Business
Revolution Medicines Reports Third Quarter 2022 Financial Results and Update on Corporate Progress
Dose escalation ongoing in Phase 1/1b trials evaluating two RAS(ON) Inhibitor drug candidates, RMC-6236 (RASMULTI inhibitor) and RMC-6291 (KRASG12C inhibitor)
About this update from Revolution Medicines, Inc.
[{"type":"text","content":"Dose escalation ongoing in Phase 1/1b trials evaluating two RAS(ON) Inhibitor drug candidates, RMC-6236 (RASMULTI inhibitor) and RMC-6291 (KRASG12C inhibitor) Completed successful equity financing to support advancement of pipeline Webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif., Nov. 07, 2022 (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 September 30, 2022, and provided an update on corporate progress. “The company continues advancing its portfolio of groundbreaking RAS(ON) Inhibitors aimed at tumors caused by altered RAS proteins, the most frequent genetic drivers of human cancer,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “In June, we initiated a Phase 1/1b trial evaluating RMC-6236 as monotherapy in patients with advanced solid tumors driven by various of the most common RAS mutations. Our team also initiated a Phase 1/1b trial evaluating RMC-6291, our first mutant-selective RAS(ON) Inhibitor, as monotherapy in patients with advanced solid tumors harboring the KRASG12C mutation in particular. We also continue advancing RMC-9805, a RAS(ON) Inhibitor candidate designed to target cancers driven by the KRASG12D mutation. We believe that these remarkable product candidates offer great potential for serving significant unmet medical needs. “In addition, preliminary data disclosed by Amgen show the therapeutic combination of RMC-4630 and sotorasib is safe and tolerable and offered encouraging initial evidence of promising and durable clinical activity in patients with non-small cell lung cancer (NSCLC) bearing a KRASG12C mutation. Revolution Medicines is sponsoring an ongoing Phase 2 study evaluating the RMC-4630 and sotorasib combination that is intended to test further the potential for additive clinic benefit. We look forward to the results from this study and from the ongoing Phase 1/1b study of RMC-5552, our mTORC1/4EPB1 inhibitor, as we evaluate these important RAS Companion Inhibitors. “Finally, in July 2022, we completed a public equity financing raising gross proceeds of approximately $265 million that strengthened our overall financial position to support the continued expansion and advanc...