Revolution Medicines Q2 net loss $644M; FDA accepts daraxonrasib NDA for pancreatic cancer

Revolution Medicines, Inc.

Net loss $644.4M vs $247.8M YoY; R&D $394.9M, G&A $110.2M; cash $3.9B.
FDA accepted daraxonrasib NDA for previously treated metastatic pancreatic cancer; Breakthrough Therapy Designation for NSCLC.
New combo data: zoldonrasib + SOC in 1L G12D NSCLC: 82% ORR, 100% DCR; elironrasib + SOC in 1L G12C NSCLC: 85% ORR, 97% DCR.
Completed $2.225B gross proceeds from stock and convertible note offerings; received $250M from Royalty Pharma.
Updated FY2026 GAAP operating expense guidance to $2.1-2.2B, including $270-290M stock-based comp.

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