Revolution Medicines shares jump after FDA approval for Rasonque
Revolution Medicines (RVMD) surged after FDA approval of Rasonque. Trials showed ~60% lower death risk versus chemo, with median OS 13.2 vs 6.7 months and PFS 7.2 vs 3.6. Shares consolidated around $210.
Revolution Medicines, Inc. (NASDAQ:RVMD) surged to near record highs after FDA approval of Rasonque. In trials, the drug showed about 60% lower death risk versus chemo, with median overall survival of 13.2 months versus 6.7 months and progression-free survival of 7.2 months versus 3.6 months. The shares have since consolidated around $210 as analysts raise price targets, citing label expansion and larger peak sales potential.