Revolution Medicines Q1 net loss $68.1M, cash $909.8M; guides FY net loss $360-400M

Revolution Medicines, Inc.

2023-Q1 EPS reported -$0.72 revenue$7,014,000

Net loss of $68.1M for Q1 2023 vs $57.6M loss in Q1 2022; R&D expenses $68.9M (up 22% YoY).
Cash $909.8M as of March 31, 2023, up from $644.9M in Dec 2022, boosted by $345M public offering in March.
Updated FY 2023 GAAP net loss guidance to $360-$400M; cash runway projected into 2025.
Appointed Wei Lin, M.D., as CMO; also hired senior VPs for commercial, regulatory, CMC.
Clinical progress: RMC-6236 data update mid-2023; RMC-6291 preliminary report H2 2023; RMC-9805 first patient dosing mid-2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Revolution Medicines, Inc. reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 8, 2023, Revolution Medicines, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2023.

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Revolution Medicines, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-018785

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