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How will Revolution Medicines' stock price change within one week after the Phase 3 trial results announcement?
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Revolution Medicines' RMC-6236 Shows Promising Data, Stock Rises 10-19%
Jul 15, 2024, 02:02 PM
Revolution Medicines (RVMD), a Redwood City-based clinical stage biotech, has announced promising interim clinical trial data for its investigational pancreatic cancer drug, RMC-6236. The drug, which is designed to inhibit all major forms of oncogenic RAS, showed a progression-free survival (PFS) of 8.1 months in second-line KRAS G12-mutant metastatic pancreatic cancer patients, significantly higher than the benchmark PFS of 2-3.5 months. The overall survival (OS) has not yet been reached, but it is already more than a year, compared to the benchmark OS of 6.1-6.9 months. The company plans to advance the 300 milligram dose of RMC-6236 into a Phase 3 study, comparing it to the investigator’s choice of standard chemotherapy among previously treated pancreatic cancer patients. The Phase 3 trial is expected to start before the end of the year. The announcement led to a pre-market increase of 10-19% in RVMD's stock price, although a reported rash adverse event (AE) might be problematic but seems manageable.
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