Revolution Medicines secures up to $2B financing from Royalty Pharma, withdraws cash runway guidance

Revolution Medicines, Inc.

Received $250M upfront from Royalty Pharma; up to $1.25B total synthetic royalty on daraxonrasib sales.
Loan facility of up to $750M senior secured term loan (SOFR+5.75%, 3.50% floor), interest-only, matures by 2032.
Additional tranches tied to daraxonrasib approval milestones; company retains global commercialization control.
Withdraws prior cash runway end date and 2025 GAAP net loss guidance; expects updated guidance in Q2 2025 earnings.

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