Revolution Medicines Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Revolution Medicines, Inc. (Nasdaq: RVMD) has launched an underwritten public offering of 5,500,000 shares of common stock. The company plans to grant underwriters a 30-day option to purchase an additional 825,000 shares. J.P. Morgan, Cowen, SVB Leerink, and Guggenheim Securities are serving as joint book-running managers for the offering. A registration statement has been filed with the SEC, but it is not yet effective. This press release does not constitute an offer to sell or a solicitation to buy securities.

Positive

• Proceeds from the offering could fund further development of targeted therapies.
• Involvement of reputable underwriters signals confidence in the offering.

Negative

• Dilution of existing shares may impact current shareholders.
• Market conditions could affect the completion and size of the offering.

REDWOOD CITY, Calif., July 06, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq:RVMD) today announced that it has commenced an underwritten public offering of 5,500,000 shares of common stock. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock.

J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Revolution Medicines, Inc.

Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses sophisticated structure-based drug discovery capabilities built upon deep chemical biology and cancer pharmacology know-how and innovative, proprietary technologies that enable the creation of small molecules tailored to unconventional binding sites.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding completion, timing and size of the proposed public offering that involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to the business of the Company in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, the preliminary prospectus for this offering included as part of the Registration Statement on Form S-1 related to the proposed offering filed with the SEC on July 6, 2020, and its future periodic reports to be filed with the SEC.

Contacts

Vida Strategic Partners

Stephanie Diaz (Investors)
415-675-7401


Tim Brons (Media)
415-675-7402

FAQ

What is the size of the public offering by Revolution Medicines (RVMD)?

The public offering is for 5,500,000 shares of common stock, with a potential additional 825,000 shares.

Who are the underwriters for the RVMD public offering?

The underwriters include J.P. Morgan, Cowen, SVB Leerink, and Guggenheim Securities.

What are the potential risks of the RVMD stock offering?

The offering may dilute existing shares and is subject to market conditions and regulatory approvals.

When was the public offering announced for RVMD?

The public offering was announced on July 6, 2020.

How can I access the prospectus for the RVMD stock offering?

The prospectus will be available through the underwriters once effective.