03:36 PM EDT, 07/15/2024 (MT Newswires) -- Revolution Medicines ( RVMD ) expects a net loss of $560 million to $600 million for full year 2024, according to a regulatory filing Monday.

This includes estimated non-cash stock-based compensation expenses of $70 million to $80 million. The cash, cash equivalents and marketable securities are adequate to sustain operations until 2027.

The company also reported its monotherapy first-in-human study of pancreatic cancer drug RMC-6236 for patients with previously treated pancreatic ductal adenocarcinoma, demonstrated a favorable safety profile and better treatment response rates.

Revolution Medicines ( RVMD ) believes the preliminary progression-free survival data from the study compare favorably to median PFS for second-line chemotherapy trials, supporting plans for a global phase 3 trial of RMC-6236 for second-line treatment of metastatic PDAC.

Revolution Medicines ( RVMD ) shares were up 3% in recent trading.

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