Revolution Medicines, Inc. announced its financial results for the second quarter ended June 30, 2025, on August 6, 2025. The company reported cash, cash equivalents, and marketable securities of $2.1 billion as of quarter-end, which includes the first $250 million royalty monetization tranche from Royalty Pharma. Research and development expenses increased to $224.1 million for Q2 2025, up from $134.9 million in Q2 2024, driven by higher clinical trial and manufacturing costs.
The net loss for the quarter was $247.8 million, compared to $133.2 million in the prior year, reflecting continued significant investment in its pipeline. Revolution Medicines updated its full-year 2025 GAAP net loss guidance, projecting it to be between $1.03 billion and $1.09 billion, an increase from previous guidance, including estimated non-cash stock-based compensation.
Despite the increased loss guidance, the company highlighted continued clinical progress, including two recent FDA Breakthrough Therapy Designations for daraxonrasib and elironrasib. Enrollment in the Phase 3 RASolute 302 trial for PDAC is winding down in the U.S., and the Phase 3 RASolve 301 trial for NSCLC is enrolling patients. The company remains on track to initiate registrational trials for daraxonrasib in first-line metastatic and adjuvant PDAC this year, and a Phase 3 trial for daraxonrasib in 1L RAS mutant NSCLC in 2026.
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