Revolution Medicines, Inc. announced its financial results for the first quarter ended March 31, 2025, on May 7, 2025. The company reported cash, cash equivalents, and marketable securities of $2.1 billion as of the quarter-end. Research and development expenses significantly increased to $205.7 million for Q1 2025, up from $118.0 million in Q1 2024, primarily due to higher clinical trial and manufacturing expenses for daraxonrasib, zoldonrasib, and elironrasib.
The net loss for the quarter was $213.4 million, compared to $116.0 million in the prior year, reflecting the company's continued substantial investment in its late-stage clinical pipeline. Revolution Medicines reiterated its full-year 2025 GAAP net loss guidance of between $840 million and $900 million, including estimated non-cash stock-based compensation.
The company provided extensive clinical updates, including strong enrollment in the Phase 3 RASolute 302 trial for PDAC and site activation for the Phase 3 RASolve 301 trial for NSCLC. New data for elironrasib monotherapy in KRAS G12C NSCLC showed a 56% ORR and 9.9 months median PFS. Encouraging preliminary antitumor activity was also reported for daraxonrasib with pembrolizumab in 1L NSCLC, and for the elironrasib with daraxonrasib doublet in NSCLC, supporting advanced combination strategies. Anthony Mancini was appointed Chief Global Commercialization Officer.
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