Revolution Medicines(RVMD)

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Revolution Medicines(RVMD) - 2024 Q3 - Earnings Call Transcript
2024-11-07 00:52
Financial Data and Key Metrics Changes - The company ended Q3 2024 with $1.55 billion in cash and investments, projected to fund operations into 2027 [19] - R&D expenses for Q3 2024 were $151.8 million, up from $107.7 million in Q3 2023, primarily due to increased clinical trial expenses and personnel costs [20] - G&A expenses for Q3 2024 were $24.0 million, compared to $15.5 million in Q3 2023, driven by personnel costs and commercial preparation activities [21] - The net loss for Q3 2024 was $156.3 million, compared to $108.4 million in Q3 2023, attributed to higher operating expenses [21] - The company reiterated its 2024 financial guidance, expecting a full-year GAAP net loss between $560 million and $600 million [22] Business Line Data and Key Metrics Changes - The company is focused on three RAS(ON) inhibitors: RMC-6236, RMC-6291, and RMC-9805, with significant progress reported in clinical trials [6][7] - RMC-6236 showed a median progression-free survival (PFS) of 8.5 months and overall survival (OS) of 14.5 months in previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) patients [13] - RMC-9805 demonstrated a 30% objective response rate and an 80% disease control rate in patients treated with 1,200 milligrams daily [16] Market Data and Key Metrics Changes - The company is advancing its pipeline in high unmet need cancers, particularly pancreatic cancer and non-small cell lung cancer [29] - The company anticipates upcoming disclosures for RMC-6236 and RMC-6291 in non-small cell lung cancer, with plans to initiate a Phase 3 study in early 2025 [18][19] Company Strategy and Development Direction - The company aims to revolutionize treatment for RAS-addicted cancers through innovative targeted medicines [5] - The strategic development priorities for 2024 include advancing RMC-6236 into pivotal trials and expanding its use into earlier lines of therapy [6][7] - The company is exploring new combinations for RMC-6236 and RMC-9805 to inform future pivotal studies [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of RMC-6236 to become a new standard of care in PDAC if current results are replicated in ongoing studies [23] - The initial data for RMC-9805 is encouraging, with management recognizing the need for further data maturation to clarify optimal development strategies [24] - The company remains well-capitalized to advance its pipeline and is committed to improving outcomes for patients with RAS-addicted cancers [29] Other Important Information - The company has achieved proof-of-concept for three distinct oral inhibitors targeting the RAS(ON) protein state, marking a significant milestone [25] - The company is actively collaborating with Tango Therapeutics to evaluate combinations of RMC-6236 and RMC-9805 with their PRMT5 inhibitor [45] Q&A Session Summary Question: What should be looked for in the combination data sets? - Management highlighted the focus on safety signals, particularly hepatotoxicity, in the pembrolizumab studies, while looking for qualitative evidence of efficacy in the RAS(ON) inhibitor doublet study [32] Question: Can you remind us of the patient background in the RAS(ON) inhibitor doublet combination study? - The study includes patients with KRAS-G12C bearing tumors across various solid tumor types and treatment backgrounds [38] Question: What are the items needed for FDA alignment before the Phase 3 lung cancer study? - Management indicated that the timing for the Phase 3 lung cancer trial was pushed out due to the need for regulatory alignment on study details [41] Question: Can you provide details on the clinical collaboration with Tango Therapeutics? - Management stated that they cannot provide further details beyond what Tango reported, but they are excited about the collaboration [45] Question: What is the strategy for moving forward with novel combinations? - Management expects to pursue multiple collaboration opportunities for RMC-6236, prioritizing studies that combine it with other RAS(ON) inhibitors and standard therapies [51] Question: What is the cash runway guidance based on? - The cash runway guidance includes costs for two Phase 3 second-line studies and uses a probability-adjusted model for additional programs [59] Question: Are there plans for triplet combinations involving RMC-6236? - Management confirmed that they are exploring combinations of RMC-6236 with pembrolizumab and chemotherapy, with plans to initiate these studies sequentially [62] Question: How does the company view the potential for first-line PDAC studies? - Management indicated that they will move into first-line studies as soon as the regimen is optimized, believing that the second-line data supports this approach [73]
Revolution Medicines(RVMD) - 2024 Q3 - Quarterly Results
2024-11-06 21:05
Exhibit 99.1 Revolution Medicines Reports Third Quarter 2024 Financial Results and Update on Corporate Progress Phase 3 pivotal trial underway evaluating RMC-6236 in patients with metastatic pancreatic ductal adenocarcinoma (PDAC), supported by compelling clinical profile First clinical results for RMC-9805, a RAS(ON) G12D-selective inhibitor, demonstrate encouraging safety, tolerability and antitumor activity in patients with PDAC harboring a KRAS G12D mutation Company on track to provide update on lung ca ...
Revolution Medicines Reports Third Quarter 2024 Financial Results and Update on Corporate Progress
GlobeNewswire News Room· 2024-11-06 21:02
Phase 3 pivotal trial underway evaluating RMC-6236 in patients with metastatic pancreatic ductal adenocarcinoma (PDAC), supported by compelling clinical profile First clinical results for RMC-9805, a RAS(ON) G12D-selective inhibitor, demonstrate encouraging safety, tolerability and antitumor activity in patients with PDAC harboring a KRAS G12D mutation Company on track to provide update on lung cancer programs in the fourth quarter of 2024 Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time ...
Revolution Medicines to Participate in Upcoming Investor Conferences
GlobeNewswire News Room· 2024-11-05 14:00
REDWOOD CITY, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., the company’s chief executive officer and chairman, will be a featured speaker at Guggenheim's Inaugural Healthcare Innovation Conference and the UBS Global Healthcare Conference. Details of the company’s participation are as follows: Guggenheim's Inaugural Healthcare I ...
Revolution Medicines Presents Initial Data from RMC-9805 Monotherapy Study in Patients with Advanced Pancreatic Ductal Adenocarcinoma
GlobeNewswire News Room· 2024-10-25 08:15
First clinical results for RMC-9805, a RAS(ON) G12D-selective inhibitor, demonstrate encouraging tolerability and antitumor activity in patients with PDAC Investor webcast to be held Friday, October 25 at 12:00 p.m. Eastern Time (ET) REDWOOD CITY, Calif., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced preliminary safety and antitumor data for RMC-9805, its RAS(ON) G12D-sele ...
Revolution Medicines Presents Updated Data from RMC-6236 Monotherapy Study in Patients with Advanced Pancreatic Ductal Adenocarcinoma
GlobeNewswire News Room· 2024-10-23 10:00
Encouraging progression-free survival and overall survival profile Safety findings consistent with previously reported data, no new safety signals observed Investor webcast to be held Friday, October 25 at 12:00 p.m. Eastern Time (ET) REDWOOD CITY, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced encouraging antitumor activity and safety/tolerability data for RMC-6236 ...
Revolution Medicines Announces First Patient Dosed in Phase 3 Study Evaluating RMC-6236 in Previously Treated Patients with Metastatic Pancreatic Ductal Adenocarcinoma
GlobeNewswire News Room· 2024-10-21 20:05
Core Insights - Revolution Medicines has initiated dosing for the first patient in the Phase 3 RASolute 302 study, evaluating RMC-6236 for metastatic pancreatic ductal adenocarcinoma (PDAC) [1][3] Company Overview - Revolution Medicines is a clinical-stage oncology company focused on developing targeted therapies for RAS-addicted cancers, with a pipeline that includes RMC-6236, RMC-6291, and RMC-9805 [6] Study Design and Objectives - RASolute 302 is a global, randomized, open-label Phase 3 study aimed at assessing the safety and efficacy of RMC-6236 monotherapy compared to standard chemotherapy in approximately 460 patients with previously treated metastatic pancreatic cancer [2] - The study targets a core population with RAS mutations at position 12 and an expanded population including various RAS mutations and those without identified targetable mutations [2] Cancer Context - Pancreatic cancer, particularly PDAC, is one of the most lethal cancers, with an estimated 60,000 diagnoses and 50,000 deaths in the U.S. in 2024 [3][4] - PDAC accounts for about 92% of pancreatic cancer cases, with over 90% of patients harboring RAS mutations, leading to a five-year survival rate of approximately 3% [4] Drug Mechanism - RMC-6236 is an oral, direct RAS(ON) multi-selective inhibitor designed to block RAS signaling by inhibiting its interaction with downstream effectors, targeting various oncogenic RAS mutations [5]
Revolution Medicines Reports Second Quarter 2024 Financial Results and Update on Corporate Progress
Newsfilter· 2024-08-07 20:05
REDWOOD CITY, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company developing targeted therapies for patients with RASaddicted cancers, today announced its financial results for the quarter ended June 30, 2024, and provided an update on corporate progress. The company continues making progress on its 2024 development priorities: Advancing its RAS(ON) multi-selective inhibitor RMC-6236 into monotherapy pivotal trials. Pancreatic cancer: The com ...
Revolution Medicines to Report Financial Results for Second Quarter 2024 After Market Close on August 7, 2024
Newsfilter· 2024-07-31 20:05
REDWOOD CITY, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that it will report financial results for the second quarter 2024 on Wednesday, August 7, 2024, after market close. At 4:30 p.m. Eastern Time that day (1:30 p.m. Pacific Time), Revolution Medicines' senior management team will host a webcast to discuss the financial results for the quarter an ...
Revolution Medicines to Report Financial Results for Second Quarter 2024 After Market Close on August 7, 2024
GlobeNewswire News Room· 2024-07-31 20:05
REDWOOD CITY, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that it will report financial results for the second quarter 2024 on Wednesday, August 7, 2024, after market close. At 4:30 p.m. Eastern Time that day (1:30 p.m. Pacific Time), Revolution Medicines' senior management team will host a webcast to discuss the financial results for the quarter an ...