Revolution Medicines, Inc. Stock Price, News & Analysis

Revolution Medicines, a precision oncology company (Nasdaq: RVMD), announced the nomination of Flavia Borellini, Ph.D., for election to its board of directors as a Class I director. She joins current nominees Elizabeth McKee Anderson and Neil Exter for reelection at the annual stockholder meeting on June 22, 2021. Dr. Borellini has over 25 years of leadership in oncology drug development, previously serving as CEO of Acerta Pharma and holding key roles at AstraZeneca and Genentech. The nomination aims to strengthen the board's expertise in targeted therapy development for RAS-addicted cancers.

Revolution Medicines announced the initiation of a multicenter Phase 1/1b clinical trial for RMC-5552, a first-in-class bi-steric mTORC1 inhibitor targeting relapsed/refractory solid tumors. The trial aims to assess the drug's safety, tolerability, and preliminary efficacy. Additionally, the U.S. Patent Office issued Patent No. 10,980,889, providing composition protection for RMC-5552 and related compounds. This advancement aligns with the company's focus on developing therapies for RAS-addicted cancers, crucial given the biological complexities of these tumors.

Revolution Medicines (Nasdaq: RVMD) announced six presentations at the AACR Annual Meeting 2021, scheduled for April 10-15, showcasing advancements in their RAS(ON) Inhibitors and RAS Companion Inhibitors. Notable presentations include the SHP2 inhibitor RMC-4630's anti-tumor activity and the development of first-in-class KRAS G12V inhibitors. The event emphasizes the company's commitment to precision oncology and highlights their ongoing research in treating RAS-addicted cancers.

Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage precision oncology company, announced participation in two investor conferences. CEO Mark A. Goldsmith will present at the Oppenheimer 31^st Annual Healthcare Conference on March 16, 2021, from 1:10 to 1:40 p.m. Eastern. Additionally, he will participate in a fireside chat at the J.P. Morgan 10^th Annual Napa Valley Forum on March 29, 2021, from 2:00 to 2:45 p.m. Eastern. Revolution Medicines focuses on developing targeted therapies for RAS-addicted cancers, with R&D initiatives around RAS(ON) and Companion Inhibitors.

Revolution Medicines (Nasdaq: RVMD) announced significant advancements in its RAS(ON) inhibitor development, entering IND-enabling stages for two candidates, RMC-6291 and RMC-6236. Both are aimed at addressing RAS-addicted cancers. The company successfully raised $281 million in net proceeds to fund these efforts. However, financial results revealed a decline in revenue, with full-year totals down from $50 million in 2019 to $43 million in 2020. The net loss also increased to $108.2 million in 2020, up from $47.7 million the previous year, with guidance suggesting a further loss of $170 million to $190 million for 2021.

Revolution Medicines (Nasdaq: RVMD) announced participation in the Digital RAS-Targeted Drug Discovery Summit from February 23-25, 2021. Steve Kelsey, M.D., will present on RAS(ON) Inhibitor programs, including RMC-6291 and RMC-6236, which are in IND-enabling development. Kelsey will also join a panel discussion on mechanisms of resistance in combination therapies. Additionally, Revolution Medicines will participate in three upcoming investor conferences, with presentations scheduled for February and March 2021.

Revolution Medicines (Nasdaq:RVMD) announced the closing of a public offering of 6,666,666 shares at $45.00 each, totaling gross proceeds of $300 million. This includes 869,565 additional shares sold after underwriters exercised their option. The offering was managed by J.P. Morgan, Cowen, SVB Leerink, and Guggenheim Securities, with prior SEC registration on February 3, 2021. Funds will support the company’s focus on developing targeted therapies for RAS-addicted cancers.

Revolution Medicines (Nasdaq: RVMD) has priced its underwritten public offering of 5,797,101 shares of common stock at $45.00 per share, aiming to raise approximately $260.9 million in gross proceeds. The offering includes a 30-day option for underwriters to purchase an additional 869,565 shares. The closing of this offering is anticipated on February 8, 2021, pending customary conditions. This fundraising initiative is aimed at advancing the company's pipeline focused on targeted therapies for RAS-addicted cancers.

Revolution Medicines (Nasdaq: RVMD) has initiated an underwritten public offering of 4,000,000 shares of common stock, with an option for underwriters to purchase an additional 600,000 shares.

Major banks including J.P. Morgan, Cowen, SVB Leerink, and Guggenheim Securities are serving as joint book-running managers for this offering. The offering is made through a registered prospectus filed with the SEC. This press release does not qualify as an offer to sell or buy these securities in jurisdictions where it is unlawful prior to registration.