On Target to Outsmart Cancer November 2025 © 2025 Revolution Medicines, Inc. 2 Legal Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, prospective products, availability of funding, ability to manage existing collaborations and estab ...

Drug Development and Clinical Trials - The company is developing a pipeline of RAS(ON) inhibitors, including daraxonrasib, elironrasib, and zoldonrasib, targeting RAS-addicted cancers [111]. - Daraxonrasib has received Breakthrough Therapy Designation from the FDA for previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) with KRAS G12 mutations [112]. - The ongoing RASolute 302 study is a Phase 3 trial comparing daraxonrasib (300 mg daily) to chemotherapy, with expected clinical readout in 2026 [113]. - Elironrasib has received Breakthrough Therapy Designation from the FDA for KRAS G12C-mutated locally advanced or metastatic NSCLC [124]. - The company plans to initiate a global Phase 3 trial of daraxonrasib in combination with pembrolizumab and chemotherapy in 2026 [116]. - Clinical data for daraxonrasib showed it was well tolerated and demonstrated encouraging antitumor activity in patients with RAS-mutant PDAC [117]. - The company is evaluating multiple combination regimens for daraxonrasib, including with pembrolizumab and standard chemotherapy agents [120]. - Zoldonrasib is designed to irreversibly inactivate RAS G12D and is currently in development [130]. - The company is advancing RMC-5127 (G12V) into clinical development, expanding its RAS(ON) inhibitor portfolio [111]. - The company is winding down enrollment for the RASolute 302 study as it nears completion at all sites [113]. - The company expects to initiate a registration trial for zoldonrasib combination therapy in first-line metastatic PDAC in the first half of 2026 [132]. - A first-in-human dose escalation clinical trial of RMC-5127 is expected to begin in Q1 2026 [134]. - The company plans to conduct additional pivotal combination studies in 2026 that incorporate either zoldonrasib or elironrasib [132]. - The company entered into a collaboration with Tango Therapeutics in November 2024 to investigate vopimetostat in combination with daraxonrasib and zoldonrasib [139]. Financial Performance - Research and development expenses for Q3 2025 were $262.5 million, an increase of 73% from $151.8 million in Q3 2024 [152]. - General and administrative expenses for Q3 2025 were $52.8 million, up 120% from $24.0 million in Q3 2024 [152]. - Total operating expenses for the nine months ended September 30, 2025, reached $820.7 million, a 73% increase compared to $473.2 million for the same period in 2024 [152]. - The net loss for Q3 2025 was $305.2 million, compared to a net loss of $156.3 million in Q3 2024, reflecting an increase of 95% [152]. - Interest income for Q3 2025 was $22.1 million, an increase from $20.4 million in Q3 2024 [152]. - Research and development expenses increased by $110.8 million, or 73%, during the three months ended September 30, 2025, compared to the same period in 2024, primarily due to higher clinical trial expenses for daraxonrasib [153]. - Total research and development expenses for the nine months ended September 30, 2025, were $692.4 million, an increase of $288.3 million, or 71%, compared to the same period in 2024 [154]. - General and administrative expenses rose by $28.8 million, or 120%, during the three months ended September 30, 2025, driven by increased commercial preparation and employee-related expenses [155]. - Interest income increased by $1.7 million during the three months ended September 30, 2025, due to a larger cash and marketable securities balance [157]. - Interest expense increased by $11.4 million during the three months ended September 30, 2025, primarily due to the Royalty Purchase Agreement [158]. - As of September 30, 2025, the company had $1.9 billion in cash, cash equivalents, and marketable securities [172]. - The company completed the EQRx Acquisition in November 2023, issuing 54,786,528 shares and receiving $1.1 billion in net cash [162]. - The company entered into a Royalty Purchase Agreement in June 2025, receiving an upfront payment of $250 million and the potential for an additional $1 billion in synthetic royalty funding [164]. - The company has an accumulated deficit of $2.5 billion as of September 30, 2025, with primary cash usage for research and development expenditures [173]. - The company expects expenses to continue to increase as it advances product candidates into later stages of development, including larger clinical trials [173]. - The company has cash, cash equivalents, and marketable securities totaling $1.9 billion as of September 30, 2025, down from $2.3 billion as of December 31, 2024 [191]. - Cash used in operating activities for the nine months ended September 30, 2025, was $623.5 million, attributed to a net loss of $766.4 million [177]. - Cash provided by investing activities for the nine months ended September 30, 2025, was $43.2 million, consisting of $1.5 billion in maturities of marketable securities [179]. - Cash provided by financing activities for the nine months ended September 30, 2025, included $244.2 million from the sale of future royalties [181]. - The company anticipates substantial additional funds will be required for development efforts and potential commercialization of current and future programs [175]. - The company may seek additional capital through various means, including public or private equity offerings and debt financings, depending on market conditions [175]. - Cash used in operating activities for the nine months ended September 30, 2024, was $419.1 million, with a net loss of $405.5 million [178]. - The company entered into a Royalty Purchase Agreement in June 2025, allowing Royalty Pharma to receive tiered royalty payments on worldwide net product sales of daraxonrasib and zoldonrasib [185]. - The company has contractual obligations related to office and laboratory space lease in Redwood City, California [183]. - The company is exposed to interest rate risk, but historical fluctuations in interest income have not been significant due to the short-term maturities of its cash equivalents and marketable securities [191].

Core Insights - Revolution Medicines, Inc. reported significant advancements in its clinical programs for RAS-addicted cancers, particularly with daraxonrasib, and aims to set new global standards of care for these patients [2][3][4] Financial Highlights - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $1.93 billion, which includes a $250 million royalty monetization tranche received in June 2025 [15] - Research and development expenses for Q3 2025 were $262.5 million, up from $151.8 million in Q3 2024, primarily due to increased clinical trial and manufacturing expenses [16] - General and administrative expenses rose to $52.8 million in Q3 2025 from $24.0 million in Q3 2024, driven by personnel-related costs and legal expenses [17] - The net loss for Q3 2025 was $305.2 million, compared to a net loss of $156.3 million in Q3 2024 [18] - The company reiterated its full-year 2025 GAAP net loss guidance of between $1.03 billion and $1.09 billion [19] Clinical Development Updates - The RASolute 302 trial for daraxonrasib in previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) is nearing completion of enrollment, with data readout expected in 2026 [3][7] - The FDA granted daraxonrasib Orphan Drug Designation and Breakthrough Therapy Designation, supporting its expedited review [4] - The company is set to initiate RASolute 303, a Phase 3 trial for daraxonrasib in first-line metastatic PDAC, and RASolute 304, evaluating daraxonrasib as adjuvant treatment for resectable PDAC [5][6] - New data for elironrasib presented at a recent symposium showed promising response rates in patients with RAS G12C NSCLC [8] - Zoldonrasib is being evaluated in combination regimens and is expected to enter registrational trials in the first half of 2026 [10][11] Corporate Developments - Recent leadership appointments aim to enhance global development and commercialization capabilities [14] - The company is advancing its pipeline with next-generation RAS(ON) inhibitors, including RMC-5127, which is on track for a Phase 1 trial initiation in Q1 2026 [12]

Financial Position - Cash, cash equivalents, and marketable securities totaled $1.93 billion as of September 30, 2025, including a $250 million royalty monetization tranche received in June 2025[17] - Cash, cash equivalents, and marketable securities decreased to $1,931,508 from $2,289,299[32] - Working capital declined to $1,731,867 compared to $2,163,718[32] - Total assets decreased to $2,251,920 from $2,558,301[32] - Total liabilities increased significantly to $655,016 from $293,097[32] - Total stockholders' equity decreased to $1,596,904 from $2,265,204[32] Expenses - Research and development expenses increased to $262.5 million for Q3 2025, up from $151.8 million in Q3 2024, primarily due to clinical trial and manufacturing expenses[18] - General and administrative expenses rose to $52.8 million for Q3 2025, compared to $24.0 million in Q3 2024, driven by personnel-related expenses and increased legal costs[19] Net Loss - Net loss for Q3 2025 was $305.2 million, compared to a net loss of $156.3 million in Q3 2024[21] - The company reiterates its 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 $115 million to $130 million[22] Clinical Trials - The RASolute 302 trial for daraxonrasib in previously treated metastatic pancreatic ductal adenocarcinoma is nearing completion of global enrollment, with data readout expected in 2026[4] - The company initiated RASolute 304, a Phase 3 trial of daraxonrasib as adjuvant treatment for resectable pancreatic ductal adenocarcinoma, focusing on disease-free survival as the primary endpoint[8] - New clinical results support the initiation of RASolute 303, a global Phase 3 trial of daraxonrasib in first-line metastatic pancreatic ductal adenocarcinoma, expected to start this year[7] - The company plans to initiate a registrational trial in 2026 for daraxonrasib in first-line metastatic RAS mutant non-small cell lung cancer in combination with pembrolizumab and chemotherapy[9] - The company anticipates initiating a registrational trial for zoldonrasib in combination with standard chemotherapy in first-line metastatic pancreatic ductal adenocarcinoma in the first half of 2026[12]

Core Insights - Revolution Medicines, Inc. is a late-stage clinical oncology company focused on developing targeted therapies for RAS-addicted cancers [2] - The company is actively participating in investor conferences to engage with stakeholders and provide updates on its developments [1][3] Company Overview - Revolution Medicines specializes in RAS(ON) inhibitors aimed at suppressing various oncogenic variants of RAS proteins [2] - The current R&D pipeline includes daraxonrasib (RMC-6236), elironrasib (RMC-6291), and zoldonrasib (RMC-9805), all of which are in clinical development [2] - The company plans to advance RMC-5127, a RAS(ON) G12V-selective inhibitor, into clinical development next [2] - Additional pipeline opportunities include RAS(ON) mutant-selective inhibitors such as RMC-0708 (Q61H) and RMC-8839 (G13C) [2] Upcoming Events - The company will participate in the Guggenheim 2 Annual Healthcare Innovation Conference on November 11 at 9:00 a.m. ET [3] - Additionally, it will be present at the Jefferies Global Healthcare Conference on November 18 at 9:30 a.m. GMT [3]

Core Insights - Revolution Medicines, Inc. is set to report its financial results for Q3 2025 on November 5, 2025, after market close [1] - A webcast will be hosted by the senior management team at 4:30 p.m. ET to discuss the financial results and corporate progress [1] Company Overview - Revolution Medicines is a late-stage clinical oncology company focused on developing targeted therapies for RAS-addicted cancers [3] - The company's R&D pipeline includes RAS(ON) inhibitors such as daraxonrasib (RMC-6236), elironrasib (RMC-6291), and zoldonrasib (RMC-9805), which are currently in clinical development [3] - The company plans to advance RMC-5127, a RAS(ON) G12V-selective inhibitor, into clinical development next [3] - Additional pipeline opportunities include RAS(ON) mutant-selective inhibitors like RMC-0708 (Q61H) and RMC-8839 (G13C) [3]

Core Insights - Revolution Medicines, Inc. has received Orphan Drug Designation from the FDA for daraxonrasib, a multi-selective inhibitor targeting RAS mutations in pancreatic cancer, addressing a significant unmet medical need [1][2][3] Company Overview - Revolution Medicines is focused on developing targeted therapies for RAS-addicted cancers, with a pipeline that includes multiple RAS(ON) inhibitors currently in clinical development [7] - The company's lead candidate, daraxonrasib (RMC-6236), is an oral inhibitor designed to suppress RAS signaling by targeting common oncogenic RAS mutations [6][7] Clinical Development - Daraxonrasib is currently being evaluated in a global Phase 3 clinical trial, RASolute 302, for patients with second-line metastatic pancreatic ductal adenocarcinoma (PDAC) [2] - The company plans to initiate two additional Phase 3 trials: one for first-line treatment in metastatic PDAC patients and another for adjuvant treatment in resectable PDAC patients [2] Industry Context - Pancreatic cancer is characterized by late-stage diagnosis and high mortality, with approximately 60,000 new cases and 50,000 deaths annually in the U.S. [4] - The disease is predominantly driven by RAS mutations, with over 90% of PDAC patients harboring these mutations, highlighting the critical need for innovative therapies [5]

Core Insights - Revolution Medicines, Inc. announced updated clinical data for elironrasib, a RAS(ON) G12C-selective inhibitor, in previously treated patients with KRAS G12C non-small cell lung cancer (NSCLC) [1][2] Company Overview - Revolution Medicines is a late-stage clinical oncology company focused on developing targeted therapies for RAS-addicted cancers [9] - The company's R&D pipeline includes RAS(ON) inhibitors designed to suppress various oncogenic variants of RAS proteins, including daraxonrasib, elironrasib, and zoldonrasib [9] Clinical Data Highlights - As of August 4, 2025, elironrasib was administered to 24 heavily pretreated patients with KRAS G12C NSCLC, showing a confirmed objective response rate of 42% and a disease control rate of 79% [2][4] - The median duration of response was 11.2 months, with a median progression-free survival of 6.2 months, and a 12-month overall survival rate of 62% [2][4] Treatment Context - NSCLC accounts for 80%-85% of all lung cancers, with KRAS mutations present in nearly 30% of NSCLC cases, making KRAS G12C the most common variant [5][7] - Elironrasib has received Breakthrough Therapy Designation for treating adult patients with KRAS G12C-mutated locally advanced or metastatic NSCLC who have received prior chemotherapy and immunotherapy [4] Upcoming Presentations - The AACR-NCI-EORTC Symposium will feature oral presentations highlighting the clinical activity of elironrasib and encouraging preclinical data supporting the RAS(ON) inhibitor platform [2][6]

Revolution Medicines (NASDAQ: RVMD ) is a company I've expressed significant optimism about , even if that optimism did not ascend to an unqualified "Buy" sentiment. I dd not expect things to move quiteI have my PhD in biochemistry and have worked for years analyzing clinical trials and biotech companies. It is my passion to educate everyone possible on the science behind the businesses that we invest in, and it's my mission to help you do your due diligence and not get burned by the pitfalls of investing i ...

Company Overview - Revolution Medicines, Inc. (NASDAQ:RVMD) is a clinical-stage oncology company focused on developing targeted therapies for RAS-driven cancers [2] - RAS refers to a family of genes that produce proteins that control cell growth and division [2] Recent Developments - On October 17, Raymond James increased its price target for RVMD from $72 to $76 and maintained a Strong Buy rating [2] - The firm's analysis highlighted that RVMD's daraxonrasib has been accepted into the FDA Commissioner's National Priority Review, which is expected to expedite its market entry for second-line RAS-mutant pancreatic cancer [2] Market Sentiment - Jim Cramer described RVMD as a speculative situation in the oncology sector, expressing a personal connection to the fight against cancer and a general support for speculative stocks aiming to cure cancer [1]