Revolution Medicines Reports Q2 FY25 Earnings, Grants Breakthrough Therapy Designations

• Revolution Medicines reports Q2 2025 financial results • Phase 3 trials of daraxonrasib ongoing with strong execution • FDA Breakthrough Therapy Designations for daraxonrasib and elironrasib • $2 billion flexible funding agreement with Royalty Pharma • Company to hold webcast today at 4:30 p.m. Eastern Time

Redwood City, Calif. — Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, has announced its financial results for the quarter ended June 30, 2025. The company reported a cash position of $2.1 billion, with $250 million from the first tranche of royalty monetization from Royalty Pharma. Research and development expenses increased to $224.1 million, up from $134.9 million in the previous year, primarily due to increases in clinical trial and manufacturing expenses for daraxonrasib, zoldonrasib, and elironrasib, as well as personnel-related expenses and stock-based compensation. General and administrative expenses were $40.6 million, up from $21.7 million, mainly due to increases in personnel-related expenses and commercial preparation activities. The company reported a net loss of $247.8 million for the quarter, compared to $133.2 million in the previous year.

Revolution Medicines is projecting a full year 2025 GAAP net loss guidance of between $1.03 billion and $1.09 billion, including estimated non-cash stock-based compensation expense of between $115 million and $130 million. The company continues to make meaningful progress on its strategic priorities, including executing pivotal trials with daraxonrasib monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC). 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.

Daraxonrasib received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for previously treated metastatic PDAC in patients with KRAS G12 mutations. The company also remains on track to initiate a registrational trial this year with daraxonrasib as first line treatment for patients with metastatic PDAC. Additionally, the company expects to initiate a Phase 3 registrational trial in 2026 for daraxonrasib as adjuvant treatment for patients with resectable PDAC.

The company continues to study its mutant-selective inhibitors elironrasib and zoldonrasib as monotherapy and in drug combinations. 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. For zoldonrasib, clinical data presented in April demonstrated acceptable tolerability and encouraging initial antitumor activity in patients with previously treated KRAS G12D NSCLC.

The company recently announced a partnership with Royalty Pharma, providing $2 billion in committed capital upon achievement of agreed-upon milestones through a flexible mix of synthetic royalty and debt instruments. This flexible funding agreement provides the company with strategic agility and ability to secure the resources needed to advance its ambitious global clinical development and commercialization plans.

Revolution Medicines will hold a webcast today at 4:30 p.m. Eastern Time to discuss the financial results and corporate progress. For more information, visit [1] https://ir.revmed.com/events-and-presentations.

References:
[1] https://www.stocktitan.net/news/RVMD/revolution-medicines-reports-second-quarter-2025-financial-results-qq6dyy82gy6f.html