Welcome to our dedicated page for Revolution Medicines news (Ticker: RVMD), a resource for investors and traders seeking the latest updates and insights on Revolution Medicines stock.
Revolution Medicines, Inc. (RVMD) is a clinical-stage precision oncology company dedicated to discovering and developing innovative targeted therapies that address the unmet needs of cancer patients. The company leverages its proprietary product engine to target frontier oncology pathways, with a strong focus on the RAS and mTOR signaling pathways, which are crucial for cancer growth and survival. Revolution Medicines’ approach draws inspiration from nature and evolution, harnessing insights from natural products to guide the discovery and development of small molecules that modulate key cancer targets.
The company’s research and development pipeline features several promising candidates, including RMC-4630, a SHP2 inhibitor, and a portfolio of RAS(ON) inhibitors such as RMC-6236, RMC-6291, and RMC-9805. These novel therapies aim to inhibit the active form of RAS proteins, which are common drivers in numerous cancer types. Revolution Medicines is also advancing the SOS1 and 4EBP1/mTORC1 programs, which hold significant potential in combination treatment strategies.
Recent achievements highlight the company’s progress in clinical development. Notably, the RMC-6236 Phase 1/1b trial demonstrated promising clinical activity and a favorable safety profile in patients with advanced solid tumors harboring KRAS mutations. The trial results showed an objective response rate of 38% in non-small cell lung cancer (NSCLC) and 20% in pancreatic ductal adenocarcinoma (PDAC), with disease control rates of 85% and 87%, respectively.
In October 2023, Revolution Medicines announced a pivotal milestone with the merger with EQRx, Inc., enhancing its financial position and enabling further investment in its clinical programs. The merger is expected to add approximately $1.1 billion in net cash proceeds, supporting the advancement of their RAS(ON) and RAS Companion Inhibitors. Dr. Sandra Horning, a renowned oncologist and former Genentech executive, joined the board of directors, bringing invaluable experience to the company.
Revolution Medicines continues to engage the scientific community and stakeholders through presentations at major conferences and investor webcasts. The company remains committed to advancing its robust pipeline of oncology therapies, aiming to revolutionize the treatment landscape for RAS-addicted cancers and improve outcomes for cancer patients worldwide.
Revolution Medicines (Nasdaq: RVMD) reported Q2 2022 financial results and significant progress in its clinical development pipeline targeting RAS-addicted cancers. The company commenced patient dosing in its Phase 1/1b trials for RMC-6236 and RMC-6291, advancing its RAS(ON) Inhibitor portfolio. They raised $265 million through public equity financing to support these developments. Notably, total revenue increased to $9.1 million, while net loss widened to $61.2 million. The company projected a net loss of $260 to $280 million for 2022, but affirmed sufficient funds to operate through 2024.
Revolution Medicines (Nasdaq: RVMD) will announce its Q2 2022 financial results on August 9, 2022, post-market close. A conference call led by the senior management team is scheduled for 4:30 p.m. ET to discuss the results and corporate progress. The company focuses on RAS-addicted cancers with a diverse pipeline of RAS(ON) Inhibitors, including RMC-6236 and RMC-6291, among others. The live conference can be accessed via a dedicated webcast.
Revolution Medicines has successfully completed a public offering of 13,225,000 shares of common stock at $20.00 per share, raising gross proceeds of $264.5 million. This includes the full exercise of an underwriters' option for an additional 1,725,000 shares. The offering, which is targeted at advancing the company’s oncology pipeline, was managed by J.P. Morgan, Cowen, and Guggenheim Securities. This offering follows a shelf registration statement filed with the SEC in March 2021.
Revolution Medicines, Inc. (Nasdaq: RVMD) has announced an underwritten public offering of 11,500,000 shares of common stock priced at $20.00 per share, aiming for gross proceeds of $230 million. The offering is set to close on July 22, 2022, pending customary conditions. Additionally, underwriters have a 30-day option to buy 1,725,000 more shares. J.P. Morgan, Cowen, and Guggenheim Securities are the joint book-running managers. This move is designed to further support the development of targeted therapies for RAS-addicted cancers.
Revolution Medicines (NASDAQ: RVMD) has announced a public offering of up to $200 million of common stock, with a potential additional $30 million available through underwriters. The offering is subject to market conditions, and completion is not guaranteed. The company focuses on developing targeted therapies for RAS-addicted cancers, with a pipeline that includes RAS(ON) Inhibitors and RAS Companion Inhibitors. The offering aims to fund further development of these therapies.
Revolution Medicines, Inc. (Nasdaq: RVMD) announced the appointment of Lorence Kim, M.D. to its board of directors on July 13, 2022. Dr. Kim, formerly CFO at Moderna, brings vital operational and financial expertise crucial for the company’s development pipeline of targeted therapies for RAS-addicted cancers. He replaces Neil Exter, enhancing the board as clinical trials for RMC-6236 and RMC-6291 progress. The company continues to make strides in evaluating drug combinations, particularly RMC-4630 with sotorasib, showing promising results that may advance cancer treatment.
Revolution Medicines (Nasdaq: RVMD) announced the initiation of patient dosing in its Phase 1/1b clinical trial of RMC-6236, a novel oral RAS(ON) Inhibitor targeting cancers driven by KRAS mutations. This trial represents a significant milestone as RMC-6236 is the first oral, direct RAS inhibitor assessed against tumors with the KRASG12D variant. The study aims to evaluate safety, tolerability, and determine the recommended Phase 2 dose. Additionally, Sushil Patel, Ph.D., has been elected to the board, bringing extensive oncology commercialization experience.
Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company focused on therapies for RAS-addicted cancers, will participate in the 43rd Annual Goldman Sachs Global Healthcare Conference from June 13-16, 2022. CEO Mark A. Goldsmith will host a live fireside chat on June 15, 2022, at 1:20 p.m. Pacific Time. Investors can access the live webcast at here, with an archived replay available for 14 days post-event.
Revolution Medicines, a clinical-stage oncology company, reported its Q1 2022 financial results, revealing a net loss of $57.6 million, up from $37.2 million in Q1 2021. Total revenue decreased to $7.6 million from $10.2 million year-over-year, mainly due to lower reimbursed development costs with Sanofi. However, the company is advancing its RAS(ON) Inhibitor pipeline, with RMC-6236 and RMC-6291 set to enter clinical trials this year. The company maintains a strong cash position of $518.8 million and expects a full-year net loss of $260 million to $290 million for 2022.
Revolution Medicines, Inc. (Nasdaq: RVMD) has announced the upcoming release of its financial results for Q1 2022 on May 9, 2022, after market close. The senior management team will conduct a conference call and webcast at 4:30 PM ET to discuss these results and update investors on corporate progress. Revolution Medicines specializes in developing targeted therapies for RAS-addicted cancers, including a diverse pipeline of RAS(ON) Inhibitors and RAS Companion Inhibitors. More details on the call can be found on their investor relations website.
FAQ
What is the current stock price of Revolution Medicines (RVMD)?
What is the market cap of Revolution Medicines (RVMD)?
What does Revolution Medicines, Inc. specialize in?
What are some of the key products in Revolution Medicines’ pipeline?
What recent achievements has Revolution Medicines reported?
What is the significance of the RMC-6236 Phase 1/1b trial?
How does the merger with EQRx benefit Revolution Medicines?
Who recently joined the board of Revolution Medicines?
What are RAS(ON) inhibitors?
How does Revolution Medicines generate insights for its drug discovery?
What are some of the ongoing trials at Revolution Medicines?
How can investors stay updated on Revolution Medicines’ developments?
