Royalty Pharma triggers $250M milestone after positive daraxonrasib Phase 3 results

Royalty Pharma plc

Revolution Medicines' RASolute 302 trial met primary and key secondary endpoints (PFS and OS) in metastatic PDAC.
Royalty Pharma funded $250M upfront; positive data triggers additional $250M milestone, total $500M funded.
Royalty Pharma now earns 4.55% tiered royalty on daraxonrasib sales up to $2B, lower rates above $2B.
Additional $750M synthetic royalty available upon FDA approval and other milestones; first $250M on approval.
Senior secured loan of up to $750M available; first $250M tranche must be drawn after FDA approval.

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