Revolution Medicines, Inc. Stock Price, News & Analysis

Revolution Medicines, Inc. (Nasdaq: RVMD) has initiated an underwritten public offering to sell up to $300 million of its common stock. The offering includes a 30-day option for underwriters to purchase an additional $45 million worth of shares. The offering is subject to market conditions and might not be completed as proposed. J.P. Morgan, TD Cowen, SVB Securities, and Guggenheim Securities are the joint book-running managers for this offering. The company focuses on developing targeted therapies for RAS-addicted cancers, with a robust R&D pipeline centered on RAS(ON) and Companion Inhibitors.

Revolution Medicines (RVMD) reported Q4 2022 financial results, revealing total revenue of $15.3 million versus $9.5 million YoY, primarily from collaboration with Sanofi. This increase was partly due to a non-cash $7.6 million revenue adjustment following the termination of the Sanofi agreement. R&D expenses surged to $66.1 million, reflecting higher clinical trial costs for new drugs RMC-6236 and RMC-6291. The company recorded a net loss of $56.5 million for the quarter. Looking ahead, RVMD anticipates a net loss of $335 to $365 million for 2023. Its pipeline includes several promising RAS(ON) Inhibitors with clinical advancements expected in 2023.

Revolution Medicines, Inc. (Nasdaq: RVMD) announced it will report its fourth quarter and full year 2022 financial results on February 27, 2023, after market close. Senior management will discuss these results and corporate progress during a webcast at 4:30 p.m. Eastern Time. The company is focused on developing targeted therapies for RAS-addicted cancers, with key products in clinical development, including RMC-6236 and RMC-6291. The webcast will also be available as an archived session on its website for at least 14 days.

Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology firm, announced its participation in two upcoming investor conferences. CEO Mark A. Goldsmith will speak at the Guggenheim Healthcare Talks 2023 Oncology Conference on February 9, 2023, at 9:00 a.m. Eastern, and at the SVB Securities Global Biopharma Conference on February 16, 2023, at 1:00 p.m. Eastern. The Guggenheim event will take place in-person at the St. Regis New York, while the SVB conference will be virtual. Live webcasts will be accessible through the company’s website, with replays available for 14 days post-conferences.

Revolution Medicines, a clinical-stage oncology firm focusing on targeted therapies for RAS-addicted cancers, announced that CEO Mark A. Goldsmith will present at the 41st Annual J.P. Morgan Healthcare Conference from January 9-12, 2023, in San Francisco. Goldsmith's presentation is scheduled for January 10 at 11:15 a.m. Pacific in the Georgian Room of the Westin St. Francis Hotel. Live access to the presentation will be available on the company's website, and a replay will be accessible for at least 14 days post-conference.

Revolution Medicines (Nasdaq: RVMD) announced the publication of a manuscript in the Journal of Medicinal Chemistry detailing RMC-5552, a bi-steric mTORC1-selective inhibitor. This compound exhibits a remarkable 40-fold selectivity for mTORC1 over mTORC2. Preclinical studies revealed that RMC-5552, in combination with a KRAS^G12C inhibitor, led to tumor regressions in resistant non-small cell lung cancer models. Phase 1/1b trials for RMC-5552 in patients with refractory solid tumors are ongoing, with promising initial antitumor activity reported.

Revolution Medicines, Inc. (Nasdaq: RVMD) announced the termination of its collaboration with Sanofi for the development of RMC-4630, a SHP2 inhibitor for RAS-addicted cancers. This decision allows Revolution Medicines to regain full control over the drug’s development and commercialization strategies. The transition is expected to occur in the first half of 2023. The company will continue its Phase 2 study of RMC-4630 in combination with sotorasib, providing topline data by late 2023. The projected 2022 GAAP net loss is updated to $245-265 million.

Revolution Medicines, a clinical-stage oncology company (Nasdaq: RVMD), announced participation in two investor conferences. CEO Mark A. Goldsmith will host fireside chats at the H.C. Wainwright 3rd Annual Precision Oncology Virtual Conference on November 14, 2022, at 7:00 a.m. Eastern, and the 5th Annual Evercore ISI HealthCONx Conference from November 29 to December 1, 2022, with his chat scheduled for December 1 at 2:15 p.m. Eastern. Webcasts of the chats will be available online, with archived replays for at least 14 days.

Revolution Medicines (RVMD) reported its Q3 2022 financial results, highlighting ongoing Phase 1/1b trials for RMC-6236 and RMC-6291, aimed at treating RAS-addicted cancers. The company completed a public equity financing in July, raising approximately $265 million to enhance its financial position. Q3 revenue stood at $3.4 million, with a net loss of $73.3 million. R&D expenses rose to $69.5 million, driven by clinical trial activities. RVMD maintains a cash position of $655 million, projecting to fund operations through 2024.