Revolution Medicines reported a net loss of $644.4 million for the quarter ended June 30, 2026, compared to $247.8 million in the prior year period. The increase was driven by higher R&D expenses of $394.9 million and G&A expenses of $110.2 million, partially offset by a non-cash warrant liability revaluation charge of $151.0 million. Cash reserves stood at $3.9 billion following a $2.225 billion equity and convertible note offering in April 2026 and a $250 million royalty tranche payment from Royalty Pharma in May 2026. The company updated its full-year 2026 GAAP operating expense guidance to $2.1–$2.2 billion. Clinically, the FDA accepted the New Drug Application for daraxonrasib for previously treated metastatic pancreatic cancer, and the company achieved U.S. commercial launch readiness while expanding an Expanded Access Program to over 2,000 patients. Revolution Medicines operates in the biotechnology industry, developing targeted therapies for RAS-addicted cancers.
