Revolution Medicines Q2 net loss $61.2M; advances first two RAS(ON) inhibitors into clinic

Revolution Medicines, Inc.

2022-Q2 EPS reported -$1.60 revenue$16,694,000

Net loss $61.2M in Q2 2022 vs $44.3M in Q2 2021; revenue from Sanofi collab $9.1M.
Cash, equivalents and securities $461.4M at June 30, 2022; July public offering raised $264.5M gross.
Updated FY 2022 GAAP net loss guidance to $260-280M; stock-based comp $30-35M.
First patient dosed in Phase 1/1b trial of RAS(ON) inhibitor RMC-6236; site activation for RMC-6291 underway.
Appointed Lorence Kim (ex-Moderna, Goldman Sachs) and Sushil Patel (ex-Genentech) to Board of Directors.

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