Revolution Medicines, Inc. Warrant Q2 FY2025 earnings call

• Pipeline progress: Three clinical stage RAS(ON) inhibitors - daraxonrasib (Breakthrough Therapy designation in pancreatic cancer, RASolute 302 Phase III trial enrolling well, plans for first-line and adjuvant pancreatic cancer trials), elironrasib (Breakthrough Therapy designation in lung cancer, clinical data on monotherapy and combinations), zoldonrasib (promising data in lung cancer). - New asset: RMC-5127, a RAS(ON) G12V selective inhibitor, clinic-ready later this year. - Collaborations: Partnership with Royalty Pharma for $2B funding, collaboration with Iambic for AI drug discovery, collaboration with Summit Therapeutics for PD-1 VEGF bispecific antibody combinations. - Financial strength: $2.1B cash and investments, Royalty Pharma partnership providing flexible capital for development and commercialization.

No detailed segment performance breakdown by product segments with absolute revenue and contribution % as described in the transcript. Focus is on pipeline and clinical program progress.

• Projected full year 2025 GAAP net loss between $1.03 billion and $1.09 billion, including noncash stock-based compensation. - Expect data readout from RASolute 302 in 2026. - Plan to initiate first-line pancreatic ductal adenocarcinoma (PDAC) registrational trial later this year.

• Risks associated with forward-looking statements, potential differences between actual results and forward-looking statements. - Uncertainties in clinical trial timelines and outcomes, regulatory approval processes.

Q: Michael Schmidt asked about RASolute 302 enrollment and first-line PDAC study.

A: Mark Goldsmith and Steve Kelsey discussed enrollment progress and study design considerations.

Q: Marc Frahm inquired about chemotherapy in combination and data readout timing.

A: Mark Goldsmith talked about chemotherapy dosing and data readout in 2026.

Q: Jonathan Chang asked about daraxonrasib combination data for front-line study.

A: Mark Goldsmith and Steve Kelsey discussed study design and considerations.

Q: Ellie Merle asked about RAS up-regulation and degraders vs inhibitors.

A: Stephen Kelsey discussed RAS amplification and degraders vs inhibitors.

Q: Kelly Shi asked about trial design sign-off and second-line data.

A: Mark Goldsmith mentioned progress but no specific regulatory updates.

Q: Andrea Newkirk asked about commercial activities and Lumakras/Krazati learnings.

A: Anthony Mancini talked about commercialization progress.

Q: Jay Olson asked about Summit partnership prioritization and lung cancer combination.

A: Mark Goldsmith discussed collaboration and potential benefits.

Q: Ami Fadia asked about accelerated approval for RASolute 302 and Summit combo efficacy.

A: Mark Goldsmith and Wei Lin discussed accelerated approval and bispecific antibody benefits.

Q: Alec Stranahan asked about zoldonrasib/elironrasib data and Iambic collaboration.

A: Mark Goldsmith talked about data progress and AI collaboration.

Q: Peter Lawson asked about commercial build-out and PRMT5 combo.

A: Anthony Mancini and Stephen Kelsey discussed commercial team build and PRMT5 combo focus.