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Revolution Medicines(RVMD) - 2024 Q1 - Quarterly Results
2024-05-08 20:05
Exhibit 99.1 Revolution Medicines Reports First Quarter 2024 Financial Results and Update on Corporate Progress Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif., May 8, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced its financial results for the quarter ended March 31, 2024, and provided an update on corporate progress. The comp ...
Revolution Medicines(RVMD) - 2023 Q4 - Earnings Call Transcript
2024-02-27 03:45
Revolution Medicines, Inc. (NASDAQ:RVMD) Q4 2023 Earnings Conference Call February 26, 2024 4:30 PM ET Company Participants Erin Graves - Senior Director, Corporate Communications and Investor Relations Mark Goldsmith - Chairman and Chief Executive Officer Jack Anders - Chief Financial Officer Wei Lin - Chief Medical Officer Conference Call Participants Ernie Rodriguez - TD Cowen Michael Smith - Guggenheim Partners Eric Joseph - JP Morgan Jonathan Chang - Leerink Partners Ellie Merle - UBS Ami Fadia - Needh ...
Revolution Medicines(RVMD) - 2023 Q4 - Annual Report
2024-02-26 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 For the fiscal year ended December 31, 2023 OR FORM 10-K (Mark One) Revolution Medicines, Inc. (Exact name of Registrant as specified in its Charter) | Delaware | 47-2029180 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 700 Saginaw Drive | | | Redwood City, CA | 94063 ...
Revolution Medicines(RVMD) - 2023 Q3 - Earnings Call Presentation
2023-11-07 01:05
November 6, 2023 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 establish new strategic collaborations, licensing or other arrangements, the scope, ...
Revolution Medicines(RVMD) - 2023 Q3 - Earnings Call Transcript
2023-11-07 01:04
Revolution Medicines, Inc. (NASDAQ:RVMD) Q3 2023 Earnings Conference Call November 6, 2023 4:30 PM ET Company Participants Erin Graves - Senior Director of Corporate Communications and IR Mark Goldsmith - Chairman and CEO Jack Anders - CFO Steve Kelsey - President of Research & Development Conference Call Participants Marc Frahm - TD Cowen Eric Joseph - JPMorgan Jonathan Chang - Leerink Partners Ami Fadia - Needham Alec Stranahan - Bank of America Operator Good day, and thank you for standing by. Welcome to ...
Revolution Medicines(RVMD) - 2023 Q3 - Quarterly Report
2023-11-06 21:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-39219 Revolution Medicines, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2029180 (State or ...
Revolution Medicines(RVMD) - 2023 Q2 - Earnings Call Transcript
2023-08-09 03:05
Financial Data and Key Metrics Changes - The company ended Q2 2023 with $909.5 million in cash, cash equivalents, and investments [8] - Total revenue for Q2 2023 was $3.8 million, primarily from a terminated collaboration agreement with Sanofi [8] - Total operating expenses for Q2 2023 were $112.6 million, driven by clinical trial and manufacturing expenses for RMC-6236 and RMC-6291 [17] - The net loss for Q2 2023 was $98.3 million, or $0.92 per share, with a full-year GAAP net loss guidance of $360 million to $400 million [18][19] Business Line Data and Key Metrics Changes - The company is focusing on the development of RAS(ON) inhibitors, specifically RMC-6236 and RMC-6291, with significant updates expected in the fall [21][72] - The acquisition of EQRx aims to strengthen the company's cash position and support the development of its RAS(ON) inhibitor pipeline [4][5] Market Data and Key Metrics Changes - The company is preparing for clinical updates on RMC-6236 and RMC-6291, with presentations scheduled for the ESMO Congress and the Triple Meeting in October [71][72] - The company is evaluating the potential of RMC-5552 as a RAS Companion Inhibitor in combination with RAS(ON) inhibitors [3][72] Company Strategy and Development Direction - The company is committed to a parallel development approach for its RAS(ON) inhibitor pipeline, aiming to maximize patient benefits quickly [57] - The acquisition of EQRx is intended to provide the financial depth necessary for pursuing multiple late-stage development paths [57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming clinical updates and the potential for significant advancements in the second half of the year [6][21] - The company is focused on providing hope to patients with RAS-addicted cancers through its innovative drug development efforts [22] Other Important Information - The company plans to initiate pivotal clinical trials for RMC-6236 potentially in 2024, based on encouraging data trends [71][72] - The company is also advancing its oral mutant selective KRAS G12D inhibitor, RMC-9805, with site activation underway [73] Q&A Session Summary Question: Financial guidance and R&D expenses trajectory - The CFO indicated that the second half of the year will see a step-up in R&D expenses compared to the first half, with no guidance provided for 2024 yet [26][27] Question: Single agent path forward for RMC-6236 - Management stated that clinical updates will be provided in the fall, with more visibility expected based on actual data [29] Question: Dose selection for RMC-6236 - The selection of the optimal dose is ongoing, with management committed to ensuring efficacy and tolerability [33][39] Question: Current standard of care for lung and pancreatic cancer - Management discussed the complexities of current treatment options and the need for RMC-6236 to outperform existing therapies [48][50] Question: Pivotal studies for RMC-6236 - Management confirmed a commitment to a parallel approach for late-stage development, depending on data outcomes [57] Question: Update on RMC-5552 - The focus remains on dose optimization for RMC-5552 as a potential RAS Companion Inhibitor, with no immediate plans for single-agent development [60] Question: Plans for assessing different dosing schedules - Management clarified that daily dosing is currently effective, with no immediate plans to explore alternative schedules [62]
Revolution Medicines(RVMD) - 2023 Q2 - Quarterly Report
2023-08-08 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-39219 Revolution Medicines, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2029180 (State or othe ...
Revolution Medicines(RVMD) - 2023 Q1 - Earnings Call Transcript
2023-05-09 03:17
Financial Data and Key Metrics Changes - The company reported a net loss of $68.1 million for Q1 2023, equating to $0.72 per share, with an updated full-year GAAP net loss guidance of $360 million to $400 million, reflecting increased investments in clinical advancements [38][22][23] - Revenue from collaboration with Sanofi was $7.0 million in Q1 2023, while total operating expenses increased by 25% year-over-year to $82.2 million, primarily due to R&D expenses [23][22] Business Line Data and Key Metrics Changes - The company is advancing its first-in-class RASMULTI(ON) inhibitor, RMC-6236, with ongoing dose escalation studies showing encouraging antitumor activity and tolerability [5][8] - RMC-9805, a mutant selective oral and covalent KRAS G12D(ON) inhibitor, is on track for clinical evaluation in mid-2023, completing the first wave of RAS(ON) inhibitors under clinical evaluation [9] Market Data and Key Metrics Changes - The company raised $345 million in a public equity offering in March 2023, enhancing its financial position to support clinical development and organizational growth [7][22] - The estimated annual incidence of KRAS G12D cancers in the U.S. is around 55,000 cases, indicating a substantial patient population for ongoing studies [55] Company Strategy and Development Direction - The company aims to expand its clinical development capabilities and is focused on combination studies for RMC-6291, indicating a strategic shift towards combination therapies rather than monotherapy [49][34] - The management emphasized the importance of addressing unmet medical needs, particularly in brain metastases, as part of their long-term strategy [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the clinical progress and pipeline, with plans for multiple updates throughout the year, particularly in Q3 [17][24] - The management acknowledged the competitive landscape, noting that standard of care remains the primary competition for many indications, while also recognizing emerging compounds in the clinic [99] Other Important Information - The company has made significant leadership additions, including a new Chief Medical Officer, to enhance its R&D capabilities [21] - The company plans to provide further updates on its clinical programs and organizational progress in the second half of the year [24][17] Q&A Session All Questions and Answers Question: Context for patient numbers and mutation focus - The company is currently focused on KRAS G12D patients due to epidemiology but is seeing additional genotypes and histologies in the study [41] Question: Growth in expenses and priority trials - The management indicated that the increase in expenses is linked to priority trials, including monotherapy expansion and combination studies [42] Question: Tolerability at 160 mg and dose escalation - The management confirmed that the tolerability profile of RMC-6236 remains favorable, allowing for continued dose escalation [44] Question: CNS activity and translatability to human subjects - The management noted that the impact of CNS metastases will depend on the patient population and the ability to control visceral disease effectively [51] Question: Combination partners for RMC-6236 - The management stated that all potential combination partners are currently open, with a focus on those that do not overlap in mechanism [52] Question: Feedback from physicians following AACR - The management reported positive feedback from investigators, highlighting the well-tolerated and active nature of RMC-6236 [90]
Revolution Medicines(RVMD) - 2023 Q1 - Quarterly Report
2023-05-08 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-39219 Revolution Medicines, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2029180 (State or oth ...