Quarterly ResultAug 5, 2026, 04:13 PM
Revolution Medicines Q2 Net Loss $644.4M; FDA Accepts Daraxonrasib NDA
AI Summary
Revolution Medicines, Inc. announced its financial results for Q2 2026, reporting a net loss of $644.4 million and a strong cash position of $3.9 billion. The company achieved significant clinical and regulatory milestones, including FDA acceptance of the New Drug Application for daraxonrasib in metastatic pancreatic cancer and Breakthrough Therapy Designation for daraxonrasib in previously treated RAS mutant NSCLC. Additionally, positive clinical data was reported for zoldonrasib and elironrasib in non-small cell lung cancer, supporting planned Phase 3 studies. The company also updated its full year 2026 GAAP operating expense guidance to $2.1 billion to $2.2 billion.
Key Highlights
- Net loss was $644.4 million for Q2 2026, compared to $247.8 million for Q2 2025.
- Cash, cash equivalents, and marketable securities totaled $3.9 billion as of June 30, 2026.
- FDA accepted the New Drug Application (NDA) for daraxonrasib for previously treated metastatic pancreatic cancer.
- FDA granted Breakthrough Therapy Designation to daraxonrasib for previously treated metastatic RAS mutant non-small cell lung cancer.
- Zoldonrasib in first-line RAS G12D NSCLC showed an 82% overall response rate (ORR) and 100% disease control rate (DCR).
- Elironrasib in first-line RAS G12C NSCLC demonstrated an 85% confirmed ORR and 97% DCR.
- Full year 2026 GAAP operating expense guidance updated to a range of $2.1 billion to $2.2 billion.
Price Impact
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