Revolution Medicines, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on February 26, 2025. The company reported a strong cash position of $2.3 billion in cash, cash equivalents, and marketable securities as of year-end, primarily due to its December 2024 public equity offering. Research and development expenses for Q4 2024 increased to $188.1 million from $148.5 million in Q4 2023, reflecting higher clinical trial and personnel costs.
For the full year 2024, R&D expenses totaled $592.2 million, up from $423.1 million in 2023, driven by increased investment in daraxonrasib, elironrasib, and zoldonrasib clinical trials. The net loss for Q4 2024 was $194.6 million, and the full-year net loss was $600.1 million, compared to $161.5 million and $436.4 million respectively in 2023, as the company continues to invest heavily in its pipeline.
Revolution Medicines provided 2025 financial guidance, projecting a GAAP net loss between $840 million and $900 million, including $115 million to $130 million in stock-based compensation. The company projects its current cash position can fund planned operations into the second half of 2027. Clinical highlights included continued progress for daraxonrasib in PDAC and NSCLC, supporting ongoing and planned Phase 3 trials, and initial data for zoldonrasib in PDAC.
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