Clinical TrialMay 6, 2026, 04:04 PM
Revolution Medicines Daraxonrasib Phase 3 Shows Unprecedented Survival Benefit
AI Summary
Revolution Medicines announced positive Phase 3 RASolute 302 trial results for daraxonrasib in metastatic pancreatic cancer, demonstrating an unprecedented survival benefit with a median OS of 13.2 months. These data will be submitted to global regulatory authorities, including the U.S. FDA. The company also reported a strengthened financial position with $2.2 billion in gross proceeds from recent financings and provided its Q1 2026 financial results, including a net loss of $453.8 million.
Key Highlights
- Daraxonrasib Phase 3 trial showed median OS of 13.2 months vs 6.7 months for chemotherapy (HR 0.40; p<0.0001).
- Company strengthened financial position with $2.2 billion in gross proceeds from recent financings.
- Cash, cash equivalents, and marketable securities were $1.9 billion as of March 31, 2026.
- Net proceeds from April 2026 financings totaled $2.1 billion.
- Net loss for Q1 2026 was $453.8 million, compared to $213.4 million for Q1 2025.
- R&D expenses increased to $344.0 million in Q1 2026 from $205.7 million in Q1 2025.
- G&A expenses increased to $101.3 million in Q1 2026 from $35.0 million in Q1 2025.
- Full year 2026 GAAP operating expenses guidance updated to $1.7 billion to $1.8 billion.