Revolution Medicines reports Q1 EPS ($2.29), consensus ($1.84)

Cash, cash equivalents and marketable securities were $1.9B as of March 31. In April, the company received $2.1B in net proceeds from concurrent financings. “Last month we reported positive results from the RASolute 302 trial of daraxonrasib, demonstrating an unprecedented improvement in overall survival in patients with previously treated metastatic pancreatic cancer,” said Mark Goldsmith, M.D., Ph.D., CEO of Revolution Medicines (RVMD). “These results, which we intend to submit to global health authorities, mark a major advance for patients and strengthen our conviction in our RAS(ON) inhibition strategy across RAS-driven cancers. Reinforced by a growing body of evidence supporting our portfolio led by four innovative clinical-stage RAS(ON) inhibitors and continued expansion of our commercialization capabilities, our goal is to build Revolution Medicines into a leading targeted oncology company capable of delivering impactful therapies to patients worldwide.”