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Revolution Medicines Reports First Quarter 2023 Financial Results and Update on Corporate Progress
First Wave of Investigational RAS(ON) Inhibitors – RMC-6236 (RASMULTI), RMC-6291 (KRASG12C) and RMC-9805 (KRASG12D) – progressing on plan Appointment of chief
About this update from Revolution Medicines, Inc.
[{"type":"text","content":"First Wave of Investigational RAS(ON) Inhibitors – RMC-6236 (RASMULTI), RMC-6291 (KRASG12C) and RMC-9805 (KRASG12D) – progressing on plan Appointment of chief medical officer and key leaders across late-stage development and commercial planning $909.8 million in cash, cash equivalents and investments at the end of first quarter 2023 Conference call and webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif., May 08, 2023 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced its financial results for the quarter ended March 31, 2023, and provided an update on corporate progress. “Revolution Medicines is off to a strong start in 2023 by reporting encouraging preliminary findings of antitumor activity and safety/tolerability in our Phase 1/1b study of RMC-6236, a first-in-class RASMULTI(ON) inhibitor,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “The promising early clinical data we shared in our February earnings update serve as important initial validation of the drug candidate’s novel mechanism of action and potential clinical utility for treating a range of RAS-addicted cancers. We also view these data as platform validation with positive implications across our deep and pioneering portfolio of RAS(ON) Inhibitors. “Our successful public equity offering in March raised gross proceeds of $345 million, reinforcing our financial position and enabling us to consider additional near-term and longer-term investments to strengthen clinical advancement of our first wave of RAS(ON) Inhibitors. We are continuing dose-escalation of RMC-6236 and RMC-6291 and working to bring RMC-9805 into the clinic. We are also laying the groundwork for advanced development of RMC-6236 by strengthening senior leadership across late-stage development, manufacturing, and commercial planning and expanding clinical supply to enable seamless program progression.” Clinical and Development Highlights RAS(ON) Inhibitors RMC-6236 (RASMULTI)RMC-6236 is an oral, selective, first-in-class RAS(ON) Inhibitor designed to treat patients with cancers driven by a wide range of common RAS mutations. Initially being evaluated as monotherapy, it may also be deployed as a RAS Companion Inhibitor in combina...