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Royalty Pharma 8-K Report, Regulation FD Disclosure (Apr 13, 2026)

Reports
Regulation FD
Filing Date
Filed April 13, 2026
Period End
April 13, 2026
Security
RPRX
In the record · 2020–202610-K610-Q208-K80

RPRX filed 6 annual reports (10-K), 20 quarterly reports (10-Q) and 80 current reports (8-K) between 2020 and 2026.

  1. Leadership change8-K · Aug ’20Aug ’20
  2. Impairment8-K · Dec ’22Dec ’22
  3. Material agreement8-K · Jun ’24Jun ’24
  4. Material agreement8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed April 13, 2026. Cited figures are marked; the original filing is the authoritative source.

Royalty Pharma plc (RPRX) filed this Form 8-K under Item 7.01 (Regulation FD Disclosure) to disclose that Revolution Medicines, Inc. announced positive Phase 3 results from the RASolute 302 trial of daraxonrasib, an oral RAS(ON) multi-selective inhibitor, in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC).

The trial met all primary and key secondary endpoints, including progression-free survival and overall survival. Revolution Medicines intends to submit the data to global regulatory authorities, including the FDA, as part of a future New Drug Application under a Commissioner's National Priority Voucher. The filing describes the $2 billiona funding agreement announced in June 2025, consisting of a synthetic royalty of up to $1.25 billion on daraxonrasib and a senior secured loan of up to $750 million.

Royalty Pharma funded $250 millionb upfront, and the announcement triggered an additional $250 million tranche. Following this second tranche, Royalty Pharma's total tiered royalty on daraxonrasib sales (and zoldonrasib if approved in an overlapping indication) is 4.55% on sales from $0 to $2 billion, 2.50% on sales from $2 billion to $4 billion, and 1.00% on sales from $4 billion to $8 billion. The filing also describes up to $750 million in additional synthetic royalty funding at Revolution Medicines' option upon certain regulatory, commercial and clinical milestones, including the next $250 million on FDA approval in metastatic PDAC.

If fully drawn, the royalty rates would increase to 7.80%, 4.55% and 2.40% across the same sales bands. Separately, Royalty Pharma is providing a senior secured term loan of up to $750 millionc in three tranches; the first $250 million must be drawn following FDA approval of daraxonrasib for metastatic PDAC, and the two remaining $250 million tranches are at Revolution Medicines' option based on trailing four-quarter net sales milestones.

02—Key points

Key Highlights

  1. Revolution Medicines announced positive Phase 3 RASolute 302 results for daraxonrasib in previously treated metastatic PDAC, meeting all primary and key secondary endpoints including progression-free survival and overall survival.
  2. Revolution Medicines intends to submit the data to global regulators, including the FDA, as part of a future New Drug Application under a Commissioner's National Priority Voucher.
  3. Royalty Pharma funded $250 million upfront under the $2 billion June 2025 agreement, and the announcement triggered an additional $250 million in funding.
  4. Current tiered royalty on daraxonrasib sales is 4.55% on $0 to $2 billion, 2.50% on $2 billion to $4 billion, and 1.00% on $4 billion to $8 billion, also applying to zoldonrasib if approved in an overlapping daraxonrasib indication.
  5. An additional $750 million in synthetic royalty funding is available at Revolution Medicines' option upon regulatory, commercial and clinical milestones, including the next $250 million on FDA approval in metastatic PDAC.
  6. If the remaining $750 million synthetic royalty funding is fully drawn, royalty rates would rise to 7.80%, 4.55% and 2.40% across the same sales bands.
  7. A senior secured term loan of up to $750 million in three tranches is available, with the first $250 million required to be drawn following FDA approval in metastatic PDAC.

03—Questions

Frequently Asked Questions

  1. What did the trial results announced by Revolution Medicines show?

    The Phase 3 RASolute 302 trial of daraxonrasib in previously treated metastatic pancreatic ductal adenocarcinoma met all primary and key secondary endpoints, including progression-free survival and overall survival.

  2. How much has Royalty Pharma funded under its agreement with Revolution Medicines?

    Royalty Pharma funded $250 million upfront, and the April 13, 2026 announcement triggered an additional $250 million in funding, for a total of $500 million funded so far under the $2 billion agreement.

  3. What royalty rates does Royalty Pharma now receive on daraxonrasib sales?

    Royalty Pharma is entitled to total tiered royalties of 4.55% on sales from $0 to $2 billion, 2.50% on sales from $2 billion to $4 billion, and 1.00% on sales from $4 billion to $8 billion, which also applies to zoldonrasib if approved in an overlapping daraxonrasib indication.

  4. What additional funding could Royalty Pharma provide, and what triggers it?

    Up to $750 million in additional synthetic royalty funding is available at Revolution Medicines' option after certain regulatory, commercial and clinical milestones, including the next $250 million on FDA approval in metastatic PDAC. Royalty Pharma also provides a senior secured term loan of up to $750 million in three tranches, with the first $250 million drawn after FDA approval and the other two tranches at the company's option based on trailing four-quarter net sales milestones.

  5. How would fully drawing the remaining synthetic royalty funding change royalty rates?

    If Revolution Medicines fully draws the remaining $750 million, Royalty Pharma's royalty rate would increase to 7.80% on sales from $0 to $2 billion, 4.55% on sales from $2 billion to $4 billion, and 2.40% on sales from $4 billion to $8 billion.

04—Continue

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