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Revolution Medicines 8-K Report, Financial Results (May 7, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 7, 2025
Period End
May 7, 2025
Securities
RVMDRVMDW
In the record · 2020–202610-K710-Q208-K72

RVMD filed 7 annual reports (10-K), 20 quarterly reports (10-Q) and 72 current reports (8-K) between 2020 and 2026.

  1. Leadership change8-K · Mar ’21Mar ’21
  2. Leadership change8-K · Jul ’22Jul ’22
  3. Deal closed8-K · Nov ’23Nov ’23
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed May 7, 2025. Cited figures are marked; the original filing is the authoritative source.

Revolution Medicines, Inc. (Nasdaq: RVMD) reported its financial results for the quarter ended March 31, 2025 in a press release furnished as Exhibit 99.1 to this Form 8-K.

The company reported research and development expenses of $205.7 milliona (versus $118.0 million a year earlier) and general and administrative expenses of $35.0 million (versus $22.8 million), resulting in a net loss of $213.4 million, or $1.13 per share, compared with a net loss of $116.0 million, or $0.70 per share, for the prior-year quarter. Cash, cash equivalents and marketable securities totaled $2.1 billion as of March 31, 2025. The company reiterated its full-year 2025 GAAP net loss guidance of $840 million to $900 million, including estimated non-cash stock-based compensation of $115 million to $130 million, and said current cash can fund planned operations into the second half of 2027.

On the clinical front, the company highlighted its two ongoing Phase 3 trials of daraxonrasib: RASolute 302 in previously treated pancreatic ductal adenocarcinoma, where enrollment is expected to substantially complete this year to enable a data readout in 2026, and RASolve 301 in previously treated non-small cell lung cancer, where sites are being activated. Planned registrational trials of daraxonrasib in first-line metastatic and adjuvant PDAC are expected to start in the second half of 2025. The company also presented early data for its RAS(ON) inhibitors zoldonrasib, elironrasib and daraxonrasib in NSCLC, including combination data, and plans one or more pivotal combination trials in 2026.

Corporate updates include the appointment of Anthony Mancini as chief global commercialization officer, who will oversee commercialization strategy and operations as the company prepares for a potential launch. The company also said RMC-5127, a RAS(ON) G12V-selective inhibitor, is on track to reach a clinic-ready stage later this year, with Phase 1 initiation expected in 2026.

02—Key points

Key Highlights

  1. Q1 2025 R&D expenses rose to $205.7 million from $118.0 million, driven by clinical trial and manufacturing costs for daraxonrasib, zoldonrasib and elironrasib.
  2. Q1 2025 net loss was $213.4 million, or $1.13 per share, versus $116.0 million, or $0.70 per share, in Q1 2024.
  3. Cash, cash equivalents and marketable securities were $2.1 billion as of March 31, 2025; the company says this can fund planned operations into the second half of 2027.
  4. Full-year 2025 GAAP net loss guidance reiterated at $840 million to $900 million, including $115 million to $130 million of non-cash stock-based compensation.
  5. RASolute 302 (daraxonrasib, previously treated PDAC) is expected to substantially complete enrollment in 2025, with a data readout expected in 2026.
  6. Zoldonrasib monotherapy showed an ORR of 61% and a DCR of 89% in 18 efficacy-evaluable previously treated KRAS G12D NSCLC patients; elironrasib monotherapy showed an ORR of 56% at 200 mg BID in 36 patients with previously treated G12C NSCLC.
  7. Anthony Mancini joined as chief global commercialization officer to oversee commercialization strategy and operations.

03—Questions

Frequently Asked Questions

  1. How much did Revolution Medicines lose in the first quarter of 2025?

    The company reported a net loss of $213.4 million, or $1.13 per share, for the quarter ended March 31, 2025, compared with a net loss of $116.0 million, or $0.70 per share, for the same period in 2024.

  2. How much cash does the company have and how long will it last?

    Cash, cash equivalents and marketable securities were $2.1 billion as of March 31, 2025. Based on its current operating plan, the company projects this cash can fund planned operations into the second half of 2027.

  3. What is the company's full-year 2025 net loss guidance?

    Revolution Medicines reiterated projected full-year 2025 GAAP net loss guidance of $840 million to $900 million, which includes estimated non-cash stock-based compensation expense of $115 million to $130 million.

  4. When are the key daraxonrasib Phase 3 data expected?

    The company expects to substantially complete enrollment in the RASolute 302 Phase 3 trial in previously treated PDAC this year to enable an expected data readout in 2026. The RASolve 301 Phase 3 trial in previously treated NSCLC is currently activating study sites.

  5. What new pipeline and leadership developments were announced?

    Anthony Mancini joined as chief global commercialization officer. The company expects to start first-line metastatic and adjuvant PDAC registrational trials of daraxonrasib in the second half of this year, expects to initiate one or more pivotal combination trials in 2026 with zoldonrasib or elironrasib, and expects RMC-5127 to reach clinic-ready stage later this year with Phase 1 initiation in 2026.

04—Continue

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