hundred day moving average price is $135.92.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) EPS. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.
Insiders Place Their Bets In related news, insider Stephen Michael Kelsey sold 4,175 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the transaction, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last quarter. Company insiders own 7.60% of the company’s stock.
Wall Street Analyst Weigh In RVMD has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Needham & Company LLC upped their target price on Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Oppenheimer increased their price target on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Truist Financial raised their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.67.
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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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First Trust Advisors LP grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 80.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,970 shares of the company’s stock after acquiring an additional 31,605 shares during the period. First Trust Advisors LP’s holdings in Revolution Medicines were worth $6,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares during the period. Nextech Invest Ltd. lifted its position in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after purchasing an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG increased its position in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after purchasing an additional 994,538 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Analyst Upgrades and Downgrades Several research firms have commented on RVMD. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a report on Monday, July 6th. Sanford C. Bernstein started coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective for the company. Piper Sandler boosted their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Oppenheimer increased their price objective 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. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.67.
Check Out Our Latest Stock Report on Revolution Medicines
Revolution Medicines Stock Performance NASDAQ RVMD opened at $187.53 on Monday. The stock has a 50-day moving average of $172.57 and a two-hundred day moving average of $134.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $194.56. The company has a market cap of $39.87 billion, a P/E ratio of -26.52 and a beta of 1.37.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) earnings per share. As a group, analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current year.
Insider Activity In related news, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 267,330 shares of the company’s stock, valued at $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. This trade represents a 1.41% 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. Insiders sold 132,497 shares of company stock worth $21,470,486 over the last three months. Company insiders own 7.60% of the company’s stock.
Revolution Medicines Profile (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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Stanley Druckenmiller isn't afraid to take risks. His boldness has paid off through the years. Druckenmiller's net worth stands at $7.8 billion. His Duquesne Family Office has roughly $3 billion in assets under management.
One notable example of Druckenmiller's risk-taking is his investments in clinical-stage biotech stocks. In the first quarter of 2026, his Duquesne Family Office initiated a new stake in Revolution Medicines (RVMD -2.42%) worth $30.7 million at the end of Q1.
Over the last 12 months, Revolution Medicines has surged by more than 400%. Is this high-flying biotech stock still a buy?
Stanley Druckenmiller. Image source: Getty Images.
Investing in a revolution There's a simple explanation why Druckenmiller likes Revolution Medicines -- and why the stock has performed so well. Revolution appears to have one of the most promising pancreatic cancer therapies ever developed in its pipeline.
Daraxonrasib targets the RAS protein, which has long been considered one of the most "undruggable" targets in cancer. Mutant versions of this protein become stuck in an "on" state and drive the unchecked spread of multiple types of tumors. Daraxonrasib works by blocking the cellular signals of RAS proteins.
In April 2026, Revolution Medicine reported stellar late-stage clinical data for daraxonrasib in patients with previously treated metastatic pancreatic cancer. The median overall survival rate for patients receiving the drug was 13.2 months -- nearly double the rate for patients receiving chemotherapy.
Revolution now awaits U.S. Food and Drug Administration (FDA) approval. The company is also pursuing European approval for daraxonrasib.
Today's Change
(
-2.42
%) $
-4.64
Current Price
$
187.53
Is Revolution Medicines stock still a buy? Druckenmiller didn't build a $30 million position in a company with no sales without doing his homework first. He knew the potential for Revolution Medicines and for daraxonrasib.
But Revolution's market cap now hovers around $40 billion. Significant growth expectations are clearly baked into the biotech innovator's share price.
Wall Street believes tremendous growth is in store, with consensus peak annual projections for daraxonrasib ranging from $5 billion to $7.6 billion. The low end of that range implies Revolution Medicines trades at eight times sales that have yet to materialize.
However, those projections are based only on daraxonrasib in treating pancreatic cancer. Revoluion is also evaluating the drug in late-stage clinical trials as a treatment for non-small cell lung cancer. Success in these studies could open up another big opportunity.
Revolution Medicines could still be appealing to aggressive long-term investors. My take, though, is that other growth stocks offer more compelling risk-reward profiles after Revolution's sizzling gains over the last year.
Avidity Partners Management LP bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $1,459,000.
Several other large investors have also recently bought and sold shares of RVMD. Vanguard Group Inc. raised its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. boosted its stake in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after purchasing an additional 421,112 shares during the last quarter. Finally, Bellevue Group AG increased its holdings in shares of Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after buying an additional 994,538 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.
Revolution Medicines Stock Down 2.4% Shares of NASDAQ:RVMD opened at $187.53 on Friday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56. The firm has a fifty day moving average of $172.57 and a 200 day moving average of $134.85. The firm has a market capitalization of $39.87 billion, a PE ratio of -26.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) EPS. As a group, research analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.
Insider Transactions at Revolution Medicines In other news, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In A number of brokerages have recently issued reports on RVMD. Needham & Company LLC raised their price objective on Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Oppenheimer boosted their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Guggenheim upped their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.67.
Get Our Latest Research Report on Revolution Medicines
Revolution Medicines Profile (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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