Revolution Medicines is a clinical-stage oncology company developing small molecule drugs targeting RAS-driven cancers. RAS mutations drive an estimated 190,000+ new U.S. cancer diagnoses per year, including over 90% of pancreatic cancers, ~50% of colorectal cancers, and ~30% of non-small cell lung cancers. Revolution Medicines has no approved products and no revenue today. The company's core scientific premise is that its RAS(ON) inhibitors bind to the active form of RAS proteins, unlike first-generation inhibitors (which target the inactive form), delivering deeper tumor suppression and more durable responses. Revolution Medicines has three clinical-stage assets: daraxonrasib, a multi-selective inhibitor covering most RAS variants with four Phase 3 trials underway; zoldonrasib, a G12D-selective inhibitor with a Phase 3 trial planned; and elironrasib, a G12C-selective inhibitor that has shown activity in patients who already progressed on first-generation G12C drugs. A central part of the company's strategy is combining daraxonrasib with a mutant-selective inhibitor to simultaneously suppress a specific RAS driver and the broader RAS pathway, addressing the resistance mechanisms that limit earlier drugs. Revolution Medicines funds operations through equity raises and a financing arrangement with Royalty Pharma providing up to $2B in committed capital. The company intends to commercialize drugs independently in the U.S. and major international markets, and is actively building a commercial organization ahead of potential approval.
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