Revolution Medicines, Inc.
RVMD, RVMDW · Biological Products, (No Diagnostic Substances) · 212.6M shares · +27%/yr ↑ shares · EDGAR filings ↗
Reference price $167.34 · est. market cap ~$35.6B — last insider sale, 2026-06-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C63Well-funded leader in RAS(ON) precision oncology with a deep pipeline and breakthrough designations, but no pivotal readout and very heavy cash burn.
Strengths
- ~$2.03B cash (97th pct); broad daraxonrasib/zoldonrasib/elironrasib pipeline with multiple Breakthrough Therapy designations and a CNPV voucher
- Differentiated tri-complex RAS(ON) platform addressing a large RAS-addicted market
Risks
- FCF -$914M (2nd pct) and ROE -69% (33rd pct) — runway only ~8.9 quarters against a massive burn
- Royalty Pharma debt covenants restrict operating flexibility
- Registry trials shown (SHP2 combos) were unclear/discontinued with high serious-AE rates; lead programs unproven in Phase 3
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-913.7M)
- Trial resultPositive trial readout — primary endpoint met (8-K) 8-K ↗
- Strong balance sheetStrong balance sheet — $2.0B cash & investments, ~9 quarters of runway
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- AccumulatingInstitutional holders rose 16→19 QoQ (2025-12-31→2026-03-31)
- Insider sellingInsider selling — 56 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$61M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-06 — PHASE3 · Pancreatic Cancer
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-69.3%
Return on assets
-48.0%
Current ratio
7.1×
Free cash flow
-$914M
EBITDA
-$1.2B
Tangible book value
$1.6B
Cash & investments
$2.0B
Cash runway
9q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | Anders Jack | Option exercise | 20K | $18.56 |
| 2026-06-24 | Anders Jack | Sell | 4.6K | $167.34 |
| 2026-06-24 | Anders Jack | Sell | 9.5K | $168.20 |
| 2026-06-24 | Anders Jack | Sell | 300 | $170.32 |
| 2026-06-24 | Anders Jack | Sell | 5.7K | $169.24 |
| 2026-06-18 | Borisy Alexis | Grant | 1.2K | — |
| 2026-06-18 | Borellini Flavia | Grant | 1.2K | — |
| 2026-06-18 | Patel Sushil | Grant | 1.2K | — |
| 2026-06-18 | Clyburn Frank | Grant | 1.2K | — |
| 2026-06-18 | Horning Sandra | Grant | 1.2K | — |
| 2026-06-18 | ANDERSON ELIZABETH M | Grant | 1.2K | — |
| 2026-06-18 | Kim Lorence H. | Grant | 1.2K | — |
| 2026-06-17 | Horn Margaret A | Option exercise | 573 | $40.74 |
| 2026-06-17 | Horn Margaret A | Option exercise | 3.3K | $29.80 |
| 2026-06-17 | Horn Margaret A | Option exercise | 26K | $26.50 |
| 2026-06-17 | Horn Margaret A | Sell | 30K | $160.12 |
| 2026-06-16 | Kelsey Stephen Michael | Sell | 4.2K | $156.12 |
| 2026-06-16 | Mancini Anthony | Sell | 4.6K | $156.12 |
| 2026-06-16 | GOLDSMITH MARK A | Sell | 10K | $156.12 |
| 2026-06-16 | Cislini Jeff | Sell | 2.2K | $156.12 |
| 2026-06-16 | Anders Jack | Sell | 2.7K | $156.12 |
| 2026-06-15 | Horn Margaret A | Sell | 60K | $160.17 |
| 2026-06-15 | Horn Margaret A | Option exercise | 45K | $29.80 |
| 2026-06-15 | Horn Margaret A | Option exercise | 16K | $40.74 |
| 2026-06-11 | Horn Margaret A | Sell | 4.6K | $149.64 |
| 2026-06-11 | Horn Margaret A | Option exercise | 1.1K | $42.45 |
| 2026-06-11 | Horn Margaret A | Option exercise | 8.9K | $40.74 |
| 2026-06-11 | Horn Margaret A | Sell | 1.3K | $144.28 |
| 2026-06-11 | Horn Margaret A | Sell | 885 | $145.15 |
| 2026-06-11 | Horn Margaret A | Sell | 700 | $146.04 |
| 2026-06-11 | Horn Margaret A | Sell | 500 | $147.27 |
| 2026-06-11 | Horn Margaret A | Sell | 1.8K | $148.72 |
| 2026-06-11 | Horn Margaret A | Sell | 200 | $150.17 |
| 2026-05-26 | Mancini Anthony | Option exercise | 3.1K | $33.62 |
| 2026-05-26 | Mancini Anthony | Sell | 700 | $153.30 |
| 2026-05-26 | Mancini Anthony | Sell | 2.0K | $154.06 |
| 2026-05-26 | Mancini Anthony | Sell | 421 | $154.82 |
| 2026-04-27 | Mancini Anthony | Option exercise | 3.1K | $33.62 |
| 2026-04-27 | Mancini Anthony | Sell | 1.7K | $131.66 |
| 2026-04-27 | Mancini Anthony | Sell | 1.0K | $132.88 |
| 2026-04-27 | Mancini Anthony | Sell | 400 | $134.34 |
| 2026-04-15 | GOLDSMITH MARK A | Sell | 120K | $150.09 |
| 2026-04-15 | GOLDSMITH MARK A | Option exercise | 97K | $4.73 |
| 2026-04-15 | GOLDSMITH MARK A | Option exercise | 23K | $4.09 |
| 2026-03-25 | Mancini Anthony | Sell | 400 | $97.21 |
| 2026-03-25 | Mancini Anthony | Option exercise | 37K | $33.62 |
| 2026-03-25 | Mancini Anthony | Sell | 1.8K | $93.22 |
| 2026-03-25 | Mancini Anthony | Sell | 3.1K | $94.16 |
| 2026-03-25 | Mancini Anthony | Sell | 21K | $95.49 |
| 2026-03-25 | Mancini Anthony | Sell | 11K | $96.43 |
| 2026-03-19 | Cislini Jeff | Sell | 1.2K | $97.44 |
| 2026-03-17 | Cislini Jeff | Sell | 1.8K | $99.48 |
| 2026-03-17 | Wang Xiaolin | Sell | 2.0K | $99.48 |
| 2026-03-17 | Anders Jack | Sell | 2.8K | $99.48 |
| 2026-03-17 | Horn Margaret A | Sell | 4.6K | $99.48 |
| 2026-03-17 | GOLDSMITH MARK A | Sell | 13K | $99.48 |
| 2026-03-17 | Kelsey Stephen Michael | Sell | 4.3K | $99.48 |
| 2026-03-17 | Wei Lin | Sell | 2.1K | $99.48 |
| 2026-03-04 | ANDERSON ELIZABETH M | Gift | 15K | — |
| 2026-03-04 | ANDERSON ELIZABETH M | Gift | 15K | — |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 3.5K | $99.76 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 3.6K | $100.73 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 21K | $101.60 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 851 | $102.20 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 100 | $98.31 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 400 | $100.12 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 1.7K | $101.47 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 800 | $102.00 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 100 | $98.29 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 600 | $100.19 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 2.1K | $101.63 |
| 2026-03-02 | GOLDSMITH MARK A | Option exercise | 30K | $4.09 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 200 | $102.08 |
| 2026-03-02 | GOLDSMITH MARK A | Sell | 700 | $98.17 |
| 2026-03-01 | Wei Lin | Grant | 15K | — |
| 2026-03-01 | GOLDSMITH MARK A | Grant | 57K | — |
| 2026-03-01 | Horn Margaret A | Grant | 21K | — |
| 2026-03-01 | Cislini Jeff | Grant | 14K | — |
| 2026-03-01 | Anders Jack | Grant | 20K | — |
| 2026-03-01 | Wang Xiaolin | Grant | 15K | — |
| 2026-03-01 | Kelsey Stephen Michael | Grant | 21K | — |
| 2026-02-06 | GOLDSMITH MARK A | Option exercise | 24K | $0.54 |
| 2026-01-21 | Cislini Jeff | Sell | 908 | $115.60 |
| 2026-01-07 | Horn Margaret A | Sell | 1.7K | $102.90 |
| 2026-01-07 | Anders Jack | Option exercise | 10K | $42.45 |
| 2026-01-07 | Anders Jack | Sell | 10K | $98.00 |
| 2026-01-07 | Horn Margaret A | Option exercise | 51K | $42.45 |
| 2026-01-07 | Horn Margaret A | Sell | 53K | $100.02 |
| 2026-01-07 | Horn Margaret A | Option exercise | 24K | $29.80 |
| 2026-01-07 | Horn Margaret A | Sell | 20K | $101.79 |
| 2025-12-16 | GOLDSMITH MARK A | Sell | 15K | $76.82 |
| 2025-12-16 | Cislini Jeff | Sell | 2.7K | $76.82 |
| 2025-12-16 | Kelsey Stephen Michael | Sell | 5.4K | $76.82 |
| 2025-12-16 | Horn Margaret A | Sell | 4.8K | $76.82 |
| 2025-12-16 | Anders Jack | Sell | 3.1K | $77.09 |
| 2025-11-25 | Anders Jack | Option exercise | 5.4K | $17.00 |
| 2025-11-25 | GOLDSMITH MARK A | Sell | 3.0K | $75.00 |
| 2025-11-25 | GOLDSMITH MARK A | Sell | 3.0K | $75.00 |
| 2025-11-25 | GOLDSMITH MARK A | Option exercise | 60K | $4.09 |
| 2025-11-25 | GOLDSMITH MARK A | Sell | 60K | $75.08 |
| 2025-11-25 | Anders Jack | Sell | 5.4K | $74.00 |
| 2025-11-18 | Cislini Jeff | Sell | 13K | $70.14 |
| 2025-11-18 | GOLDSMITH MARK A | Sell | 20K | $70.38 |
| 2025-11-18 | Cislini Jeff | Option exercise | 13K | $42.45 |
| 2025-11-18 | GOLDSMITH MARK A | Option exercise | 20K | $4.09 |
| 2025-11-12 | GOLDSMITH MARK A | Option exercise | 20K | $4.09 |
| 2025-11-12 | GOLDSMITH MARK A | Sell | 20K | $65.07 |
| 2025-11-12 | GOLDSMITH MARK A | Gift | 50K | — |
| 2025-11-12 | GOLDSMITH MARK A | Gift | 50K | — |
| 2025-11-12 | GOLDSMITH MARK A | Gift | 50K | — |
| 2025-11-12 | GOLDSMITH MARK A | Gift | 50K | — |
| 2025-11-11 | Anders Jack | Option exercise | 10K | $17.00 |
| 2025-11-11 | Anders Jack | Sell | 10K | $64.00 |
| 2025-11-07 | GOLDSMITH MARK A | Option exercise | 26K | $1.12 |
| 2025-11-07 | GOLDSMITH MARK A | Option exercise | 3.5K | $4.09 |
| 2025-11-07 | GOLDSMITH MARK A | Sell | 30K | $60.31 |
| 2025-10-17 | GOLDSMITH MARK A | Option exercise | 10K | $1.12 |
| 2025-10-17 | GOLDSMITH MARK A | Sell | 10K | $55.00 |
| 2025-10-17 | Cislini Jeff | Sell | 12K | $55.00 |
| 2025-10-17 | Cislini Jeff | Option exercise | 12K | $36.57 |
| 2025-10-16 | GOLDSMITH MARK A | Sell | 10K | $50.47 |
| 2025-10-16 | GOLDSMITH MARK A | Option exercise | 10K | $1.12 |
| 2025-10-13 | Kelsey Stephen Michael | Sell | 25K | $48.54 |
| 2025-10-13 | Kelsey Stephen Michael | Option exercise | 25K | $4.73 |
| 2025-09-24 | Cislini Jeff | Sell | 1.8K | $44.26 |
| 2025-09-16 | Cislini Jeff | Sell | 1.9K | $45.82 |
| 2025-09-16 | Anders Jack | Sell | 2.3K | $45.82 |
| 2025-09-16 | Horn Margaret A | Sell | 4.8K | $45.82 |
| 2025-09-16 | GOLDSMITH MARK A | Sell | 13K | $45.82 |
| 2025-09-16 | Kelsey Stephen Michael | Sell | 5.4K | $45.82 |
| 2025-09-16 | Wei Lin | Sell | 2.2K | $45.82 |
| 2025-09-15 | Kelsey Stephen Michael | Sell | 24K | $45.92 |
| 2025-09-15 | Kelsey Stephen Michael | Sell | 1.3K | $46.93 |
| 2025-09-15 | Kelsey Stephen Michael | Option exercise | 25K | $4.73 |
| 2025-09-11 | Kelsey Stephen Michael | Option exercise | 100K | $4.73 |
| 2025-09-11 | Kelsey Stephen Michael | Sell | 44K | $43.58 |
| 2025-09-11 | Kelsey Stephen Michael | Sell | 56K | $44.48 |
| 2025-09-03 | Anders Jack | Option exercise | 2.0K | $17.00 |
| 2025-09-03 | Anders Jack | Sell | 5.2K | $40.17 |
| 2025-09-03 | Anders Jack | Option exercise | 3.2K | $4.73 |
| 2025-09-02 | Anders Jack | Option exercise | 1.9K | $4.73 |
| 2025-09-02 | Anders Jack | Option exercise | 2.8K | $2.68 |
| 2025-09-02 | Anders Jack | Sell | 4.8K | $40.02 |
| 2025-06-30 | GOLDSMITH MARK A | Option exercise | 37K | $0.54 |
| 2025-06-26 | ANDERSON ELIZABETH M | Grant | 3.1K | — |
| 2025-06-26 | Borisy Alexis | Grant | 3.1K | — |
| 2025-06-26 | Horning Sandra | Grant | 3.1K | — |
| 2025-06-26 | Patel Sushil | Grant | 3.1K | — |
| 2025-06-26 | Kim Lorence H. | Grant | 3.1K | — |
| 2025-06-26 | Clyburn Frank | Grant | 2.8K | — |
| 2025-06-26 | Borellini Flavia | Grant | 3.1K | — |
| 2025-06-20 | Cislini Jeff | Sell | 1.9K | $39.61 |
| 2025-06-16 | Horn Margaret A | Sell | 3.6K | $156.12 |
| 2025-06-16 | Horn Margaret A | Sell | 3.5K | $39.83 |
| 2025-06-16 | GOLDSMITH MARK A | Sell | 13K | $39.83 |
| 2025-06-16 | Cislini Jeff | Sell | 1.9K | $39.83 |
| 2025-06-16 | Anders Jack | Sell | 2.2K | $39.83 |
| 2025-06-16 | Kelsey Stephen Michael | Sell | 4.3K | $39.83 |
| 2025-06-16 | Wei Lin | Sell | 2.2K | $39.83 |
| 2025-03-20 | Cislini Jeff | Sell | 2.0K | $38.71 |
| 2025-03-17 | Wang Xiaolin | Gift | 2.7K | — |
| 2025-03-17 | Kelsey Stephen Michael | Sell | 3.3K | $39.04 |
| 2025-03-17 | Horn Margaret A | Sell | 3.1K | $39.04 |
| 2025-03-17 | Anders Jack | Sell | 1.9K | $39.04 |
| 2025-03-17 | GOLDSMITH MARK A | Sell | 12K | $39.04 |
| 2025-03-17 | Cislini Jeff | Sell | 1.5K | $39.04 |
| 2025-03-01 | Wei Lin | Grant | 21K | — |
| 2025-03-01 | GOLDSMITH MARK A | Grant | 97K | — |
| 2025-03-01 | Wang Xiaolin | Grant | 19K | — |
| 2025-03-01 | Cislini Jeff | Grant | 22K | — |
| 2025-03-01 | Anders Jack | Grant | 20K | — |
| 2025-03-01 | Kelsey Stephen Michael | Grant | 37K | — |
| 2025-03-01 | Horn Margaret A | Grant | 29K | — |
| 2025-01-21 | Cislini Jeff | Sell | 2.4K | $40.50 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07252232 ↗ | Study of Daraxonrasib (RMC-6236) in Patients With Resected Pancreatic Ductal Adenocarcinoma (PDAC) Pancreatic Cancer, PDAC | PHASE3 | Recruiting | 2029-05-10 |
| NCT07397338 ↗ | Study of RAS(ON) Inhibitors in Combination With Ivonescimab in Patients With Solid Tumors Advanced Solid Tumors, Metastatic Solid Tumors | PHASE1/PHASE2 | Recruiting | 2029-05-01 |
| NCT07621718 ↗ | Study of Zoldonrasib + Chemo of Investigator's Choice vs Placebo + Chemo of Investigator's Choice as First-line Treatment in Metastatic KRAS G12D-mutated Pancreatic Adenocarcinoma ( RASolute 305 ) Pancreatic Cancer, Pancreatic Cancer Metastatic | PHASE3 | Recruiting | 2028-12-30 |
| NCT06128551 ↗ | Study of Elironrasib and Daraxonrasib as Monotherapies and Combination Therapy in Participants With Advanced KRAS G12C Mutant Solid Tumors Non-Small Cell Lung Cancer (NSCLC), Colorectal Cancer | PHASE1/PHASE2 | Recruiting | 2028-12-01 |
| NCT07491445 ↗ | Study of Daraxonrasib and Daraxonrasib + GnP as First-line Treatment in Patients With Metastatic Pancreatic Adenocarcinoma Pancreatic Cancer, Pancreatic Cancer Metastatic | PHASE3 | Recruiting | 2028-06-01 |
| NCT07349537 ↗ | Study of RMC-5127 in Patients With Advanced KRAS G12V-Mutant Solid Tumors Non-small Cell Lung Cancer (NSCLC), Colorectal Cancer (CRC) | PHASE1 | Recruiting | 2028-04-01 |
| NCT06881784 ↗ | Study of Daraxonrasib (RMC-6236) in Patients With RAS Mutated NSCLC (RASolve 301) NSCLC (Non-small Cell Lung Cancer), Non-Small Cell Lung Cancer | PHASE3 | Recruiting | 2027-12-01 |
| NCT06162221 ↗ | Study of RAS(ON) Inhibitors in Patients With Advanced RAS-mutated NSCLC Non-Small Cell Lung Cancer, NSCLC, KRAS, NRAS, HRAS-mutated NSCLC | PHASE1/PHASE2 | Recruiting | 2027-06-01 |
| NCT05379985 ↗ | Study of RMC-6236 in Patients With Advanced Solid Tumors Harboring Specific Mutations in RAS Non-small Cell Lung Cancer (NSCLC), Colorectal Cancer (CRC) | PHASE1/PHASE2 | Recruiting | 2027-05-31 |
| NCT06445062 ↗ | Study of RAS(ON) Inhibitors in Patients With Gastrointestinal Solid Tumors Colorectal Cancer, CRC | PHASE1/PHASE2 | Recruiting | 2027-05-15 |
| NCT05462717 ↗ | Dose Escalation and Dose Expansion Study of RMC-6291 Monotherapy in Subjects With Advanced KRASG12C Mutant Solid Tumors Non-Small Cell Lung Cancer (NSCLC), Colorectal Cancer (CRC) | PHASE1 | Active Not Recruiting | 2027-03-31 |
| NCT06040541 ↗ | Study of RMC-9805 in Participants With KRAS G12D-Mutant Solid Tumors Non-small Cell Lung Cancer (NSCLC), Colorectal Cancer (CRC) | PHASE1 | Recruiting | 2026-12-31 |
| NCT06625320 ↗ | Phase 3 Study of Daraxonrasib (RMC-6236) in Patients With Previously Treated Metastatic Pancreatic Ductal Adenocarcinoma (PDAC) Pancreatic Cancer, PDAC | PHASE3 | Active Not Recruiting | 2026-06-01 |
| NCT05054725 ↗ | Combination Study of RMC-4630 and Sotorasib for NSCLC Subjects With KRASG12C Mutation After Failure of Prior Standard Therapies Non-Small Cell Lung Cancer | PHASE2 | Completed | 2024-07-03 |
| NCT04774952 ↗ | Dose Escalation of RMC-5552 Monotherapy in Relapsed/Refractory Solid Tumors Solid Tumors | PHASE1 | Completed | 2024-05-06 |
| NCT03634982 ↗ | Dose Escalation of RMC-4630 Monotherapy in Relapsed/Refractory Solid Tumors Solid Tumors | PHASE1 | Unknown | 2023-03-31 |
| NCT03989115 ↗ | Dose-Esc/Exp RMC4630 & Cobi in Relapsed/Refractory Solid Tumors & RMC4630& Osi in EGFR+ Locally Adv/Meta NSCLC Solid Tumor | PHASE1/PHASE2 | Completed | 2022-02-08 |
| NCT07573215 ↗ | Expanded Access Program for Daraxonrasib (RMC-6236) in Previously Treated Metastatic Pancreatic Adenocarcinoma PDAC, PDAC - Pancreatic Ductal Adenocarcinoma | — | Available |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Exec/director changeShareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-04-17 | Material agreementDebt obligationOtherExhibits | filing ↗ |
| 2026-04-16 | OtherExhibits | filing ↗ |
| 2026-04-13 | Other | filing ↗ |
| 2026-02-25 | ResultsExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-10-17 | Other | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001193125-26-276718 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-208918 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-208969 ↗ |
| 8-K | 2026-04-17 | 2026-04-14 | 0001193125-26-161800 ↗ |
| 8-K | 2026-04-16 | 2026-04-14 | 0001193125-26-159289 ↗ |
| 8-K | 2026-04-13 | 2026-04-13 | 0001193125-26-152039 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0001193125-26-071563 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001193125-26-071517 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266836 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001193125-25-266923 ↗ |
| 8-K | 2025-10-17 | 2025-10-16 | 0001193125-25-241736 ↗ |
| 8-K | 2025-09-10 | 2025-09-10 | 0001193125-25-200078 ↗ |