earnings
confidence high
sentiment neutral
materiality 0.65
Revolution Medicines Q1 net loss $57.6M; RAS(ON) inhibitors advancing toward clinic
Revolution Medicines, Inc.
2023-Q1 EPS reported
-$0.78
revenue$7,578,000
- Net loss $57.6M vs $37.2M YoY; revenue $7.6M from Sanofi collaboration (down from $10.2M).
- Cash and securities $518.8M at Mar 31, 2022, down from $577.1M at Dec 31, 2021.
- FY 2022 net loss guidance reaffirmed at $260M-290M, including $35M-40M stock-based comp.
- IND submitted for RMC-6236 (RAS MULTI); first patient dosing mid-2022. RMC-6291 IND on track for H1 2022.
- RMC-4630 Phase 2 combo with sotorasib enrolling; enrollment completion expected H2 2022.