On June 1, Revolution Medicines rose 15.38% in pre-market trading, trading at $184.0/share, with trading volume of $473,100. The surge was driven by the full Phase 3 RASolute 302 data presented at the ASCO annual meeting, which demonstrated a landmark survival benefit for daraxonrasib in previously treated metastatic pancreatic ductal adenocarcinoma.

The study enrolled 500 patients and showed daraxonrasib doubled median overall survival from 6.6 months in the chemotherapy arm to 13.2 months, while progression-free survival improved from 3.5 months to 7.3 months. The results were simultaneously published in the New England Journal of Medicine. Pancreatic cancer has long been considered one of the hardest cancers to treat, with a 5-year relative survival rate of approximately 13%, making these results a potential paradigm shift in standard of care.

The data supports an ongoing FDA priority review, with a potential approval decision expected within months. Revolution Medicines is also advancing daraxonrasib into first-line treatment and combination therapy trials, further expanding its commercial outlook in RAS-driven cancers.

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