Revolution Medicines Reports Second Quarter 2025 Financial Results and Update on Corporate Progress
Revolution Medicines (Nasdaq: RVMD) reported Q2 2025 financial results and corporate updates, highlighting significant progress in its oncology pipeline. The company's lead drug daraxonrasib received FDA Breakthrough Therapy Designation for PDAC treatment, with Phase 3 trial RASolute 302 expected to complete enrollment this year. A major financial milestone includes securing a $2 billion flexible funding agreement with Royalty Pharma.
The company reported Q2 2025 financial results with a net loss of $247.8 million (vs $133.2 million in Q2 2024), R&D expenses of $224.1 million, and G&A expenses of $40.6 million. Cash position stands at $2.1 billion, including $250 million from Royalty Pharma. Full-year 2025 projected GAAP net loss is estimated between $1.03-1.09 billion.
Multiple clinical programs are advancing, including elironrasib's FDA Breakthrough Therapy Designation for NSCLC treatment and promising developments with zoldonrasib for KRAS G12D mutations.
Revolution Medicines (Nasdaq: RVMD) ha comunicato i risultati finanziari del secondo trimestre 2025 e aggiornamenti aziendali, evidenziando notevoli progressi nel suo portafoglio oncologico. Il farmaco di punta daraxonrasib ha ricevuto la Designazione di Terapia Sperimentale Innovativa dalla FDA per il trattamento del PDAC, con la fase 3 dello studio RASolute 302 che dovrebbe completare il reclutamento entro quest'anno. Un importante traguardo finanziario è stato raggiunto con la stipula di un accordo di finanziamento flessibile da 2 miliardi di dollari con Royalty Pharma.
L'azienda ha riportato i risultati finanziari del Q2 2025 con una perdita netta di 247,8 milioni di dollari (rispetto a 133,2 milioni nel Q2 2024), spese di R&S pari a 224,1 milioni e spese amministrative e generali di 40,6 milioni. La posizione di cassa ammonta a 2,1 miliardi di dollari, inclusi 250 milioni provenienti da Royalty Pharma. La perdita netta GAAP prevista per l'intero 2025 è stimata tra 1,03 e 1,09 miliardi di dollari.
Diversi programmi clinici stanno avanzando, tra cui la designazione di terapia innovativa FDA per elironrasib nel trattamento del NSCLC e sviluppi promettenti con zoldonrasib per le mutazioni KRAS G12D.
Revolution Medicines (Nasdaq: RVMD) informó los resultados financieros del segundo trimestre de 2025 y actualizaciones corporativas, destacando avances significativos en su cartera oncológica. El medicamento principal daraxonrasib recibió la Designación de Terapia Innovadora por la FDA para el tratamiento de PDAC, y se espera que el ensayo de fase 3 RASolute 302 complete la inscripción este año. Un hito financiero importante es la obtención de un acuerdo de financiación flexible de 2 mil millones de dólares con Royalty Pharma.
La compañía reportó resultados financieros del Q2 2025 con una pérdida neta de 247.8 millones de dólares (frente a 133.2 millones en Q2 2024), gastos en I+D de 224.1 millones y gastos administrativos y generales de 40.6 millones. La posición de efectivo es de 2.1 mil millones de dólares, incluyendo 250 millones de Royalty Pharma. La pérdida neta GAAP proyectada para todo 2025 se estima entre 1.03 y 1.09 mil millones de dólares.
Varios programas clínicos están avanzando, incluyendo la Designación de Terapia Innovadora FDA para elironrasib en el tratamiento de NSCLC y desarrollos prometedores con zoldonrasib para mutaciones KRAS G12D.
Revolution Medicines (나스�: RVMD)� 2025� 2분기 재무 결과 � 기업 업데이트� 발표하며 종양� 파이프라인에� 중요� 진전� 강조했습니다. 회사� 주력 약물 다락소나시브(岹Dz)� PDAC 치료� 위해 FDA 혁신 치료 지�(Breakthrough Therapy Designation)� 받았으며, 3� 시험� RASolute 302� 등록 완료가 올해 예상됩니�. 주요 재무 성과로는 Royalty Pharma와� 20� 달러 규모� 유연� 자금 조달 계약 체결� 포함됩니�.
회사� 2025� 2분기 재무 결과� 보고했으�, 순손실은 2� 4,780� 달러(2024� 2분기 1� 3,320� 달러 대�), 연구개발비는 2� 2,410� 달러, 일반관리비� 4,060� 달러였습니�. 현금 보유액은 21� 달러�, � � 2� 5,000� 달러가 Royalty Pharma에서 유입되었습니�. 2025� 전체 GAAP 순손� 예상치는 10� 3천만 달러에서 10� 9천만 달러 사이� 추정됩니�.
여러 임상 프로그램� 진행 중이�, NSCLC 치료� 위한 엘리론라시브(elironrasib)� FDA 혁신 치료 지�� KRAS G12D 돌연변이에 대� 졸도나시�(zoldonrasib)� 유망� 개발� 포함됩니�.
Revolution Medicines (Nasdaq : RVMD) a publié ses résultats financiers du deuxième trimestre 2025 ainsi que des mises à jour corporatives, mettant en avant des progrès significatifs dans son pipeline oncologique. Le médicament phare de la société, daraxonrasib, a reçu la désignation de thérapie révolutionnaire par la FDA pour le traitement du PDAC, avec l'essai de phase 3 RASolute 302 qui devrait terminer son recrutement cette année. Un jalon financier majeur inclut la sécurisation d'un accord de financement flexible de 2 milliards de dollars avec Royalty Pharma.
La société a annoncé des résultats financiers du T2 2025 avec une perte nette de 247,8 millions de dollars (contre 133,2 millions au T2 2024), des dépenses en R&D de 224,1 millions et des frais généraux et administratifs de 40,6 millions. La trésorerie s'élève à 2,1 milliards de dollars, incluant 250 millions provenant de Royalty Pharma. La perte nette GAAP projetée pour l'année complète 2025 est estimée entre 1,03 et 1,09 milliard de dollars.
Plusieurs programmes cliniques progressent, notamment la désignation de thérapie révolutionnaire FDA pour elironrasib dans le traitement du NSCLC et des développements prometteurs avec zoldonrasib pour les mutations KRAS G12D.
Revolution Medicines (Nasdaq: RVMD) meldete die Finanzergebnisse für das zweite Quartal 2025 sowie Unternehmensupdates und hob bedeutende Fortschritte in seiner Onkologie-Pipeline hervor. Das führende Medikament daraxonrasib erhielt die FDA Breakthrough Therapy Designation für die Behandlung von PDAC, wobei die Phase-3-Studie RASolute 302 voraussichtlich noch in diesem Jahr die Rekrutierung abschließen wird. Ein wichtiger finanzieller Meilenstein ist der Abschluss einer flexiblen Finanzierungsvereinbarung über 2 Milliarden US-Dollar mit Royalty Pharma.
Das Unternehmen berichtete über die Finanzergebnisse des Q2 2025 mit einem Nettoverlust von 247,8 Millionen US-Dollar (gegenüber 133,2 Millionen im Q2 2024), F&E-Ausgaben von 224,1 Millionen und Verwaltungsaufwendungen von 40,6 Millionen. Die Barreserve beträgt 2,1 Milliarden US-Dollar, einschließlich 250 Millionen von Royalty Pharma. Der für das Gesamtjahr 2025 prognostizierte GAAP-Nettoverlust wird auf 1,03 bis 1,09 Milliarden US-Dollar geschätzt.
Mehrere klinische Programme schreiten voran, darunter die FDA Breakthrough Therapy Designation für elironrasib zur Behandlung von NSCLC sowie vielversprechende Entwicklungen mit zoldonrasib bei KRAS G12D-Mutationen.
- Secured $2 billion flexible funding agreement with Royalty Pharma
- FDA Breakthrough Therapy Designations granted for both daraxonrasib and elironrasib
- Strong cash position of $2.1 billion as of June 30, 2025
- RASolute 302 Phase 3 trial expected to complete enrollment this year
- Positive clinical data for elironrasib showing competitive profile in NSCLC treatment
- Increased net loss to $247.8 million in Q2 2025 from $133.2 million in Q2 2024
- R&D expenses increased significantly to $224.1 million from $134.9 million year-over-year
- G&A expenses nearly doubled to $40.6 million from $21.7 million year-over-year
- Projected substantial full-year 2025 net loss of $1.03-1.09 billion
Insights
Revolution Medicines shows strong clinical progress with two Breakthrough Therapy Designations and secured $2B funding while advancing late-stage cancer trials.
Revolution Medicines is displaying remarkable execution across its RAS(ON) inhibitor platform, with particularly notable progress for its lead candidate daraxonrasib. The company is winding down U.S. enrollment in the Phase 3 RASolute 302 trial for previously treated pancreatic cancer patients and expects to complete global enrollment this year, positioning for a 2026 data readout. This timeline acceleration suggests confidence in their recruitment capabilities and trial infrastructure.
The FDA Breakthrough Therapy Designations for both daraxonrasib and elironrasib represent significant regulatory validation. These designations aren't merely ceremonial � they provide enhanced FDA interaction, potential accelerated approval pathways, and rolling review possibilities. Only about 35% of drugs with this designation ultimately receive approval, but those that do average 2.2 years faster approval time.
The $2 billion flexible funding agreement with Royalty Pharma (with $250 million already received) fundamentally transforms Revolution's financial position. With $2.1 billion in cash reserves, the company now has a runway that extends well beyond near-term clinical catalysts. This significantly reduces financing risk during a critical period of late-stage development and potential commercialization.
Revolution is pursuing an aggressive expansion strategy, moving daraxonrasib into earlier treatment lines with planned first-line and adjuvant PDAC trials, while also advancing elironrasib and zoldonrasib toward potential pivotal trials by 2026. The quarterly net loss of
The formation of a clinical collaboration with Summit Therapeutics to evaluate combinations with ivonescimab (PD-1/VEGF bispecific antibody) highlights Revolution's strategy of maximizing efficacy through rational combinations. This approach could potentially address resistance mechanisms and expand the therapeutic window for their RAS(ON) inhibitors.
Revolution Medicines' RAS(ON) inhibitor platform is targeting one of oncology's most historically undruggable yet critically important pathways. What makes their approach particularly compelling is the mechanism of directly binding to activated, GTP-bound RAS proteins in their active "ON" state � a distinctly different approach than earlier KRAS inhibitors which primarily bind the inactive GDP-bound form.
The clinical data mentioned for elironrasib in previously treated KRAS G12C NSCLC patients demonstrates both compelling efficacy and differentiated safety. This safety differentiation is particularly meaningful as existing G12C inhibitors like sotorasib and adagrasib have shown dose-limiting toxicities. A therapeutic with preserved efficacy but improved tolerability could significantly expand the treatable patient population.
For zoldonrasib, the reported activity in KRAS G12D mutant cancers addresses a mutation present in approximately
The company's strategy of developing combination approaches with immunotherapy (pembrolizumab) aligns with emerging evidence that RAS pathway inhibition can create more immunologically "hot" tumors by altering the tumor microenvironment and potentially enhancing T-cell infiltration. The new collaboration with Summit to explore combinations with ivonescimab (PD-1/VEGF bispecific) is particularly intriguing, as dual VEGF/PD-1 inhibition might provide synergistic effects with RAS inhibition by addressing both immune suppression and tumor vascularization mechanisms.
The advancement of RMC-5127 targeting KRAS G12V mutations expands their potential reach to another significant mutation subtype, particularly relevant in colorectal and pancreatic cancers. Their platform approach of developing mutation-selective inhibitors allows for potentially optimized safety/efficacy profiles tailored to each specific mutation context.
- Strong execution of two ongoing Phase 3 trials of daraxonrasib; for RASolute 302, company is winding down enrollment in U.S. and expects to complete enrollment of the trial this year
- FDA Breakthrough Therapy Designations granted for two RAS(ON) inhibitors, daraxonrasib and elironrasib
- Company entered into
$2 billion flexible funding agreement with Royalty Pharma to support bold vision for global development and commercialization - Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time
REDWOOD CITY, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced its financial results for the quarter ended June 30, 2025, and provided an update on corporate progress.
The company continues to make meaningful progress on its near-term strategic priorities:
Execute pivotal trials with daraxonrasib monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC)
RASolute 302, a global Phase 3 trial of daraxonrasib in patients with previously treated PDAC, continues to enroll well. The company is winding down enrollment in the U.S. while continuing to enroll patients outside the U.S. to support global registration. The company expects to complete enrollment in this trial this year to enable an expected data readout in 2026.
The company recently that daraxonrasib received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for previously treated metastatic PDAC in patients with KRAS G12 mutations.
In RASolve 301, a global Phase 3 trial of daraxonrasib in patients with previously treated NSCLC, the company continues enrolling patients in the U.S. and is now activating trial sites in Europe and Japan.
Advance daraxonrasib into earlier line randomized pivotal trials in patients with PDAC and NSCLC
The company remains on track to initiate a registrational trial this year with daraxonrasib as first line treatment for patients with metastatic PDAC; this is planned as a three-arm trial comparing daraxonrasib or daraxonrasib plus chemotherapy to chemotherapy. Later this year, the company expects to share the trial design and clinical combination data that informed this planned trial.
The company also remains on track to initiate a registrational trial this year with daraxonrasib as adjuvant treatment for patients with resectable PDAC and expects to share the trial design later this year.
Based on new clinical data by the company last quarter indicating that daraxonrasib can be combined productively with pembrolizumab with or without platinum doublet chemotherapy as a first line treatment of patients with RAS mutant NSCLC, the company expects to initiate a Phase 3 registrational trial in this indication in 2026.
Generate sufficient data to inform development priorities for the mutant-selective inhibitors elironrasib and zoldonrasib and prepare to initiate one or more pivotal trials either as monotherapy or in a drug combination
The company continues to study its mutant-selective inhibitors elironrasib and zoldonrasib as monotherapy and in drug combinations.
The company recently an updated clinical data set from patients with previously treated KRAS G12C NSCLC treated with elironrasib as monotherapy that showed a highly competitive profile, including differentiated safety and tolerability along with a compelling objective response rate and progression-free survival. The company also showed clinical evidence that elironrasib can be combined productively with pembrolizumab in first line NSCLC patients with an acceptable safety and tolerability profile.
Further, the company recently that elironrasib received FDA Breakthrough Therapy Designation for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic NSCLC who have received prior chemotherapy and immunotherapy but have not been previously treated with a KRAS G12C inhibitor. The company believes this designation is a recognition of the significant unmet medical need and elironrasib’s potential to serve these patients. Currently there are no RAS-targeted inhibitors with full FDA approval for treating patients with KRAS G12C NSCLC.
For zoldonrasib, clinical data in April demonstrated acceptable tolerability and encouraging initial antitumor activity in patients with previously treated KRAS G12D NSCLC, which follows encouraging data reported previously in patients with KRAS G12D PDAC.
The company expects to initiate one or more pivotal combination trials in 2026 that incorporate either zoldonrasib or elironrasib.
Progress earlier stage pipeline, including advancing next-generation innovations from the company’s highly productive discovery organization
Clinical development of RMC-5127, a RAS(ON) G12V-selective inhibitor, remains on track to reach a clinic-ready stage in 2025 to enable an expected Phase 1 initiation in 2026.
The company also continues to invest in collaborations designed to enhance its discovery efforts, recently a drug discovery collaboration with Iambic Therapeutics, in which Iambic will use its cutting-edge AI capabilities to generate customized models through training with Revolution Medicines� proprietary data. This collaboration aims to enhance Revolution Medicines� lead discovery and optimization processes directed against both current and new drug targets to ensure the company continues building a highly impactful and sustainable pipeline.
Grow global commercialization and operational capabilities and advance launch readiness
The company recently a partnership with Royalty Pharma, which provides
“As we advance our innovative RAS(ON) inhibitors through late-stage development and prepare for potential commercialization, we are scaling the effort to meet the ever-growing opportunities afforded by our pipeline,� said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “With our maturing pipeline, organizational capabilities and recently bolstered financial wherewithal, we are on a path toward becoming a fully integrated, global oncology company with an industry-leading franchise of targeted therapies for patients with RAS-addicted cancers.�
Other Corporate Updates
Building on recently clinical data supporting combinations of its RAS(ON) inhibitors with pembrolizumab, a leading PD-1 antibody, the company that it had entered into a clinical collaboration with Summit Therapeutics in multiple solid tumor settings to evaluate the safety and efficacy of Revolution Medicines� clinical-stage RAS(ON) inhibitors in combination with Summit Therapeutics� ivonescimab, an innovative PD-1 / VEGF bispecific antibody.
Financial Highlights
Second Quarter Results
Cash Position:Cash, cash equivalents and marketable securities were
R&D Expenses: Research and development expenses were
G&A Expenses: General and administrative expenses were
Net Loss: Net loss was
Financial Guidance
Revolution Medicines is projecting full year 2025 GAAP net loss guidance of between
Webcast
Revolution Medicines will host a webcast this afternoon, August 6, 2025, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). To listen to the live webcast, or access the archived webcast, please visit: . Following the live webcast, a replay will be available on the company’s website for at least 14 days.
About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; and zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor, are currently in clinical development. The company anticipates that RMC-5127, a RAS(ON) G12V-selective inhibitor, will be its next RAS(ON) inhibitor to enter clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit and follow us on .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,� including without limitation statements regarding the company’s financial projections and guidance; the company’s development opportunities, plans and timelines and its ability to build or advance its portfolio and R&D pipeline; progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied; the company’s expectations regarding timing of clinical trial initiation, enrollment and data readouts or disclosures and clinical trial designs; collaborations, including the aims and expected benefits of the Company’s collaboration with Iambic; sources of capital, including the availability of capital under the Royalty Pharma arrangement and whether the company achieves the milestones associated with certain payments thereunder.
Forward-looking statements are typically, but not always, identified by the use of words such as “aims,� “anticipate,� "believe," "estimate," "expect," "plan," “potential,� “project,� “up to,� "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs� development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines� Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC�) on August 6, 2025, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
Revolution Medicines Media & Investor Contact:
REVOLUTION MEDICINES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share data) (unaudited) | ||||||||||||||||
Three Months Ended June30, | Six Months Ended June30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | $ | 224,134 | $ | 134,932 | $ | 429,883 | $ | 252,953 | ||||||||
General and administrative | 40,580 | 21,711 | 75,591 | 44,549 | ||||||||||||
Total operating expenses | 264,714 | 156,643 | 505,474 | 297,502 | ||||||||||||
Loss from operations | (264,714 | ) | (156,643 | ) | (505,474 | ) | (297,502 | ) | ||||||||
Other income (expense), net: | ||||||||||||||||
Interest income | 22,404 | 21,487 | 47,319 | 45,247 | ||||||||||||
Interest and other income (expense), net | (899 | ) | 16 | (909 | ) | (2,793 | ) | |||||||||
Change in fair value of warrant liabilities and contingent earn-out shares | (4,578 | ) | 1,907 | (2,139 | ) | 5,812 | ||||||||||
Total other income, net | 16,927 | 23,410 | 44,271 | 48,266 | ||||||||||||
Loss before income taxes | (247,787 | ) | (133,233 | ) | (461,203 | ) | (249,236 | ) | ||||||||
Net loss | $ | (247,787 | ) | $ | (133,233 | ) | $ | (461,203 | ) | $ | (249,236 | ) | ||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (1.31 | ) | $ | (0.81 | ) | $ | (2.45 | ) | $ | (1.51 | ) | ||||
Weighted-average common shares used to compute net loss per share, basic and diluted | 188,583,288 | 165,141,936 | 188,365,805 | 164,935,542 | ||||||||||||
REVOLUTION MEDICINES, INC. SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, unaudited) | ||||||||
June 30, 2025 | December 31, 2024 | |||||||
Cash, cash equivalents and marketable securities | $ | 2,137,171 | $ | 2,289,299 | ||||
Working capital (1) | 1,991,905 | 2,163,718 | ||||||
Total assets | 2,429,568 | 2,558,301 | ||||||
Total liabilities | 564,199 | 293,097 | ||||||
Total stockholders' equity | 1,865,369 | 2,265,204 |
(1) Working capital is defined as current assets less current liabilities.
