Revolution Medicines, Inc.

Revolution Medicines reported a significant increase in net loss for the second quarter of 2026, reaching $(644.4) million, up from $(247.8) million in the prior year. The diluted net loss per share was $(3.06). Despite the growing losses, the company substantially strengthened its liquidity position through a public offering that generated $1.65 billion in net proceeds and the issuance of convertible senior notes for $487.1 million. As a result, cash, cash equivalents, and marketable securities collectively surged to $3.94 billion by June 30, 2026.

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.

Revolution Medicines announced its Q2 2026 financial results and significant corporate progress. The U.S. FDA accepted the New Drug Application for daraxonrasib for metastatic pancreatic cancer and granted Breakthrough Therapy Designation for daraxonrasib in RAS mutant non-small cell lung cancer. The company also achieved U.S. commercial launch readiness and reported encouraging clinical data for elironrasib and zoldonrasib in NSCLC. While R&D and G&A expenses increased, leading to a higher net loss, the company maintains a strong cash position of $3.9 billion.

Revolution Medicines, Inc. announced it will report its financial results for the second quarter of 2026 on Wednesday, August 5, 2026, after market close. Following the release, the company's senior management will host a webcast and conference call at 4:30 p.m. ET to discuss the results and provide a corporate update. Interested parties can access the live and archived webcast via the company's investor relations website.

Revolution Medicines announced that the European Medicines Agency (EMA) has initiated a phased review of its investigational drug, daraxonrasib, for pancreatic cancer, aiming to accelerate its assessment. This follows the drug's designation as an orphan medicinal product and high priority under EMA’s Cancer Medicines Pathfinder. Concurrently, the company is nearing completion of its rolling New Drug Application (NDA) submission to the U.S. FDA under the Commissioner’s National Priority Voucher pilot program. These regulatory advancements are supported by positive Phase 3 RASolute 302 trial results, which demonstrated improved overall and progression-free survival.

Revolution Medicines announced positive Phase 1/2 clinical trial results for zoldonrasib in combination regimens for RAS G12D metastatic pancreatic ductal adenocarcinoma (PDAC). The zoldonrasib plus chemotherapy regimen in previously untreated patients demonstrated compelling antitumor activity, with an 82% objective response rate (ORR) with mFFX and 61% with GnP. The zoldonrasib plus daraxonrasib combination in previously treated patients achieved a 50% ORR in the second-line cohort and 47% in the third-line-plus cohort, with promising progression-free survival. These findings support the ongoing RASolute 305 and planned RASolute 309 Phase 3 trials.

Revolution Medicines announced it will present new data from its RAS(ON) pipeline at the 2026 European Society for Medical Oncology (ESMO) Gastrointestinal Cancers Congress. The presentations include two oral presentations from Phase 1/2 trials evaluating zoldonrasib in combination regimens for metastatic RAS G12D pancreatic ductal adenocarcinoma (PDAC). Additionally, two Phase 3 trials-in-progress posters for daraxonrasib in PDAC will be featured, highlighting its potential as a monotherapy or in combination for first-line treatment and as an adjuvant therapy.

Revolution Medicines announced that Dr. Steve Kelsey, President of Research and Development, will retire effective January 4, 2027, transitioning to a new role as Senior Advisor to the CEO on July 1, 2026. The company also held its Annual Meeting, where stockholders elected two Class III directors, ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm, and approved executive compensation on a non-binding, advisory basis.

Revolution Medicines announced detailed positive results from the global, randomized Phase 3 RASolute 302 clinical trial evaluating daraxonrasib in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). The oral RAS(ON) multi-selective inhibitor demonstrated unprecedented improvements in overall survival (OS) and progression-free survival (PFS) compared to standard of care chemotherapy, meeting all primary and key secondary endpoints. Daraxonrasib also showed a manageable safety profile and significantly delayed deterioration in cancer-related pain, global health status, and quality of life. The company plans to submit these data to global regulatory authorities, including the U.S. FDA.

Revolution Medicines announced that its senior management team will host a webcast on Sunday, May 31, at 7:00 pm ET. The webcast will discuss positive results from the Phase 3 RASolute 302 clinical trial, which evaluated daraxonrasib in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). These data are scheduled for presentation during the Plenary Session at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting.