RVMD Stock — Revolution Medicines Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage precision oncology company developing novel targeted therapies for RAS-addicted cancers. We possess sophisticated structure-based drug discovery capabilities built upon deep chemical biology and cancer pharmacology know-how and innovative, proprietary technologies that enable the creation of small molecules tailored to unconventional binding sites.

Source: 10-K FY2025 via SEC EDGAR

Share price

$172.51

Market cap

$37,268.3M

Cash

$3,651.4M

Enterprise value

$34,189.2M

Balance sheet

Cash	$3,651.4M
Debt	$0.0M
Royalty-sale liability	$572.3M
Net cash	$3,651.4M
Enterprise value	$34,189.2M
Basic shares	216.3M shares
Fully diluted shares	250.6M shares
Fully diluted market cap	$43,236.5M
Cash per share	$16.88
Quarterly burn	$387.3M
Cash runway	9.4 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-13.

Royalty-sale liability as of 2026-09-30 (10-Q); included in enterprise value.

Share structure

Common

216.3M

Pre-funded warrants

0.0M

Options

17.7M

RSUs

4.8M

Warrants

2.2M

Converts

2.5M

Conv preferred

0.0M

ESPP reserve

7.1M

FDSO

250.6M

Cap table as of 2026-09-30.

Price history

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Next catalyst

RMC-9805 · Feb 11 - Mar 25 in 13 wks · Phase 1 · Non-small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Ductal Adenocarcinoma (PDAC)

Recently reported

Daraxonrasib Phase 3 Positive · 2026-10-15

Primary: Overall survival and progression-free survival in the Phase 3 RASolute 302 trial versus investigator's-choice chemotherapy in metastatic pancreatic adenocarcinoma — In the ITT population, overall survival HR 0.40 (95% CI 0.30-0.53; p<0.0001) with median OS 13.2 months versus 6.7 months, and progression-free survival HR 0.49 (95% CI 0.38-0.64; p<0.0001) with median PFS 7.2 versus 3.6 months

· Trial met all primary and key secondary endpoints in both the RAS G12-mutant and overall intent-to-treat populations

· Later ad hoc OS analysis showed median OS 12.4 versus 6.7 months (HR 0.49)

· CHMP positive opinion recommending EU marketing authorization as monotherapy after at least one prior systemic therapy

· European Commission decision pending

· RASONQUE was FDA-approved on August 26, 2026

Safety: Most common adverse reactions were diarrhea, dermatitis acneiform, stomatitis, nausea, vomiting and fatigue

Source release →

RMC-6236 Mixed · 2026-04-13

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Feb 11 - Mar 25 in 13 wks	RMC-9805	Phase 1	Non-small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Ductal Adenocarcinoma (PDAC)	—
May 12 - Jun 23 in 6 mo	RMC-6291	Phase 1	Non-Small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Ductal Adenocarcinoma	—
GUIDEDEst. Jul 2, 2027 in 7 wks guidance midpoint	daraxonrasib RASolve 301 Phase 3 in RAS-mutant NSCLC	Phase 3	RAS-mutant NSCLC	2027
Jun 26 - Aug 7 in 7 mo	RMC-6236	Phase 2	Colorectal Cancer; CRC; Pancreatic Ductal Adenocarcinoma	—
Jul 12 - Aug 23 in 8 mo	RMC-6236	Phase 2	Non-small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Ductal Adenocarcinoma (PDAC)	—
Jul 13 - Aug 24 in 8 mo	RMC-6291	Phase 2	Non-Small Cell Lung Cancer, NSCLC; KRAS, NRAS, HRAS-mutated NSCLC; KRAS G12C-mutated Solid Tumors, Lung Cancer	—
Jul 13 - Aug 24 in 8 mo	TNG462	Phase 2	PDAC; PDAC - Pancreatic Ductal Adenocarcinoma; NSCLC	—
Jan 12 - Feb 23 in 14 mo	daraxonrasib	Phase 3	NSCLC (Non-small Cell Lung Cancer); Non-Small Cell Lung Cancer; NSCLC	—
May 13 - Jun 24 in 18 mo	RMC-5127	Phase 1	Non-small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Adenocarcinoma	—
Jul 13 - Aug 24 in 20 mo	daraxonrasib	Phase 3	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
Jan 12 - Feb 23 in 26 mo	Elironrasib	Phase 2	Non-Small Cell Lung Cancer (NSCLC); Colorectal Cancer; Pancreatic Ductal Adenocarcinoma	—
Feb 10 - Mar 24 in 27 mo	Zoldonrasib	Phase 3	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
Apr 12 - May 24 in 29 mo	daraxonrasib	Phase 3	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
Jun 12 - Jul 24 in 31 mo	Daraxonrasib	Phase 2	Advanced Solid Tumors; Metastatic Solid Tumors; Non-small Cell Lung Cancer (NSCLC)	—
Jun 21 - Aug 2 in 32 mo	daraxonrasib	Phase 3	Pancreatic Cancer; PDAC; PDAC - Pancreatic Ductal Adenocarcinoma	—
Jul 13 - Aug 24 in 32 mo	SNV1521	Phase 1	Pancreatic Cancer; Pancreatic Acinar Carcinoma	—
Nov 12 - Dec 24 in 36 mo	zoldonrasib	Phase 3	NSCLC; Non-small Cell Lung Cancer; Non-Small Cell Lung Cancer NSCLC	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Daraxonrasib

Phase 3 · Active Modality: Oral tri-complex inhibitor (RAS(ON) multi-selective)

Aliases RMC-6236

Target RAS (G12, G13, Q61 multi-selective)

Partnerships Royalty Pharma (Jun 2025 revenue participation agreement on worldwide RMC-6236 Product sales). Clinical collaborations: Synnovation (SNV1521 + daraxonrasib in PDAC).

Indications

Metastatic pancreatic cancer, previously treated (2L PDAC) (Stage not disclosed)
Metastatic PDAC, first-line (with and without chemotherapy) (Phase 3)
Resectable PDAC, adjuvant (Phase 3)
RAS mutant NSCLC, previously treated with immunotherapy and platinum chemotherapy (Phase 3)

Catalysts

— 2026
— 2026 (2H)

Status note RASolute 302 Phase 3 registration study (daraxonrasib vs chemotherapy in 2L PDAC) completed; NDA accepted by FDA for previously treated metastatic pancreatic cancer; EMA initiated a phased review. Phase 3 PDAC and NSCLC programs ongoing.

Zoldonrasib

Phase 3 · Active Modality: Oral tri-complex inhibitor (RAS(ON) G12D-selective)

Aliases RMC-9805

Target RAS G12D

Partnerships Royalty Pharma (royalty participation on RMC-9805 Products if approved for the same indication as an approved RMC-6236 Product). Clinical collaboration: Tango (vopimetostat + zoldonrasib in MTAP-deleted RAS-mutant PDAC/NSCLC).

Indications

Metastatic PDAC, first-line (in combination with investigator-choice chemotherapy) (Phase 3)
Metastatic RAS G12D PDAC, first-line (in combination with daraxonrasib) (Phase 3)
Metastatic RAS G12D NSCLC, first-line (in combination with standard of care) (Phase 3)

Catalysts

— 2026 (2H)

Status note Global randomized Phase 3 registrational studies ongoing: RASolute 305 (1L PDAC + chemo), RASolute 309 (with daraxonrasib, 1L RAS G12D PDAC), RASolve 308 (1L RAS G12D NSCLC + standard of care). FDA Breakthrough Therapy Designation for KRAS G12D-mutated locally advanced/metastatic NSCLC previously treated with anti-PD-1/PD-L1.

Elironrasib

Phase 3 · Active Modality: Oral tri-complex inhibitor (RAS(ON) G12C-selective)

Aliases RMC-6291

Target RAS G12C

Indications

Metastatic RAS G12C NSCLC, first-line (in combination with standard of care) (Phase 3)

Catalysts

— 2026 (Q4)

Status note RASolve 307 global randomized Phase 3 registrational trial in 1L RAS G12C NSCLC planned to initiate in 4Q 2026. FDA Breakthrough Therapy Designation for KRAS G12C-mutated locally advanced/metastatic NSCLC previously treated with chemotherapy and immunotherapy.

RMC-5127

Phase 1 · Active Modality: Oral tri-complex inhibitor (RAS(ON) G12V-selective)

Aliases RMC-5127

Target RAS G12V

Indications

RAS G12V-bearing cancers (Phase 1)

Catalysts

— 2026 (2H)

Status note First-in-human dose escalation clinical trial ongoing.

RMC-0708

Preclinical · Active Modality: Oral tri-complex inhibitor (RAS(ON) Q61H-selective)

Aliases RMC-0708

Target RAS Q61H

Indications

RAS Q61H cancers (Preclinical)

Status note Preclinical-stage RAS(ON) inhibitor clinical development opportunity; clinical development subject to continuing assessment of portfolio priorities.

RMC-8839

Preclinical · Active Modality: Oral tri-complex inhibitor (RAS(ON) G13C-selective)

Aliases RMC-8839

Target KRAS G13C

Indications

KRAS G13C cancers (Preclinical)

Status note Preclinical-stage RAS(ON) inhibitor clinical development opportunity; clinical development subject to continuing assessment of portfolio priorities.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	RMC-6236
Lead indication	Pancreatic Cancer
Lead phase	Phase 3
Active trials	15
Collaborator trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06881784	Phase 3	Recruiting	Sponsor	RVMD	—	NSCLC (Non-small Cell Lung Cancer); Non-Small Cell Lung Cancer; NSCLC	2027 Est. Dec 31, 2027 · PCD + 6 wks (Dec 29-Dec 31)
NCT07491445	Phase 3	Recruiting	Sponsor	RVMD	—	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
NCT07621718	Phase 3	Recruiting	Sponsor	RVMD	—	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
NCT07805954	Phase 3	Recruiting	Sponsor	RVMD	—	Pancreatic Cancer; Pancreatic Cancer Metastatic; PDAC	—
NCT07252232	Phase 3	Recruiting	Sponsor	RVMD	—	Pancreatic Cancer; PDAC; PDAC - Pancreatic Ductal Adenocarcinoma	—
NCT07777822	Phase 3	Recruiting	Sponsor	RVMD	—	NSCLC; Non-small Cell Lung Cancer; Non-Small Cell Lung Cancer NSCLC	—
NCT06625320	Phase 3	Active, not recruiting	Sponsor	RVMD	—	Pancreatic Cancer; PDAC; PDAC - Pancreatic Ductal Adenocarcinoma	—
NCT06445062	Phase 2	Recruiting	Sponsor	RVMD	—	Colorectal Cancer; CRC; Pancreatic Ductal Adenocarcinoma	—
NCT05379985	Phase 2	Recruiting	Sponsor	RVMD	—	Non-small Cell Lung Cancer (NSCLC); Colorectal Cancer (CRC); Pancreatic Ductal Adenocarcinoma (PDAC)	—
NCT06162221	Phase 2	Recruiting	Sponsor	RVMD	—	Non-Small Cell Lung Cancer, NSCLC; KRAS, NRAS, HRAS-mutated NSCLC; KRAS G12C-mutated Solid Tumors, Lung Cancer	—
NCT06128551	Phase 2	Recruiting	Sponsor	RVMD	—	Non-Small Cell Lung Cancer (NSCLC); Colorectal Cancer; Pancreatic Ductal Adenocarcinoma	—
NCT07397338	Phase 2	Recruiting	Sponsor	RVMD	—	Advanced Solid Tumors; Metastatic Solid Tumors; Non-small Cell Lung Cancer (NSCLC)	—

Sponsor-matched active trials from ClinicalTrials.gov (15 as sponsor, 3 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 18 active trials for Revolution Medicines, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Deerfield Management	202,392,000	+200,095,000	7.30%	2026-08-14
Baker Bros. Advisors	11,443,357	+1,888,000	10.74%	2026-08-14
OrbiMed Advisors	3,570,500	+3,518,500	0.33%	2026-08-14
BVF Partners	2,965,160	+108,378	14.20%	2026-08-14
Casdin Capital	2,577,333	no change	24.16%	2026-08-14
Avoro Capital Advisors	2,297,000	-47,444	3.86%	2026-08-14
Perceptive Advisors	777,600	+269,000	1.57%	2026-08-14
Logos Global Management	700,000	-1,300,000	5.64%	2026-08-14
DAFNA Capital	562,630	-18,048	20.09%	2026-08-14
Boxer Capital	500,000	no change	7.05%	2026-08-14
ADAR1 Capital Management	87,509	-46,384	0.77%	2026-08-14
Sphera Biotech	22,400	-32,710	0.60%	2026-08-14
Braidwell LP	0	-84,900	0.00%	2026-08-14
Frazier Life Sciences	0	-675,686	0.00%	2026-08-14
Ikarian Capital	0	-163,142	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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RVMD — Revolution Medicines Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

RVMD — Revolution Medicines Inc.