Following the U.S. Food and Drug Administration's approval of RASONQUE (daraxonrasib) for metastatic pancreatic adenocarcinoma, Revolution Medicines advanced a $250 million Tranche A senior secured term loan from Royalty Pharma Development Funding on October 8, 2026. The company paid a $5.0 million draw fee. The floating-rate debt bears interest at three-month Term SOFR plus 5.75%, subject to a 3.50% floor, with quarterly interest-only payments due until the principal matures on October 8, 2032. Concurrently, the company elected not to exercise its option for Tranche 3 of the revenue participation agreement, foregoing up to $250 million in exchange for incremental royalties. Revolution Medicines operates as a clinical-stage biotechnology company focused on developing targeted therapies for cancer.
