REVOLUTION MEDICINES, INC.
RVMD evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for RVMD—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · RVMD
Revolution Medicines, Inc. is a clinical-stage biopharmaceutical company developing targeted therapies for RAS-mutant cancers, with its lead candidate daraxonrasib (RMC-6236) in Phase 3 trials for pancreatic ductal adenocarcinoma (PDAC) and other solid tumors.
Key risk: Clinical trial failure risk
BioSniper Score
Based on 6 of 6 signals
Market Cap
$44.56B
Cash Runway
29.5 moLead Asset
daraxonrasib (Phase 3)Next Catalyst
Phase3_Topline · Dec 1, 2027Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 17 clinical trials · 6 catalysts for REVOLUTION MEDICINES, INC..
Revolution Medicines, Inc. is a clinical-stage biopharmaceutical company developing targeted therapies for RAS-mutant cancers, with its lead candidate daraxonrasib (RMC-6236) in Phase 3 trials for pancreatic ductal adenocarcinoma (PDAC) and other solid tumors.
- Lead candidate daraxonrasib (RMC-6236) is in multiple Phase 3 trials for RAS-mutant cancers, including RASolute 302, 303, 304, 305, and RASolve 301 [sec_mda · as of 2026-02-25].
- Cash, cash equivalents, and marketable securities were $2.0 billion as of December 31, 2025 [sec_mda · as of 2026-02-25]; latest reported financials (as of 2026-06-30) show cash & equivalents of $820.3M and shareholders' equity of $1,865.4M [sec].
- Accumulated deficit was $2.9 billion as of December 31, 2025 [sec_mda · as of 2026-02-25]; net loss for the latest reported period (as of 2026-06-30) was -$644.4M [sec].
- The company has raised $2.1 billion in underwritten public offerings and $599.9 million in gross proceeds from at-the-market equity offerings through December 31, 2025 [sec_mda · as of 2026-02-25].
- A Royalty Purchase Agreement in June 2025 provided $250.0 million in gross proceeds, with potential additional capital subject to commercial milestones [sec_mda · as of 2026-02-25].
What works
- Daraxonrasib is being evaluated in multiple Phase 3 trials across RAS-mutant cancers, indicating a broad development strategy [sec_mda · as of 2026-02-25].
- The company had $2.0 billion in cash and marketable securities as of December 31, 2025, providing substantial funding for ongoing trials [sec_mda · as of 2026-02-25].
- Preliminary data from the RMC-6236-001 Study support continued development of daraxonrasib in RAS-mutant PDAC [sec · filed 2025-09-10].
What to weigh
- The company has an accumulated deficit of $2.9 billion as of December 31, 2025, reflecting significant historical losses [sec_mda · as of 2026-02-25].
- The Sanofi Agreement was terminated in June 2023, eliminating a source of reimbursement for R&D costs [sec_mda · as of 2026-02-25].
- Clinical development is subject to risks including trial design, regulatory approval, and competition, with many programs still in preclinical stages [sec_mda · as of 2026-02-25].
From the filings
Quoted directly from source documents.
Daraxonrasib is in multiple Phase 3 trials for RAS-mutant cancers.
“We are evaluating certain of our product candidates in both exploratory and pivotal clinical trials, both as monotherapy and in combination regimens, including the RASolute 302, RASolute 303, RASolute 304, RASolute 305, and RASolve 301.”
SEC MD&A · February 25, 2026
Cash position as of December 31, 2025.
“As of December 31, 2025, we had cash, cash equivalents and marketable securities of $2.0 billion.”
SEC MD&A · February 25, 2026
Accumulated deficit as of December 31, 2025.
“As of December 31, 2025, we had an accumulated deficit of $2.9 billion.”
SEC MD&A · February 25, 2026
Preliminary data support continued development of daraxonrasib.
“preliminary data observations from the RMC-6236-001 Study support the continued development of daraxonrasib in patients with RAS-mutant PDAC”
SEC filings · September 10, 2025
Catalyst timeline
- 2027-12-01 · Phase3_Topline · daraxonrasib — RASolute 302 — Topline results from a Phase 3 multicenter, open-label, randomized study of daraxonrasib versus comparator in RAS-mutant cancers.
- 2029-03-01 · Phase3_Topline · daraxonrasib — RASolute 303 — Topline results from a Phase 3 global, multicenter, open-label, randomized, 3-arm study of daraxonrasib monotherapy.
- 2030-04-22 · Phase3_Topline — RASolute 305 — Topline results from a Phase 3 randomized, double-blind, placebo-controlled study of investigator choice plus daraxonrasib.
- 2030-07-10 · Phase3_Topline — RASolute 304 — Topline results from a Phase 3 multicenter, open-label, randomized, 2-arm study of adjuvant daraxonrasib versus comparator.
- 2030-12-01 · Phase3_Topline · rmc-6236 — RASolve 301 — Topline results from a Phase 3 multicenter, open-label, randomized study of RMC-6236 versus docetaxel in patients.
- 2031-02-01 · Phase3_Topline · pembrolizumab — Topline results from a randomized, double-blind, Phase 3 study of pembrolizumab plus pemetrexed and platinum chemotherapy with daraxonrasib.
Risks & what to watch (4)›
Key risks
- Clinical trial failure risk — Results of prior trials may not predict future outcomes; trials may fail to show efficacy or safety [sec · filed 2025-09-10].
- Regulatory approval uncertainty — FDA and other agencies may require additional trials or deny approval; timelines are uncertain [sec_mda · as of 2026-02-25].
- Financial sustainability — Accumulated deficit of $2.9B and ongoing losses; future funding depends on milestones and capital markets [sec_mda · as of 2026-02-25].
- Competitive landscape — Competing products or consolidation among competitors could impact market position [sec_mda · as of 2026-02-25].
What to watch
- Phase 3 topline results for daraxonrasib in RASolute 302 (expected 2027-12-01) [catalyst].
- Phase 3 topline results for daraxonrasib in RASolute 303 (expected 2029-03-01) [catalyst].
- Phase 3 topline results for daraxonrasib in RASolute 305 (expected 2030-04-22) [catalyst].
- Phase 3 topline results for daraxonrasib in RASolute 304 (expected 2030-07-10) [catalyst].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
29.5 months
D/E 0.66 · 0% dilution
Lead: Phase 3
3 candidates
6 upcoming, next in ~458d
0 buys · 71 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
516
Total value held
$20.02B
| Holder | Shares | Value |
|---|---|---|
| janus henderson group plc | 19,532,992 | $1.90B |
| vanguard capital management llc | 16,724,568 | $1.63B |
| farallon capital management llc | 13,604,796 | $1.32B |
| blackrock, inc. | 11,212,706 | $1.09B |
| baker bros. advisors lp | 9,555,357 | $929.3M |
| fmr llc | 8,464,314 | $823.2M |
| vanguard portfolio management llc | 7,502,623 | $729.6M |
| wellington management group llp | 6,027,819 | $586.2M |
| adage capital partners gp, l.l.c. | 5,475,611 | $532.5M |
| woodline partners lp | 5,013,140 | $487.5M |
Showing top 10 of 516 institutional holders of REVOLUTION MEDICINES, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 24, 2026- % of float
- 8.2%
- Days to cover
- 8.0
- Shares short
- 15,409,530
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
RVMD short interestGovernance
Frequently asked questions
What is the AI investment thesis for REVOLUTION MEDICINES, INC.?
Revolution Medicines, Inc. is a clinical-stage biopharmaceutical company developing targeted therapies for RAS-mutant cancers, with its lead candidate daraxonrasib (RMC-6236) in Phase 3 trials for pancreatic ductal adenocarcinoma (PDAC) and other solid tumors.
What is REVOLUTION MEDICINES, INC.'s lead drug candidate?
REVOLUTION MEDICINES, INC.'s most advanced tracked candidate is daraxonrasib (Phase 3) for Non-small Cell Lung Cancer (NSCLC); PDAC; NSCLC (Non-small Cell Lung Cancer).
What is REVOLUTION MEDICINES, INC.'s next catalyst?
REVOLUTION MEDICINES, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: RASolute 302: A Phase 3 Multicenter, Open-label, Randomized Study of Daraxonrasib (RMC-6236) Versus " — expected December 1, 2027.
Who is the CEO of REVOLUTION MEDICINES, INC.?
Dr. Mark A. Goldsmith M.D., Ph.D. is the chief executive officer of REVOLUTION MEDICINES, INC. (RVMD).
Where is REVOLUTION MEDICINES, INC. headquartered?
REVOLUTION MEDICINES, INC. (RVMD) is headquartered in Redwood City, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.