Revolution Medicines Q2 net loss $247.8M; advances Phase 3 RAS trials; $2B Royalty Pharma deal

Revolution Medicines, Inc.

2025-Q2 EPS reported -$2.45

Net loss $247.8M vs $133.2M YoY; R&D expenses rose to $224.1M; FY2025 net loss guidance $1.03B-$1.09B.
FDA Breakthrough Therapy Designation for daraxonrasib (KRAS G12C PDAC) and elironrasib (KRAS G12C NSCLC).
Entered $2B flexible funding agreement with Royalty Pharma; first $250M tranche received; cash $2.1B.
RASolute 302 Phase 3 trial for PDAC enrollment to complete this year; data readout expected 2026.
Plans to initiate registrational trials for first-line PDAC and adjuvant PDAC in 2025; Phase 3 for first-line NSCLC in 2026.

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