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
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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.
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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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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.
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.
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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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.
Read More Five stocks we like better than Revolution Medicines System Upgrade: First Internet Bancorp Options Surge AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push The AI Chip Blockade Is Creating a Shadow Market Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter
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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.
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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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REDWOOD CITY, Calif., July 29, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that it will report financial results for the second quarter of 2026 on Wednesday, August 5, 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 late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Shares of Revolution Medicines (RVMD -1.60%), a clinical-stage drugmaker, have gained 132% this year, easily outpacing the returns of leading pharmaceutical companies such as Eli Lilly (LLY -0.87%), Johnson & Johnson (JNJ -0.45%), and AbbVie (ABBV +0.04%). The question now is whether Revolution Medicines can keep the momentum going. Let's find out whether there is more upside ahead.
The valuation is a stumbling block First, let's give credit where credit is due. Revolution Medicines is trying to revolutionize the oncology market, and it might just pull it off. The company is developing drugs that target cancer-driving proteins once considered "undruggable," offering the potential to precisely block the genetic errors that fuel tumors and create new treatment options for patients with hard-to-treat cancers.
Image source: Getty Images.
Revolution Medicines' clinical trial results have been outstanding so far, particularly for its leading candidate, daraxonrasib. To give one example, daraxonrasib beat the current standard of care, cytotoxic chemotherapy, in a head-to-head study in patients with metastatic pancreatic cancer. Daraxonrasib posted a median overall survival rate -- an important endpoint in cancer clinical trials -- of 13.2 months, versus 6.7 months with cytotoxic chemotherapy. This medicine appears destined for stardom. It should generate well over $1 billion in sales at its peak. Revolution Medicines has several other promising candidates in the pipeline.
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However, one problem with the stock is its valuation. The company is worth $39 billion despite having no products on the market and being consistently unprofitable. The market is pinning significant hopes on Revolution Medicines' oncology prospects, and this may be justified. However, at current levels, I wouldn't buy the stock, as a major clinical or regulatory setback, particularly with daraxonrasib, could sink the share price. The current valuation assumes near-perfect execution, and that makes the stock too risky.
Revolution Medicines may prove me wrong and beat the market from current levels. But I am more than comfortable passing up the chance, considering its risk-reward profile. If the stock dips significantly, I might consider it then.
Prosper Junior Bakiny has positions in Eli Lilly and Johnson & Johnson. The Motley Fool has positions in and recommends AbbVie and Eli Lilly. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
Key Takeaways Revolution Medicines' FDA filing for daraxonrasib in metastatic PDAC was accepted under the CNPV program.RVMD's phase III study met all endpoints, showing improved survival, disease control and quality of life.The company is advancing late-stage studies and combination trials across multiple RAS-driven cancers. Revolution Medicines (RVMD - Free Report) announced that the FDA has accepted its regulatory filing seeking approval for its lead candidate, daraxonrasib, for previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC).
The submission is being reviewed under the agency’s Commissioner’s National Priority Voucher (“CNPV”) pilot program — an initiative designed to significantly accelerate the review of therapies targeting serious or life-threatening diseases with high unmet medical needs. The program uses a collaborative review process to compress review timelines well below the standard 10-month review period (or about six months for drugs granted priority review).
The filing 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 chemotherapy and nearly doubled median overall survival. The treatment also significantly improved progression-free survival and quality-of-life measures.
Cytotoxic chemotherapy is considered the standard of care for previously treated metastatic PDAC, a setting in which effective therapies remain limited. If approved, daraxonrasib could become a new treatment option for this patient population.
An approval would also mark a major inflection point for Revolution Medicines. Daraxonrasib would become the company's first marketed product, transforming it from a clinical-stage biotech into a commercial-stage company with its first revenue-generating therapy. A successful launch would also validate the company's RAS-targeting platform and establish a commercial foundation for advancing its broader oncology pipeline.
RVMD Stock’s Price PerformanceYear to date, the company’s shares have skyrocketed 130% compared with the industry’s 2% growth.
Image Source: Zacks Investment Research
More on RVMD’s DaraxonrasibDaraxonrasib is designed to target a broad spectrum of RAS-driven cancers, including PDAC, non-small cell lung cancer (NSCLC) and colorectal cancer.
Apart from RASolute 302, Revolution Medicines is evaluating daraxonrasib in several 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.
For NSCLC, the company is conducting the phase III RASolve 301 study evaluating daraxonrasib in patients with locally advanced or metastatic RAS-mutated NSCLC. It is on track to start a fifth late-stage study on the drug in the first-line NSCLC setting soon.
To further strengthen its position in RAS-driven cancers, Revolution Medicines has established multiple clinical collaborations to evaluate daraxonrasib and its other RAS inhibitors in combination regimens. These partnerships include collaborations with Bristol Myers (BMY - Free Report) , Summit Therapeutics (SMMT - Free Report) and Tango Therapeutics (TNGX - Free Report) .
RVMD’s Zacks RankRevolution Medicines currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
REDWOOD CITY, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) accepted for review the company’s New Drug Application (NDA) for daraxonrasib, an oral RAS(ON) multi-selective inhibitor, for previously treated metastatic pancreatic ductal adenocarcinoma (PDAC).
“The FDA’s acceptance of the daraxonrasib NDA is an important step in the regulatory review process and brings us closer to the possibility of offering patients a new targeted medicine for previously treated metastatic pancreatic cancer,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “Daraxonrasib is an oral targeted medicine designed to inhibit RAS, the main cause of pancreatic cancer, and the application is supported by unprecedented results from the Phase 3 RASolute 302 trial. These findings underscore the potential for daraxonrasib to become a new standard of care and to help define a new class of RAS‑targeted medicines for this disease. We look forward to continuing to work closely with the FDA as the agency reviews the application, and with other global regulatory authorities as we advance our efforts to bring daraxonrasib to patients as quickly as possible.”
The NDA is based on results from the global, randomized Phase 3 RASolute 302 trial, evaluating daraxonrasib versus standard of care cytotoxic chemotherapy in patients with previously treated metastatic PDAC, with or without an identified tumor RAS mutation. The trial met all primary and key secondary endpoints, including unprecedented improvements in overall survival and progression-free survival. In addition, daraxonrasib exhibited a manageable safety profile and patients treated with daraxonrasib reported significantly delayed deterioration in cancer-related pain, overall global health status and quality of life, compared to those treated with chemotherapy. Results from the RASolute 302 trial were presented at the 2026 American Society of Clinical Oncology Annual Meeting with simultaneous publication in The New England Journal of Medicine.
Daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is designed to accelerate the review of medicines that address key national health priorities. The FDA previously granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic PDAC.
The Company recently announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use has begun a phased review of daraxonrasib, allowing data to be evaluated as they become available before submission of a full marketing authorization application. Daraxonrasib has also received orphan medicine designation for the treatment of pancreatic cancer, and high-priority status under EMA’s Cancer Medicines Pathfinder project based on its potential to address a significant unmet need.
About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people will be diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1 Due to the lack of early symptoms and detection methods, most patients are diagnosed with pancreatic ductal adenocarcinoma (PDAC) at an advanced or metastatic stage. Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.2,3
About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, noncovalent tri-complex inhibitor that works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors. It is designed to target cancers driven by a broad range of common RAS genotypes, including pancreatic ductal adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.
About the RASolute 302 Clinical Trial
RASolute 302 (NCT06625320) is a global, randomized Phase 3 registrational clinical trial designed to evaluate the efficacy and safety of daraxonrasib as a monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). In the trial, patients were randomized to receive either an oral dose of 300 mg daraxonrasib once daily or investigator’s choice of four different cytotoxic chemotherapy regimens, which represent standard of care across the globe. The trial enrolled patients with metastatic PDAC harboring a wide range of RAS variants, including those with RAS G12 mutations (such as G12D, G12V, and G12R), as well as patients without an identified tumor RAS mutation (wild type).
The primary endpoints of the RASolute 302 trial were progression-free survival (PFS), as assessed by a Blinded Independent Central Review according to RECIST 1.1, and overall survival (OS) in patients with tumors harboring RAS G12 mutations. Secondary endpoints included PFS and OS in all enrolled patients (the intent-to-treat population) encompassing patients with and without identified tumor RAS mutations, as well as objective response rate, duration of response, and patient-reported quality of life.
About Revolution Medicines, Inc.
Revolution Medicines is a company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the broad potential of RAS(ON) inhibition and the potential for a new class of RAS-targeted therapy to emerge; treatment practices for pancreatic cancer and the potential for daraxonrasib to become a standard of care; the company’s regulatory interactions; the company’s ability to bring daraxonrasib to patients; and progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied.
Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," "estimate," "expect," "plan," “potential,” “project,” “up to,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
References
1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2 Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
3 American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed July 2026.
California Public Employees Retirement System trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,960 shares of the company’s stock after selling 9,046 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Revolution Medicines worth $27,421,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Revolution Medicines during the first quarter worth approximately $1,022,000. Bank of New York Mellon Corp lifted its position in shares of Revolution Medicines by 17.2% during the 1st quarter. Bank of New York Mellon Corp now owns 635,366 shares of the company’s stock worth $61,789,000 after buying an additional 93,297 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $97,000. Sanctuary Advisors LLC acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $213,000. Finally, Calamos Advisors LLC grew its position in shares of Revolution Medicines by 24.1% in the 1st quarter. Calamos Advisors LLC now owns 15,463 shares of the company’s stock valued at $1,504,000 after buying an additional 3,003 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
Revolution Medicines Trading Up 1.6% Shares of Revolution Medicines stock opened at $183.29 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $38.97 billion, a P/E ratio of -25.92 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.82. The company’s fifty day moving average is $166.55 and its two-hundred day moving average is $129.82.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. Analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current year.
Insider Transactions at Revolution Medicines In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Revolution Medicines stock in a transaction that occurred 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 transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 over the last three months. 7.60% of the stock is currently owned by company insiders.
Analysts Set New Price Targets RVMD has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Guggenheim boosted their target price on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday. Finally, Oppenheimer raised their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.06.
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.
Featured Articles Five stocks we like better than Revolution Medicines Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible 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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Bessemer Group Inc. reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 59.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,062 shares of the company’s stock after selling 69,600 shares during the period. Bessemer Group Inc.’s holdings in Revolution Medicines were worth $4,675,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of RVMD. Vanguard Group Inc. boosted its stake in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revolution Medicines by 194.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares in the last quarter. Mass General Brigham Inc bought a new position in shares of Revolution Medicines in the fourth quarter valued at about $27,407,000. Eagle Health Investments LP acquired a new position in Revolution Medicines during the 4th quarter worth about $9,231,000. Finally, M&T Bank Corp acquired a new position in Revolution Medicines during the 4th quarter worth about $52,723,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets RVMD has been the topic of a number of research analyst reports. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Truist Financial upped their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.06.
Get Our Latest Research Report on RVMD
Insider Activity In other news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This trade represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 132,497 shares of company stock valued at $21,470,486. Company insiders own 7.60% of the company’s stock.
Revolution Medicines Stock Down 3.1% NASDAQ:RVMD opened at $180.39 on Tuesday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The stock’s fifty day simple moving average is $165.80 and its 200-day simple moving average is $129.09. The firm has a market capitalization of $38.35 billion, a P/E ratio of -25.51 and a beta of 1.37.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.
About Revolution Medicines (Free Report)
Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.
The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.
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Revolution Medicines (RVMD 1.69%) aims to replace chemotherapy for some of the most aggressive cancers with its targeted treatments. It directly targets the RAS protein -- which feeds the growth of non-small cell lung, pancreatic, and colorectal cancers -- by shutting down the hyperactive cellular signals that drive their spread.
Image source: Getty Images.
Revolution hasn't generated any revenue, and its flagship treatment, Daraxonrasib, hasn't been approved by the FDA yet. However, positive results from its Phase 3 trial, which nearly doubled the survival rate of patients with previously treated metastatic pancreatic cancer, prompted the FDA to grant it Breakthrough Therapy and Orphan Drug designations.
It's also nearly completed its New Drug Application (NDA) to the FDA. The European Medicines Agency (EMA) launched an accelerated review of daraxonrasib this month, putting it on track for a global launch.
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Stanley Druckenmiller backs the high-flying stock Revolution's stock has already risen 125% this year in anticipation of Daraxonrasib's regulatory approvals, but it still has some big backers. In the first quarter of 2026, Stanley Druckenmiller's Duquesne Family Office bought 316,000 shares of Revolution Medicines.
That stake, which was worth $30.6 million at the time of its 13F filing, is now worth $56.6 million. That only accounts for 1%-2% of its equity portfolio, but it's a pretty strong vote of confidence in a pre-revenue biotech company. Revolution is still a speculative biotech play, but it could attract much more attention if its bold bet to replace chemotherapy pays off.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The S&P 500 is up 10.3% YTD, and Wall Street is convinced the markets have more room to run, particularly for this group of stocks we have uncovered. JPMorgan just tagged CECO Environmental (NASDAQ:CECO) with a $130 price target, implying roughly 65% upside from where the stock closed Friday. Bigger and more interesting calls landed on other desks this week. Here are the five names sell-side desks are pounding the table on right now, ranked by conviction and catalyst timing.
1. Perimeter Solutions: The Fire Retardant Monopoly Nobody Talks About Start with the name most portfolios do not own. Perimeter Solutions (NYSE:PRM) makes the red fire retardant dumped from tanker planes onto wildfires, and it is effectively the only US supplier of scale. JPMorgan initiated coverage at Overweight with a $50 price target representing roughly 50% upside, calling it a “niche market leader” with a “disciplined M&A playbook proving portable beyond fire.” Translation: the government has to buy from them, and they just bought a second monopoly.
The Medical Manufacturing Technologies (MMT) acquisition, a $685 million bolt-on deal that closed in January, drove Specialty Products revenue up 128% to $79.6 million in Q1. Fire Safety alone grew 22% to $45.5 million and adjusted EBITDA jumped 128% to $41.2 million. Meanwhile, management signed fresh five-year contracts with the US Defense Logistics Agency and the California Department of Forestry in April. Total Q1 revenue of $125.07 million was up 73.6% year over year, with EPS of $0.06 surpassing the $0.02 estimate.
The surprise pick has government contracts, monopoly pricing, and a 50% analyst target sitting on top of an already M&A-supercharged quarter. Now for the heavyweight everyone is chasing.
2. CECO Environmental: The AI Data Center Pick Hiding in Industrials CECO is the classic “why did I not own this” call. The company sells industrial air, water, and energy transition equipment, and it is suddenly ground zero for AI-driven data center power buildout. JPMorgan’s $130 target is built on the recently announced Thermon acquisition, which the desk calls “transformative,” lifting recurring short-cycle revenue to about 40% of the mix and effectively doubling adjusted EBITDA. Independent 2026 outlooks peg data center equipment growth as roughly 25% annually and “essentially locked in for the next four to five years,” and CECO sits directly in that revenue stream.
The company’s Q1 numbers already reflect the shift. Orders exploded 97% year over year to $449.5 million, while backlog “eclipsed” $1.04 billion, up 72%. Management raised FY26 guidance to a range of $940 million to $1 billion in revenue with adjusted EBITDA of $120 million to $140 million. CEO Todd Gleason called out data centers, AI computing, industrial reshoring, and electrification as the demand stack driving orders: April alone delivered more than $450 million in new bookings, including the largest-ever Natural Gas Power order.
Shares have advanced 175.4% over the past year, which means the $130 call is a bet that the multi-year AI power cycle is nowhere near priced in. The next name pays you regardless of what the AI trade does.
3. Ligand Pharmaceuticals: The Royalty Compounder Wall Street Just Repriced Ligand Pharmaceuticals (NASDAQ:LGND) owns royalty streams on other companies’ drugs rather than selling its own. Bank of America just raised its target to $388 from $266, a 46% increase, arguing the growth story is still underappreciated even after the run. The catalyst: Ligand’s pending acquisition of XOMA Royalty at $39 per share, closing in Q3 2026, which folds in more than 120 commercial, clinical, and preclinical assets including Vabysmo, Ojemda, and Miplyffa.
The engine underneath is already humming. Q1 royalty revenue climbed 56% year over year, coming in at $43 million, and adjusted EPS came in at $1.63. Filspari, now the largest royalty contributor after receiving full FDA approval in focal segmental glomerulosclerosis, posted 88% year-over-year growth to $105 million in US net product sales. Management reaffirmed FY26 guidance of $270 million to $310 million in total revenue and adjusted EPS per diluted share of $8.50 to $9.50.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Toast didn't make the cut. Grab the names FREE today.
The stock is already up 67.26% year to date, and BofA is telling you that is still cheap. To keep things interesting, the next pick is the exact opposite setup: a stock that has been left for dead.
4. Toast: The Comeback Trade Goldman Just Called Toast (NYSE:TOST | TOST Price Prediction), a digital tech platform for restaurants, has gotten crushed. Shares are down 34.1% over the past year on competitive fears in SMB payments and margin pressure from hardware. Goldman Sachs looked at the wreckage and upgraded to Buy with a $36 target, arguing the reset is done and the AI product cycle is starting. If you want the trade of Wall Street’s greatest hits, the Breakout Buyer’s Rulebook is where these bounce setups get pressure-tested.
The Q1 report was better than the stock chart suggests. Revenue grew 21.9% year over year to $1.63 billion, net income doubled to $126 million, and ARR crossed $2.2 billion, up 26%. Toast added about 7,000 net new locations, bringing the total to roughly 171,000, and launched its first AI agent dubbed Toast IQ Grow. Management raised FY26 adjusted EBITDA guidance to $790 million to $810 million. The company also bought back $378 million in stock through May 6 in an attempt to return value to shareholders.
CEO Aman Narang says the platform can scale to “$5 billion and $10 billion in ARR over the next decade.” The last name on this list is playing for a bigger number in a shorter window.
5. Revolution Medicines: The Binary Payoff Wall Street Cannot Stop Talking About Save the biggest swing for last. Revolution Medicines (NASDAQ:RVMD) just posted Phase 3 data in previously treated metastatic pancreatic cancer that could reset expectations for one of oncology’s toughest markets. Its lead oncology candidate, daraxonrasib, delivered median overall survival of 13.2 months versus 6.7 months for chemotherapy in the overall study population, with a hazard ratio of 0.40 and p<0.0001. Management plans to submit the data to the FDA as part of a future New Drug Application under the Commissioner’s National Priority Voucher program.
The setup around the filing is loaded. Revolution raised roughly $2.1 billion in net proceeds from April financings, leaving it with about $4 billion in pro forma cash to support launch preparation and a wider RAS(ON) pipeline. The company has four clinical-stage RAS(ON) inhibitors in development, with multiple registrational Phase 3 trials advancing across pancreatic cancer and lung cancer.
Wall Street has piled in, with analyst coverage overwhelmingly bullish and few skeptics left on the sidelines. The stock has climbed sharply, up more than 130% year to date and roughly 385% over the past year, turning Revolution into one of biotech’s biggest swing stories of 2026.
The Thread Five names, five different catalysts, one pattern: every call sits on a hard-dated 2026 event. PRM’s MMT integration and government contracts. CECO’s Thermon close and AI power backlog. Ligand’s XOMA acquisition and Filspari ramp. Toast’s raised guidance and AI product cycle. Revolution’s FDA submission on Phase 3 pancreatic cancer data. Wait for the next earnings cycle and these setups will already have moved.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Toast didn't make the cut. Grab the names FREE today.
The exterior of EMA, European Medicines Agency is seen in Amsterdam, Netherlands December 18, 2020. REUTERS/Piroschka van de Wouw Purchase Licensing Rights, opens new tab
CompaniesJuly 7 (Reuters) - The European Medicines Agency said on Tuesday it has begun a rolling review of Revolution Medicines' (RVMD.O), opens new tab experimental treatment for patients with metastatic pancreatic cancer.
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The regulator said the decision was based on results from a late-stage study that compared the drug, daraxonrasib, with chemotherapy in previously treated patients with metastatic pancreatic cancer.
Patients whose disease progresses after earlier treatment have limited therapeutic options and a poor prognosis, with life expectancy of about six months, the EMA said.
The drug, daraxonrasib, is being studied in patients with metastatic pancreatic ductal adenocarcinoma, a form of pancreatic cancer that has spread to other parts of the body, who have already been treated with other therapies.
Daraxonrasib was designated a high-priority medicine under the agency's Cancer Medicines Pathfinder program, which supports treatments that could address significant unmet medical needs.
In May, the U.S. FDA authorized the granting of early access before regulatory approval to Revolution Medicines’ pill for patients with previously treated pancreatic cancer.
Under the rolling review process, the EMA's Committee for Medicinal Products for Human Use will evaluate quality, safety and efficacy data as they become available, ahead of a formal marketing application.
The agency said medicines assessed through rolling reviews are held to the same standards as those undergoing a conventional review, but the approach can shorten the overall assessment timeline by allowing regulators to review data before a complete application is submitted.
Reporting by Siddhi Mahatole in Bengaluru
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Phased review by EMA aims to accelerate assessment of company's investigational drug daraxonrasib in pancreatic cancer based on unprecedented clinical results from pivotal Phase 3 RASolute 302 trial
Rolling submission of NDA for daraxonrasib to U.S. FDA under Commissioner’s National Priority Voucher pilot program nearing completion
REDWOOD CITY, Calif., July 07, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has started a phased review of data on daraxonrasib, the company's investigational RAS(ON) multi-selective inhibitor. A phased review aims to accelerate the assessment of a medicine by evaluating the data in phases as they become available, ahead of the submission of a full marketing authorization application. Daraxonrasib was designated by the EMA as an orphan medicinal product for the treatment of pancreatic cancer and has been recognized as a high priority under EMA’s Cancer Medicines Pathfinder project based on its potential to address a high unmet medical need.
In addition, the company continues to make significant progress on its rolling submission of a New Drug Application (NDA) for daraxonrasib to the U.S. Food and Drug Administration (FDA) under the Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.
“As our rolling submission of an NDA to the FDA nears completion, we are encouraged by the strong engagement we've received from health authorities around the world,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “The EMA's decision to include daraxonrasib in its new phased review process is an important step toward making this medicine available to patients globally as quickly as possible. We believe this milestone underscores both the significant unmet medical need in pancreatic cancer and the potential of daraxonrasib to address that need.”
The company continues to engage in discussions with regulatory authorities around the world as it prepares for submissions in additional territories. The ongoing FDA review and planned regulatory submissions in other territories are supported by the positive results from the pivotal Phase 3 RASolute 302 trial, which demonstrated unprecedented improvements in overall survival and progression-free survival compared to standard of care cytotoxic chemotherapy in patients with previously treated metastatic PDAC, with or without an identified tumor RAS mutation. In the trial, daraxonrasib exhibited a manageable safety profile and patients treated with daraxonrasib reported significantly delayed deterioration in cancer-related pain, overall global health status and quality of life, compared to those treated with chemotherapy.
About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent tri-complex inhibitor. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.
Daraxonrasib is designed to target cancers driven by a broad range of common RAS mutations, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.
Daraxonrasib works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.
About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. Pancreatic ductal adenocarcinoma, or PDAC, is the most common form of pancreatic cancer.1
Due to the lack of early symptoms and detection methods, approximately 80% of patients are diagnosed with PDAC at an advanced or metastatic stage. PDAC is the most commonly RAS-driven malignancy of all major cancers, with more than 90% of patients having tumors that harbor RAS mutations.2 Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.3, 4
About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied; the company’s regulatory strategy and the timing, status and progress of any regulatory submissions; discussions with regulatory agencies including the EMA and FDA; and the potential for daraxonrasib to address unmet medical needs.
Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," “continues,” “intend,” “nears,” "plan," “potential,” and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2 Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z.
3 Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
4 American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed March 2026.
Revolution Medicines (RVMD +0.92%) spent most of its history as a publicly traded company -- that's since 2020 -- trading for less than $50 a share. The company offers a new approach to oncology treatment, aiming for targets once thought to be "undruggable." In recent months, Revolution has clearly demonstrated the potential of its technology and is rapidly approaching the finish line. So, it's no surprise that investors have been taking notice.
In fact, they've taken so much notice that the stock price has soared nearly 140% this year. This is amid positive late-stage clinical trial results and optimism about potential revenue ahead. Considering the full picture and after its triple-digit gain, is this hot biotech stock still a buy? Let's find out.
Image source: Getty Images.
Making the "undruggable" protein "druggable" We'll start off by taking a look at Revolution's technology and pipeline progress. The company focuses on treating cancers linked to the activity of RAS proteins. RAS proteins have generally been called "undruggable" because potential therapeutics can't bind to their surfaces. But Revolution, using its tri-complex inhibitor platform, has found a way, producing "druggable" sites -- the investigational therapeutics then go on to block cancer signaling.
Revolution is exploring its candidates in cancers in which RAS proteins play a key role, and the company recently reported solid results from a phase 3 trial of previously treated metastatic pancreatic cancer. Daraxonrasib delivered a survival rate of 13.2 months versus a survival rate of 6.7 months for patients treated with the standard care of chemotherapy.
The company said these results are considered final, and it's submitting them to support a request for regulatory review. Revolution is also advancing another candidate, zoldonrasib, in phase 3 trials for the same indication.
Revolution has phase 3 trials ongoing for daraxonrasib in non-small cell lung cancer, and zoldonrasib as a combination therapy with standard of care is entering phase 3.
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Results just ahead And the biotech company is conducting earlier-stage trials in colorectal cancer and aims to share results of these combination studies -- with standard of care or investigational approaches -- this year.
Meanwhile, Revolution doesn't yet have products on the market, so it isn't generating revenue -- and due to this period of heavy investment in research and development, the company's loss in the recent quarter doubled from the year-earlier period to more than $453 million. The cash position at $1.9 billion and the $2.1 billion in net proceeds from financing should help support ongoing R&D.
The company clearly has developed an interesting approach to cancer treatment and has made significant progress in pancreatic cancer -- a key area where better treatments are needed. The fact that the company's lead candidate is approaching the finish line is positive, too, as that suggests a revenue stream may be right around the corner. So, if all goes smoothly, Revolution could be very close to becoming a commercial-stage biotech. This could reduce risk as a potential regulatory nod represents a vote of confidence for the technology that's used throughout the pipeline -- and would open the door to revenue and eventually profit.
And speaking of the financial picture, it's not worrisome to see the company's R&D costs climb right now -- this is a standard pattern across biotech companies in the clinical development stage.
Now, let's consider whether the stock is a buy. If you're a cautious investor, it's best to focus on biotech players that already have at least one product on the market and either are profitable or have made steps toward profitability. Biotech companies that aren't yet commercial-stage represent a certain amount of risk.
But, if you're a growth investor who can handle this risk, Revolution, even after its big gain, represents a compelling buy. This is because the company has shown the strength of its technology and may be very close to potential product approval. A regulatory nod and revenue growth to follow could result in significant gains, and Revolution's strong pipeline could lead to more strength down the road. All of this means that, over time, the stock may have plenty of room to run.
REDWOOD CITY, Calif., July 02, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced results from two Phase 1/2 clinical trials evaluating zoldonrasib, its oral RAS(ON) G12D-selective covalent inhibitor, in combination regimens for patients with RAS G12D metastatic pancreatic ductal adenocarcinoma (PDAC). The results, which will be presented today in a proffered paper session at the 2026 European Society for Medical Oncology (ESMO) Gastrointestinal Cancers Congress, include zoldonrasib in combination with standard of care chemotherapy in previously untreated patients and zoldonrasib in combination with daraxonrasib, the company’s oral RAS(ON) multi-selective inhibitor, in previously treated patients.
“The Phase 3 RASolute 302 results provided clinical validation of RAS(ON) inhibition with daraxonrasib in second line metastatic pancreatic cancer and established a strong foundation for evaluating this therapeutic approach across additional RAS genotypes, treatment settings and combination strategies. The results presented at ESMO GI demonstrate compelling proof-of-concept for two zoldonrasib-based regimens in RAS G12D disease: combination with standard of care chemotherapy in previously untreated patients and a RAS(ON) inhibitor doublet with daraxonrasib in previously treated patients. Together, these findings are the foundation of two distinct Phase 3 strategies we are pursuing in previously untreated metastatic RAS G12D pancreatic cancer: the ongoing RASolute 305 trial evaluating zoldonrasib plus standard of care chemotherapy, and the planned RASolute 309 trial evaluating the combination of zoldonrasib plus daraxonrasib,” said Alan Sandler, M.D., chief development officer of Revolution Medicines.
Safety and Efficacy of Zoldonrasib Plus Chemotherapy in Patients with First Line RAS G12D Metastatic Pancreatic Cancer (Abstract #340O)
RMC-GI-102 (NCT06445062) is an ongoing Phase 1/2 trial evaluating zoldonrasib 1200 mg once daily in combination with investigator's choice of standard of care chemotherapy in patients with previously untreated metastatic RAS G12D PDAC. Investigator's choice of chemotherapy includes modified FOLFIRINOX (mFFX) or gemcitabine plus nab-paclitaxel (GnP). As of the February 8, 2026 data cutoff, the trial enrolled 41 patients in the zoldonrasib plus mFFX arm and 40 patients in the zoldonrasib plus GnP arm.
Zoldonrasib demonstrated a manageable safety and tolerability profile in combination with standard chemotherapy. The safety profile of zoldonrasib in combination with chemotherapy was broadly consistent with the established profiles of each respective chemotherapy regimen. Grade 3 or greater treatment-related adverse events (TRAEs) occurred in 61% of patients who received the zoldonrasib plus mFFX and 80% of patients who received zoldonrasib plus GnP. The most common Grade 3 or greater TRAEs with zoldonrasib plus mFFX were decreased neutrophil count (37%), anemia (12%), and platelet count decreased (7%). The most common Grade 3 or greater TRAEs with zoldonrasib plus GnP were decreased neutrophil count (35%), anemia (28%), and fatigue (25%). No Grade 5 TRAEs were reported in either arm. The mean dose intensity was 86% with zoldonrasib plus mFFX and 90% with the zoldonrasib plus GnP.
In the trial, zoldonrasib with chemotherapy showed compelling antitumor activity, with an objective response rate (ORR) of 82% (95% confidence interval [CI]: 60, 95) and disease control rate (DCR) of 96% (95% CI: 77, 100) in the mFFX population, and an ORR of 61% (95% CI: 42, 78) and DCR of 90% (95% CI: 74, 98) in the GnP population.
These preliminary safety and clinical activity data support the ongoing RASolute 305 pivotal trial (NCT07621718), a global, randomized, double-blind placebo-controlled Phase 3 clinical trial evaluating zoldonrasib plus investigator’s choice of standard of care chemotherapy compared with placebo plus investigator’s choice of chemotherapy in patients with previously untreated metastatic RAS G12D PDAC.
Safety and Efficacy of Zoldonrasib Plus Daraxonrasib in Patients with Second Line-Plus RAS G12D Metastatic Pancreatic Cancer (Abstract #341O)
RMC-9805-001 (NCT06040541) is a Phase 1 trial evaluating zoldonrasib 1200 mg once daily plus daraxonrasib 300 mg once daily in advanced solid tumors with RAS G12D mutations. As of the February 9, 2026 data cutoff, 60 patients with RAS G12D metastatic PDAC who had previously received one or more prior lines of therapy were treated with the combination.
Zoldonrasib plus daraxonrasib demonstrated a manageable safety and tolerability profile that was broadly consistent with the established profile of daraxonrasib monotherapy. Grade 3 or greater TRAEs occurred in 35% of patients who received the combination. Among TRAEs occurring in 10% or more of all patients, the most common Grade 3 or greater events were rash (12%), anemia (10%), and stomatitis/mucositis (7%). Few patients discontinued due to TRAES; 2% discontinued zoldonrasib and 5% discontinued daraxonrasib. The mean dose intensity was 88% for zoldonrasib and 76% for daraxonrasib.
The zoldonrasib plus daraxonrasib combination demonstrated compelling antitumor activity in patients with previously treated metastatic PDAC. In the second line cohort (2L) (N=30), the ORR was 50% (95% CI: 31–69) and DCR was 97% (95% CI: 83–100). Median progression-free survival (PFS) in the 2L cohort was 9.6 months (95% CI: 7.1–NE), with a 6-month PFS rate of 71%. Median overall survival (OS) in the 2L cohort was not yet estimable, with a 6-month OS rate of 89%. In the third line and beyond (3L+) cohort (N=30), the ORR was 47% (95% CI: 28–66) and DCR was 90% (95% CI: 74–98). Median PFS in the 3L+ cohort was 7.6 months (95% CI: 4.6–10.5), with a 6-month PFS rate of 59%. Median OS in the 3L+ cohort was 10.5 months (95% CI: 6.7–NE), with a 6-month OS rate of 82%.
These safety and clinical activity data support the planned pivotal global, Phase 3 RASolute 309 clinical trial of zoldonrasib plus daraxonrasib versus GnP in patients with previously untreated RAS G12D metastatic PDAC.
About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. Pancreatic ductal adenocarcinoma, or PDAC, is the most common form of pancreatic cancer. Due to the lack of early symptoms and effective detection methods, approximately 80% of patients are diagnosed with advanced or metastatic disease. PDAC is the most commonly RAS-driven malignancy of all major cancers, with more than 90% of patients having tumors that harbor RAS mutations.1 RAS G12D is the most prevalent RAS mutation subtype in PDAC, occurring in 40% of patients, and has been associated with poorer outcomes than RAS wild-type disease and certain other RAS-mutant subgroups.1-4
About Zoldonrasib
Zoldonrasib is an investigational, oral RAS(ON) G12D-selective covalent tri-complex inhibitor. RAS G12D is the most prevalent RAS mutation, accounting for 29% of all RAS cancers.1 Across tumor types, approximately 61,000 new patients with RAS G12D cancers are estimated each year in the U.S., and no targeted therapy is currently approved for these patients.5 Zoldonrasib is currently being evaluated as a monotherapy and in combination with other therapies, including with Revolution Medicines’ RAS(ON) multi-selective inhibitor daraxonrasib (RMC-6236), as well as standard of care regimens in lung and gastrointestinal cancers.
About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent tri-complex inhibitor. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.
Daraxonrasib is designed to target cancers driven by a broad range of common RAS genotypes, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.
About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding our development strategy, including in RAS G12D pancreatic cancer; the potential of our product candidates for RAS(ON) inhibition, including in pancreatic cancer; the ability of daraxonrasib or zoldonrasib to improve patient outcomes; planned and ongoing clinical studies; and potential efficacy of the company’s product candidates being studied.
Forward-looking statements are typically, but not always, identified by the use of words such as “anticipate,” "estimate," "plan," “potential,” “proof-of-concept,” “pursuing,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Annual Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
1 Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z
2 Yousef, A., Yousef, M., Chowdhury, S. et al. Impact of KRAS mutations and co-mutations on clinical outcomes in pancreatic ductal adenocarcinoma. NPJ Precis Oncol. 2024;8:27. https://doi.org/10.1038/s41698-024-00505-0
3 Qian ZR, Rubinson DA, Nowak JA, et al. Association of Alterations in Main Driver Genes With Outcomes of Patients With Resected Pancreatic Ductal Adenocarcinoma. JAMA Oncol. 2018;4(3):e173420. doi:10.1001/jamaoncol.2017.3420
4 Norton C, Shaw MS, Rubnitz Z, et al. KRAS Mutation Status and Treatment Outcomes in Patients With Metastatic Pancreatic Adenocarcinoma. JAMA Netw Open. 2025;8(1):e2453588. doi:10.1001/jamanetworkopen.2024.53588
5 Estimated using tumor mutation frequencies from Foundation Medicine Insights March 2022 and scaled to estimated patient numbers using cancer incidence from ACS Cancer Facts and Figures 2023.
Most clinical-stage biotechs are small-cap companies. That makes sense. Not only can it take years -- sometimes over a decade -- to develop novel medicines, but it is also a very risky endeavor. Companies that don't have a single product on the market and generate little to no revenue are very risky. However, several clinical-stage drugmakers have impressive market values compared to their peers. Take Revolution Medicines (RVMD 0.04%), a biotech focused on developing cancer therapies. Its current market cap is about $40 billion. That may seem absurd, but there is a good reason Revolution Medicines is worth what it is.
Image source: Getty Images.
Revolution's enormous market potential Cancer is one of the leading causes of death, and there are still many forms of the disease for which there is a need for new treatment options. Even within market niches with plenty of options, there is always room for improvement. Given all that, it's not surprising that oncology is by far the largest area in the pharmaceutical industry in terms of annual sales. Medicines that dominate the cancer market make billions, sometimes tens of billions, in revenue every year. Revolution Medicines is looking to tap into this large opportunity. It isn't the only one: Many smaller drugmakers are actively developing cancer drugs. The difference is that Revolution Medicines' leading candidates look incredibly promising.
Consider the company's daraxonrasib, which is being developed to treat pancreatic cancer and lung cancer. Recent clinical trial results highlight why the market is valuing Revolution Medicines so highly. In a phase 3 study in previously treated patients with metastatic pancreatic cancer, where daraxonrasib was pitted against the current standard of care, cytotoxic chemotherapy, the medicine posted a median overall survival rate of 13.2 months, versus 6.7 months for those who received chemotherapy. Daraxonrasib also showed a reasonable safety profile throughout the study.
This trial provided strong evidence that daraxonrasib could become a new standard of care in metastatic pancreatic cancer. And, according to some analysts, this could be an opportunity worth over $10 billion. We haven't even factored in other potential indications for daraxonrasib yet, including non-small cell lung cancer (NSCLC), one of the leading causes of cancer death. This could be an even larger -- albeit more competitive -- area for Revolution Medicines to break into with its leading candidate. Further, the company boasts other promising pipeline products. Revolution Medicines is developing zoldonrasib across pancreatic cancer and NSCLC. Zoldonrasib has already posted solid results in clinical trials.
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Is it too late to buy the stock? Revolution Medicines' secret lies in its pioneering work in a new class of medicines, RAS(ON) inhibitors, that aim to treat RAS-addicted cancers, which account for 30% of new diagnoses, according to the company. They depend heavily on a broken "growth switch" in cells (the RAS protein) being stuck on, so they keep growing and dividing uncontrollably. While therapies for this category of cancers existed, they typically did not address the root driver of the diseases. Revolution Medicines' approach does that, and now, the company could dominate this area for the next decade or so and reap immense financial benefits in the process.
What's more, with recent phase 3 clinical trial results, Revolution Medicines should launch daraxonrasib within a year, and the medicine promises to be a smashing success. However, Revolution Medicines has already soared by about 409% over the past year. And although its market cap isn't as absurd as some might think, given its status as a clinical-stage biotech, it is still quite high. Even with a strong launch trajectory for daraxonrasib, it will take some time for Revolution Medicines' sales to reach levels that justify its current valuation. And in the meantime, the company still faces the risk of clinical or regulatory setbacks that could sink its share price. So, Revolution Medicines' shares look too expensive at current levels, and investors should probably wait for a pullback before initiating a position.
REDWOOD CITY, Calif., June 24, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that four oral and poster presentations highlighting data from its RAS(ON) pipeline will be featured at the 2026 European Society for Medical Oncology (ESMO) Gastrointestinal Cancers Congress, taking place July 1–4, 2026 in Munich, Germany.
The program will include two oral presentations from Phase 1/2 trials evaluating zoldonrasib, an oral RAS(ON) G12D-selective covalent inhibitor, in combination regimens for patients with metastatic RAS G12D pancreatic ductal adenocarcinoma (PDAC). These presentations will report results from zoldonrasib plus chemotherapy in the first line setting, and zoldonrasib plus daraxonrasib, the company’s oral RAS(ON) multi-selective inhibitor, in patients who had received one or more prior lines of therapy.
Additional presentations will include two Phase 3 trials-in-progress posters for RASolute 303, evaluating daraxonrasib as a monotherapy or in combination with gemcitabine and nab-paclitaxel versus standard of care gemcitabine and nab-paclitaxel as a first line treatment for patients with metastatic PDAC, and RASolute 304, evaluating adjuvant daraxonrasib in patients with PDAC who have undergone resection and completed perioperative chemotherapy.
Details of Revolution Medicines’ presentations are listed below.
Revolution Medicines Oral Presentations:
Title:Safety and Efficacy of Zoldonrasib (RMC-9805) Plus Daraxonrasib (RMC-6236) in Patients with 2L+ KRAS G12D Metastatic Pancreatic Adenocarcinoma (mPDAC)Abstract:#341OPresenter:Nilofer Azad, M.D., Johns Hopkins Sidney Kimmel Comprehensive Cancer CenterSession:Proffered Paper SessionDate/Time:July 2; 2:50 p.m. – 3:00 p.m. CEST Revolution Medicines Posters:
Title:RASolute 304 – A Phase 3 Multicenter, Open-label, Randomized Study of Adjuvant Daraxonrasib Versus Observation Following Completion of Neoadjuvant and/or Adjuvant Chemotherapy in Patients With Resected Pancreatic Adenocarcinoma (PDAC)Abstract:#472TiPPresenter:Michel Ducreux, M.D., Ph.D., Institut Gustave RoussySession:Upper Digestive – Biliary, ampullary and pancreatic cancerDate/Time:July 3; 3:30 p.m. – 4:30 p.m. CEST About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied.
Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," "estimate," "expect," "plan," “potential,” “project,” “up to,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
Steve Kelsey, president, R&D, to transition to senior advisor to CEO ahead of planned retirement in January 2027
Company announces new R&D leadership structure to support continued execution of strategy
REDWOOD CITY, Calif., June 22, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that Steve Kelsey, M.D., FRCP, FRCPath, president, research and development, will transition into the role of senior advisor to the chief executive officer, effective July 1, 2026. Dr. Kelsey plans to retire from his employment with the company on January 4, 2027, at which time Revolution Medicines currently anticipates appointing him to its Board of Directors.
Dr. Kelsey has served as Revolution Medicines’ president, research and development since March 2017. In this role, he has been responsible for the company’s research and development organization, including drug discovery and development, translational research, and manufacturing. His leadership and scientific insights have been central to the discovery and advancement of the company’s RAS(ON) inhibitor portfolio.
“Throughout Steve’s long tenure with the company, he has played a pivotal role in creating the collaborative and rigorous scientific environment that has enabled our discovery, preclinical research and development teams to work synergistically in advancing our mission,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “He has embodied our culture of challenging longstanding dogma through bold science, operational discipline and an unwavering commitment to improving outcomes for patients. On behalf of the entire Revolution Medicines team, I want to thank Steve for his leadership, partnership, and many lasting contributions. I am very pleased that he will serve as an advisor during this planned transition, and that we’ll have the continuing opportunity to benefit from his insights and counsel in the years ahead.”
As part of the transition, Revolution Medicines will implement an updated leadership structure for its research and development functions, effective July 1, 2026. Alan Sandler, M.D., chief development officer, will continue to oversee the company’s development department, and Jan Smith, Ph.D., chief scientific officer, will oversee the company’s research activities. In addition, Xiaolin Wang, Sc.D., will assume the new role of executive vice president, integrated portfolio strategy and management, overseeing a function that includes portfolio strategy and management as well as pharmaceutical development and manufacturing.
About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding Dr. Kelsey’s planned retirement and the timing thereof; Dr. Kelsey’s transition to the role of Senior Advisor to the Chief Executive Officer; the anticipated appointment of Dr. Kelsey to the Board upon his retirement; and progression of clinical studies, 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, commercialization preparation and launch readiness, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
Key Takeaways Revolution Medicines initiated phase III RASolute 305 in first-line metastatic RAS G12D PDAC.The study compares zoldonrasib plus chemotherapy against placebo plus standard chemotherapy.Co-primary endpoints are PFS and OS, with safety, efficacy and quality-of-life measures assessed. Revolution Medicines (RVMD - Free Report) announced that it has begun treating patients in the phase III RASolute 305 study, evaluating its pipeline candidate zoldonrasib in combination with chemotherapy in first-line metastatic RAS G12D pancreatic ductal adenocarcinoma (PDAC).
Zoldonrasib is RVMD’s investigational oral RAS(ON) G12D-selective inhibitor designed to suppress the active RAS G12D mutation, one of the most common oncogenic drivers across cancers. As no approved targeted therapies currently exist for RAS G12D-mutated tumors, the candidate represents a potentially significant treatment opportunity. Per management, zoldonrasib has shown encouraging antitumor activity and a favorable safety profile in early clinical studies.
Year to date, RVMD shares have skyrocketed 112.9% against the industry’s 0.1% decline.
Image Source: Zacks Investment Research
RVMD’s RASolute 305 Study Design & Key EndpointsIn the global late-stage RASolute 305 study, the participants are being given either zoldonrasib plus investigator-selected standard-of-care chemotherapy or placebo plus chemotherapy. Chemotherapy options include modified FOLFIRINOX or the combination of gemcitabine and nab-paclitaxel, both established frontline treatment regimens for metastatic pancreatic cancer.
The study’s co-primary endpoints are progression-free survival (PFS) and overall survival (OS). Secondary endpoints include additional measures such as antitumor efficacy, safety, tolerability and patient-reported outcomes assessing quality of life.
The study is designed to evaluate whether combining zoldonrasib with frontline chemotherapy can improve survival outcomes for patients with metastatic RAS G12D PDAC.
Pancreatic ductal adenocarcinoma, the most common form of pancreatic cancer, is often diagnosed at an advanced stage due to limited early symptoms and detection options. More than 90% of PDAC tumors harbor RAS mutations, with RAS G12D present in about 40% of patients and associated with particularly poor outcomes. Metastatic PDAC remains one of the deadliest cancers in the United States, with a five-year survival rate of around 3%.
Beyond pancreatic cancer, Zoldonrasib is being evaluated both as a standalone therapy and in combination with other treatments, including daraxonrasib and standard-of-care regimens, across multiple lung and gastrointestinal cancer indications.
RVMD Expands Late-Stage Presence in Metastatic PDACRevolution Medicines is advancing a broad pancreatic cancer portfolio built around its proprietary RAS(ON) inhibitor platform. The company's strategy spans both previously treated and first-line metastatic PDAC. In addition to the late-stage RASolute 305 study evaluating zoldonrasib in metastatic RAS G12D PDAC, the company is developing its lead pipeline candidate daraxonrasib in the ongoing phase III RASolute 303 study, as a monotherapy and in combination with chemotherapy for the first-line treatment of metastatic PDAC.
In April, the company announced positive top-line data from the phase III RASolute 302 study, which evaluated daraxonrasib, in previously treated metastatic PDAC patients. The study successfully met its primary endpoints, demonstrating significant improvements in both OS and PFS versus standard chemotherapy.
RVMD's Zacks Rank & Stocks to ConsiderRevolution Medicines currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) , Liquidia Corporation (LQDA - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Revolution Medicines is upgraded to buy as Daraxonrasib delivers practice-changing Phase 3 data in pancreatic ductal adenocarcinoma (PDAC). RVMD's $4B pro forma liquidity supports over two years of aggressive clinical expansion, with cash burn focused on value-driving trials and regulatory submissions. Daraxonrasib's Phase 3 results show a 60% reduction in risk of death and doubled median overall survival in metastatic PDAC, supporting a multi-billion-dollar opportunity.
Daraxonrasib demonstrated unprecedented survival benefit in Phase 3 RASolute 302 trial in previously treated metastatic pancreatic cancer; detailed results will be presented in upcoming ASCO Plenary presentation RASolute 302 data planned for submission to global regulatory authorities, including the U.S. Food and Drug Administration AACR 2026 presentations reinforce the breadth and strength of company's RAS(ON) portfolio, highlighting continued progress and novel approaches to RAS(ON) inhibition Strengthened financial position with financings totaling $2.2 billion in gross proceeds Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif.
A cancer patient receives a tracer injection in preparation for a PET CT scan at the Nuclear Medicine department of University College London Hospitals (UCLH), in London, Britain, January 29,... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesThe drug's benefits significantly outweigh its adverse effects, researchers saySurvival time is roughly doubled with daraxonrasib vs standard chemotherapyDrug targets a mutation found in 90% of pancreatic cancersMay 6 (Reuters) - An experimental drug from Revolution Medicines (RVMD.O), opens new tab that nearly doubled survival time for patients with advanced pancreas cancer in clinical trials comes with a high rate of mostly low-grade side effects, researchers reported on Wednesday.
The report from a first-in-human trial of daraxonrasib is the first peer-reviewed paper to show safety data for what analysts say could become the next standard of care for previously treated metastatic pancreatic cancer.
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Pancreatic cancer is among the most deadly forms of cancer globally, with one of the lowest five-year survival rates of any cancer, often cited at around 13%.
The new findings support an ongoing late-stage trial comparing daraxonrasib to usual second-line chemotherapy for patients with pancreatic cancer that has spread to other parts of the body, researchers said in a statement.
Among the 168 patients with previously treated pancreatic ductal adenocarcinoma who received daraxonrasib in the early trial, treatment-related adverse side effects of any grade occurred in 96%, while severe or life-threatening events were reported in 30%.
The most common side effects reported were rash, inflammation in the mouth, nausea and diarrhea.
"Almost all patients do experience some adverse effects, with the most common being a rash that occurs in the majority of patients," said senior researcher Dr. David Hong of the University of Texas MD Anderson Cancer Center in Houston. "But those effects are manageable in most patients, and the benefits significantly outweigh those adverse effects."
In the ongoing late-stage trial involving 500 patients, median overall survival is 13.2 months with daraxonrasib versus 6.7 months with standard chemotherapy, Revolution said in April.
With usual drug regimens for previously treated metastatic pancreas cancer, serious or life-threatening side effects are common, and median overall survival is 5 to 7 months, the researchers noted in a report published in The New England Journal of Medicine.
Participants in both trials have common mutations in so-called KRAS tumor genes that help cancer cells divide and multiply. Drugs that inhibit these genes are already available to treat lung and colorectal cancers, but they are active against a RAS mutation rarely seen in pancreatic cancer.
Daraxonrasib, given daily as a pill, targets the RAS mutations seen in 90% of pancreatic cancers.
“Although much work remains to be done, it genuinely feels like a new day is dawning for pancreatic cancer treatment, with daraxonrasib potentially serving as the first of a set of new medicines that broadly target mutant RAS and allow us to help patients with pancreatic cancers in new ways,” study leader Dr. Brian Wolpin of Dana-Farber Cancer Institute in Boston said in a statement.
Earlier this month, the U.S. Food and Drug Administration authorized early access to daraxonrasib, allowing patients to receive the experimental treatment outside clinical trials before approval.
Reporting by Nancy Lapid in Tucson, Arizona and Kamal Choudhury in Bengaluru; Editing by Bill Berkrot
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Nancy has been a health news reporter and editor at Reuters for more than a decade, covering important medical research advances. She is the author of our twice-a-week Reuters Health Rounds newsletter.
REDWOOD CITY, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that The New England Journal of Medicine (NEJM) has published a report describing data from the Phase 1/2 clinical trial evaluating daraxonrasib, a RAS(ON) multi-selective inhibitor, in patients with previously treated metastatic RAS mutant pancreatic ductal adenocarcinoma (PDAC). The promising Phase 1/2 findings provided important insights supporting initiation of the company’s global, randomized Phase 3 registrational trial, RASolute 302. Revolution Medicines recently announced positive topline results from the RASolute 302 clinical trial showing an unprecedented overall survival benefit with daraxonrasib compared to standard of care cytotoxic chemotherapy, consistent with the Phase 1/2 single-arm observations.
“RAS mutations are a central driver of disease across multiple solid tumors, including particularly pancreatic ductal adenocarcinoma. There is significant room for improvement in outcomes over current standard of care -- cytotoxic chemotherapies that are not targeted to these underlying RAS cancer drivers,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “Data from the Phase 1/2 trial show that daraxonrasib demonstrated promising clinical antitumor activity and durable responses, with an acceptable safety and tolerability profile, in patients with previously treated metastatic RAS mutant PDAC. These results, along with those from our Phase 3 trial, RASolute 302, strengthen our confidence in daraxonrasib’s potential to establish an important new treatment option for patients with pancreatic cancer and other RAS-addicted cancers.”
The data published in NEJM reflect outcomes in the PDAC cohort from the RMC-6236-001 trial (NCT05379985), an open-label, multicenter Phase 1/2 trial evaluating daraxonrasib monotherapy in patients previously treated for metastatic solid tumors harboring RAS mutations.
In addition to RASolute 302, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC in earlier treatment lines and those with metastatic RAS mutant non-small cell lung cancer.
About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people are diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1
Due to the lack of early symptoms and detection methods, approximately 80% of patients are diagnosed with PDAC at an advanced or metastatic stage. It is the most common RAS-addicted malignancy of all major cancers, and more than 90% of patients have tumors that harbor RAS mutations.2 Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.3,4
About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent inhibitor that is not approved by any regulatory authority, including in the United States or Europe. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.
Daraxonrasib is designed to target cancers driven by a broad range of common RAS mutations, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. In addition to the RASolute 302 trial, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC and metastatic RAS mutant NSCLC.
Daraxonrasib works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.
About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding progression of clinical studies and findings from these studies, including the safety, tolerability and antitumor activity of the company’s candidates being studied and the durability of these results; dosing and enrollment in the company’s clinical trials; the company’s expectations regarding from clinical trials; and the potential of daraxonrasib to estalish a new treatment option for patients with pancreatic cancer or other RAS-addicted cancers. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ current stage of development, the process of designing and conducting preclinical and clinical trials, risks that the results of prior clinical trials may not be predictive of future clinical trials, clinical efficacy, or other future results, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on November 5, 2025, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.
1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1);91. doi:10.1038/s41698-022-00334-z.
3Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
4American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed May 2026.
Key Takeaways Revolution Medicines posted a Q1 loss of $2.29 per share, missing the consensus estimate.The company raised 2026 operating expense guidance to $1.7B-$1.8B from $1.6B-$1.7B.RVMD plans global filings for daraxonrasib after a late-stage PDAC study met all endpoints. Revolution Medicines (RVMD - Free Report) reported a first-quarter 2026 loss of $2.29 per share, wider than the Zacks Consensus Estimate of a loss of $1.83. The company had incurred a loss of $1.13 in the year-ago quarter.
Currently, RVMD does not have any approved products in its portfolio. It has yet to generate revenues.
RVMD’s Stock PerformanceShares of Revolution Medicines have surged 83% year to date compared with the industry’s nil growth.
Image Source: Zacks Investment Research
More on RVMD’s EarningsResearch and development expenses amounted to about $344 million, up 67% year over year. This significant increase was primarily driven by higher costs associated with clinical studies and manufacturing for the company’s drug candidates.
General and administrative expenses surged 189% to $101.3 million, primarily driven by higher stock-based compensation expenses, headcount costs and administrative costs, as well as increased commercial preparation activities during the quarter.
As of March 31, 2026, Revolution Medicines had cash and cash equivalents worth $1.9 billion compared with $2 billion as of Dec. 31, 2025.
RVMD Updates 2026 GuidanceThe company revised its guidance for operating expenses. It expects the figure to be between $1.7 billion and $1.8 billion (previously: $1.6-$1.7 billion), which includes non-cash stock-based compensation expense of $260-$280 million (previously: $180-$200 million).
Pipeline UpdatesRevolution Medicines is developing multiple novel drugs that target the active, GTP-bound form (or ON form) of RAS proteins, which it refers to as RAS(ON). The company’s lead pipeline drug is daraxonrasib, an investigational oral RAS(ON) multi-selective inhibitor designed to target all three major RAS mutation hotspot positions (G12, G13 and Q61). RVMD is currently evaluating daraxonrasib across four late-stage registrational studies — three in pancreatic ductal adenocarcinoma (PDAC) and one in non-small cell lung cancer (NSCLC).
Last month, RVMD reported that the RASolute 302 study, which evaluated the drug in patients with second-line metastatic PDAC, met all primary and secondary endpoints. Based on this result, the company plans to advance regulatory submissions globally. For the FDA submission, Revolution Medicines intends to use the Commissioner’s National Priority Voucher to significantly reduce the review period to just 1-2 months.
Revolution Medicines is also evaluating daraxonrasib for several other settings in PDAC. While the RASolute 303 study is assessing the drug for the first-line metastatic setting of the disease, the RASolute 304 study is evaluating its efficacy as an adjuvant therapy for patients with resectable PDAC.
Concerning NSCLC, the company is conducting the RASolve 301 study on daraxonrasib in patients with locally advanced or metastatic RAS-mutated NSCLC. It is on track to start a fifth late-stage study of the drug in the first-line NSCLC setting later this year.
While multi-selective inhibitors like daraxonrasib target several forms of RAS mutations, Revolution Medicines is developing mutant-selective inhibitors like elironrasib (targeting G12C) and zoldonrasib (targeting G12D), which are designed to suppress the growth of specific RAS-bearing cancer cells. The company is pursuing an expansive combination strategy to enhance efficacy and broaden therapeutic reach, especially in first-line settings.
In February, RVMD announced that it started the phase III RASolute 305 study evaluating the combination of zoldonrasib and the investigator’s choice of chemotherapy (either gemcitabine nab-paclitaxel or modified FOLFIRINOX) in patients with first-line PDAC. Later this year, it plans to initiate two more late-stage studies assessing a combination therapy involving the drug — one in NSCLC and another in PDAC.
To further strengthen its position in the RAS-addicted cancer space, Revolution Medicines has entered into several agreements with different companies to accelerate pipeline growth. The company has established clinical collaborations with Bristol Myers (BMY - Free Report) , Summit Therapeutics (SMMT - Free Report) and Tango Therapeutics (TNGX - Free Report) to evaluate the combinations of its RAS(ON) inhibitors with their pipeline drugs.
RVMD’s Zacks RankRevolution currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SummaryCompaniesFDA allows expanded access to Revolution Medicines' experimental pancreatic cancer drugOncologists face logistical hurdles and resource strain to enroll patients in early access programDrug targets mutation that occurs in 90% of pancreatic cancersMay 14 (Reuters) - U.S. cancer centers are scrambling to enroll patients in an early access program for a highly promising pancreatic cancer drug from Revolution Medicines (RVMD.O), opens new tab while they await what they hope will be a speedy FDA approval.
The Food and Drug Administration allowed the expanded access program on May 1, less than three weeks after Revolution said the once-daily pill, daraxonrasib, doubled survival in a clinical trial of patients with advanced pancreatic cancer, among the deadliest of cancers with one of the lowest 5-year survival rates.
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The company had asked the FDA for permission to make it available free-of-charge for patients with previously treated pancreatic cancer that has spread to other parts of the body.
"The public caught wind of the FDA announcement... which has triggered a deluge of patient requests," said Dr. Daniel King, medical oncologist at the Zuckerberg Cancer Center of Northwell Health. "Cancer centers are all figuring out how to engage with our own institutions, opening up the protocols to provide access."
Oncologists said getting approval and managing the expanded access program will take time and require cancer centers to dedicate substantial resources outside of their usual operations.
The drug was one of the first products accepted by the FDA last year for its new expedited review process, and could potentially get approval a month or two after a complete application is filed.
Revolution Medicines CEO Mark Goldsmith, speaking on a conference call last week, did not give a time frame for a full FDA submission. "There's a full-throttle effort to do it," he said.
The Redwood City, California-based company said it has already experienced high demand for the drug and expects it to remain high throughout the early-access program.
"We are actively supporting physicians through this process with safe, compliant, and rapid patient access as our top priority," Revolution said in a statement.
"All requests must be initiated by a licensed treating physician and reviewed by an institutional review board," the company said, adding that it expects to be able to respond to requests from physicians within two business days of receipt.
A BREAKTHROUGH TO BUILD ONFormer Nebraska U.S. Senator Ben Sasse recently revealed that he has Stage 4 pancreatic cancer and told the CBS news program "60 Minutes" that he is taking the Revolution drug.
The drug, which targets a genetic mutation found in about 90% of pancreatic cancers, was shown in a clinical trial to extend median survival to 13.2 months compared with 6.7 months for patients on chemotherapy.
"Doubling survival compared to best available chemotherapy is a big deal," said Dr. Gulam Manji, co-director of the pancreas center at Columbia/New York-Presbyterian. "It is not a cure, but I think that this drug is a new breakthrough we can build on."
In a 10-year career, Manji could recall seeking compassionate use of an experimental drug for just one other patient. On a recent day in the clinic, the Columbia oncologist said seven patients asked him about starting treatment with daraxonrasib.
Getting them access is not as simple as writing a prescription for an FDA-approved drug, he and other cancer specialists said.
"Patients are already aware of the press release and are already calling," said Dr. Vincent Chung, pancreas cancer specialist at City of Hope. "The challenge now is how to proceed."
The program requires physicians to submit requests for each individual patient to Revolution Medicines, Chung said, and if the company decides they are a good candidate, all those details then need to be submitted to the FDA. Hospital monitoring boards will need to follow the patients.
"Given the volume, I am not sure what will happen on the FDA side. I'm sure they don't want to have 10,000 applications at once," Chung said, adding that the agency may instead set up a more general enrollment protocol.
Manji said his understanding is that cancer centers will not be required to collect detailed data on patients treated under the expanded access program, but will need to report serious side effects or other issues.
The FDA did not respond to a request for comment. The expedited voucher program was touted as a signature achievement by Dr. Marty Makary, who resigned as FDA Commissioner on Tuesday after weeks of clashes with Trump administration officials.
Around 67,000 people in the United States will be diagnosed, opens new tab with pancreatic cancer this year, and 53,000 will die of the disease, according to the American Cancer Society.
"We are doing this as a service to our patients," Chung said. "I'm hoping of course that the FDA is going to review the data and then there is an approval much sooner than is typical."
Reporting By Deena Beasley in Los Angeles and Nancy Lapid in Tucson; additional reporting by Julie Steenhuysen in Chicago; editing by Caroline Humer and Bill Berkrot
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Nancy has been a health news reporter and editor at Reuters for more than a decade, covering important medical research advances. She is the author of our twice-a-week Reuters Health Rounds newsletter.
• Revolution Medicines stock is taking a hit today. Why is RVMD stock falling?
In May, the Food and Drug Administration (FDA) approved the company's expanded access program for its experimental pancreatic cancer drug, daraxonrasib.
In April, Revolution Medicines shared positive topline results from its Phase 3 RASolute 302 trial of daraxonrasib for metastatic pancreatic cancer.
In the RASolute 302 trial, daraxonrasib showed statistically significant improvements in progression-free survival and overall survival, both critical endpoints for cancer therapies.
Daraxonrasib demonstrated a median overall survival of 13.2 months compared to 6.7 months for standard chemotherapy.
Trial Results Drive Patient InterestDoctors across major cancer institutions said patient demand surged immediately after the announcement.
Citing data from the American Cancer Society, about 67,000 Americans are expected to be diagnosed with pancreatic cancer this year, while roughly 53,000 are projected to die from the disease.
"The public caught wind of the FDA announcement … which has triggered a deluge of patient requests," a medical oncologist told Reuters.
Former Nebraska Sen. Ben Sasse recently disclosed that he has Stage 4 pancreatic cancer and is currently taking the experimental drug.
Hospitals Face Operational ChallengesDespite growing optimism, oncologists said the compassionate use process remains complex and resource-intensive.
Doctors must submit individual patient requests to Revolution Medicines, which the company, the FDA and institutional review boards then review. Hospitals must also monitor patients receiving treatment under the program.
Reuters noted that Revolution Medicines said it expects demand to remain high throughout the program and that physician requests will receive responses within two business days.
CEO Mark Goldsmith told Reuters the company is making a "full-throttle effort" toward a complete FDA submission but did not provide a timeline for formal approval.
RVMD Price Action: Revolution Medicines shares were down 3.47% at $144.28 at the time of publication on Friday, according to Benzinga Pro.
Over the past month, RVMD has declined about 5.41% versus a 6.6% rise in the S&P 500 and is up roughly 80% year-to-date compared to the index’s 8.1% gain.
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