Revolution Medicines' Zoldonrasib Advances to Phase 3 for Pancreatic Cancer
RVMD has more than doubled off its 52-week low of $34.
Summary
Revolution Medicines announced its experimental drug zoldonrasib is advancing to Phase 3 trials for metastatic pancreatic cancer, following strong antitumor activity observed in early trial results. The company is initiating the RASolute 305 trial with zoldonrasib in combination with standard chemotherapy and planning the RASolute 309 trial with zoldonrasib and daraxonrasib. This is a significant de-risking event for the pipeline, moving a key asset closer to potential market approval in a highly lethal cancer.
At the time of this announcement, RVMD was trading at $188.03 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $39.9B. The 52-week trading range was $34.00 to $193.10. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.