1. REDWOOD CITY, Calif., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that the company will participate in the upcoming 3rd Annual RAS-Targeted Drug Development Summit being held September 21-23, 2021. Steve Kelsey, M.D., president, research and development, will serve as chairperson for one of the conference's scientific tracks and moderate a panel discussion during the virtual event. In addition, Jan Smith, Ph.D., senior vice president, biology and Bob Nichols, Ph.D., project lead for RMC-6291, the company's development-stage KRASG12C(ON) inhibitor…

    REDWOOD CITY, Calif., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that the company will participate in the upcoming 3rd Annual RAS-Targeted Drug Development Summit being held September 21-23, 2021. Steve Kelsey, M.D., president, research and development, will serve as chairperson for one of the conference's scientific tracks and moderate a panel discussion during the virtual event. In addition, Jan Smith, Ph.D., senior vice president, biology and Bob Nichols, Ph.D., project lead for RMC-6291, the company's development-stage KRASG12C(ON) inhibitor, will each deliver a scientific presentation as part of the conference.

    Details of Revolution Medicines' participation in the 3rd Annual RAS-Targeted Drug Development Summit are as follows:

    Presentations:

      
    Title:Targeting KRASG12C(ON) & Potential Application to Overcoming Drug Resistance in RAS-Addicted Tumors
    Presenter:Bob Nichols, Ph.D., project lead for RMC-6291
    Date:Wednesday, September 22, 2021
    Time:11:55 a.m. Eastern
      
    Title:Combination Strategies to Defeat RAS-Addicted Cancers
    Presenter:Jan Smith, Ph.D., senior vice president, biology
    Date:Wednesday, September 22, 2021
    Time:2:00 p.m. Eastern
      
    Panel Discussion:
      
    Title:On the Horizon – Discussing the Post-Approval Landscape for Successful RAS Drugs Beyond AMG510
    Moderator:Steve Kelsey, M.D., president, research and development
    Date:Thursday, September 23, 2021
    Time:4:15 p.m. Eastern
      
    Scientific Track:
      
    Title:Validating Robust Combination Strategies
    Chairperson:Steve Kelsey, M.D., president, research and development
    Date/Time:Wednesday, September 22, 2021; 11:30 a.m. – 5:00 p.m. Eastern

    Thursday, September 23, 2021; 11:00 a.m. – 12:30 p.m. Eastern
      

    Additional information on the Digital RAS-Targeted Drug Discovery Summit is available through the conference website at https://ras-drugdevelopment.com/

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Contacts:

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    Stephanie Diaz

    415-675-7401

    sdiaz@vidasp.com

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    Tim Brons

    415-675-7402

    tbrons@vidasp.com



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  2. REDWOOD CITY, Calif., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., the company's chief executive officer and chairman, will deliver a corporate presentation as part of the H.C. Wainwright 23rd Annual Global Investment Conference.

    Details of the company's participation are as follows:

    • H.C. Wainwright 23rd Annual Global Investment Conference
      Conference Dates: September 13-15, 2021
      Presentation Timing: 7:00 a.m. Eastern on Monday, September 13, 2021
      Format: Virtual conference; webcast available

    To access the live…

    REDWOOD CITY, Calif., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., the company's chief executive officer and chairman, will deliver a corporate presentation as part of the H.C. Wainwright 23rd Annual Global Investment Conference.

    Details of the company's participation are as follows:

    • H.C. Wainwright 23rd Annual Global Investment Conference

      Conference Dates: September 13-15, 2021

      Presentation Timing: 7:00 a.m. Eastern on Monday, September 13, 2021

      Format: Virtual conference; webcast available

    To access the live webcast of the presentation, please visit the "Events & Presentations" page of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. Additionally, a replay of the webcast will be available on the "Events & Presentations" page of the Revolution Medicines website for at least 14 days following the conference.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.



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    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  3. Company Shows Continued Progress Demonstrating Differentiation of RAS(ON) Inhibitors, Targeting Additional RAS Variants and Progressing Assets Toward the Clinic

    Initial Results of RMC-4630-02 Study Support Deprioritizing Certain Approaches and Focusing on Combinations of RMC-4630 with Direct RAS Inhibitors

    New Amgen Clinical Collaboration and Supply Agreement for Planned Global Phase 2 Study, RMC-4630-03, Evaluating RMC-4630 in Combination with Lumakras

    REDWOOD CITY, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced its financial results…

    Company Shows Continued Progress Demonstrating Differentiation of RAS(ON) Inhibitors, Targeting Additional RAS Variants and Progressing Assets Toward the Clinic

    Initial Results of RMC-4630-02 Study Support Deprioritizing Certain Approaches and Focusing on Combinations of RMC-4630 with Direct RAS Inhibitors

    New Amgen Clinical Collaboration and Supply Agreement for Planned Global Phase 2 Study, RMC-4630-03, Evaluating RMC-4630 in Combination with Lumakras

    REDWOOD CITY, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced its financial results for the second quarter and six months ended June 30, 2021, and provided a corporate update.

    "Treatment for RAS-addicted cancers reached an important milestone in the second quarter with the first FDA approval of a targeted medicine for lung cancer carrying the KRASG12C mutation, Amgen's Lumakras™, or sotorasib. Likewise, Revolution Medicines continued making excellent progress reinforcing our belief that our cohesive and innovative asset portfolio can lead to rational, mechanism-based and beneficial combination treatments for patients. We have made the decision to deprioritize indirect combination treatment strategies represented in the RMC-4630-02 study while expanding evaluation of combination regimens with direct inhibitors of RAS proteins combined with our SHP2 inhibitor, RMC-4630. We are particularly gratified to conduct the RMC-4630-03 study under a clinical trial collaboration and supply agreement with Amgen through which we will evaluate the combination for potential additional benefit to lung cancer patients with the KRASG12C tumor mutation. We also maintain strong momentum toward bringing our highly differentiated RAS(ON) Inhibitors to bear against a wide range of RAS-addicted cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.

    R&D Highlights

    RAS(ON) Inhibitors – Revolution Medicines continues to advance its first-in-class RAS(ON) Inhibitor platform, including an expansive collection of tri-complex inhibitors targeting diverse oncogenic RAS variants through highly differentiated chemical and pharmacologic profiles.

    • RMC-6291 (KRASG12C) - RMC-6291 is a first-in-class, potent, oral and selective tri-complex inhibitor of KRASG12C(ON) with a differentiated preclinical profile designed to address persistent unmet needs for patients with cancers caused by KRASG12C.



      • During the second quarter, the company reported additional data at the American Association for Cancer Research (AACR) annual meeting and in a subsequent presentation showing that RMC-6291 provides deeper and/or more sustained anti-tumor effects in xenograft KRASG12C cancer models compared to a first-generation RAS(OFF) inhibitor, expanding the evidence that RMC-6291 has the potential to be a best-in-class KRASG12C inhibitor.
      • The company has expanded on initial results published in Cancer Discovery by Dr. Ryan Corcoran's team at the Massachusetts General Hospital/Harvard Medical School by demonstrating that RMC-6291 is active against all second-site resistance mutations reported thus far from patients treated with adagrasib. As many of these mutations also confer resistance to sotorasib and other KRASG12C(OFF) inhibitors, the activity of RMC-6291 in this setting illustrates a distinguishing property of the molecule that may be useful for preventing, or treating, emergence of these resistance mutations.
      • The company remains on track to submit an Investigational New Drug (IND) application for RMC-6291 in the first half of 2022.
    • RMC-6236 (RASMULTI) - RMC-6236 is a first-in-class, potent, oral RAS-selective tri-complex, RASMULTI(ON) inhibitor that is designed to treat cancers caused by multiple RAS variants for which no targeted treatment is currently available.



      • During the second quarter, the company reported deep anti-tumor activity of RMC-6236 in preclinical lung, colorectal and pancreatic cancer models driven by various common mutations, including KRASG12V and KRASG12D, at the AACR annual meeting and in a subsequent presentation, supporting its potential as a first targeted therapy for treating KRASG12V and/or KRASG12D tumors.

      • A study published by the Dana-Farber Cancer Institute in the New England Journal of Medicine identified "RAS oncogene switch" resistance mutations in patients treated with adagrasib. The company subsequently presented preclinical data demonstrating that RMC-6236 is active against all of these clinically observed variants, revealing important properties of RMC-6236 that may be useful for preventing, or treating, emergence of such resistance mutations.
      • The company remains on track to submit an IND for RMC-6236 in the first half of 2022.



    • Continued expansion of other RAS(ON) inhibitor programs – Revolution Medicines continues to progress its expanding portfolio of RAS(ON) Inhibitors designed to target RAS variants driving the vast majority of RAS-addicted cancers and remains on track to nominate a third development candidate from its RAS(ON) inhibitor portfolio in the second half of 2021.

    RAS Companion Inhibitors – Revolution Medicines continues to advance and expand multiple clinical studies of its RAS Companion Inhibitors designed to provide maximum clinical benefit in RAS-addicted cancers.

    • RMC-4630 (SHP2 Inhibitor) – RMC-4630 a potent, oral, selective inhibitor of the SHP2 protein, is being advanced in collaboration with, and is primarily funded by, Sanofi.

       
      • RMC-4630 and KRASG12C inhibitor sotorasib
        • Amgen's CodeBreaK 101c study continues evaluating sotorasib in combination with RMC-4630 in patients receiving second line or later treatment for advanced non-small cell lung cancer (NSCLC), colorectal cancer (CRC), and other solid tumors. To date this combination has demonstrated acceptable tolerability and cleared early dose levels. The dose escalation work continues at the target dose for each compound: RMC-4630 200 mg on a Day 1 / Day 2 (D1D2) weekly schedule, in combination with sotorasib 960 mg daily. Amgen anticipates selecting a combination dose for this study in the second half of 2021.
        • Today, Revolution Medicines announces a global Phase 2 study that will evaluate further the combination of RMC-4630 and sotorasib in lung cancer. The protocol for the new study, RMC-4630-03, is informed by the CodeBreaK 101c work to date as well as the many important learnings in the field over the last few years. The study, sponsored by Revolution Medicines under its global partnership with Sanofi, will be conducted in collaboration with Amgen, including supply of drug by Amgen at ex-U.S sites. RMC-4630-03 will evaluate the combination in inhibitor-naïve patients with advanced NSCLC that builds on, and is complementary to, CodeBreaK 101c. Study startup activities are ongoing, and the company expects to dose the first patient in the second half of 2021 and to have preliminary findings in the second half of 2022.



      • RMC-4630 and MEK inhibitor cobimetinib (Cotellic®)
        • Previously reported findings from the Phase 1b/2 study of this combination in patients with relapsed/refractory solid tumors harboring specific genomic mutations demonstrated acceptable tolerability, also observed among patients enrolled in expansion cohorts. Among 11 efficacy evaluable patients with NSCLC, one patient with a KRASG12V tumor mutation and gene amplification exhibited a confirmed partial response (PR) with a 45% tumor volume reduction. Among 25 efficacy evaluable CRC subjects, the best clinical response was stable disease. These results support the anti-tumor activity of RMC-4630 and its potential for clinical benefit in RAS-driven cancers and to be combined tolerably with other drugs. However, insufficient clinical benefit was observed to justify advancing this approach, and no additional patients will be enrolled in this study. The findings reinforce the company's belief that the optimal treatment for RAS-addicted cancers may come from combining RMC-4630 with direct RAS inhibitors.



      • RMC-4630 and EGFR inhibitor osimertinib (Tagrisso®)
        • The company initiated a Phase 1b study of this combination with the intent of suppressing adaptive resistance mechanisms that may eventually reduce the efficacy of osimertinib upon long-term treatment. To date, the company has not identified a combination dose and schedule with acceptable tolerability, indicating that the combined suppression of RAS signaling in normal tissues caused by these two agents presents too significant a safety hurdle to justify advancing this approach, and no further patients will be enrolled in this study. No clinical toxicity was observed that has been attributed to off-target effects of RMC-4630. Rather the company believes that osimertinib and RMC-4630 are both effective, and additive, on-pathway inhibitors. The company intends to increase its focus on RAS-addicted cancers by combining direct RAS inhibitors with RAS Companion Inhibitors including RMC-4630.



      • RMC-4630 and PD-1 inhibitor pembrolizumab (Keytruda®)
        • The TCD16210 study sponsored by Sanofi continues evaluating RMC-4630 in combination with pembrolizumab, a PD-1 inhibitor. Today, the company reports that preparation is underway for Phase 2 expansion focused on evaluating this combination as front-line treatment for patients with PD-L1+ NSCLC.



      • RMC-4630 monotherapy
        • The company presented a dose escalation activity data set from its ongoing Phase 1 study at the 2021 AACR annual meeting, showing anti-tumor activity and safety and tolerability that are consistent with on-pathway inhibition.
        • Additional data were presented at the AACR meeting showing reduction of variant allele frequency in circulating tumor DNA (ctDNA) samples from select patients treated with RMC-4630, further validating its expected clinical mechanism of action.



    • RMC-5552 (mTORC1/4EBP1 Inhibitor) – RMC-5552 is a potent, selective bi-steric inhibitor of mTORC1 that suppresses phosphorylation and inactivation of 4EBP1.



      • Enrollment and dosing are underway in a Phase 1 monotherapy dose-escalation study. The company continues to expect initial safety, pharmacokinetic and single agent activity data in 2022.

      • The company reported preclinical data at the 2021 AACR annual meeting demonstrating that bi-steric mTORC1-selective inhibitors drive significant anti-tumor activity as monotherapy and in combination with KRASG12C inhibitors in genetically-defined models of human cancers.
      • The company recently announced the publication of an original scientific paper in Nature Chemical Biology describing anti-tumor effects of bi-steric mTORC1-selective inhibitors that potently suppress phosphorylation of 4EBP1, a key translational regulator of oncogene expression. In preclinical models, a series of bi-steric inhibitors demonstrated the favorable anti-tumor effects and tolerability of such compounds compared to earlier generations of mTOR inhibitors.
      • The company intends to evaluate RMC-5552 in combination with RAS inhibitors for the treatment of tumors driven by co-occurring RAS mutations and genomic activation of the mTORC1 pathway.
    • RMC-5845 (SOS1 Inhibitor) – RMC-5845 is a potent, selective, oral inhibitor of SOS1, a major switch in the cycling of RAS(OFF) to RAS(ON).



      • The company expects RMC-5845 to be IND-ready in the second half of 2021. Due to its current focus on other priorities, including the continued advancement of its RAS(ON) Inhibitor programs and the initiation of the RMC-4630-03 study, the company no longer intends to submit an IND for RMC-5845 in 2021 and will determine timing for a potential IND at a future date.

    Corporate Highlights

    • Flavia Borellini, Ph.D. elected to board of directors – Dr. Borellini has more than 25 years of executive management experience in the pharmaceutical and biotechnology industry, with a particular focus on global development of targeted oncology drugs, from preclinical to commercial stage.

    Second Quarter 2021 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $646.3 million as of June 30, 2021, compared to $440.7 million as of December 31, 2020. The increase was primarily due to proceeds from the company's equity public offering in February 2021.

    Revenue: Total revenue, consisting of revenue from the company's collaboration agreement with Sanofi, was $8.7 million for the quarter ended June 30, 2021, compared to $10.0 million for the quarter ended June 30, 2020. The decrease was due to lower reimbursed research and development services for RMC-4630 resulting from lower clinical trial costs.

    R&D Expenses: Research and development expenses were $45.9 million for the quarter ended June 30, 2021, compared to $32.9 million for the quarter ended June 30, 2020. The increase was primarily due to an increase in research expenses associated with the company's pre-clinical research portfolio, an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation.

    G&A Expenses: General and administrative expenses were $7.3 million for the quarter ended June 30, 2021, compared to $5.1 million for the quarter ended June 30, 2020. The increase was primarily due to stock-based compensation and personnel-related expenses related to additional headcount.

    Net Loss: Net loss was $44.3 million for the quarter ended June 30, 2021, compared to a net loss of $27.2 million for the quarter ended June 30, 2020.

    2021 Financial Guidance

    Revolution Medicines continues to expect full year 2021 GAAP net loss to be between $170 million and $190 million, which includes estimated non-cash stock-based compensation expense of approximately $20 million.

    Conference Call

    Revolution Medicines will host a conference call and webcast this afternoon, August 11, 2021, at 4:30 PM EDT (1:30 PM PDT).

    To listen to the conference call, please dial (833) 423-0425 or (918) 922-3069, provide conference ID: 9829729 and request the Revolution Medicines conference call. To listen to the live webcast, or access the archived webcast, please visit: https://ir.revmed.com/events-and-presentations. Following the live webcast, a replay will be available on the Company's website for at least 14 days.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co. Tagrisso® is a registered trademark of the AstraZeneca group of companies. Cotellic® is a registered trademark of Genentech, Inc. (a member of the Roche Group). Lumakras is a trademark of Amgen, Inc.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the company's development plans and timelines and its ability to advance its portfolio and R&D pipeline; the company's belief that its asset portfolio can lead to rational, mechanism-based and beneficial combination treatments for patients; dosing, expansion and enrollment in the company's clinical trials and the tolerability and potential efficacy of the company's candidates being studied; the ability of the company's therapies to inhibit frontier targets in RAS-addicted cancers, including bringing its RAS(ON) inhibitors to bear against RAS-addicted cancers; the company's plans to submit an IND for RMC-6291 and RMC-6236; the company's plans to nominate a third development candidate from its RAS(ON) inhibitor portfolio; the selection of a combination dose for the CodeBreak 101c study; enrollment in and findings from the company's planned RMC-4630-03 study; the company's plans to study its RAS Companion Inhibitors, including RMC-4630 and RMC-5552, in combination with RAS inhibitors; the potential advantages and effectiveness of the company's preclinical candidates, including its RAS(ON) Inhibitors; the company's plans to release data related to its RAS Companion Inhibitors, including RMC-5552, and the related timing; and the company's expected net loss and estimated stock-based compensation expenses for the year ending December 31, 2021. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 11, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



    REVOLUTION MEDICINES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

      Three Months Ended June 30,  Six Months Ended June 30, 
      2021  2020  2021  2020 
    Revenue:                
    Collaboration revenue $8,698  $10,025  $18,829  $21,571 
    Total revenue  8,698   10,025   18,829   21,571 
    Operating expenses:                
    Research and development  45,936   32,918   86,794   60,375 
    General and administrative  7,297   5,091   13,967   10,262 
    Total operating expenses  53,233   38,009   100,761   70,637 
    Loss from operations  (44,535)  (27,984)  (81,932)  (49,066)
    Other income (expense), net:                
    Interest income  236   730   469   1,639 
    Interest expense     (19)  (12)  (40)
    Total other income (expense), net  236   711   457   1,599 
    Loss before income taxes  (44,299)  (27,273)  (81,475)  (47,467)
    Benefit from income taxes     58      733 
    Net loss $(44,299) $(27,215) $(81,475) $(46,734)
    Redeemable convertible preferred stock dividends - undeclared and cumulative            (2,219)
    Net loss attributable to common stockholders $(44,299) $(27,215) $(81,475) $(48,953)
    Net loss per share attributable to common stockholders - basic and diluted $(0.60) $(0.46) $(1.13) $(1.11)
    Weighted-average common shares used to compute net loss per share, basic and diluted  73,399,714   58,752,494   71,917,508   44,025,372 



    REVOLUTION MEDICINES, INC.

    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, unaudited)

      June 30,  December 31, 
      2021  2020 
             
    Cash, cash equivalents and marketable securities $646,322  $440,741 
    Working capital (1)  615,210   406,946 
    Total assets  774,046   567,401 
    Deferred revenue  15,928   20,592 
    Total liabilities  89,040   92,725 
    Total stockholders' equity  685,006   474,676 

    (1)   Working capital is defined as current assets less current liabilities.



    Contacts:
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  4. REDWOOD CITY, Calif., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that it will report financial results for the second quarter 2021 on August 11, 2021 after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time during which members of Revolution Medicines' senior management team will discuss financial results for the quarter and review recent corporate developments.

    To listen to the live webcast, or access the archived webcast, please visit the "Events & Presentations" page of Revolution Medicines' website…

    REDWOOD CITY, Calif., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced that it will report financial results for the second quarter 2021 on August 11, 2021 after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time during which members of Revolution Medicines' senior management team will discuss financial results for the quarter and review recent corporate developments.

    To listen to the live webcast, or access the archived webcast, please visit the "Events & Presentations" page of Revolution Medicines' website at: https://ir.revmed.com/events-and-presentations. Following the live webcast, a replay will be available on the Company's website for at least 14 days.

    To listen to the live conference call, please dial (833) 423-0425 or (918) 922-3069 and request the Revolution Medicines call (conference ID: 9829729).

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.



    Contacts:
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

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  5. REDWOOD CITY, Calif., June 24, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced the publication of an original scientific paper in Nature Chemical Biology describing anti-tumor effects of bi-steric mTORC1-selective inhibitors that potently suppress phosphorylation of 4EBP1, a key translational regulator of oncogene expression. In preclinical models of cancers with mutations that drive mTORC1 hyperactivation, a series of bi-steric inhibitors demonstrated the favorable anti-tumor effects and tolerability of deeply and selectively inhibiting mTORC1 compared to earlier generations…

    REDWOOD CITY, Calif., June 24, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced the publication of an original scientific paper in Nature Chemical Biology describing anti-tumor effects of bi-steric mTORC1-selective inhibitors that potently suppress phosphorylation of 4EBP1, a key translational regulator of oncogene expression. In preclinical models of cancers with mutations that drive mTORC1 hyperactivation, a series of bi-steric inhibitors demonstrated the favorable anti-tumor effects and tolerability of deeply and selectively inhibiting mTORC1 compared to earlier generations of mTOR inhibitors. Mutations that cause hyperactive mTORC1 signaling are found in tumors with and without co-existent RAS mutations. This original research was led by scientists at Revolution Medicines and conducted in collaboration with the Neal Rosen Lab at the Memorial Sloan Kettering Cancer Center, as well as researchers from McGill University and The Karolinska Institute.

    Revolution Medicines recently advanced RMC-5552, the company's investigational first-in-class bi-steric mTORC1 inhibitor, into clinical development. RMC-5552 is a potent and selective inhibitor of mTORC1 that is being developed as an anti-cancer therapeutic for patients with solid tumors that exhibit hyperactivation of the mTOR pathway, including certain RAS-addicted cancers. The compound is designed to inhibit mTORC1 and thereby protect the natural tumor suppressor activity of 4EBP1, without the undesirable inhibition of mTORC2. RMC-5552 has demonstrated anti-tumor activity in a wide variety of preclinical models. Revolution Medicines has also reported in vivo data demonstrating that RMC-5552 may increase anti-tumor activity in combination with KRASG12C inhibitors in lung and colon cancers harboring both KRAS mutations and co-mutations in the mTOR signaling pathway that can cause resistance to single agent RAS inhibition.  

    "The paper published in Nature Chemical Biology highlights the therapeutic promise of mTORC1-selective bi-steric inhibitors in the treatment of tumors driven by the genomic activation of the mTORC1 pathway. Specifically, the published research details the manner in which these selective inhibitors of mTORC1 potently inhibit tumor growth while causing less toxicity and receptor reactivation, a potential mechanism of adaptive resistance, as compared to conventional mTOR inhibitors," said Steve Kelsey, M.D., president, research and development at Revolution Medicines. "These study results offer compelling rationale for our recently initiated clinical development program for RMC-5552."

    The company recently initiated a multicenter, open-label dose-escalation and dose-expansion Phase 1/1b clinical trial designed to evaluate the safety, tolerability, preliminary efficacy and pharmacokinetics of RMC-5552 in patients with advanced relapsed/refractory solid tumors. Results from this study will inform identification of the maximum tolerated dose (MTD) and selection of recommended Phase 2 dose and schedule (RP2DS) for further evaluation of the compound.

    The paper published in Nature Chemical Biology is titled, "Selective inhibitors of mTORC1 activate 4EBP1 and suppress tumor growth," and can be accessed at: https://www.nature.com/articles/s41589-021-00813-7

    About mTORC1

    The mTOR Complex 1 (mTORC1) is a central node within the mTOR signaling pathway and a critical regulator of metabolism, growth and proliferation in cancer cells.  Oncogenic mutations of genes encoding proteins that lie upstream of mTOR, including PI3K, PTEN, and STK11, can drive abnormal activation of mTORC1 and subsequent inactivation of the tumor suppressor 4EBP1.  Selective inhibition of mTORC1 to reactivate 4EBP1 is a potential therapeutic strategy for patients with tumors bearing such mutations.  These mutations are often co-occurring with RAS mutations in RAS-addicted tumors and combinations of mTORC1 and RAS-targeted inhibitors may be of particular benefit in this context.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291 and RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the tolerability and potential efficacy of Revolution Medicines' clinical candidates, including RMC-5552; the outcome of the company's clinical trials, including the Phase 1/1b study of RMC-5552; identification of the MTD and selection of a RP2DS for RMC-5552; the strategy of developing drug combinations that can achieve maximum clinical benefit; and the potential increase in anti-tumor activity when combining RMC-5552 with other agents, including KRASG12C inhibitors. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



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  6. REDWOOD CITY, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that it will host a Science Talk webcast to highlight learnings from recent preclinical and clinical studies of RAS inhibitors. The webcast, to be held at 4:00 p.m. Eastern on June 17, 2021, will provide a perspective on emerging insights about RAS-addicted cancers, including the implications of common drug resistance mechanisms on targeted treatment strategies.   The presentation will be led by Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, and Steve Kelsey, M.D., president, research…

    REDWOOD CITY, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that it will host a Science Talk webcast to highlight learnings from recent preclinical and clinical studies of RAS inhibitors. The webcast, to be held at 4:00 p.m. Eastern on June 17, 2021, will provide a perspective on emerging insights about RAS-addicted cancers, including the implications of common drug resistance mechanisms on targeted treatment strategies.   The presentation will be led by Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, and Steve Kelsey, M.D., president, research and development.

    During the event, Drs. Kelsey and Goldsmith will discuss scientific data from the field reported in the first half of 2021 relating to oncogenic RAS signaling, identification of cellular mechanisms that drive resistance to targeted RAS inhibitors, and treatment advances, limitations and new opportunities. Material will include clinical and preclinical findings reported by the company and other investigators at the 2021 American Association for Cancer Research (AACR) Virtual Annual Meeting, published work, and additional unreported observations regarding compounds from its RAS(ON) Inhibitor and RAS Companion Inhibitor portfolios.

       

    Event Details:

    Title:Emerging Insights about RAS-Addicted Cancers, Drug Resistance and Treatment Strategies
    Date:    June 17, 2021
    Time:4:00 p.m. Eastern

    To participate in the live webcast, please visit the "Events & Presentations" page of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. A replay of the webcast will be available for at least 14 days following the event.  

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding treatment strategies for RAS-addicted cancers, mechanisms that drive resistance to targeted RAS inhibitors and the characteristics of compounds from Revolution Medicines' RAS(ON) Inhibitor and RAS Companion Inhibitor portfolios. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



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    Stephanie Diaz
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    415-675-7402
    tbrons@vidasp.com

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  7. REDWOOD CITY, Calif., June 02, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Goldman Sachs 42nd Annual Global Healthcare Conference. Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines, will be the featured participant in a fireside chat at the event.

    Details of these company's participation are as follows:

    • Goldman Sachs 42nd Annual Global Healthcare Conference
      Conference Date: June 8-11, 2021
      Fireside Chat Time/Date: 3:00 p.m. Eastern on Wednesday, June 9, 2021
      Format: Virtual conference…

    REDWOOD CITY, Calif., June 02, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Goldman Sachs 42nd Annual Global Healthcare Conference. Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines, will be the featured participant in a fireside chat at the event.

    Details of these company's participation are as follows:

    • Goldman Sachs 42nd Annual Global Healthcare Conference

      Conference Date: June 8-11, 2021

      Fireside Chat Time/Date: 3:00 p.m. Eastern on Wednesday, June 9, 2021

      Format: Virtual conference; webcast available

    To access the live webcast of the fireside chat, please visit the "Events & Presentations" page of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. A replay of the webcast will be available on the "Events & Presentations" page of the Revolution Medicines' website for at least 14 days following the conference.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.



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    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
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    Vida Strategic Partners
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    415-675-7402
    tbrons@vidasp.com

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  8. REDWOOD CITY, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Cowen 2nd Annual Virtual Oncology Innovation Summit. Steve Kelsey, M.D., president, research and development, will be the featured speaker in a fireside chat at the event.

    Details of the company's participation are as follows:

    • Cowen 2nd Annual Virtual Oncology Innovation Summit
      Conference Date: May 20-21, 2021
      Fireside Chat Time/Date: 12:40 p.m. Eastern on Friday, May 21, 2021
      Format: Virtual conference

    About Revolution Medicines, Inc.

    Revolution Medicines…

    REDWOOD CITY, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Cowen 2nd Annual Virtual Oncology Innovation Summit. Steve Kelsey, M.D., president, research and development, will be the featured speaker in a fireside chat at the event.

    Details of the company's participation are as follows:

    • Cowen 2nd Annual Virtual Oncology Innovation Summit

      Conference Date: May 20-21, 2021

      Fireside Chat Time/Date: 12:40 p.m. Eastern on Friday, May 21, 2021

      Format: Virtual conference

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.



    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  9. Multiple AACR Presentations Highlight Potential Advantages of RAS(ON) Inhibitors; 
    Scientific Publication is First to Demonstrate Anti-Drug Resistance Features

    Continued Advancement and Enrollment of Multiple RMC-4630 RAS Companion Inhibitor Combination Studies; Initiated Clinical Evaluation of RMC-5552

    Successfully Completed Financing Raising $281 Million in Net Proceeds

    REDWOOD CITY, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced its financial results for the first quarter of 2021 and provided a corporate update.

    "Revolution Medicines…

    Multiple AACR Presentations Highlight Potential Advantages of RAS(ON) Inhibitors; 

    Scientific Publication is First to Demonstrate Anti-Drug Resistance Features

    Continued Advancement and Enrollment of Multiple RMC-4630 RAS Companion Inhibitor Combination Studies; Initiated Clinical Evaluation of RMC-5552

    Successfully Completed Financing Raising $281 Million in Net Proceeds

    REDWOOD CITY, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, today announced its financial results for the first quarter of 2021 and provided a corporate update.

    "Revolution Medicines has made excellent progress reinforcing our belief that the company's cohesive portfolio of innovative clinical and preclinical assets will power compelling rational, mechanism-based combination treatments that provide benefit to patients with RAS-addicted cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.

    "We presented data at the AACR Annual Meeting 2021 demonstrating the attractive preclinical profiles of two pioneering RAS(ON) inhibitor candidates that are currently undergoing IND-enabling development, RMC-6291 (KRASG12C) and RMC-6236 (RASMULTI). These first examples of RAS(ON) inhibitors intended for human use exhibit differentiated breadth, depth and durability of anti-tumor effects in human cancer models. Further, an important recent scientific paper described multiple genetic mutations causing clinical resistance to leading KRASG12C(OFF) inhibitors but with preserved sensitivity to RAS(ON) inhibitors from our collection. We believe that RMC-6291, RMC-6236 and additional emerging inhibitors in our portfolio hold great promise for use in treating, and overcoming resistance in, patients with a diverse range of RAS-addicted cancers lacking adequate targeted therapeutics.

    "The company also continues broad-based initiatives with our RAS Companion Inhibitor portfolio. For RMC-4630 (SHP2), combination approaches with multiple direct RAS inhibitors remain a high-priority treatment strategy supported by the clinical and preclinical anti-tumor activity, resistance and safety data observed to date across these classes of targeted agents. Amgen's CodeBreaK 101c study evaluating the combination with sotorasib has demonstrated acceptable tolerability, has cleared early dose levels and is currently dosing patients at the target dose of RMC-4630 (200 mg on a Day 1/Day 2 weekly schedule). We also continue evaluating a second, distinct group of treatment strategies for RMC-4630 in combination with established drugs that potently suppress the RAS signaling pathway, including cobimetinib, a MEK inhibitor and osimertinib, an EGFR inhibitor, to determine whether enhanced pathway inhibition from these drug combinations delivers sufficient anti-tumor activity and tolerability to confer clinical benefit.

    "We are also pleased to have begun clinical evaluation of RMC-5552 (mTORC1/4EBP1) in a monotherapy dose-escalation study. In aggregate, these projects with our RAS Companion Inhibitor portfolio, including continued IND-enabling development of RMC-5845 (SOS1), support our long-term goal of combining these assets with RAS(ON) Inhibitors on behalf of patients selected by molecular tumor features.

    "To support the expanded and advancing pipeline, Revolution Medicines successfully completed a financing in the first quarter that helped position the company with a strong balance sheet."  

    R&D Highlights

    RAS(ON) Inhibitors – Revolution Medicines continues maturing its first-in-class RAS(ON) Inhibitor platform, including an expansive collection of tri-complex inhibitors targeting diverse oncogenic RAS variants through highly differentiated chemical and pharmacologic profiles.

    • Potential advantages of RAS(ON) Inhibitors – A recent paper in Cancer Discovery by Dr. Ryan Corcoran's team at the Massachusetts General Hospital/Harvard Medical School identified multiple resistance mutations that bypass the effects of three first-generation KRASG12C(OFF) inhibitors. Importantly, the researchers found that a KRASG12C-selective RAS(ON) tool compound from the Revolution Medicines portfolio, RM-018, retained potent binding and inhibitory activity against tumor cells harboring an on-target mutation that conferred resistance to all three KRASG12C(OFF) inhibitors tested.



    • RMC-6291 (KRASG12C)



      • RMC-6291 is a first-in-class, potent, oral and selective tri-complex inhibitor of KRASG12C(ON) and NRASG12C(ON) with an attractive and differentiated preclinical profile designed to address persistent unmet needs for patients with cancers caused by KRASG12C or NRASG12C.

      • Data presented at the American Association for Cancer Research (AACR) Annual Meeting 2021 showed superior anti-tumor activity for RMC-6291 in preclinical lung and colorectal cancer models driven by a KRASG12C mutation.
      • The company remains on track to submit an investigational new drug (IND) application in the first half of 2022.



    • RMC-6236 (RASMULTI)



      • RMC-6236 is a first-in-class, potent, oral RAS-selective tri-complex, RASMULTI(ON) inhibitor with an attractive preclinical profile and is designed to treat cancers caused by multiple RAS variants for which no targeted treatment is currently available.

      • Data presented at the recent AACR meeting demonstrated deep anti-tumor activity of RMC-6236 in preclinical lung, colorectal and pancreatic cancer models driven by various mutations that are common drivers of human cancers, including KRASG12V and KRASG12D.
      • The company remains on track to submit an IND in the first half of 2022.



    • Continued expansion of other RAS(ON) inhibitor programs – Revolution Medicines continues to progress an expanding portfolio of potent, cell-active RAS(ON) Inhibitors with the potential to target RAS variants driving the vast majority of RAS-addicted cancers. In particular, the company's KRASG12D- and KRASG13C-selective programs continue to advance in lead optimization. The company remains on track to nominate a third development candidate from its RAS(ON) inhibitor portfolio in the second half of 2021.

    RAS Companion Inhibitors – Revolution Medicines continues to advance and expand multiple clinical studies both as monotherapy and in targeted drug combinations designed to achieve maximum clinical benefit.

    • RMC-4630 (SHP2 Inhibitor) – RMC-4630 is a potent, oral, selective inhibitor of the SHP2 protein, a central node in the RAS signaling pathway. Its development is being advanced in partnership with, and is primarily funded by, Sanofi, both as monotherapy and in several current and planned combinations.  

          RMC-4630 and KRASG12C inhibitor sotorasib

    • To date, the available data from the ongoing Amgen-sponsored CodeBreaK 101c study of the RMC-4630 and sotorasib combination has demonstrated acceptable tolerability and cleared early dose levels.
    • The CodeBreaK 101c study is currently dosing patients at the target dose of RMC-4630 (200 mg on a Day 1 / Day 2 weekly schedule, the full dose used by the company in monotherapy) in combination with sotorasib. The company looks forward to selection of a combination dose for this study in the second half of 2021.

          RMC-4630 and AstraZeneca KRASG12C inhibitor

    • AstraZeneca plans to evaluate RMC-4630 in combination with an emerging asset targeting KRASG12C(OFF) from AstraZeneca's portfolio

          RMC-4630 and MEK inhibitor cobimetinib (Cotellic®)

    • Phase 1b/2 study of this combination is ongoing, including in expansion cohorts of patients with KRASMUTANT colorectal cancer at the recommended Phase 2 dose and schedule (RP2DS) for this combination. The company continues to expect preliminary safety and clinical activity data from this expansion study in 2022.

          RMC-4630 and EGFR inhibitor osimertinib (Tagrisso®)

    • Dosing and enrollment continue in the Phase 1b study of this combination and the company continues to expect initial tolerability and pharmacokinetic (PK) data in the second half of 2021.

          RMC-4630 and PD-1 inhibitor pembrolizumab (Keytruda®)

    • Sanofi-sponsored Phase 1 study of this combination continues. The RP2DS for this combination is expected in the first half of 2021 and expansion cohorts evaluating this combination in patients with non-small cell lung cancer (NSCLC) are planned.

          RMC-4630 monotherapy

    • Presented dose escalation activity data set from the ongoing Phase 1 study at the recent AACR meeting, showing anti-tumor activity and safety and tolerability that is consistent with on-pathway inhibition, delivering on a corporate milestone.
    • Data presented at AACR meeting showed reduction of variant allele frequency in circulating tumor DNA (ctDNA) samples from patients treated with RMC-4630 for cancers carrying KRASG12C or NF1LOF, further validating the expected clinical mechanism of action of RMC-4630.
    • RMC-5552 (mTORC1/4EBP1 Inhibitor) – RMC-5552 is a potent, selective bi-steric inhibitor of mTORC1 that suppresses phosphorylation and inactivation of 4EBP1.



      • Dosing and enrollment are underway in the recently initiated Phase 1 monotherapy dose-escalation study, delivering on a corporate milestone. The company continues to expect initial safety, PK and single agent activity data in 2022.

      • Preclinical data presented at the recent AACR meeting demonstrated that bi-steric mTORC1-selective inhibitors drive significant anti-tumor activity as monotherapy and in combination with KRASG12C inhibitors in genetically-defined preclinical models of human cancers.
      • The company intends to evaluate RMC-5552 in combination with RAS inhibitors for the treatment of tumors driven by co-occurring RAS mutations and genomic activation of the mTORC1 pathway.



    • RMC-5845 (SOS1 Inhibitor) – RMC-5845 is a potent, selective, oral inhibitor of SOS1, a major switch in the cycling of RAS(OFF) to RAS(ON).



      • The company remains on track to submit an IND in the second half of 2021 to enable an initial monotherapy dose escalation study and intends to evaluate RMC-5845 for treatment of certain genetically defined RAS-dependent cancers.

    Corporate Highlights

    • Completed upsized financing to strengthen balance sheet and support advancement of expanding pipeline  Public offering of common stock in February 2021 raised net proceeds of $281 million, enabling the company to advance its pipeline, including RAS(ON) Inhibitors RMC-6291 and RMC-6236, through early Phase 1 signal-seeking clinical studies.



    • Flavia Borellini, Ph.D. joins existing board members Elizabeth McKee Anderson and Neil Exter as Class I director nominee Dr. Borellini has more than 25 years of executive management experience in the pharmaceutical and biotechnology industry, with a particular focus on global development of targeted oncology drugs, from preclinical to commercial stage.

    First Quarter 2021 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $681.6 million as of March 31, 2021, compared to $440.7 million as of December 31, 2020. The increase was primarily due to proceeds from the company's equity public offering in February 2021.

    Revenue: Total revenue, consisting of revenue from the company's collaboration agreement with Sanofi, was $10.1 million for the quarter ended March 31, 2021, compared to $11.5 million for the quarter ended March 31, 2020. The decrease was due to lower reimbursed research and development services for RMC-4630 resulting from lower manufacturing costs.

    R&D Expenses: Research and development expenses were $40.9 million for the quarter ended March 31, 2021, compared to $27.5 million for the quarter ended March 31, 2020. The increase was primarily due to an increase in research expenses associated with the company's pre-clinical research portfolio, an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation.

    G&A Expenses: General and administrative expenses were $6.7 million for the quarter ended March 31, 2021, compared to $5.2 million for the quarter ended March 31, 2020. The increase was primarily due to an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation.

    Net Loss: Net loss was $37.2 million for the quarter ended March 31, 2021, compared to net loss of $19.5 million for the quarter ended March 31, 2020.

    2021 Financial Guidance

    Revolution Medicines continues to expect full year 2021 GAAP net loss to be between $170 million and $190 million, which includes estimated non-cash stock-based compensation expense of $20 million to $25 million.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co.   Tagrisso® is a registered trademark of the AstraZeneca group of companies. Cotellic® is a registered trademark of Genentech, Inc. (a member of the Roche Group).

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the company's development plans and timelines and its ability to advance its portfolio and R&D pipeline; the company's belief that its assets will power compelling rational, mechanism-based combination treatments that provide benefit to patients with RAS-addicted cancers; dosing and enrollment in the company's clinical trials and the tolerability and potential efficacy of the company's candidates being studied; the ability of the company's therapies to inhibit frontier targets in RAS-addicted cancers; the company's plans to advance the IND-enabling development of RMC-6291, RMC-6236 and RMC-5845; results from the company's single-agent and combination studies of RMC-4630; the company's plans to study RMC-5552 in combination with RAS inhibitors; the expected timing of results from the company's Phase 1 study of RMC-5552; the potential advantages and effectiveness of the company's preclinical candidates, including its RAS(ON) Inhibitors; the company's plans to nominate a third development candidate from its RAS(ON) inhibitor portfolio; and the company's plans to release data related to its RAS Companion Inhibitors. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10Q filed with the Securities and Exchange Commission on May 10, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    REVOLUTION MEDICINES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

      Three Months Ended March 31, 
      2021  2020 
    Revenue:        
    Collaboration revenue $10,131  $11,546 
    Total revenue  10,131   11,546 
    Operating expenses:        
    Research and development  40,858   27,457 
    General and administrative  6,670   5,171 
    Total operating expenses  47,528   32,628 
    Loss from operations  (37,397)  (21,082)
    Other income (expense), net:        
    Interest income  233   909 
    Interest expense  (12)  (21)
    Total other income (expense), net  221   888 
    Loss before income taxes  (37,176)  (20,194)
    Benefit from income taxes     675 
    Net loss $(37,176) $(19,519)
    Redeemable convertible preferred stock dividends - undeclared and

    cumulative
         (2,219)
    Net loss attributable to common stockholders $(37,176) $(21,738)
    Net loss per share attributable to common stockholders - basic and diluted $(0.53) $(0.74)
    Weighted-average common shares used to compute net loss per share,

    basic and diluted
      70,420,076   29,297,698 





    REVOLUTION MEDICINES, INC.


    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, unaudited)

      March 31,  December 31, 
      2021  2020 
             
    Cash, cash equivalents and marketable securities $681,593  $440,741 
    Working capital (1)  653,646   406,946 
    Total assets  811,651   567,401 
    Deferred revenue  18,099   20,592 
    Total liabilities  89,071   92,725 
    Total stockholders' equity (deficit)  722,580   474,676 

          (1)   Working capital is defined as current assets less current liabilities.



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  10. REDWOOD CITY, Calif., May 03, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today highlights the nomination of a slate of three individuals for election/reelection to its board of directors. Flavia Borellini, Ph.D. has been nominated by the company's board of directors for election as a first-time Class I director, joining current Class I directors Elizabeth McKee Anderson and Neil Exter, who were nominated for reelection. These nominees will be voted on at the June 22, 2021 Revolution Medicines annual meeting of stockholders.

    Dr. Borellini has more than 25 years of executive management…

    REDWOOD CITY, Calif., May 03, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today highlights the nomination of a slate of three individuals for election/reelection to its board of directors. Flavia Borellini, Ph.D. has been nominated by the company's board of directors for election as a first-time Class I director, joining current Class I directors Elizabeth McKee Anderson and Neil Exter, who were nominated for reelection. These nominees will be voted on at the June 22, 2021 Revolution Medicines annual meeting of stockholders.

    Dr. Borellini has more than 25 years of executive management experience in the pharmaceutical and biotechnology industry, with a particular focus on global development of targeted oncology drugs, from preclinical to commercial stage. She is the former chief executive officer for Acerta Pharma, where she oversaw the successful development and approval of Calquence® (acalabrutinib), a selective Bruton's tyrosine kinase (BTK) inhibitor, for the treatment of mantle cell lymphoma. During her career, Dr. Borellini has also held key senior level positions within AstraZeneca, most recently global franchise head, hematology, with responsibility for the hematology portfolio in the company's oncology business unit. While at AstraZeneca, she led the global development, approval, and commercialization of Tagrisso® (osimertinib), a first-in-class epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor for the treatment of non-small cell lung cancer (NSCLC) caused by the T790M mutation.

    Prior to her tenure with AstraZeneca, Dr. Borellini spent nearly seven years at Genentech, a member of the Roche Group. During this time, she led the global development, approval and launch of Zelboraf® (vemurafenib), a first-in-class BRAF inhibitor for the treatment of melanoma caused by the V600E BRAF mutation. Dr. Borellini also served as the program leader for Herceptin® (trastuzumab), a targeted treatment for HER2 receptor positive cancers, including breast cancer, and Tarceva® (erlotinib), an EGFR tyrosine kinase inhibitor for the treatment of NSCLC and pancreatic cancer.

    Ms. Anderson, a member of the Revolution Medicines board of directors since 2015, previously held several leadership positions at Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, which included responsibility for global therapeutic area strategy and portfolio assets for immunology and oncology. She played key roles in the launch or lifecycle management of several brands including Stelara®, Simponi®, Velcade®, and Remicade®. Ms. Anderson also served as the worldwide vice president and commercial leader in the infectious diseases and vaccines global commercial strategy organization at Janssen Pharmaceuticals.

    Mr. Exter, a member of Revolution Medicines board from 2014 to 2016 and since 2019, has served as a partner of Third Rock Ventures for nearly 15 years. In this role he plays an integral role in the formation, development and business strategy for Third Rock's portfolio companies and has served in key leadership roles in several portfolio companies. Prior to joining Third Rock, Mr. Exter was chief business officer of Alantos Pharmaceuticals prior to its acquisition by Amgen, and earlier served as vice president for Millennium Pharmaceuticals, where he directed in-licensing and M&A. 

    In related news, Peter Svennilson will no longer serve as a director after completion of his term at the company's annual meeting of stockholders.

    "As a pioneer in the field of precision oncology with extensive experience in the biotechnology and biopharmaceutical industries and service as a director for other companies, Dr. Borellini would be an excellent addition to our board of directors," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "We are excited about the nomination of all three of these outstanding individuals who bring a mix of skills, experiences and backgrounds to our board. We look forward to working with each of them to help guide our mission to develop targeted oncology therapies on behalf of patients battling RAS-addicted cancers. We would also like to thank Peter for his contributions during his tenure on the board."

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291 and RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Important Additional Information and Where to Find It

    Revolution Medicines, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from stockholders in connection with Revolution Medicines' 2021 annual meeting of stockholders (the "2021 Annual Meeting"). Revolution Medicines filed with the SEC and made available to its stockholders a proxy statement in connection with such solicitation on April 28, 2021. REVOLUTION MEDICINES STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT (INCLUDING ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

    Information regarding the names of Revolution Medicines' directors and executive officers are set forth in Revolution Medicines' proxy statement for the 2021 Annual Meeting, which documents are available at Revolution Medicines' investor relations website at https://ir.revmed.com/investor-relations. Information regarding the special interests of such participants, if any, in the matters to be voted on at the 2021 Annual Meeting are included in the 2021 proxy statement referred to above. You can obtain free copies of these referenced documents as described below.

    The proxy statement for the 2021 Annual Meeting (and any amendments or supplements thereto) and any other relevant documents and other material filed by Revolution Medicines with the SEC, are available for no charge at the SEC's website at www.sec.gov and at Revolution Medicines' investor relations website at https://ir.revmed.com/investor-relations. Copies may also be obtained free of charge by contacting Revolution Medicines by mail at 700 Saginaw Drive, Redwood City, California 94063, Attn: Secretary, or by telephone at (650) 481-6801.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "mission," "advance," "continue," "will" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to Revolution Medicines' mission to develop targeted oncology therapies on behalf of patients battling RAS-addicted cancers, the director nominees and the outcome of the Revolution Medicines' 2021 Annual Meeting; and other statements that are not historical fact. Because such statements deal with future events and are based on Revolution Medicines's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Revolution Medicines could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, risks and uncertainties associated with the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully enrolling or completing clinical studies, the risk that the results obtained to date in Revolution Medicines' clinical trials may not be indicative of results obtained in subsequent pivotal or other late-stage trials and the risk that ongoing or future clinical studies may not show that Revolution Medicines' product candidates are tolerable and effective; the ongoing COVID-19 pandemic, which has adversely affected, and could materially and adversely affect in the future, Revolution Medicines' business and operations, including Revolution Medicines' clinical trials; the time-consuming and uncertain regulatory approval process; Revolution Medicines' reliance on third-party manufacturers for aldafermin and its other product candidates; the holding of and the results of voting at the 2021 Annual Meeting; the sufficiency of Revolution Medicines' cash resources and need for additional capital; and other risks and uncertainties affecting Revolution Medicines' and its development programs, including those discussed in the section titled "Risk Factors" in Revolution Medicines' annual report on Form 10-K for the year ended December 31, 2020 filed with the United States Securities and Exchange Commission ("SEC") on March 2, 2021 and future filings and reports that Revolution Medicines makes from time to time with the SEC. Except as required by law, Revolution Medicines assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

    Contacts:

    For Investors:

    Vida Strategic Partners

    Stephanie Diaz

    415-675-7401

    sdiaz@vidasp.com

    For Media:

    Vida Strategic Partners

    Tim Brons

    415-675-7402

    tbrons@vidasp.com



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  11. First-in-Class Bi-steric mTORC1 Inhibitor Advances into Clinical Development

    Newly Issued U.S. Patent Further Strengthens RMC-5552 IP Portfolio

    REDWOOD CITY, Calif., April 21, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced dosing of the first patient in a multicenter Phase 1/1b clinical trial evaluating RMC-5552, the company's investigational first-in-class bi-steric mTORC1 inhibitor as a monotherapy. The trial is an open-label dose-escalation and dose-expansion study designed to evaluate the safety, tolerability, preliminary efficacy and pharmacokinetics of RMC-5552…

    First-in-Class Bi-steric mTORC1 Inhibitor Advances into Clinical Development

    Newly Issued U.S. Patent Further Strengthens RMC-5552 IP Portfolio

    REDWOOD CITY, Calif., April 21, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced dosing of the first patient in a multicenter Phase 1/1b clinical trial evaluating RMC-5552, the company's investigational first-in-class bi-steric mTORC1 inhibitor as a monotherapy. The trial is an open-label dose-escalation and dose-expansion study designed to evaluate the safety, tolerability, preliminary efficacy and pharmacokinetics of RMC-5552 in patients with advanced relapsed/refractory solid tumors. Results from this study will inform Revolution Medicines' identification of the maximum tolerated dose (MTD) and selection of recommended Phase 2 dose and schedule (RP2DS) for further evaluation of the compound.

    RMC-5552 is a potent and selective inhibitor of mTORC1 that is being developed as an anticancer therapeutic for patients with solid tumors that have hyperactivation of the mTOR pathway, including certain RAS-addicted cancers. The compound is designed to inhibit mTORC1 and preserve the natural tumor suppressive activity of 4EBP1, without the undesired inhibition of mTORC2. RMC-5552 has demonstrated antitumor activity in a wide variety of preclinical models. Revolution Medicines has also reported in vivo data demonstrating that RMC-5552 may increase antitumor activity in combination with KRASG12C inhibitors in lung and colon cancers harboring KRAS mutations and co-mutations in the mTOR signaling pathway that can cause resistance to single agent RAS inhibition.  

    "The initiation of the RMC-5552 clinical program is the first step in the evaluation of our first-in-class, bi-steric mTORC1 inhibitor as a RAS Companion Inhibitor for the treatment of tumors driven by co-occurring RAS mutations and genomic activation of the mTORC1 pathway, which account for a significant proportion of RAS-addicted cancers," said Steve Kelsey, M.D., president, research and development at Revolution Medicines. "These co-occurring mutations may contribute to resistance to single-agent RAS inhibitors, and the potential to add RMC-5552 to RAS-directed therapies aligns nicely with our strategy of developing rational, biomarker-driven drug combinations that can achieve maximum clinical benefit in patients with RAS-driven cancers. We also look forward to evaluating RMC-5552 in selected indications where mTORC1 is activated independently of RAS."

    New Patent Issuance for RMC-5552 and Related Compounds

    In additional news regarding the RMC-5552 program, Revolution Medicines today announced that the United States Patent and Trademark Office has issued U.S. Patent No. 10,980,889. This patent provides, in part, composition of matter protection for RMC-5552, as well as related compounds in the company's proprietary series of selective mTORC1 inhibitors.

    About mTORC1

    The mTOR Complex 1 (mTORC1) is a central node within the mTOR signaling pathway and a critical regulator of metabolism, growth and proliferation in cancer cells. Oncogenic mutations of genes upstream of mTOR, including PI3 kinase, PTEN, and STK11, can drive abnormal activation of mTORC1 and subsequent inactivation of the tumor suppressor 4EBP1. Selective inhibition of mTORC1 to reactivate 4EBP1 is a potential therapeutic strategy for patients with tumors bearing such mutations. These mutations are often co-occurring with RAS mutations in RAS-addicted tumors and combinations of mTORC1 and RAS-targeted inhibitors may be of particular benefit in this context.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291 and RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the tolerability and potential efficacy of Revolution Medicines' clinical candidates, including RMC-5552; the outcome of the company's clinical trials, including the Phase 1/1b study of RMC-5552; identification of the MTD and selection of a RP2DS for RMC-5552; the strategy of developing drug combinations that can achieve maximum clinical benefit; and Revolution Medicines' plans to evaluate RMC-5552 in selected indications where mTORC1 is activated independently of RAS. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



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  12. REDWOOD CITY, Calif., March 11, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced the company will make six presentations at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2021 being held April 10-15, 2021 in a virtual format.

    Details of the planned presentations are as follows:

    Oral Presentation:

    Title: Anti-tumor activity and tolerability of the SHP2 inhibitor RMC-4630 as a single agent in patients with RAS-addicted solid cancers
    Abstract Number: 
    LB001
    Session: Late-Breaking Minisymposium 1
    Date/Time:  April 10, 2021 at 2:05 p.m. Eastern

    Poster

    REDWOOD CITY, Calif., March 11, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced the company will make six presentations at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2021 being held April 10-15, 2021 in a virtual format.

    Details of the planned presentations are as follows:

    Oral Presentation:

    Title: Anti-tumor activity and tolerability of the SHP2 inhibitor RMC-4630 as a single agent in patients with RAS-addicted solid cancers
    Abstract Number: 

    LB001
    Session: Late-Breaking Minisymposium 1
    Date/Time:  April 10, 2021 at 2:05 p.m. Eastern

    Poster Presentations:

    Title: First-in-class, orally bioavailable KRASG12V(ON) tri-complex inhibitors, as single agents and in combinations, drive profound anti-tumor activity in preclinical models of KRASG12V mutant cancers
    Abstract Number: 1260
    Session: Novel Antitumor Agents
    Date/Time:  April 10, 2021 at 8:30 a.m. Eastern



    Title:  A next generation tri-complex KRASG12C(ON) inhibitor directly targets the active, GTP-bound state of mutant RAS and may overcome resistance to KRASG12C(OFF) inhibition
    Abstract Number: 1261
    Session:  Novel Antitumor Agents
    Date/Time: April 10, 2021 at 8:30 a.m. Eastern



    Title: Discovery of a potent, selective, and orally bioavailable SOS1 inhibitor, RMC-023, an in vivo tool compound that blocks RAS activation via disruption of the RAS-SOS1 interaction
    Abstract Number: 

    1273
    Session: Novel Antitumor Agents
    Date/Time: April 10, 2021 at 8:30 a.m. Eastern



    Title:  Modulation of innate and adaptive immunity in blood and tumor of patients receiving the SHP2 inhibitor RMC-4630
    Abstract Number: LB050
    Session:Immune Response to Therapies
    Date:  April 10, 2021 at 8:30 a.m. Eastern



    Title: Confirmation of target inhibition and anti-tumor activity of the SHP2 inhibitor RMC-4630 via longitudinal analysis of ctDNA in a phase 1 clinical study
    Abstract Number: LB054
    Session: Liquid Biopsies: Circulating DNA
    Date: April 10, 2021 at 8:30 a.m. Eastern

    Additional information on the AACR Annual Meeting 2021 is available through the AACR website at: https://www.aacr.org/meeting/aacr-annual-meeting-2021/

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' progress across its R&D pipeline of RAS(ON) Inhibitors and RAS Companion Inhibitors. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
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    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  13. REDWOOD CITY, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in two upcoming investor conferences. Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines, will deliver a corporate presentation at the Oppenheimer 31st Annual Healthcare Conference and be the featured speaker in a fireside chat at the J.P. Morgan 10th Annual Napa Valley Forum.

    Details of these events are as follows:

    • Oppenheimer 31st Annual Healthcare Conference
      Conference Date: March 16-18, 2021
      Presentation Time/Date: 1:10 – 1:40…

    REDWOOD CITY, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in two upcoming investor conferences. Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines, will deliver a corporate presentation at the Oppenheimer 31st Annual Healthcare Conference and be the featured speaker in a fireside chat at the J.P. Morgan 10th Annual Napa Valley Forum.

    Details of these events are as follows:

    • Oppenheimer 31st Annual Healthcare Conference

      Conference Date: March 16-18, 2021

      Presentation Time/Date: 1:10 – 1:40 p.m. Eastern on Tuesday, March 16, 2021

      Format: Virtual conference

    • J.P. Morgan 10th Annual Napa Valley Forum

      Conference Date: March 29-31, 2021

      Fireside Chat Time/Date: 2:00 – 2:45 p.m. Eastern on Monday, March 29, 2021

      Format: Virtual conference

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

     



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    For Investors:
    Vida Strategic Partners
    Stephanie Diaz
    415-675-7401
    sdiaz@vidasp.com
    
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    415-675-7402
    tbrons@vidasp.com

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  14. Advanced and Expanded Portfolio of RAS(ON) Inhibitors; Two Assets Entered IND-Enabling Development

    Continued Progress in Development of RAS Companion Inhibitors to Support Targeted Combination Therapies

    Strengthened Balance Sheet – Completed Financing Raising $281 Million in Net Proceeds

    REDWOOD CITY, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the fourth quarter and year ended December 31, 2020, and provided a corporate update.

    "Revolution Medicines has achieved multiple significant milestones, furthering the company's…

    Advanced and Expanded Portfolio of RAS(ON) Inhibitors; Two Assets Entered IND-Enabling Development

    Continued Progress in Development of RAS Companion Inhibitors to Support Targeted Combination Therapies

    Strengthened Balance Sheet – Completed Financing Raising $281 Million in Net Proceeds

    REDWOOD CITY, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the fourth quarter and year ended December 31, 2020, and provided a corporate update.

    "Revolution Medicines has achieved multiple significant milestones, furthering the company's position as a leading precision oncology company dedicated to the development of innovative targeted medicines and treatment regimens to address significant unmet needs for patients with RAS-addicted cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.

    "Our exceptional team delivered two pioneering RAS(ON) inhibitor development candidates into IND-enabling development, RMC-6291 and RMC-6236. RMC-6291 targets the oncogenic KRASG12C(ON) variant through a highly differentiated anti-tumor profile. RMC-6236 uniquely targets numerous RAS(ON) variants responsible for many cancers. We believe these two development candidates hold great promise for potential use in treating patients with a diverse range of RAS-addicted cancers, and we are actively advancing both toward the clinic.

    "The company has also made great progress with our RAS Companion Inhibitor portfolio. Our most advanced candidate RMC-4630, a SHP2 inhibitor, is being evaluated in multiple studies to position it as a backbone for targeted combination therapies. We received FDA clearance to begin clinical evaluation of RMC-5552, a potent mTORC1-selective inhibitor, and plan to initiate a monotherapy dose-escalation study imminently. Additionally, we have advanced RMC-5845, our potent, selective, oral inhibitor of SOS1, a major switch in the cycling of RAS(OFF) to RAS(ON), into IND-enabling development.

    "To support our expanded and advancing pipeline of development programs, Revolution Medicines recently completed an upsized financing, raising net proceeds of $281 million. We have made tremendous progress as a company and believe that our cohesive portfolio of innovative clinical and preclinical assets will permit rational, mechanism-based combinations and position Revolution Medicines to fulfill our mission."

    R&D Highlights

    RAS(ON) Inhibitors – Revolution Medicines continues maturing its first-in-class RAS(ON) platform, introducing an expansive collection of tri-complex inhibitors targeting diverse oncogenic RAS variants through highly differentiated chemical and pharmacologic profiles.

    • Pioneering RAS(ON) assets, RMC-6291 (KRASG12C) and RMC-6236 (RASMULTI), enter IND-enabling development

    ○ RMC-6291 is a first-in-class, potent, oral and selective tri-complex inhibitor of KRASG12C(ON) and NRASG12C(ON) that has demonstrated deep and sustained anti-tumor activity in preclinical lung cancer models driven by a KRASG12C mutation. The company expects to submit an investigational new drug application (IND) for RMC-6291 in the first half of 2022.

    ○ RMC-6236 is a first-in-class, potent, oral RAS-selective tri-complex, RASMULTI(ON) inhibitor that has demonstrated pronounced anti-tumor activity in preclinical models of human lung, colorectal and pancreatic cancers caused by multiple RAS variants for which no targeted treatment is currently available. The company expects to submit an IND for RMC-6236 in the first half of 2022.

    • Continued expansion of other RAS(ON) inhibitor programs Revolution Medicines continues to progress an expanding portfolio of potent, cell-active RAS(ON) inhibitors with the potential to target RAS variants driving the vast majority of RAS-addicted cancers. In particular, the company's KRASG12D- and KRASG13C-selective programs continue to advance in lead optimization. The company expects to nominate a third development candidate from its RAS(ON) inhibitor portfolio in the second half of 2021.

    RAS Companion Inhibitors – Revolution Medicines continues to advance and expand multiple clinical studies both as monotherapy and in targeted drug combinations designed to achieve maximum clinical benefit.

    • RMC-4630 (SHP2 Inhibitor) – RMC-4630 is a potent, oral, selective inhibitor of the SHP2 protein, a central node in the RAS signaling pathway. Its development is being advanced in partnership with, and is primarily funded by, Sanofi.

    ○ RMC-4630 monotherapy has shown initial clinical anti-tumor activity in multiple cancer genotypes. The company has initiated an expansion cohort at the single agent recommended Phase 2 dose and schedule (RP2DS). The company expects to disclose a safety data set from the dose escalation portion of this trial in the first half of 2021.

    ○ RMC-4630 in combination with cobimetinib (Cotellic®) has shown initial clinical activity in patients with colorectal cancer driven by KRAS mutations. The company has initiated expansion cohorts evaluating patients with KRASMUTANT colorectal cancer at the RP2DS for this combination. The company expects preliminary safety and clinical activity data from this expansion study in 2022.

    ○ Studies evaluating RMC-4630 in combination with multiple inhibitors continue and are expanding.

    ▪ Dosing and enrollment continue in the Amgen-sponsored Phase 1 study of RMC-4630 in combination with Amgen's KRASG12C(OFF) inhibitor, AMG 510, or sotorasib. The company expects a RP2DS will be reached in the first half of 2021 with preliminary activity data in the second half of 2021.

    ▪ Dosing and enrollment continue in the Sanofi-sponsored Phase 1 study of RMC-4630 in combination with the PD-1 inhibitor, pembrozilumab (Keytruda®). The company expects a RP2DS will be reached for this combination in the first half of 2021.

    ▪ Dosing and enrollment continue in the Phase 1 study of RMC-4630 in combination with the EGFR inhibitor, osimertinib (Tagrisso®). The company expects initial tolerability and pharmacokinetic (PK) data from this combination in the second half of 2021.

    ▪ Announced a clinical collaboration agreement with AstraZeneca to study RMC-4630 in combination with an emerging asset targeting KRASG12C from AstraZeneca's portfolio.

    • RMC-5552 (mTORC1/4EBP1 Inhibitor) – RMC-5552 is a potent mTORC1- selective inhibitor.

    ○ Received FDA clearance and initiation of clinical sites for Phase 1 monotherapy dose-escalation study is underway. The company expects to begin dosing patients with monotherapy in the first half of 2021 with initial safety, PK and single agent activity data expected in 2022.

    ○ The company intends to evaluate RMC-5552 in combination therapies with RAS inhibitors for patients with cancers harboring RAS/mTOR signaling co-mutations.

    • RMC-5845 (SOS1 Inhibitor) – RMC-5845 is a potent, selective, oral inhibitor of SOS1, a major switch in the cycling of RAS(OFF) to RAS(ON).

    ○ The company intends to evaluate RMC-5845 for treatment of certain genetically defined RAS-dependent cancers.

    ○ Recently advanced into IND-enabling development. The company expects to submit an IND in the second half of 2021.

    Corporate Highlights

    • Completed upsized financing to strengthen balance sheet and support advancement of expanding pipeline  The company completed a public offering of common stock in February 2021, raising net proceeds of $281 million. The company plans to use these proceeds to advance the company's wholly-owned assets into clinical development.
    • Sanofi collaboration continues to make progress The company's funded collaboration with Sanofi for the clinical development of RMC-4630 continues to advance RMC-4630 as a backbone of combination therapy in RAS-addicted cancers.

    Fourth Quarter and Full Year 2020 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $440.7 million as of December 31, 2020, compared to $122.8 million as of December 31, 2019. The increase was primarily due to proceeds from the company's initial public offering in February 2020 and follow-on equity public offering in July 2020. Proceeds from the recently completed offering are not included in the December 31, 2020 cash, cash equivalents and marketable securities balance.

    Revenue: Total revenue, consisting of revenue from the company's collaboration agreement with Sanofi, was $8.8 million for the quarter ended December 31, 2020, compared to $12.1 million for the quarter ended December 31, 2019. Total revenue was $43.0 million for the year ended December 31, 2020, compared to $50.0 million for the year ended December 31, 2019. The decrease was due to lower reimbursed research and development services for RMC-4630 resulting from lower manufacturing costs. During the quarter and year ended December 31, 2019, the company incurred upfront manufacturing costs related to the supply of RMC-4630 for our clinical trials.

    R&D Expenses: Research and development expenses were $37.0 million for the quarter ended December 31, 2020, compared to $27.5 million for the quarter ended December 31, 2019. Research and development expenses were $132.3 million for the year ended December 31, 2020, compared to $91.8 million for the year ended December 31, 2019. The increase was primarily due to an increase in research expenses associated with the company's pre-clinical research portfolio, an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation, partially offset by lower costs related to RMC-4630.

    G&A Expenses: General and administrative expenses were $5.8 million for the quarter ended December 31, 2020, compared to $4.2 million for the quarter ended December 31, 2019. General and administrative expenses were $21.4 million for the year ended December 31, 2020, compared to $12.4 million for the year ended December 31, 2019. The increase was primarily due to an increase in expenses associated with operating as a public company, an increase in personnel-related expenses related to additional headcount, and an increase in stock-based compensation.

    Net Loss: Net loss was $34.2 million for the quarter ended December 31, 2020, compared to net loss of $14.6 million for the quarter ended December 31, 2019. Net loss was $108.2 million for the year ended December 31, 2020, compared to net loss of $47.7 million for the year ended December 31, 2019.

    2021 Financial Guidance

    Revolution Medicines expects full year 2021 GAAP net loss to be between $170 million and $190 million, which includes estimated non-cash stock-based compensation expense of $20 million to $25 million.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291, RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co. Tagrisso® is a registered trademark of the AstraZeneca group of companies. Cotellic® is a registered trademark of Genentech, Inc. (a member of the Roche Group).

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines and its ability to advance its portfolio and R&D pipeline; dosing and enrollment in the company's clinical trials and the tolerability and potential efficacy of the company's candidates being studied; the ability of the company's therapies to inhibit frontier targets in RAS-addicted cancers; the company's plans to advance the IND-enabling development of RMC-6291, RMC-6236 and RMC-5845; results from the company's single-agent and combination studies of RMC-4630; the company's plans to study RMC-5552 as a monotherapy and in combination with RAS inhibitors; the growth and scope of the company's RAS(ON) Inhibitor platform; the potential advantages and effectiveness of the company's preclinical candidates, including its RAS(ON) Inhibitors; the company's plans to nominate a third development candidate from its family of RAS(ON) Inhibitors; and the company's plans to release data related to its RAS Companion Inhibitors. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



    REVOLUTION MEDICINES, INC.


    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

      Three Months Ended

    December 31,
      Year Ended

    December 31,
     
      2020  2019  2020  2019 
    Revenue:                
    Collaboration revenue, related party $8,751  $12,088  $42,983  $50,041 
    Total revenue  8,751   12,088   42,983   50,041 
    Operating expenses:                
    Research and development  37,006   27,490   132,252   91,755 
    General and administrative  5,825   4,162   21,428   12,406 
    Total operating expenses  42,831   31,652   153,680   104,161 
    Loss from operations  (34,080)  (19,564)  (110,697)  (54,120)
    Other income, net:                
    Interest income  252   618   2,238   2,189 
    Interest and other expense  (14)  (23)  (71)  (106)
    Total other income, net  238   595   2,167   2,083 
    Loss before income taxes  (33,842)  (18,969)  (108,530)  (52,037)
    Benefit from (provision for) income taxes  (362)  4,373   371   4,373 
    Net loss $(34,204) $(14,596) $(108,159) $(47,664)
    Redeemable convertible preferred stock dividends - undeclared and cumulative     (4,251)  (2,219)  (14,238)
    Net loss attributable to common stockholders $(34,204) $(18,847) $(110,378) $(61,902)
    Net loss per share attributable to common stockholders - basic and diluted $(0.52) $(6.48) $(2.01) $(22.33)
    Weighted-average common shares used to compute net loss per share, basic and diluted  66,319,926   2,907,201   54,874,119   2,772,589 



    REVOLUTION MEDICINES, INC.

    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, unaudited)

      December 31,  December 31, 
      2020  2019 
             
    Cash, cash equivalents and marketable securities $440,741  $122,758 
    Working capital (1)  406,946   90,929 
    Total assets  567,401   220,529 
    Deferred revenue  20,592   31,851 
    Total liabilities  92,725   67,994 
    Redeemable convertible preferred stock     305,109 
    Total stockholders' equity (deficit)  474,676   (152,574)

    (1)  Working capital is defined as current assets less current liabilities.



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  15. REDWOOD CITY, Calif., Feb. 18, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Digital RAS-Targeted Drug Discovery Summit being held February 23-25, 2021. Steve Kelsey, M.D., president, research and development, will be a featured speaker during the virtual event and will provide a scientific update on the company's first-in-class RAS(ON) Inhibitor programs.

    Revolution Medicines recently announced the entry of two RAS(ON) Inhibitor programs into IND-enabling development: RMC-6291, a potent, oral and selective tri-complex inhibitor…

    REDWOOD CITY, Calif., Feb. 18, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming Digital RAS-Targeted Drug Discovery Summit being held February 23-25, 2021. Steve Kelsey, M.D., president, research and development, will be a featured speaker during the virtual event and will provide a scientific update on the company's first-in-class RAS(ON) Inhibitor programs.

    Revolution Medicines recently announced the entry of two RAS(ON) Inhibitor programs into IND-enabling development: RMC-6291, a potent, oral and selective tri-complex inhibitor of KRASG12C(ON); and RMC-6236 a potent, oral and RAS-selective tri-complex KRASMULTI(ON) inhibitor.

    Details of Revolution Medicines' participation in the RAS-Targeted Drug Development Summit are as follows:

    Presentation:

    Title:Drugging the RAS(ON) Form of Diverse Oncogenic RAS Mutations
    Presenter:Steve Kelsey, M.D., president, research and development
    Date:Thursday, February 25, 2021
    Time:10:30 a.m. Eastern

    Panel Discussion:

    Title:Mechanisms of Resistance for Combination Therapies
    Participant:Steve Kelsey, M.D., president, research and development
    Date:Thursday, February 25, 2021
    Time:11:00 a.m. Eastern

    Additional information on the Digital RAS-Targeted Drug Discovery Summit is available through the conference website at https://ras-drugdiscovery.com/.

    Revolution Medicines also today announced that the company will participate in three upcoming investor conferences. Details of these events are as follows:

    • 10th Annual SVB Leerink Global Healthcare Conference

      Fireside chat with Mark A. Goldsmith, M.D., Ph.D., CEO and chairman

      Conference date: February 22-26, 2021

      Fireside chat time: 1:40 – 2:10 p.m. Eastern on February 25, 2021

      Format: Virtual conference; webcast available
    • 41st Annual Cowen Healthcare Conference

      Fireside chat with Mark A. Goldsmith, M.D., Ph.D., CEO and chairman

      Conference dates: March 1-4, 2021

      Fireside chat time: 10:20 – 10:50 a.m. Eastern on March 3, 2021

      Format: Virtual conference; webcast available
    • HC Wainwright Global Life Science Conference

      Corporate presentation delivered by Mark A. Goldsmith, M.D., Ph.D., CEO and chairman

      Conference dates: March 9-10, 2021

      Presentation time: 7:00 a.m. Eastern on March 9, 2021

      Format: Virtual conference; webcast available

    To access the live webcasts of the fireside chats and corporate presentation at these investor conferences, please visit the "Events & Presentations" page within the Investors section of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. Additionally, replays of the webcasts will be available on the "Events & Presentations" page of the Revolution Medicines' website for at least 14 days following the conference.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors in development include RMC-6291 and RMC-6236, and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in development include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines and the company's ability to advance its portfolio and R&D pipeline, including its RAS(ON) Inhibitor programs that are in IND-enabling development. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Registration Statement on Form S-1 initially filed with the Securities and Exchange Commission on February 1, 2021, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.





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    For Investors:
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  16. Underwriters' Full Exercise of Option Brings Gross Proceeds to $300 Million

    REDWOOD CITY, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the closing of an underwritten public offering of 6,666,666 shares of common stock at a public offering price of $45.00 per share, before underwriting discounts and commissions. The shares of common stock issued and sold in the offering include 869,565 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering…

    Underwriters' Full Exercise of Option Brings Gross Proceeds to $300 Million

    REDWOOD CITY, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the closing of an underwritten public offering of 6,666,666 shares of common stock at a public offering price of $45.00 per share, before underwriting discounts and commissions. The shares of common stock issued and sold in the offering include 869,565 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, were $300 million. All shares in the offering were offered by Revolution Medicines.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities acted as the joint book-running managers for the offering.

    A registration statement relating to the shares sold in this offering was declared effective by the Securities and Exchange Commission on February 3, 2021. The offering was made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to Revolution Medicines' business in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, the prospectus for this offering filed with the SEC on February 5, 2021, and its future periodic reports to be filed with the SEC.



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  17. REDWOOD CITY, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the pricing of its underwritten public offering of 5,797,101 shares of common stock at a public offering price of $45.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 869,565 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected…

    REDWOOD CITY, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the pricing of its underwritten public offering of 5,797,101 shares of common stock at a public offering price of $45.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 869,565 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected to be approximately $260.9 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on February 8, 2021, subject to customary closing conditions.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the offering.

    A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on February 3, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected completion and timing of closing of the public offering. Such forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to Revolution Medicines' business in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, the preliminary prospectus for this offering included as part of the Registration Statement on Form S-1 related to the offering filed with the SEC on February 3, 2021, and its future periodic reports to be filed with the SEC.



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  18. REDWOOD CITY, Calif., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced that it has commenced an underwritten public offering of 4,000,000 shares of common stock. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. The offering is being made only by…

    REDWOOD CITY, Calif., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced that it has commenced an underwritten public offering of 4,000,000 shares of common stock. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding completion, timing and size of the proposed public offering that involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to Revolution Medicines' business in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, the preliminary prospectus for this offering included as part of the Registration Statement on Form S-1 related to the proposed offering filed with the SEC on February 1, 2021, and its future periodic reports to be filed with the SEC.



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  19. REDWOOD CITY, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, will deliver a corporate presentation as part of the 39th Annual J.P. Morgan Healthcare Conference. The conference, which will take place January 11-14, 2021, is being conducted with a virtual format.

    As a centerpiece of the update, Dr. Goldsmith will announce the entry of two first-in-class RAS(ON) Inhibitor programs into IND-enabling development and will discuss the profiles of these development candidates and next steps for…

    REDWOOD CITY, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, will deliver a corporate presentation as part of the 39th Annual J.P. Morgan Healthcare Conference. The conference, which will take place January 11-14, 2021, is being conducted with a virtual format.

    As a centerpiece of the update, Dr. Goldsmith will announce the entry of two first-in-class RAS(ON) Inhibitor programs into IND-enabling development and will discuss the profiles of these development candidates and next steps for advancing them. Dr. Goldsmith will also provide an update on the company's three RAS Companion Inhibitors, including RMC-4630 (SHP2 inhibitor), RMC-5552 (mTORC1-selective inhibitor), and a new member, RMC-5845 (SOS1-selective inhibitor).

    Details of Revolution Medicines' presentation are as follows:

    • 39th Annual J.P. Morgan Healthcare Conference 

      Conference Date: January 11-14, 2021

      Presentation Time/Date: 5:20 p.m. Eastern on Tuesday, January 12, 2021

      Format: Virtual conference; webcast available

    To access the live webcast of the presentation, please visit the "Events & Presentations" page within the Investors section of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. Additionally, a replay of the webcast will be available on the "Events & Presentations" page of the Revolution Medicines' website for at least 14 days following the conference.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors include RMC-6291, RMC-6236 and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors include RMC-4630, RMC-5552, and RMC-5845.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines and the company's ability to advance its portfolio and R&D pipeline, including its RAS(ON) Inhibitor programs that are in IND-enabling development. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



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    For Investors:
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    Stephanie Diaz 
    415-675-7401
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  20. Recommended Phase 2 Dose and Schedule Selected for Further Evaluation of RMC-4630 as Monotherapy and RMC-4630 plus Cobimetinib Combination

    First-in-Class RAS(ON) Inhibitor Programs for Five Targets in Lead Optimization

    REDWOOD CITY, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the third quarter and nine months ended September 30, 2020, and provided a corporate update.

    "Revolution Medicines is a leader in developing innovative medicines and treatment strategies on behalf of patients with RAS-addicted tumors. We are advancing…

    Recommended Phase 2 Dose and Schedule Selected for Further Evaluation of RMC-4630 as Monotherapy and RMC-4630 plus Cobimetinib Combination

    First-in-Class RAS(ON) Inhibitor Programs for Five Targets in Lead Optimization

    REDWOOD CITY, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the third quarter and nine months ended September 30, 2020, and provided a corporate update.

    "Revolution Medicines is a leader in developing innovative medicines and treatment strategies on behalf of patients with RAS-addicted tumors. We are advancing a growing portfolio consisting of both direct RAS(ON) Inhibitors and RAS Companion Inhibitors designed to enable combination approaches, including RMC-4630 targeting SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.

    "In our RAS Companion Inhibitor portfolio, we continue to make important strides with RMC-4630, our clinical stage inhibitor of SHP2.   We selected the recommended Phase 2 dose and schedule (RP2DS) for both our monotherapy trial (RMC-4630-01) and the RMC-4630/cobimetinib (Cotellic®) combination arm of the RMC-4630-02 clinical trial, and each trial will further evaluate the appropriate RP2DS in expansion cohorts of molecularly selected patients. As anticipated, we recently dosed a first patient in a new combination study of RMC-4630 with the third-generation EGFR inhibitor, osimertinib (Tagrisso®). We also entered into a new clinical collaboration with AstraZeneca to study RMC-4630 in combination with an emerging asset targeting KRASG12C from AstraZeneca's portfolio.

    "In addition, we accelerated growth of our RAS(ON) Inhibitor platform, which has produced a collection of potent, cell-active inhibitors of diverse oncogenic RAS variants responsible for the vast majority of RAS-addicted cancers.  Previously, we demonstrated significant anti-tumor effects of a representative potent and oral inhibitor of KRASG12C(ON). During the third quarter we confirmed the broad scope of our platform by demonstrating that representative KRASG12D(ON) inhibitors likewise induced tumor regressions in a preclinical model of human pancreatic cancer harboring the oncogenic KRASG12D mutation.   We have advanced our KRASG12C/NRASG12C(ON), KRASG12D(ON), KRASG13C(ON) and KRASG12V(ON) inhibitor programs into lead optimization."  

    R&D Highlights

    RAS Companion Inhibitors

    • Determined Recommended Phase 2 Dose and Schedule (RP2DS) for single agent RMC-4630 Completed dose escalation and selected 200 mg administered on a Day 1/Day 2 (D1D2) weekly schedule as the RP2DS. The company plans to evaluate single agent RMC-4630 at the RP2DS in an expansion cohort of patients with gynecologic tumors harboring NF1LOF mutations, in addition to a small safety/tolerability cohort representing a broader set of histotypes and RAS pathway genotypes.



    • Determined RP2DS for RMC-4630 in Combination with the MEK Inhibitor, Cobimetinib Completed dose escalation and selected RMC-4630 140 mg and cobimetinib 40 mg administered on a Day 1/Day 2 (D1D2) weekly schedule as the RP2DS. The company plans to further evaluate this combination at the RP2DS in expansion cohorts of patients with colorectal cancer harboring KRASG12V or KRASG12D mutations and others drawing from a broader set of histotypes and RAS pathway genotypes.



    • Interim Data Presented at ENA 2020 from Phase 1b/2 Clinical Trial Combining RMC-4630 with Cobimetinib Interim data reported by investigators support a dual intermittent dosing strategy for RMC-4630 and cobimetinib that appears tolerable and exceeds target plasma exposures for each drug based on preclinical models of RAS pathway-driven cancers that project potential clinical activity. Investigators also reported preliminary evidence of anti-tumor activity in patients with colorectal cancer driven by KRAS mutations.



    • RMC-4630 Multi-Cohort Phase 1/2 Clinical Program Expanding as Potential Backbone for Combination Therapies



      • Dosing and enrollment continue in the Amgen-sponsored Phase 1 study of RMC-4630 in combination with Amgen's KRASG12C(OFF) inhibitor, AMG 510, or sotorasib

      • Dosing and enrollment continue in the Sanofi-sponsored Phase 1 study of RMC-4630 in combination with the PD-1 inhibitor, pembrozilumab (Keytruda®
      • Initiated a study evaluating RMC-4630 in combination with the EGFR inhibitor, osimertinib (Tagrisso®)
      • Entered into a new clinical collaboration agreement with AstraZeneca to study RMC-4630 in combination with an emerging asset targeting KRASG12C from AstraZeneca's portfolio
    • Clinical Results Support Dual Mechanisms of Anti-Tumor Activity by RMC-4630: Tumor Cell-Intrinsic and Stimulation of Immune Response  Data reported by the company from its ongoing RMC-4630-01 trial provide clinical evidence that SHP2 inhibition may act by stimulating arms of the immune system as a second anti-tumor mechanism in addition to its tumor cell-intrinsic benefits. These observations provide further rationale for the ongoing clinical combination study with RMC-4630 and pembrozilumab by Sanofi, the company's SHP2 collaboration partner.

    RAS(ON) Inhibitors

    • First-In-Class RAS(ON) Inhibitor Platform – The company's proprietary tri-complex technology platform enables a highly differentiated approach to inhibiting RAS(ON) with potential biologic advantages. Revolution Medicines is developing a portfolio of compounds that it believes are the first and only RAS(ON) inhibitors to use this mechanism of action. The company has produced potent, cell-active RAS(ON) Inhibitors for variants driving the vast majority of RAS-addicted cancers.



    • Inhibitors for Five RAS(ON) Variants in Lead Optimization – KRASG12C/NRASG12C(ON), KRASG12D(ON), KRASG13C(ON), and KRASG12V(ON) inhibitors are in lead optimization, which include and expands on the company's initial four priority RAS(ON) targets. The company remains on track to nominate a first development candidate from this platform by the end of 2020.



    • Preclinical Tumor Regressions Induced by First-in-Class KRASG12D(ON) Inhibitors Data presented by the company at the RAS Targeted Drug Development conference demonstrated that the company's first-in-class KRASG12D(ON) inhibitors induced significant decreases in tumor volume in a xenograft model of human pancreatic cancer driven by a KRASG12D mutation. The KRASG12D genotype is of particularly high clinical interest as there are currently no approved targeted therapies for the treatment of cancers driven by this mutation, which is found in approximately 35% of pancreatic cancers and 15% of colorectal cancers in the U.S.

    Corporate Highlights

    • Completed Follow-On Financing  The company completed a follow-on equity public offering in July 2020.  The upsized financing raised gross proceeds of $179.4 million before deducting underwriting discounts, commissions and other offering expenses payable by Revolution Medicines, further strengthening its balance sheet to support multiple clinical milestones and extend the company's runway.

    Upcoming Corporate Milestones

    RAS(ON) Inhibitors

    • Nominate first development candidate (Q4 2020)
    • Nominate second development candidate (1H 2021)

    RAS Companion Inhibitors

    • SHP2 (RMC-4630)
      • Report monotherapy dose escalation safety data set (1H 2021)
      • Provide preliminary activity data for combination with cobimetinib (2H 2021)
      • Provide initial tolerability and PK data for combination with osimertinib (2H 2021)
    • mTORC1/4EBP1 (RMC-5552)
      • Advance to IND-ready status (Q4 2020)
      • Begin treating patients with monotherapy (1H 2021)

    Third Quarter 2020 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $466.1 million as of September 30, 2020, compared to $122.8 million as of December 31, 2019. The increase was primarily due to proceeds from the company's initial public offering in February 2020 and follow-on equity public offering in July 2020.

    Revenue: Total revenue, consisting of revenue from the company's collaboration agreement with Sanofi, was $12.7 million for the quarter ended September 30, 2020, compared to $12.5 million for the quarter ended September 30, 2019.

    R&D Expenses: Research and development expenses were $34.9 million for the quarter ended September 30, 2020, compared to $23.0 million for the quarter ended September 30, 2019. This increase was primarily due to an increase in research expenses associated with the company's pre-clinical research portfolio, and an increase in personnel-related expenses related to additional headcount.

    G&A Expenses: General and administrative expenses were $5.3 million for the quarter ended September 30, 2020, compared to $3.1 million for the quarter ended September 30, 2019. This increase was primarily due to an increase in expenses associated with operating as a public company.

    Net Loss: Net loss was $27.2 million for the quarter ended September 30, 2020, compared to net loss of $12.8 million for the quarter ended September 30, 2019.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors include compounds targeting KRASG12C/NRASG12C(ON), KRASG12D(ON), KRASG13C(ON), KRASG12V(ON) and other RAS variants. RAS Companion Inhibitors include RMC-4630 targeting SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co.   Tagrisso® is a registered trademark of the AstraZeneca group of companies.  Cotellic® is the registered trademark of Genentech, Inc. (a member of the Roche Group).

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines and its ability to advance its portfolio and R&D pipeline; enrollment in the company's clinical trials and the tolerability and potential efficacy of the company's candidates being studied; the ability of the company's therapies to inhibit frontier targets in RAS-addicted cancers; the company's planned expansion cohorts for single-agent RMC-4630 and RMC-4630 in combination with cobimetinib; the growth and scope of the company's RAS(ON) Inhibitor platform; the potential advantages and effectiveness of the company's preclinical candidates, including its RAS(ON) Inhibitors; the company's plans to nominate development candidates from its family of RAS(ON) Inhibitors; the company's plans to release data related to its RAS Companion Inhibitors; the company's plan to advance RMC-5552 to IND-ready status and to begin treating patients with RMC-5552 monotherapy. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



    REVOLUTION MEDICINES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

      Three Months Ended

    September 30,
      Nine Months Ended

    September 30,
     
      2020  2019  2020  2019 
    Revenue:                
    Collaboration revenue, related party $12,661  $12,506  $34,232  $37,953 
    Total revenue  12,661   12,506   34,232   37,953 
    Operating expenses:                
    Research and development  34,871   22,962   95,246   64,265 
    General and administrative  5,341   3,103   15,603   8,244 
    Total operating expenses  40,212   26,065   110,849   72,509 
    Loss from operations  (27,551)  (13,559)  (76,617)  (34,556)
    Other income, net:                
    Interest income  347   766   1,986   1,571 
    Interest and other expense  (17)  (25)  (57)  (83)
    Total other income, net  330   741   1,929   1,488 
    Loss before income taxes  (27,221)  (12,818)  (74,688)  (33,068)
    Benefit from income taxes        733    
    Net loss $(27,221) $(12,818) $(73,955) $(33,068)
    Redeemable convertible preferred stock dividends - undeclared and cumulative     (4,247)  (2,219)  (9,987)
    Net loss attributable to common stockholders $(27,221) $(17,065) $(76,174) $(43,055)
    Net loss per share attributable to common stockholders - basic and diluted $(0.42) $(6.08) $(1.49) $(15.81)
    Weighted-average common shares used to compute net loss per share, basic and diluted  64,892,868   2,806,470   51,031,003   2,723,541 



    REVOLUTION MEDICINES, INC.

    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, unaudited)

      September 30,  December 31, 
      2020  2019 
             
    Cash, cash equivalents and marketable securities $466,140  $122,758 
    Working capital (1)  440,514   90,929 
    Total assets  595,070   220,529 
    Deferred revenue  22,882   31,851 
    Total liabilities  90,000   67,994 
    Redeemable convertible preferred stock     305,109 
    Total stockholders' equity (deficit)  505,070   (152,574)

          (1)   Working capital is defined as current assets less current liabilities.



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  21. Plenary Presentation at EORTC-NCI-AACR 32nd Symposium on Molecular Targets and Cancer Therapeutics Describes Encouraging Tolerability and Exposure Profiles for RMC-4630 Combined with Cobimetinib and Early Evidence of Clinical Activity in RASmut Colorectal Cancers

    Company Also Announces New Clinical Collaboration with AstraZeneca to Study RMC-4630 in Combination with an Emerging AstraZeneca Asset Targeting KRASG12C

    REDWOOD CITY, Calif., Oct. 24, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today reported interim data from the company's ongoing Phase 1b/2 clinical trial (RMC-4630-02) evaluating…

    Plenary Presentation at EORTC-NCI-AACR 32nd Symposium on Molecular Targets and Cancer Therapeutics Describes Encouraging Tolerability and Exposure Profiles for RMC-4630 Combined with Cobimetinib and Early Evidence of Clinical Activity in RASmut Colorectal Cancers

    Company Also Announces New Clinical Collaboration with AstraZeneca to Study RMC-4630 in Combination with an Emerging AstraZeneca Asset Targeting KRASG12C

    REDWOOD CITY, Calif., Oct. 24, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today reported interim data from the company's ongoing Phase 1b/2 clinical trial (RMC-4630-02) evaluating the combination of RMC-4630 and cobimetinib (Cotellic®) in an oral presentation by Johanna C. Bendell, M.D., Sarah Cannon Research Institute, Nashville, TN in a plenary session at the EORTC-NCI-AACR 32nd Symposium on Molecular Targets and Cancer Therapeutics (ENA 2020). Interim results suggest that a dual intermittent dosing strategy for RMC-4630 and cobimetinib exceeds target plasma exposures for each drug based on preclinical models of RAS pathway-driven cancers that project potential clinical activity. The adverse event profile of the combination, which was consistent with expected on-pathway effects of both drugs, was tolerable under the dual intermittent dosing schedule.

    The ongoing Phase 1b/2 RMC-4630-02 trial includes an open-label, dose-escalation and dose-expansion study arm designed to evaluate the safety, tolerability, pharmacokinetic, and pharmacodynamic profiles of RMC-4630 and cobimetinib in adult patients with relapsed/refractory solid tumors that harbor specific genomic RAS pathway mutations. The results of this study will inform Revolution Medicines' pending selection of a recommended Phase 2 dose and schedule for the drug combination to be evaluated further in one or more expansion cohorts of patients selected by tumor genotype and histotype that are expected to initiate in 2020.

    While evaluation of efficacy outcomes is not a primary objective of the dose escalation portion of the RMC-4630-02 study, investigators reported preliminary evidence of anti-tumor activity in patients with colorectal cancer driven by KRAS mutations. As of the data cut-off date, tumor volume reduction was observed in three of seven patients with colorectal cancers harboring KRAS mutations who were treated at the highest dose of RMC-4630, including one unconfirmed partial response in a patient carrying a KRASG12D mutation.

    Expansion of Combination Program

    Revolution Medicines also announced that it has signed an agreement with AstraZeneca (NASDAQ:AZN) to enter a clinical collaboration to study RMC-4630 in combination with an emerging asset from AstraZeneca's preclinical efforts targeting KRASG12C. Under the agreement, AstraZeneca will sponsor and conduct this combination study and Revolution Medicines will provide clinical supply of RMC-4630.

    Separately, Revolution Medicines and Amgen are collaborators in an ongoing Amgen-sponsored clinical trial studying RMC-4630 in combination with AMG 510 (soratinib), an investigational KRASG12C(OFF) inhibitor.

    "Drug combinations are likely to be critical for defeating inherent drug resistance mechanisms exploited by RAS-addicted cancers, and both the data presented at ENA 2020 and the new clinical collaboration announced today represent important steps forward in developing RMC-4630 as a backbone of such combination therapies. The ENA presentation focuses on cancers with RAS mutations lacking a mutant-selective inhibitor, and suggest that RMC-4630 and cobimetinib can be combined through an innovative dual intermittent dosing schedule to drive anti-tumor activity in advanced colorectal cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "We are currently refining a recommended Phase 2 dose and schedule to evaluate further for safety, tolerability and anti-tumor activity in dedicated expansion patient cohort(s)."

    "We are also excited to collaborate with AstraZeneca to study RMC-4630 in combination with an emerging asset from AstraZeneca's pipeline targeting KRASG12C(OFF) for tumors carrying a KRASG12C mutation, a planned study that represents an expansion of our commitment to RMC-4630 as a backbone for combinations with RAS-mutant inhibitors. We also continue growing our exciting pipeline of direct inhibitors of oncogenic RAS(ON) variants, including our direct inhibitors of KRASG12C(ON) and KRASG12D(ON) currently in lead optimization."

    RMC-4630 and cobimetinib are targeted inhibitors of oncogenic proteins at distinct positions within the RAS signaling cascade that is frequently exploited by human cancers and may develop adaptive resistance to single agent treatment. RMC-4630 is a potent and orally bioavailable small molecule designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a key role in modulating cell growth by transmitting signals from receptor tyrosine kinases to RAS. Cobimetinib, marketed in the U.S. by Genentech, a member of the Roche group, inhibits the activity of MEK, a downstream effector of RAS that affects cell survival and growth. Cobimetinib is approved in the U.S. for the treatment of patients with BRAFV600E or BRAFV600K mutation-positive unresectable or metastatic melanoma in combination with vemurafenib (Zelboraf®). Cobimetinib is provided by Genentech for the RMC-4630-02 study under a clinical collaboration agreement with Revolution Medicines.   

    About RMC-4630

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, a Phase 1b/2 trial (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations, a Phase 1b study (CodeBreaK 101) in combination with AMG 510 in patients with advanced solid tumors harboring the KRASG12C mutation, and a Phase 1 study in combination with pembrozilumab in patients with advanced malignancies.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress various oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors include compounds targeting KRASG12C(ON), KRASG12D(ON) and other RAS variants. RAS Companion Inhibitors include RMC-4630 targeting SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1.

    Cotellic® is the registered trademark of Genentech, Inc. (a member of the Roche Group).

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the results of the ongoing RMC-4630-02 trial and Revolution Medicines' ability to select a recommended Phase 2 dose and schedule for this combination and to evaluate one or more expansion cohorts, statements regarding the proposed combination study with AstraZeneca, the ability of drug combinations to defeat drug resistance mechanisms exploited by RAS-addicted cancers, the utility of RMC-4630 as a backbone for combination treatments and the company's ability to develop it in this capacity, the growth of the company's pipeline of RAS(ON) inhibitors, and the potential benefits of, and markets for, Revolution Medicines' potential product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 10, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

     

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  22. REDWOOD CITY, Calif., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that interim data from the company's ongoing Phase 1b/2 clinical trial (RMC-4630-02) evaluating the combination of RMC-4630 and cobimetinib (Cotellic®) will be reported in an oral presentation in a plenary session at the upcoming EORTC-NCI-AACR 32nd Symposium on Molecular Targets and Cancer Therapeutics (ENA 2020) being held virtually October 24-25, 2020.

    The ongoing Phase 1b/2 RMC-4630-02 trial is an open-label, dose-escalation and dose-expansion study designed to evaluate the safety, tolerability, pharmacokinetic…

    REDWOOD CITY, Calif., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that interim data from the company's ongoing Phase 1b/2 clinical trial (RMC-4630-02) evaluating the combination of RMC-4630 and cobimetinib (Cotellic®) will be reported in an oral presentation in a plenary session at the upcoming EORTC-NCI-AACR 32nd Symposium on Molecular Targets and Cancer Therapeutics (ENA 2020) being held virtually October 24-25, 2020.

    The ongoing Phase 1b/2 RMC-4630-02 trial is an open-label, dose-escalation and dose-expansion study designed to evaluate the safety, tolerability, pharmacokinetic, and pharmacodynamic profiles of RMC-4630 and cobimetinib in adult patients with relapsed/refractory solid tumors that harbor specific genomic mutations. The study tested several dosing regimens, including intermittent RMC-4630 plus daily or intermittent cobimetinib. Preliminary data to be presented at ENA 2020 will focus on safety, tolerability and pharmacokinetic findings from combination dosing regimens.

    "We are gratified that data from our ongoing combination trial of RMC-4630 and cobimetinib were selected for presentation at ENA 2020. Drug combinations will likely be critical to defeating inherent drug resistance mechanisms exploited by RAS-addicted cancers," said Steve Kelsey, M.D., president of research and development at Revolution Medicines. "We remain keenly focused on testing the clinical hypothesis that RMC-4630 may be useful as a backbone for various combination treatments designed for different cancers with distinct molecular profiles."

    Details of the upcoming oral presentation at ENA 2020 are as follows:

    • Title: Intermittent dosing of RMC-4630, a potent, selective inhibitor of SHP2, combined with the MEK inhibitor cobimetinib, in a Phase 1b/2 clinical trial for advanced solid tumors with activating mutations of RAS signaling



    • Session: Plenary Session 1: Late-Breaking and Best Proffered Papers



    • Presenting Author: Johanna C. Bendell, M.D., Sarah Cannon Research Institute, Nashville, Tennessee



    • Presentation Date/Time: Saturday, October 24, 2020, 3:45 – 3:55 p.m. CEST (9:45 – 9:55 a.m. Eastern/6:45 – 6:55 a.m. Pacific)



    • Live Virtual Q&A: To follow completion of Plenary Session 1 presentations

    RMC-4630 and cobimetinib are targeted inhibitors of oncogenic proteins at distinct positions within the RAS signaling cascade that is frequently exploited by human cancers and may develop adaptive resistance to single agent treatment. RMC-4630 is a potent and orally bioavailable small molecule designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a key role in modulating cell growth by transmitting signals from receptor tyrosine kinases to RAS. Cobimetinib, marketed in the U.S. by Genentech, a member of the Roche group, inhibits the activity of MEK, a downstream effector of RAS that affects cell survival and growth. Cobimetinib is approved in the U.S. for the treatment of patients with BRAFV600E or BRAFV600K mutation-positive unresectable or metastatic melanoma in combination with vemurafenib (Zelboraf®).  

    About RMC-4630

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, a Phase 1b/2 trial (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations, a Phase 1b study (CodeBreaK 101) in combination with AMG 510 in patients with advanced solid tumors harboring the KRASG12C mutation, and a Phase 1 study in combination with pembrozilumab in patients with advanced malignancies.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline comprises RAS(ON) Inhibitors designed to suppress various oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. RAS(ON) Inhibitors include compounds targeting KRASG12C(ON), KRASG12D(ON) and other RAS variants. RAS Companion Inhibitors include RMC-4630 targeting SHP2, RMC-5552 targeting mTORC1, and inhibitors of SOS1.

    Cotellic® is the registered trademark of Genentech, Inc. (a member of the Roche Group).

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the ongoing RMC-4630-02 trial, the ability of drug combinations to defeat drug resistance mechanisms exploited by RAS-addicted cancers, the utility of RMC-4630 as a backbone for combination treatments, and the potential benefits of, and markets for, Revolution Medicines' potential product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 10, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  23. Presentation at 2nd Annual RAS-Targeted Drug Development Conference Highlights First Publicly Reported Data for Inhibitors of Notorious Cancer Protein KRASG12D(ON)

    REDWOOD CITY, Calif., Sept. 16, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today reported data demonstrating that its first-in-class KRASG12D(ON) inhibitors induced tumor regressions in a preclinical model of human pancreatic cancer carrying an oncogenic KRASG12D mutation. This first public disclosure of results showing anti-tumor activity for potent inhibitors of the notorious KRASG12D(ON) cancer protein was made by Steve…

    Presentation at 2nd Annual RAS-Targeted Drug Development Conference Highlights First Publicly Reported Data for Inhibitors of Notorious Cancer Protein KRASG12D(ON)

    REDWOOD CITY, Calif., Sept. 16, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today reported data demonstrating that its first-in-class KRASG12D(ON) inhibitors induced tumor regressions in a preclinical model of human pancreatic cancer carrying an oncogenic KRASG12D mutation. This first public disclosure of results showing anti-tumor activity for potent inhibitors of the notorious KRASG12D(ON) cancer protein was made by Steve Kelsey, M.D., president of research and development, in a presentation entitled "Approaches to Inhibiting RAS Driven Tumors Beyond KRASG12C" at the 2nd Annual RAS-Targeted Drug Development Conference. 

    Revolution Medicines uses its proprietary tri-complex technology platform to create innovative compounds designed to inhibit the active, GTP-bound form of RAS, or RAS(ON), proteins. The company previously reported representative preclinical profiles of its potent inhibitors of another common cancer driver, KRASG12C(ON). The newly presented data demonstrated that its KRASG12D(ON) inhibitors induced significant decreases in tumor volume in a xenograft model of human pancreatic cancer driven by a KRASG12D mutation. This anti-tumor activity was observed across multiple dose levels, and all dose levels were well tolerated. The KRASG12D(ON) program is currently in lead optimization.

    The KRASG12D genotype is of particularly high clinical interest as there are currently no approved targeted therapies for the treatment of cancers driven by this mutation, which is found in approximately 35 percent of pancreatic cancer cases and 15 percent of colorectal cancers in the U.S. The company continues its efforts to discover and develop inhibitors of multiple oncogenic mutants of RAS proteins, which in aggregate are believed to drive approximately 30% of all human cancers in the U.S. Earlier in 2020 the company named KRASG12C, KRASG12D, KRASG13C and NRASG12C as its four initial priority RAS(ON) targets.

    "It is gratifying for our R&D organization to present this exciting demonstration of preclinical anti-cancer activity of compounds targeting the oncogenic KRASG12D(ON) protein. Advancement of our KRASG12D(ON) inhibitor program into the lead optimization stage represents an important corporate milestone, and highlights the substantial progress that we continue to make across our broad-based mutant RAS(ON) inhibitor effort," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "We believe that targeted inhibitors directed to mutant forms of RAS that drive various cancers, and in particular the RAS(ON) form of these proteins, represent a potential therapeutic strategy for serving important unmet needs on behalf of patients battling RAS-driven cancers."  

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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. 

    The company's R&D pipeline includes RMC-4630, a clinical-stage investigational drug that is designed to selectively inhibit the activity of SHP2, an upstream node in RAS signaling. Preclinical programs include inhibitors of multiple mutant RAS proteins and SOS1.  RMC-5552, currently in IND-enabling development, is designed for use against tumors featuring mTORC1 activation, including certain RAS-addicted cancers.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the potential anti-tumor activity of RAS(ON) inhibitors in KRASG12D or other mutant RAS(ON) driven tumors, Revolution Medicines' efforts to discover and develop inhibitors of multiple oncogenic mutants of RAS proteins and the potential benefits of, and markets for, Revolution Medicines' potential product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 10, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  24. REDWOOD CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, will deliver a corporate presentation as part of the H.C. Wainwright 22nd Annual Global Investment Conference. The conference, which will take place September 14-16, 2020, is being conducted with a virtual format.

    Dr. Goldsmith's presentation will take place at 11:00 a.m. Eastern on Monday, September 14, 2020.  A live webcast of the presentation will be available. To access the live webcast of the presentation, please…

    REDWOOD CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman, will deliver a corporate presentation as part of the H.C. Wainwright 22nd Annual Global Investment Conference. The conference, which will take place September 14-16, 2020, is being conducted with a virtual format.

    Dr. Goldsmith's presentation will take place at 11:00 a.m. Eastern on Monday, September 14, 2020.  A live webcast of the presentation will be available. To access the live webcast of the presentation, please visit the "Events & Presentations" page within the Investors section of Revolution Medicines' website at https://ir.revmed.com/events-and-presentations. Additionally, a replay of the webcast will be available on the "Events & Presentations" page of the Revolution Medicines' website following the conference.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline includes RMC-4630, a clinical-stage investigational drug that is designed to selectively inhibit the activity of SHP2, an upstream node in RAS signaling. Preclinical programs include inhibitors of multiple mutant RAS proteins and SOS1.  RMC-5552, currently in IND-enabling development, is designed for use against tumors featuring mTORC1 activation, including certain RAS-addicted cancers.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  25. REDWOOD CITY, Calif., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming 2nd Annual RAS-Targeted Drug Development Conference being held virtually September 14-16, 2020. Steve Kelsey, M.D., president, research and development, and Jan Smith, Ph.D., senior vice president, biology, will be featured speakers during the digital event.

    Details of Revolution Medicines' participation in the 2nd Annual RAS-Targeted Drug Development Conference are as follows:

    Presentation: 
      
    Title:Approaches to Inhibiting RAS Driven Tumors

    REDWOOD CITY, Calif., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced that the company will participate in the upcoming 2nd Annual RAS-Targeted Drug Development Conference being held virtually September 14-16, 2020. Steve Kelsey, M.D., president, research and development, and Jan Smith, Ph.D., senior vice president, biology, will be featured speakers during the digital event.

    Details of Revolution Medicines' participation in the 2nd Annual RAS-Targeted Drug Development Conference are as follows:

    Presentation: 
      
    Title:Approaches to Inhibiting RAS Driven Tumors Beyond KRAS G12C
    Presenter:Steve Kelsey, M.D., president, research and development
    Date:Wednesday, September 16, 2020
    Time:9:00 a.m. Eastern
      
    Panel Discussion: 
      
    Title:Empowering Combination Strategies to Target RAS Mutant Cancers: The Future of Oncology Therapy
    Participant:Jan Smith, Ph.D., senior vice president, biology
    Date:Wednesday, September 16, 2020
    Time:4:30 p.m. Eastern
      
    Workshop: 
      
    Workshop Title:Navigating the Future Potential of Combination Strategies: Combining Inhibitors Inside & Outside the RAS Pathway
    Co-Leader:Jan Smith, Ph.D., senior vice president, biology
    Dr. Smith's Presentation: Therapeutic Approaches to Targeting RAS-Dependent Cancers
    Date:Monday, September 14, 2020
    Time:11:30 a.m. Eastern

    Additional information on the 2nd Annual RAS-Targeted Drug Development Conference is available through the conference website at https://ras-drugdevelopment.com/

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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. 

    The company's R&D pipeline includes RMC-4630, a clinical-stage investigational drug that is designed to selectively inhibit the activity of SHP2, an upstream node in RAS signaling. Preclinical programs include inhibitors of multiple mutant RAS proteins and SOS1. RMC-5552, currently in IND-enabling development, is designed for use against tumors featuring mTORC1 activation, including certain RAS-addicted cancers.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  26. Interim RMC-4630 Data Support Benefit of Intermittent Dosing and Corroborate Clinical Activity Against Genetically-Defined Tumors

    Targeted Combination Strategy Underpins Initiation of New Clinical Trials Evaluating RMC-4630 with KRASG12C Inhibitor or Anti-PD-1 Antibody

    $179.4 Million Follow-On Offering Strengthens Balance Sheet

    REDWOOD CITY, Calif., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the second quarter and six months ended June 30, 2020, and provided an update on its R&D pipeline and other corporate developments.

    Interim RMC-4630 Data Support Benefit of Intermittent Dosing and Corroborate Clinical Activity Against Genetically-Defined Tumors

    Targeted Combination Strategy Underpins Initiation of New Clinical Trials Evaluating RMC-4630 with KRASG12C Inhibitor or Anti-PD-1 Antibody

    $179.4 Million Follow-On Offering Strengthens Balance Sheet

    REDWOOD CITY, Calif., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage precision oncology company focused on developing targeted therapies to inhibit frontier targets in RAS-addicted cancers, today announced its financial results for the second quarter and six months ended June 30, 2020, and provided an update on its R&D pipeline and other corporate developments.

    "Revolution Medicines continues pursuit of its ambitious R&D strategy on behalf of cancer patients with RAS-addicted tumors.  Our cohesive pipeline focuses on multiple key nodes within RAS signaling and interconnected pathways to enable combination treatment approaches that may be needed to maximize patient benefit in these vexing cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines.   

    "In the second quarter, we made broad progress across our portfolio of targeted inhibitors.  RMC-4630, our clinical stage inhibitor of SHP2 and a potential backbone in combination treatments, showed further evidence of clinical activity against genetically-defined tumors. Importantly, combination studies of RMC-4630 with the KRASG12C inhibitor, AMG 510 (sotorasib), and the checkpoint inhibitor, Keytruda® (pembrolizumab), were initiated. We also introduced a potential role for our second clinical candidate, RMC-5552, in combination therapy against cancers carrying dual RAS/mTOR pathway mutations.  Further, we made substantial progress toward nomination of a first development candidate from our innovative family of targeted RAS(ON) inhibitors.  Finally, just after the quarter, we completed a successful first follow-on financing, further strengthening our financial position to enable the continued advancement of our deep R&D pipeline." 

    R&D Highlights 

    • RMC-4630 interim Phase 1 data support benefits of intermittent dosing and expanded clinical activity in genetically-defined tumors – Revolution Medicines' ongoing Phase 1 monotherapy and Phase 1b/2 combination clinical trials continue to enroll.  During the second quarter, Revolution Medicines reported interim data from the company's Phase 1 monotherapy trial that support the benefits of intermittent dosing schedules, provided updated evidence of anti-tumor activity in non-small cell lung cancer patients carrying KRAS mutations, and revealed new anti-tumor activity in patients with tumors harboring NF1LOF mutations.

       
    • RMC-4630 program bolstered with the initiation of two new combination clinical trials -- During the quarter, the company re-affirmed its strategic focus on targeted drug combinations as it continued to implement a range of studies featuring RMC-4630 as a backbone investigational drug in combination therapies. These efforts included the initiation of two new clinical trials, the first evaluating RMC-4630 in combination with Amgen's investigational KRASG12C(OFF) inhibitor AMG 510 (sotorasib), and the second in combination with the checkpoint inhibitor, pembrozilumab (Keytruda®).  The company plans to initiate a third study evaluating a combination with the EGFR inhibitor osimertinib (Tagrisso®) in 2020 as a substudy of the ongoing RMC-4630-02 clinical trial.  While the COVID-19 pandemic may indirectly cause delays with the initiation and enrollment of clinical studies, the company is currently unaware of any pandemic-related factor that is expected to materially impact its timelines.

       
    • Findings published in Cancer Research support combination of RMC-4630 with checkpoint inhibitor – During the second quarter, Revolution Medicines researchers described ways in which a SHP2 inhibitor enhances the immune response to tumors, representing a second type of anti-tumor mechanism beyond its direct effects within cancer cells themselves.  The paper also reported deep and durable tumor growth inhibition following combination treatment with a SHP2 inhibitor and an anti-PD-1 inhibitor in mouse cancer models, yielding complete tumor regressions and sustained immunological memory.  This work provides a compelling mechanism-based rationale for the combination clinical study with RMC-4630 and pembrolizumab initiated this quarter.  
    • In vivo data reveal activity of innovative mTORC1-selective inhibitor in RAS tumors and provide additional motivation for advancement of RMC-5552 into clinical development –  During the quarter, Revolution Medicines reported new in vivo data supporting that RMC-5552, the company's second clinical candidate, may increase anti-tumor activity in combination with KRASG12C inhibitors in cancers with RAS/mTOR pathway co-mutations that can cause resistance to single agent treatment.   The company remains on track to be IND-ready with this compound by the end of 2020.
    • Mutant-selective RAS(ON) inhibitor program in vivo data demonstrate tumor regression following oral administration - Revolution Medicines is developing a portfolio of mutant-selective RAS(ON) inhibitors that it believes may be the first potent, selective, cell-active inhibitors of the active, GTP-bound form of RAS, or RAS(ON). During the second quarter, the company reported new in vivo data demonstrating that orally administered KRASG12C(ON) inhibitors from its proprietary collection drive tumor regression.  The company continues to optimize these inhibitors and plans to nominate its first development candidate from this portfolio in 2020.
    • Multiple presentations at the American Association of Cancer Research (AACR) Virtual Annual Meeting II – Revolution Medicines had a strong presence at AACR in June, presenting three posters and hosting an educational session spanning multiple company programs.  The presentations included:
      • SHP2 inhibition as the backbone of targeted therapy combinations for the treatment of cancers driven by oncogenic mutations in the RAS pathway
      • Positioning a selective, bi-steric inhibitor of mTORC1 as a combination partner in RAS-driven cancers
      • Dual inhibition of SHP2 and CDK4/6 leads to immunological memory and immune-mediated anti-tumor activity in a mouse syngeneic model of breast cancer

    Corporate Highlights

    • Appointment of new board members - During the quarter, Revolution Medicines added significant financial and transactional expertise to its board of directors with the appointments of Eric T. Schmidt, Ph.D. and Peter Svennilson.

                   

      Dr. Schmidt's experience spans both finance and life sciences, having previously served for more than two decades as a biotechnology research analyst.  In this capacity, Dr. Schmidt most recently served as managing director and senior biotechnology analyst at Cowen, and previously as vice president and biotechnology research analyst at UBS Securities.  Dr. Schmidt is currently the chief financial officer of Allogene Therapeutics, a clinical-stage biotechnology company pioneering the development of allogenic cell therapies for cancer.

                   

      Mr. Svennilson has worked in venture capital and finance for more than 35 years and founded The Column Group in 2007.  As former chairman of Aragon Pharmaceuticals and Seragon Pharmaceuticals, Mr. Svennilson was directly involved in the sale of these companies to Johnson & Johnson and Genentech/Roche, respectively.  Previously, as a founder and managing partner of Three Crowns Capital, he played a key role in the financing of numerous, high profile biotechnology companies including, Tularik, Chemocentryx, Five Prime Therapeutics, and others.



    • Reported new evolutionary example of tri-complex modality for "undruggable" protein targets – During the second quarter, Revolution Medicines reported a natural product and semi-synthetic analogues that potently bind to CEP250, a human protein involved in replication of SARS-CoV-2 virus that is expected to be refractory to pharmaceutical drug discovery, by forming selective, high-affinity tri-complexes with an intracellular chaperone protein.  This finding further demonstrates the potential for the company's tri-complex modality to be useful in developing drugs against "featureless" disease targets.  Revolution Medicines out-licensed intellectual property based on these findings to Ginkgo Bioworks to develop the natural product and related compounds for potential application in the treatment of infectious diseases, possibly including COVID-19.

       
    • Completed Follow-On Financing – Subsequent to the quarter end, the company completed a follow-on public equity offering.  The upsized financing raised gross proceeds of $179.4 million before deducting underwriting discounts, commissions and other offering expenses payable by Revolution Medicines, further strengthening its balance sheet to support multiple clinical milestones and extend the company's runway.

    Second Quarter 2020 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $325.4 million as of June 30, 2020, compared to $122.8 million as of December 31, 2019. The increase was primarily due to proceeds from the IPO in February 2020.  Proceeds from the recently completed offering are not included in the June 30, 2020 cash, cash equivalents and marketable securities balance.

    Revenue: Total revenue, consisting of revenue from the company's collaboration agreement with Sanofi, was $10.0 million for the quarter ended June 30, 2020, compared to $12.3 million for the quarter ended June 30, 2019. This decrease was due to lower reimbursed research and development services in the quarter ended June 30, 2020 for RMC-4630 resulting from lower manufacturing costs, which were partially offset by higher clinical trial costs. During the quarter ended June 30, 2019, the company incurred upfront manufacturing costs related to the supply of RMC-4630 for our clinical trials. 

    R&D Expenses: Research and development expenses were $32.9 million for the quarter ended June 30, 2020, compared to $20.1 million for the quarter ended June 30, 2019. This increase was primarily due to an increase in research expenses associated with the company's pre-clinical research portfolio, and an increase in personnel-related expenses related to additional headcount, partially offset by lower costs related to RMC-4630.

    G&A Expenses: General and administrative expenses were $5.1 million for the quarter ended June 30, 2020, compared to $2.7 million for the quarter ended June 30, 2019. This increase was primarily due to an increase in expenses associated with operating as a public company.

    Net Loss: Net loss was $27.2 million for the quarter ended June 30, 2020, compared to net loss of $10.1 million for the quarter ended June 30, 2019.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses 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.

    The company's R&D pipeline includes RMC-4630, a clinical-stage investigational drug that is designed to selectively inhibit the activity of SHP2, an upstream node in RAS signaling. Preclinical programs include inhibitors of multiple mutant RAS proteins and SOS1.  RMC-5552, currently in IND-enabling development, is designed for use against tumors featuring mTORC1 activation, including certain RAS-addicted cancers.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co.  Tagrisso® is a registered trademark of the AstraZeneca group of companies. 

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines and its ability to advance its R&D pipeline, the ability of Revolution Medicines' therapies to inhibit frontier targets in RAS-addicted cancers, the potential role of RMC-5552 in a combination therapy, Revolution Medicines' plan to nominate a development candidate from its family of targeted RAS(ON) inhibitors in 2020, the benefits of intermittent dosing of RMC-4630 and the clinical activity of this candidates, Revolution Medicines' plans to initiate a clinical trial evaluating RMC-4630 in combination with the EGFR inhibitor osimertinib,  Revolution Medicines' plan to be IND-ready with RMC-5552 in 2020. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 10, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.



    REVOLUTION MEDICINES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

     
      Three Months Ended June 30,  Six Months Ended June 30, 
      2020  2019  2020  2019 
    Revenue:                
    Collaboration revenue, related party $10,025  $12,281  $21,571  $25,447 
    Total revenue  10,025   12,281   21,571   25,447 
    Operating expenses:                
    Research and development  32,918   20,117   60,375   41,303 
    General and administrative  5,091   2,725   10,262   5,141 
    Total operating expenses  38,009   22,842   70,637   46,444 
    Loss from operations  (27,984)  (10,561)  (49,066)  (20,997)
    Other income, net:                
    Interest income  730   470   1,639   805 
    Interest and other expense  (19)  (28)  (40)  (58)
    Total other income, net  711   442   1,599   747 
    Loss before income taxes  (27,273)  (10,119)  (47,467)  (20,250)
    Benefit from income taxes  58      733    
    Net loss $(27,215) $(10,119) $(46,734) $(20,250)
    Redeemable convertible preferred stock dividends - undeclared and cumulative     (3,063)  (2,219)  (5,740)
    Net loss attributable to common stockholders $(27,215) $(13,182) $(48,953) $(25,990)
    Net loss per share attributable to common stockholders - basic and diluted $(0.46) $(4.85) $(1.11) $(9.69)
    Weighted-average common shares used to compute net loss per share, basic and diluted  58,752,494   2,718,573   44,025,372   2,680,863 
     
     

    REVOLUTION MEDICINES, INC.

    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, unaudited)

      June 30,  December 31, 
      2020  2019 
             
    Cash, cash equivalents and marketable securities $325,445  $122,758 
    Working capital (1)  296,644   90,929 
    Total assets  453,957   220,529 
    Deferred revenue  26,191   31,851 
    Total liabilities  93,459   67,994 
    Redeemable convertible preferred stock     305,109 
    Total stockholders' equity (deficit)  360,498   (152,574)

          (1)     Working capital is defined as current assets less current liabilities.

    Contacts: 
    For Investors: 
    Vida Strategic Partners 
    Stephanie Diaz 
    415-675-7401 
    sdiaz@vidasp.com 
    
    For Media: 
    Vida Strategic Partners 
    Tim Brons 
    415-675-7402 
    tbrons@vidasp.com

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  27. REDWOOD CITY, Calif., July 13, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit elusive frontier targets within notorious cancer pathways, today announced the closing of an underwritten public offering of 6,900,000 shares of common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. The shares of common stock issued and sold in the offering include 900,000 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before…

    REDWOOD CITY, Calif., July 13, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit elusive frontier targets within notorious cancer pathways, today announced the closing of an underwritten public offering of 6,900,000 shares of common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. The shares of common stock issued and sold in the offering include 900,000 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, were $179.4 million. All shares in the offering were offered by Revolution Medicines.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities acted as the joint book-running managers for the offering.

    A registration statement relating to the shares sold in this offering was declared effective by the Securities and Exchange Commission on July 8, 2020. The offering was made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to the business of the Company in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, the prospectus for this offering filed with the SEC on July 9, 2020, and its future periodic reports to be filed with the SEC.

    Contacts
    
    Vida Strategic Partners
    
    Stephanie Diaz (Investors)
    415-675-7401
    sdiaz@vidasp.com
    
    Tim Brons (Media)
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  28. REDWOOD CITY, Calif., July 08, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the pricing of its underwritten public offering of 6,000,000 shares of common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected…

    REDWOOD CITY, Calif., July 08, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced the pricing of its underwritten public offering of 6,000,000 shares of common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected to be approximately $156.0 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on July 13, 2020, subject to customary closing conditions.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the offering.

    A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on July 8, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected completion and timing of closing of the public offering.  Such forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to the business of the Company in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, the preliminary prospectus for this offering included as part of the Registration Statement on Form S-1 related to the offering filed with the SEC on July 6, 2020, and its future periodic reports to be filed with the SEC.

    Contacts
    
    Vida Strategic Partners
    
    Stephanie Diaz (Investors)
    415-675-7401
    sdiaz@vidasp.com
    
    Tim Brons (Media)
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  29. REDWOOD CITY, Calif., July 06, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced that it has commenced an underwritten public offering of 5,500,000 shares of common stock. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. The offering is being made only by…

    REDWOOD CITY, Calif., July 06, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD) today announced that it has commenced an underwritten public offering of 5,500,000 shares of common stock. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding completion, timing and size of the proposed public offering that involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to the business of the Company in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, the preliminary prospectus for this offering included as part of the Registration Statement on Form S-1 related to the proposed offering filed with the SEC on July 6, 2020, and its future periodic reports to be filed with the SEC.

    Contacts
    
    Vida Strategic Partners
    
    Stephanie Diaz (Investors)
    415-675-7401
    sdiaz@vidasp.com
    
    Tim Brons (Media)
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  30. REDWOOD CITY, Calif. and BOSTON, June 30, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the publication of an original scientific paper in the Proceedings of the National Academy of Sciences. The report describes a natural compound (WDB002) and semi-synthetic analogues that potently bind and inhibit human centrosomal protein 250 (CEP250) by forming tri-complexes with an intracellular chaperone protein. This finding represents an example of high-affinity binding to protein domains known as "coiled coils" that are notoriously refractory to conventional drug discovery approaches, and highlights the…

    REDWOOD CITY, Calif. and BOSTON, June 30, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the publication of an original scientific paper in the Proceedings of the National Academy of Sciences. The report describes a natural compound (WDB002) and semi-synthetic analogues that potently bind and inhibit human centrosomal protein 250 (CEP250) by forming tri-complexes with an intracellular chaperone protein. This finding represents an example of high-affinity binding to protein domains known as "coiled coils" that are notoriously refractory to conventional drug discovery approaches, and highlights the potential for this binding modality to be useful in developing drugs against difficult disease targets. Additionally, CEP250 was described by scientists at the University of California, San Francisco as an interaction partner of the Nsp13 protein of SARS-CoV-2, the virus causing the global COVID-19 pandemic. This raises the possibility that CEP250 may be a relevant disease target against COVID-19 and that WDB002 may be a useful starting point for new antiviral drug candidates.

    Revolution Medicines has licensed intellectual property to Ginkgo Bioworks, the organism company, to develop WDB002 and its related compounds as possible therapeutics to treat infectious disease. Last year, Ginkgo Bioworks acquired Revolution Medicines' genome mining platform, a technology that enables the discovery and development of novel natural product therapeutics. Ginkgo is expanding research into WDB002 and related compounds for possible applications against COVID-19.

    "While Revolution Medicines remains focused on our mission of developing targeted oncology therapies using advanced approaches such as tri-complex inhibitors against frontier cancer targets, we also recognize the potential relevance of these latest research findings to the ongoing battle against COVID-19. We acted swiftly to get this intellectual property into the hands of the Ginkgo Bioworks team, which has shown a commitment to applying its broad expertise in synthetic biology to infectious disease research and development," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "We believe this cooperative approach will facilitate effective partnerships with the broader scientific community to speed discoveries that may be impactful in this public health crisis and beyond."



    "We remain committed to doing our part to address the COVID-19 pandemic," said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. "Based on the early findings from this paper, we are synthesizing these compounds and screening them to validate their potential as novel antiviral therapeutics. If successful, we hope to collaborate with a pharmaceutical partner to quickly and effectively develop the drug candidate."

    The paper published in the Proceedings of the National Academy of Sciences is titled, "Genomic discovery of an evolutionarily programmed modality for small-molecule targeting of an intractable protein surface," and can be accessed at: https://www.pnas.org/content/early/2020/06/29/2006560117

    About WDB002 and CEP250 Binding Compounds

    WDB002 was discovered by scientists at Warp Drive Bio, a subsidiary of Revolution Medicines, using proprietary genome mining technology. It is a natural compound produced by certain bacteria that binds to and inhibits the function of CEP250, a core centrosomal protein that plays a role in interphase of the cell cycle. WDB002 binds to a featureless "coiled coil" domain of CEP250 with very high affinity by forming a tri-complex that exploits the surfaces of both CEP250 and an abundant cellular chaperone protein (called FKBP12) as its ligand-binding pocket. These scientists further created modified variants of the natural product with similar CEP250 binding activity. Revolution Medicines utilizes its proprietary tri-complex technology platform to design novel targeted therapies that inhibit elusive frontier cancer targets such as oncogenic RAS(ON) proteins.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade. These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    About Ginkgo Bioworks

    Headquartered in Boston, Ginkgo Bioworks uses the most advanced technology on the planet—biology—to grow better products. The company's cell programming platform is enabling the growth of biotechnology across diverse markets, from food to fragrance to pharmaceuticals. Ginkgo is also actively supporting a number of COVID-19 response efforts, including community testing, epidemiological tracing, vaccine development and therapeutics discovery. For more information, visit www.ginkgobioworks.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' tri-complex technology, including without limitation application of this technology to oncogenic RAS proteins or proteins like CEP250, or other disease targets; WDB002 and analogues thereof, including their usefulness as a starting point for new antiviral drug candidates; the applicability of Revolution Medicines' technologies to the ongoing battle against COVID-19; and the ability to facilitate partnerships that speed discoveries that are impactful to public health. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Annual Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission (SEC). Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners (on behalf of Revolution Medicines)
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners (on behalf of Revolution Medicines)
    Tim Brons
    415-675-7402
    tbrons@vidasp.com
    
    Ginkgo Bioworks 
    Jordyn Lee 
    ginkgobioworks@missionnorth.com

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  31. REDWOOD CITY, Calif., June 22, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today provided a research and development (R&D) update regarding the company's innovative portfolio directed against RAS cancers.

    The R&D update covers the latest developments across certain of the company's programs including:

    • Update on the broad RMC-4630 clinical development program, including new data sets from the ongoing Phase 1 monotherapy clinical trial (RMC-4630-01)

      -  New pharmacokinetic profiles and improved tolerability with intermittent dosing schedules

      -  Expanded experience of anti-tumor activity in non-small cell…

    REDWOOD CITY, Calif., June 22, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today provided a research and development (R&D) update regarding the company's innovative portfolio directed against RAS cancers.

    The R&D update covers the latest developments across certain of the company's programs including:

    • Update on the broad RMC-4630 clinical development program, including new data sets from the ongoing Phase 1 monotherapy clinical trial (RMC-4630-01)



      -  New pharmacokinetic profiles and improved tolerability with intermittent dosing schedules



      -  Expanded experience of anti-tumor activity in non-small cell lung cancer patients carrying KRAS mutations



      -  New anti-tumor activity in patients carrying NF1LOF mutations



      -  Recap of recent RMC-4630-related announcements with update on overall program status
    • Highlights of in vivo preclinical data demonstrating induction of anti-tumor immunity via adaptive and innate immune systems by SHP2 inhibitor monotherapy and combination treatment with a checkpoint inhibitor, as reported in a recent publication by company scientists in Cancer Research

       
    • New in vivo data on dual targeted therapy with mTORC1-selective inhibitor and KRASG12C(OFF) inhibitor in preclinical models of resistance to monotherapy

       
    • New in vivo data on pharmacokinetic profile and anti-tumor responses to oral administration of novel KRASG12C(ON) inhibitor

    To access full details of the R&D update, please review the company's investor presentation within the investor section of the company's website at: https://ir.revmed.com/events-and-presentations. The updated presentation has also been furnished with the U.S. Securities and Exchange Commission (SEC).

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway and the related mTOR signaling cascade. These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, clinical activity and tolerability of RMC-4630, preclinical activity and pharmacokinetic data regarding Revolution Medicines' product candidates, the potential benefits of, and markets for, Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

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  32. REDWOOD CITY, Calif., June 22, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced dosing of the first patient in a multicenter Phase 1 clinical trial evaluating the combination of RMC-4630 (SAR442720), the company's investigational SHP2 inhibitor, and pembrolizumab (Keytruda®), an anti-PD-1 antibody. The trial, which is being sponsored and conducted by the company's collaboration partner Sanofi, is an open-label, safety, preliminary efficacy and pharmacokinetics study in participants with advanced malignancies. This will include patients with non-small cell lung cancer (NSCLC) who have progressed on…

    REDWOOD CITY, Calif., June 22, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced dosing of the first patient in a multicenter Phase 1 clinical trial evaluating the combination of RMC-4630 (SAR442720), the company's investigational SHP2 inhibitor, and pembrolizumab (Keytruda®), an anti-PD-1 antibody. The trial, which is being sponsored and conducted by the company's collaboration partner Sanofi, is an open-label, safety, preliminary efficacy and pharmacokinetics study in participants with advanced malignancies. This will include patients with non-small cell lung cancer (NSCLC) who have progressed on or after platinum-based chemotherapy, and patients with colorectal cancer who have progressed on or after standard of care therapy.

    RMC-4630 (SAR442720) is a potent and orally bioavailable small molecule that is designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a central role in modulating cell survival and growth by transmitting signals from receptor tyrosine kinases to RAS. Pembrolizumab, a humanized antibody used in cancer immunotherapy, is designed to selectively inhibit the activity of PD-1, a key immune checkpoint that can prevent the immune system from targeting and killing cancer cells. Pembrolizumab is an approved standard of care for the treatment of NSCLC, including lung cancers harboring RAS pathway mutations.

    The company's recently published research in the journal Cancer Research described the anti-tumor effects of a SHP2 inhibitor such as RMC-4630 (SAR442720) through modulation of key elements of the immune system in preclinical cancer models. These findings demonstrated that inhibition of SHP2 may exert therapeutic anti-tumor effects by modulating multiple arms of the immune response to the tumor in addition to reducing oncogenic signaling within tumor cells themselves. Importantly, these data indicate that these two mechanisms may be additive in their anti-tumor impact. Additionally, company findings from the same preclinical study showed that when the SHP2 inhibitor was combined with an immune checkpoint inhibitor (anti-PD-1), deep and durable tumor growth inhibition was observed, with complete tumor regressions and sustained immunological memory in some mice.

    "We have previously shown, in a preliminary report, that RMC-4630 (SAR442720) has activity against NSCLC bearing mutant RAS. There is also a compelling collection of data suggesting that the simultaneous inhibition of SHP2 and PD-1 may drive enhanced anti-tumor activity through potentially complementary mechanisms of action," said Steve Kelsey, M.D., president, research and development at Revolution Medicines. "Overall, this scientific foundation, and the possibility of combining two agents with activity in RAS-driven tumors, serves as a strong rationale for the clinical trial evaluating the combination of RMC-4630 (SAR442720) and pembrolizumab in patients with solid tumors, including NSCLC, and we look forward to the study results."

    "We believe that SHP2's key roles within both the RAS signaling pathway and the immune response to tumors support the potential for RMC-4630 (SAR442720) to serve as the backbone of targeted therapy combinations for the treatment of various RAS-dependent tumors," stated Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "With these compelling findings, we are committed to evaluating broadly the combination of RMC-4630 (SAR442720) with inhibitors of other key oncogenic targets within the RAS signaling pathway and with other anti-cancer approaches such as immune checkpoint inhibitors, including anti-PD-1 antibodies."

    About RMC-4630 and Sanofi Collaboration

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, a Phase 1b/2 study (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations, a Phase 1b study (CodeBreaK 101) in combination with AMG 510 in patients with advanced solid tumors harboring the KRASG12C mutation, and a Phase 1 study in combination with pembrozilumab in patients with advanced malignancies.  

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway and the related mTOR signaling cascade. These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Keytruda® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, including without limitation the planned clinical study of RMC-4630 in combination with a PD-1 inhibitor, pembrolizumab, the potential anti-tumor mechanisms for SHP2 inhibitors, including potential enhanced anti-tumor activity when combined with an immune checkpoint inhibitor, Revolution Medicines' goal of evaluating broadly the combination of RMC-4630 with inhibitors of other oncogenic targets within the RAS signaling pathway and with other anti-cancer approaches, and the potential benefits of, and markets for, Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resouces to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  33. REDWOOD CITY, Calif., June 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the appointments of Eric T. Schmidt, Ph.D., and Peter Svennilson to its board of directors. Dr. Schmidt and Mr. Svennilson are widely respected executives with extensive Wall Street and financial markets experience in the biopharmaceutical industry. Mr. Svennilson was appointed to fill the vacancy created by the resignation of Larry Lasky, Ph.D., who stepped down from the board of directors and will continue supporting the company as a scientific advisor.

    "Eric and Peter will each strengthen our board's financial expertise…

    REDWOOD CITY, Calif., June 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the appointments of Eric T. Schmidt, Ph.D., and Peter Svennilson to its board of directors. Dr. Schmidt and Mr. Svennilson are widely respected executives with extensive Wall Street and financial markets experience in the biopharmaceutical industry. Mr. Svennilson was appointed to fill the vacancy created by the resignation of Larry Lasky, Ph.D., who stepped down from the board of directors and will continue supporting the company as a scientific advisor.

    "Eric and Peter will each strengthen our board's financial expertise as Revolution Medicines continues maturing as a public company. In particular, Eric brings deep Wall Street insight from his tenure as a highly regarded sell-side biotechnology analyst and more recently as the chief financial officer of Allogene Therapeutics, a leading cell therapy company. Similarly, Peter brings considerable financial and transactional expertise based on his career as an investment banker, founder and a managing partner of The Column Group, and director for multiple successful biotechnology companies," said Mark A. Goldsmith, M.D., Ph.D., chairman, chief executive officer and president of Revolution Medicines. "We look forward to the positive impact we expect both of these accomplished individuals will have as we continue to build on our company's momentum. We appreciate Larry's service on our board during our formative years, and we are pleased he will continue to draw from his vast scientific knowledge on our behalf."

    Dr. Schmidt currently serves as the chief financial officer of Allogene Therapeutics, a clinical-stage biotechnology company pioneering the development of allogeneic cell therapies for cancer. Previously, he was managing director and senior biotechnology analyst at Cowen and Company. During his two decades at Cowen, he was a highly trusted industry analyst whose work was recognized in polls conducted by The Wall Street Journal, Reuters, Alpha Magazine, and Institutional Investor. Prior to joining Cowen in 1998, Dr. Schmidt was vice president and research analyst covering the biotechnology sector at UBS Securities. Dr. Schmidt holds a bachelor's degree in chemistry from the University of Pennsylvania and a Ph.D. in biochemistry from the Massachusetts Institute of Technology, where he serves on the visiting committee for the department of biology. He also serves on the board of directors for Relmada Therapeutics, Inc.

    Mr. Svennilson founded The Column Group (TCG) in 2007 and has worked in venture capital and finance for more than 35 years. He served as the chairman of Aragon Pharmaceuticals from the company's founding until it was sold to Johnson & Johnson in 2013, chairman of Seragon Pharmaceuticals until its sale to Genentech/Roche in 2014, and director of Constellation Pharmaceuticals until 2019. Prior to TCG, he was founder and managing partner of Three Crowns Capital where he played a key role in the venture financings for biotech companies such as Tularik, Rosetta, PTC, Chemocentryx, Rinat, Tercica, Somalogic, Infinity and Five Prime Therapeutics. Before Three Crowns Capital, Mr. Svennilson was the associate managing director in charge of European Investment Banking Origination at Nomura in London. He currently serves on the boards of ORIC Pharmaceuticals, Ribon Therapeutics, Circle Pharma and Carmot Therapeutics, and is a trustee at The Institute for Advanced Study in Princeton, New Jersey. Mr. Svennilson holds a B.S. and an M.B.A. from the Stockholm School of Economics and Finance.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway and the related mTOR signaling cascade. These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' ability to continue to build on its momentum, its maturing as a public company and the impact of new members of its board of directors. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resouces to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

     

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

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  34. Study Evaluates Combination Treatment with Investigational SHP2 and KRASG12C Inhibitors in Patients with KRASG12C Mutant Solid Tumors

    REDWOOD CITY, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced dosing of the first patient in a Phase 1b clinical trial evaluating the combination of RMC-4630, the company's investigational SHP2 inhibitor, and AMG 510, Amgen's investigational KRASG12C inhibitor. The trial, which is being sponsored and conducted by Amgen with clinical supply of RMC-4630 provided by Revolution Medicines, is an open-label, dose-escalation and dose-expansion study evaluating…

    Study Evaluates Combination Treatment with Investigational SHP2 and KRASG12C Inhibitors in Patients with KRASG12C Mutant Solid Tumors

    REDWOOD CITY, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced dosing of the first patient in a Phase 1b clinical trial evaluating the combination of RMC-4630, the company's investigational SHP2 inhibitor, and AMG 510, Amgen's investigational KRASG12C inhibitor. The trial, which is being sponsored and conducted by Amgen with clinical supply of RMC-4630 provided by Revolution Medicines, is an open-label, dose-escalation and dose-expansion study evaluating the safety, tolerability, pharmacokinetics, and efficacy of the combination of RMC-4630 and AMG 510 in patients with advanced solid tumors harboring the KRASG12C mutation.

    RMC-4630 is a potent and orally bioavailable small molecule that is designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a central role in modulating cell survival and growth by transmitting signals from receptor tyrosine kinases to RAS. AMG 510 is a first-in-class investigational oral therapy designed to selectively and irreversibly target the KRASG12C protein, an oncogenic RAS mutant at the core of the RAS signaling cascade.

    Preclinical and clinical research has shown that cancers caused by RAS pathway mutations exhibit "oncogene addiction," in which tumor cells become highly dependent on signaling through the RAS pathway to survive. Suppressing KRASG12C activity, either directly with AMG 510 or indirectly by inhibiting SHP2 with RMC-4630, has shown anti-tumor activity against non-small cell lung tumors harboring KRASG12C in early clinical trials. In addition, adaptive resistance to inhibition of RAS signaling is common. SHP2 is an upstream RAS pathway node that often plays a key role in adaptive resistance, and inhibiting SHP2 with RMC-4630 has been shown preclinically to suppress adaptive resistance to KRASG12C inhibitors.

    "Our strategy is to advance a broad clinical program to assess the therapeutic potential of RMC-4630 in both monotherapy and multiple combination treatment regimens. With our recent demonstration of encouraging monotherapy activity for RMC-4630 against KRASG12C lung cancers, it is compelling to pair this investigational drug with KRASG12C inhibitors such as AMG 510," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "This collaborative trial sponsored by Amgen, a leader in the field, will help test our hypothesis that RMC-4630 may be useful as the backbone of targeted therapy combinations for the treatment of various RAS-dependent tumors."

    "RMC-4630 and AMG 510 have each demonstrated activity in early-stage clinical trials in patients with KRASG12C tumors," stated Steve Kelsey, M.D., president, research and development at Revolution Medicines. "Initiation of this trial is an important step in the evaluation of this combination and its potential to treat RAS-dependent cancers by simultaneously inhibiting the activity of different oncogenic targets within the RAS signaling cascade."

    About RMC-4630 and Sanofi Collaboration

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, a Phase 1b/2 study (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations, and in the recently initiated Amgen-sponsored Phase 1b study in combination with AMG 510 in patients with advanced solid tumors harboring the KRASG12C mutation.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2. Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway and the related mTOR signaling cascade. These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, including without limitation the planned clinical study of RMC-4630 in combination with an investigational KRASG12C inhibitor, AMG 510, the potential anti-tumor mechanisms for SHP2 inhibitors, Revolution Medicines' goal of assessing  the therapeutic potential of RMC-4630 as monotherapy or in combination treatment regimens to treat RAS pathway cancer, and the potential benefits of, and markets for, Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resouces to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

    View Full Article Hide Full Article
  35. REDWOOD CITY, Calif., May 19, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the company will make four presentations at the upcoming 2020 American Association for Cancer Research (AACR) Virtual Annual Meeting II being held June 22-24, 2020. 

    Details of the planned presentations are as follows:

    Poster Presentations:  
       
    Title: SHP2 inhibition as the backbone of targeted therapy combinations for the treatment of cancers driven by oncogenic mutations in the RAS pathway
    Abstract: 1943
    Session: Small Molecule Therapeutic Agents
    Date: June 22, 2020
       
    Title: Positioning a selective, bi-steric inhibitor

    REDWOOD CITY, Calif., May 19, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the company will make four presentations at the upcoming 2020 American Association for Cancer Research (AACR) Virtual Annual Meeting II being held June 22-24, 2020. 

    Details of the planned presentations are as follows:

    Poster Presentations:  
       
    Title: SHP2 inhibition as the backbone of targeted therapy combinations for the treatment of cancers driven by oncogenic mutations in the RAS pathway
    Abstract: 1943
    Session: Small Molecule Therapeutic Agents
    Date: June 22, 2020
       
    Title: Positioning a selective, bi-steric inhibitor of mTORC1 as a combination partner in RAS-driven cancers
    Abstract: LB-113
    Session: Late-Breaking Research: Experimental and Molecular Therapeutics 2
    Date: June 22, 2020
       
    Title: Dual inhibition of SHP2 and CDK4/6 leads to immunological memory and immune-mediated anti-tumor activity in a mouse syngeneic model of breast cancer
    Abstract: 2837
    Session: Tumor-Immune System Interactions 2
    Date: June 22, 2020


    Educational Session Presentation:

    Title: Discovery and development of allosteric inhibitors of SHP2
    Session: Chemistry to the Clinic: Part 1: Lead Optimization Case Studies in Cancer Drug Discovery

    Additional information on the 2020 AACR Virtual Annual Meeting II is available through the AACR website at https://www.aacr.org/meeting/aacr-annual-meeting-2020/aacr-virtual-annual-meeting-ii/

    Additionally, the company announced its intention to host a conference call following the conclusion of the 2020 AACR Virtual Annual Meeting II during which it will provide a research and development update including selected highlights from the company's meeting presentations, as well as additional information on its pipeline of targeted cancer therapies.  Additional details on the planned call will be provided in advance of the AACR Virtual Annual Meeting II.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate, partnered with Sanofi, that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' planned R&D update. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events. 

    Contacts:
    
    For Investors:
    Vida Strategic Partners 
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
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    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  36. Closed Initial Public Offering Raising Gross Proceeds of $273.7 Million

    Presented First Evidence of Clinical Activity of SHP2 Inhibitor (RMC-4630) Against KRAS Mutant Lung Cancers

    Preclinical Programs Continue to Advance in Support of Monotherapy and Combination Therapy Strategies for RAS Tumors

    REDWOOD CITY, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced its financial results for the first quarter ended March 31, 2020, and provided an update on its R&D pipeline and other corporate developments.

    Highlights from the Quarter Ended March 31, 2020

    "Revolution Medicines achieved important…

    Closed Initial Public Offering Raising Gross Proceeds of $273.7 Million

    Presented First Evidence of Clinical Activity of SHP2 Inhibitor (RMC-4630) Against KRAS Mutant Lung Cancers

    Preclinical Programs Continue to Advance in Support of Monotherapy and Combination Therapy Strategies for RAS Tumors

    REDWOOD CITY, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced its financial results for the first quarter ended March 31, 2020, and provided an update on its R&D pipeline and other corporate developments.

    Highlights from the Quarter Ended March 31, 2020

    "Revolution Medicines achieved important scientific, clinical and operational milestones during this quarter," said Mark A. Goldsmith, M.D., Ph.D., president, chief executive officer and chairman of Revolution Medicines.  "In January, we presented initial data from our ongoing Phase 1 monotherapy trial evaluating our investigational new drug designed to inhibit SHP2, RMC-4630, in patients with KRAS mutant non-small cell lung cancer (NSCLC) at the AACR-IASLC International Joint Conference.  The findings represent the first reported evidence of clinical activity against KRAS mutant lung cancers by a SHP2 inhibitor, as well as initial evidence of the potential benefit of an intermittent dosing schedule.  Our ongoing Phase 1/2 clinical program evaluating RMC-4630 in a range of tumor types continues to advance and enrollment has been in line with our expectations.  We also continued to make progress across our broad preclinical pipeline that supports our strategy to target multiple nodes in the oncogenic RAS pathway and bring forward potential monotherapies and combination treatment regimens. During the period, the company also completed a successful IPO, raising gross proceeds of more than $273 million.  Revolution Medicines' strong balance sheet will support continued development of our promising pipeline on behalf of cancer patients."

    "We acknowledge the severe health and economic impact of the COVID-19 pandemic we are all experiencing and the burden it has placed on our healthcare system and the clinical trial landscape.  Early on, Revolution Medicines made appropriate adjustments to our operating approach, and we've continued to make progress on both our preclinical and clinical programs.  At present, we do not expect material delays in our ongoing clinical trials, but it is reasonable to anticipate that for planned future studies some site initiations may be delayed, and enrollment may be slowed for some period of time.  We are continuing to refine our approach as needed to minimize these impacts." 

    Scientific and Clinical Highlights

    • Revolution Medicines demonstrates first ever clinical activity against KRAS mutant lung cancers with SHP2 inhibitor - In January 2020, at the 6th AACR-IASLC International Joint Conference, the company presented preliminary evidence demonstrating that RMC-4630, the company's investigational SHP2 inhibitor, showed initial clinical activity in patients with NSCLC bearing KRAS mutations, particularly KRASG12C.  Findings also demonstrated the potential benefit of an intermittent RMC-4630 dosing schedule.
       
    • RMC-4630 clinical program continues to advance – Revolution Medicines continues to explore optimal dosing and scheduling of RMC-4630 in both its ongoing Phase 1 monotherapy and Phase 1b/2 combination therapy trials.  The company plans to expand its RMC-4630 combination therapy program and is prepared for the initiation of new studies evaluating the compound in combination with Amgen's investigational KRASG12C(OFF) inhibitor, AMG 510, with the EGFR inhibitor osimertinib (Tagrisso®), and with a PD-1 inhibitor.  While the COVID-19 pandemic may indirectly cause some delays in the initiation of new clinical studies, the company currently expects enrollment in these studies to begin in 2020.
       
    • RMC-5552 - IND-enabling work continuing - RMC-5552, the company's potent and selective inhibitor of mTORC1, continues to advance through investigational new drug (IND)-enabling development.  The company remains on track to be IND-ready with this compound by the end of 2020.
       
    • Mutant-selective RAS(ON) inhibitor program advancing; development candidate to be nominated - Revolution Medicines is developing a portfolio of mutant-selective RAS(ON) inhibitors that it believes may be the first potent, selective, cell-active inhibitors of the active, GTP-bound form of RAS, or RAS(ON). The company continues to make significant progress toward optimizing key properties of such inhibitors.  In line with previous projections, the company continues to anticipate nomination of its first development candidate from this portfolio in 2020.
       
    • SOS1 inhibitor program advances into lead optimization.  Revolution Medicines' program targeting SOS1, a protein that plays a central role in driving oncogenic signals through the RAS pathway, continues to advance.  Our growing collection of potent and selective inhibitors exhibiting attractive preclinical profiles has enabled the program to progress into the lead optimization stage in pursuit of a development candidate.
       
    • Findings recently published in Cancer Research support combination of RMC-4630 with an anti-PD-1 antibody – In a paper published on April 29, 2020, Revolution Medicines researchers described ways in which a SHP2 inhibitor enhances the immune response to tumors, representing a second group of anti-tumor mechanisms beyond its direct effects within cancer cells themselves.  The paper also reported deep and durable tumor growth inhibition following combination treatment with a SHP2 inhibitor and anti-PD-1 inhibitor in mouse cancer models, yielding complete tumor regressions and sustained immunological memory. 
       
    • Multiple abstracts selected for presentation at upcoming American Association of Cancer Research (AACR) Virtual Annual Meeting II – Revolution Medicines has been notified that four of the company's submissions have been selected for presentation at the upcoming virtual AACR meeting scheduled to take place in June 2020.  Titles and abstracts of these presentations will be disclosed by AACR on May 15, 2020. 
       
    • Anticipated Scientific and Clinical 2020 Milestones
      • Clinical data update from RMC-4630 program
      • Clinical trial initiations:
        • RMC-4630 combination with AMG 510
        • RMC-4630 combination with osimertinib
        • RMC-4630 combination with PD-1 inhibitor
      • Nomination of first development candidate for RAS(ON) inhibitor program
      • RMC-5552 IND-readiness

    Corporate Highlights

    • Closed initial public offering - In February 2020, Revolution Medicines closed its initial public offering of 16,100,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase an additional 2,100,000 shares of common stock, at a public offering price of $17.00 per share. The gross proceeds from the offering were $273.7 million, before deducting underwriting discounts, commissions and other offering expenses payable by Revolution Medicines.

    The company expects to use the net proceeds from this offering to fund the development of its multiple RAS inhibitor programs, including the RAS(ON) portfolio, SOS1 inhibitor program, and 4EBP1/mTORC1 program, and other general corporate purposes, which may include the hiring of additional personnel, capital expenditures and the costs of operating as a public company.

    • USPTO grants key RMC-4630 patent – In March 2020, the United States Patent and Trademark Office issued U.S. Patent No. 10,590,090 to the company, providing, in part, composition of matter protection for its SHP2 inhibitors, including RMC-4630.
       
    • Facilities Expansion – To support Revolution Medicines' expanding operations, the company completed a lease transaction in April 2020 that will provide an additional 19,483 square feet in Redwood City, CA.  The company campus now includes two buildings that house office, laboratory and research and development space.

    Q1 2020 Financial Highlights

    Cash Position: Cash, cash equivalents and marketable securities were $347.9 million as of March 31, 2020, compared to $122.8 million as of December 31, 2019. The increase was primarily due to proceeds from the IPO in February 2020.

    Revenue: Total revenue, consisting of revenue from our collaboration agreement with Sanofi, was $11.5 million for the quarter ended March 31, 2020, compared to $13.2 million for the quarter ended March 31, 2019. This decrease was primarily due to lower reimbursed research and development services in the quarter ended March 31, 2020 resulting from lower manufacturing costs. During the quarter ended March 31, 2019, we incurred upfront manufacturing costs related to the supply of RMC-4630 for our clinical trials. 

    R&D Expenses: Research and development expenses were $27.5 million for the quarter ended March 31, 2020, compared to $21.2 million for the quarter ended March 31, 2019. This increase was primarily due to an increase in research expenses associated with our RAS inhibitor programs.

    G&A Expenses: General and administrative expenses were $5.2 million for the quarter ended March 31, 2020, compared to $2.4 million for the quarter ended March 31, 2019. This increase was primarily due to an increase in expenses associated with transitioning to and becoming a public company.

    Net Loss: Net loss was $19.5 million for the quarter ended March 31, 2020, compared to net loss of $10.1 million for the quarter ended March 31, 2019.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate, partnered with Sanofi, that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Tagrisso® is a registered trademark of the AstraZeneca group of companies. 

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, Revolution Medicines' planned clinical data update in 2020, Revolution Medicines' plans to initiate clinical trials evaluating RMC-4630 in combination with (i) AMG 510, (ii) osimertinib and (iii) a PD-1 inhibitor, Revolution Medicines' plan to nominate a development candidate from its RAS(ON) inhibitor program and Revolution Medicines' plan to be IND-ready with RMC-5552 in 2020. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.


    REVOLUTION MEDICINES, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share data)
    (unaudited)

        Three Months Ended March 31,  
        2020     2019  
    Revenue:                
    Collaboration revenue, related party   $ 11,546     $ 13,166  
    Total revenue     11,546       13,166  
    Operating expenses:                
    Research and development     27,457       21,186  
    General and administrative     5,171       2,416  
    Total operating expenses     32,628       23,602  
    Loss from operations     (21,082 )     (10,436 )
    Other income (expense), net:                
    Interest income     909       335  
    Interest and other expense     (21 )     (30 )
    Total other income (expense), net     888       305  
    Loss before income taxes     (20,194 )     (10,131 )
    Benefit from income taxes     675       -  
    Net loss   $ (19,519 )   $ (10,131 )
    Redeemable convertible preferred stock dividends -  undeclared and cumulative     (2,219 )     (2,676 )
    Net loss attributable to common stockholders   $ (21,738 )   $ (12,807 )
    Net loss per share attributable to common stockholders - basic and diluted   $ (0.74 )   $ (4.84 )
    Weighted-average common shares used to compute net loss per share, basic and diluted     29,297,698       2,643,649  


    REVOLUTION MEDICINES, INC.
    SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, unaudited)

        March 31,   December 31,  
        2020   2019  
                   
    Cash, cash equivalents and marketable securities   $ 347,948   $ 122,758  
    Working capital (1)     320,572     90,929  
    Total assets     454,341     220,529  
    Deferred revenue     28,818     31,851  
    Total liabilities     69,025     67,994  
    Redeemable convertible preferred stock         305,109  
    Total stockholders' equity (deficit)     385,316     (152,574 )

    (1) Working capital is defined as current assets less current liabilities.

     

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  37. REDWOOD CITY, Calif., April 29, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the publication of an original scientific paper in Cancer Research, a journal of the American Association for Cancer Research, describing anti-tumor effects of a SHP2 inhibitor through modulation of key elements of the immune system in preclinical cancer models.  These findings demonstrate that inhibition of SHP2, a cellular protein that plays a central role in cell survival and growth, may exert therapeutic anti-tumor effects by modulating multiple arms of the immune response to the tumor in addition to reducing oncogenic…

    REDWOOD CITY, Calif., April 29, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced the publication of an original scientific paper in Cancer Research, a journal of the American Association for Cancer Research, describing anti-tumor effects of a SHP2 inhibitor through modulation of key elements of the immune system in preclinical cancer models.  These findings demonstrate that inhibition of SHP2, a cellular protein that plays a central role in cell survival and growth, may exert therapeutic anti-tumor effects by modulating multiple arms of the immune response to the tumor in addition to reducing oncogenic signaling within tumor cells themselves.  Importantly, these data indicate that these two mechanisms may be additive in their anti-tumor impact. 

    Revolution Medicines is currently evaluating RMC-4630, its potent and orally bioavailable investigational small molecule designed to selectively inhibit the function of SHP2, in a multi-cohort Phase 1/2 clinical program in patients with advanced tumors.  The company and its collaboration partner Sanofi intend to expand this clinical program to include a study evaluating a combination of RMC-4630 with an anti-PD-1 antibody.

    It is well established that tumors often induce an immune-suppressive environment that allows cancer cells to remain shielded from anti-tumor immunity. In the published study, researchers at Revolution Medicines evaluated the impact of SHP2 inhibition on the tumor microenvironment in preclinical cancer models. Treatment with a SHP2 inhibitor was found to alter the tumor microenvironment by depleting a type of immune cells known as pro-tumorigenic macrophages, while increasing infiltration of the tumors by anti-tumor immune cells known as T cells. These changes in the immune response profile resulted in tumor growth inhibition in preclinical models.  Furthermore, when the SHP2 inhibitor was combined with an immune checkpoint inhibitor (anti-PD-1), deep and durable tumor growth inhibition was observed, with complete tumor regressions and sustained immunological memory in some mice.

    "This study elucidates a potentially important second anti-tumor mechanism for SHP2 inhibitors such as RMC-4630 through reversal of the immune-suppressive tumor microenvironment leading to a more effective immune response to the tumor," said Steve Kelsey, M.D., president of research and development at Revolution Medicines. "We believe the particularly deep tumor reduction we observed following treatment with inhibitors of both SHP2 and an immune checkpoint provides a strong rationale for our plan to conduct a clinical trial evaluating dual treatment with RMC-4630 and an anti-PD-1 antibody in patients with solid tumors." 

    The paper published in Cancer Research is titled, "Allosteric inhibition of SHP2 stimulates anti-tumor immunity by transforming the immunosuppressive environment," and can be accessed at: https://cancerres.aacrjournals.org/content/early/2020/04/28/0008-5472.CAN-19-3038

    About RMC-4630 and Sanofi Collaboration

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, as well as a Phase 1b/2 study (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations.  A planned combination study of RMC-4630 and the KRASG12C(OFF) inhibitor, AMG 510, to be sponsored by Amgen, has been announced previously.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, including without limitation the intention of Revolution Medicines and its collaboration partner Sanofi to expand the RMC-4630 clinical program to include a study evaluating a combination of RMC-4630 with an anti-PD-1 antibody, the potential anti-tumor mechanisms for SHP2 inhibitors, Revolution Medicines' goal of identifying and evaluating promising rational combination therapies featuring RMC-4630 to treat RAS pathway cancers and the potential benefits of Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  38. REDWOOD CITY, Calif., March 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced that the United States Patent and Trademark Office has issued U.S. Patent No. 10,590,090 providing, in part, composition of matter protection for its SHP2 inhibitors, including RMC-4630.  RMC-4630, the company's investigational SHP2 inhibitor, is a potent and orally bioavailable small molecule that is designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a central role in modulating cell survival and growth by transmitting signals from receptor tyrosine kinases to RAS.   

    "We have…

    REDWOOD CITY, Calif., March 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced that the United States Patent and Trademark Office has issued U.S. Patent No. 10,590,090 providing, in part, composition of matter protection for its SHP2 inhibitors, including RMC-4630.  RMC-4630, the company's investigational SHP2 inhibitor, is a potent and orally bioavailable small molecule that is designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a central role in modulating cell survival and growth by transmitting signals from receptor tyrosine kinases to RAS.   

    "We have systematically built our SHP2 program intellectual property portfolio while advancing RMC-4630 in a multi-cohort Phase 1/2 clinical program.  This patent reflects innovative work and provides important coverage for our SHP2 program compounds, including RMC-4630," said Mark A. Goldsmith, M.D., Ph.D., president and chief executive officer of Revolution Medicines. 

    About RMC-4630 and Sanofi Collaboration

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, as well as a Phase 1b/2 study (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations.  A planned combination study of RMC-4630 and the KRASG12C(OFF) inhibitor, AMG 510, to be sponsored by Amgen, has been announced previously.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, including without limitation Revolution Medicines' intellectual property strategy, and the potential benefits of, and markets for, Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts and changes in the competitive landscape. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' prospectus filed with the Securities and Exchange Commission on February 13, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

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  39. REDWOOD CITY, Calif., March 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced its intention to support the Netherlands Cancer Institute (NKI) on a combination clinical study targeting two key nodes in the oncogenic RAS signaling pathway and to supply its investigational SHP2 inhibitor, RMC-4630, for this study. In addition, the American Association for Cancer Research (AACR) announced that the Pancreatic Cancer Collective, a strategic partnership of Stand Up To Cancer (SU2C) and the Lustgarten Foundation, has awarded up to $4 million in funding to researchers at the NKI to support the combination…

    REDWOOD CITY, Calif., March 09, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit frontier cancer targets, today announced its intention to support the Netherlands Cancer Institute (NKI) on a combination clinical study targeting two key nodes in the oncogenic RAS signaling pathway and to supply its investigational SHP2 inhibitor, RMC-4630, for this study. In addition, the American Association for Cancer Research (AACR) announced that the Pancreatic Cancer Collective, a strategic partnership of Stand Up To Cancer (SU2C) and the Lustgarten Foundation, has awarded up to $4 million in funding to researchers at the NKI to support the combination trial.  The Phase 1/1b trial would explore the combination of RMC-4630 with an investigational ERK inhibitor in solid tumors harboring RAS mutations with a focus on pancreatic cancer.  The AACR is the scientific partner of SU2C and has announced its intention to support the administration of the combination clinical study at the NKI. 

    In an oral presentation at the recent RAS-Targeted Drug Discovery Europe Conference in Vienna, Austria, Sara Mainardi, Ph.D. summarized NKI's intent to sponsor and conduct the SHERPA trial (SHP2 and ERK inhibitors in Pancreatic Cancer).  As reported in Dr. Mainardi's presentation entitled "Targeting RAS-Driven Tumour by Exploiting Vulnerabilities in the RAS Network," the NKI seeks to initiate the SHERPA trial in the second half of 2020. 

    RMC-4630, Revolution Medicines' investigational SHP2 inhibitor, is a potent and orally bioavailable small molecule that is designed to selectively inhibit the activity of SHP2, an upstream cellular protein that plays a central role in modulating cell survival and growth by transmitting signals from receptor tyrosine kinases to RAS. NKI's trial would represent a third announced combination study involving RMC-4630 in support of the company's combination drug strategy to treat RAS cancers susceptible to adaptive resistance mechanisms. 

    About RMC-4630 and Sanofi Collaboration

    RMC-4630 is currently being evaluated in a Phase 1 monotherapy clinical trial (RMC-4630-01) for a range of tumor types featuring specific, molecularly-defined oncogenic mutations, as well as a Phase 1b/2 study (RMC-4630-02) in combination with cobimetinib in patients with relapsed/refractory solid tumors displaying specific genomic mutations.  A planned combination study of RMC-4630 and the KRASG12C(OFF) inhibitor, AMG 510, to be sponsored by Amgen, has been announced previously.

    The SHP2 inhibitor program, including RMC-4630, is the focus of an exclusive global research, development and commercialization agreement with Sanofi.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Revolution Medicines' development plans and timelines, including without limitation the planned clinical study of RMC-4630 in combination with an investigational ERK inhibitor, and the potential benefits of, and markets for, Revolution Medicines' product candidates. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Revolution Medicines' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Revolution Medicines' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Revolution Medicines' capital resources to fund operations, reliance on third parties for manufacturing and development efforts and changes in the competitive landscape. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' prospectus filed with the Securities and Exchange Commission on February 13, 2020, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Vida Strategic Partners
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

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  40. REDWOOD CITY, Calif., Feb. 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit elusive frontier targets within notorious cancer pathways, today announced the closing of its initial public offering of 16,100,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase an additional 2,100,000 shares of common stock, at a public offering price of $17.00 per share. The gross proceeds from the offering were approximately $273.7 million, before deducting underwriting discounts, commissions and other offering expenses payable by Revolution Medicines. Shares of Revolution Medicines' common stock began…

    REDWOOD CITY, Calif., Feb. 18, 2020 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (NASDAQ:RVMD), a clinical-stage oncology company focused on developing targeted therapies to inhibit elusive frontier targets within notorious cancer pathways, today announced the closing of its initial public offering of 16,100,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase an additional 2,100,000 shares of common stock, at a public offering price of $17.00 per share. The gross proceeds from the offering were approximately $273.7 million, before deducting underwriting discounts, commissions and other offering expenses payable by Revolution Medicines. Shares of Revolution Medicines' common stock began trading on the Nasdaq Global Select Market on February 13, 2020 under the ticker symbol "RVMD".  All shares in the offering were offered by Revolution Medicines.

    J.P. Morgan, Cowen, SVB Leerink and Guggenheim Securities acted as joint book-running managers for the offering.

    The offering was made only by means of a prospectus.  Copies of the final prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.    

    A registration statement relating to the shares has been filed with the Securities and Exchange Commission and became effective on February 12, 2020. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Revolution Medicines, Inc.

    Revolution Medicines is a clinical-stage oncology company focused on developing novel targeted therapies to inhibit elusive high-value frontier cancer targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways. The company possesses 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.

    The company's pipeline includes RMC-4630, a clinical-stage drug candidate that is designed to selectively inhibit the activity of SHP2.  Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related mTOR signaling cascade.  These include inhibitors of multiple mutant RAS proteins and SOS1, as well as RMC-5552, a development candidate within the company's 4EBP1/mTORC1 program currently in IND-enabling studies.

    Contacts:
    
    For Investors:
    Vida Strategic Partners
    Stephanie Diaz 
    415-675-7401
    sdiaz@vidasp.com
    
    For Media:
    Tim Brons
    415-675-7402
    tbrons@vidasp.com

    Primary Logo

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