Overview

* Revolution Medicines ( RVMD ) Q2 net loss widens to $247.8 mln from $133.2 mln

* Operating expenses rise due to increased clinical trial and manufacturing costs

* Co enters $2 bln funding agreement with Royalty Pharma for global expansion

Outlook

* Company expects to complete RASolute 302 trial enrollment this year

* Revolution Medicines ( RVMD ) projects 2025 net loss of $1.03 bln to $1.09 bln

* Company plans to initiate pivotal trials for daraxonrasib in 2026

* Revolution Medicines ( RVMD ) expects to start registrational trials for daraxonrasib this year

Result Drivers

* CLINICAL TRIAL COSTS - Increased expenses attributed to ongoing Phase 3 trials for daraxonrasib and elironrasib

* FDA DESIGNATIONS - Breakthrough Therapy Designations for daraxonrasib and elironrasib highlight potential efficacy

* FUNDING AGREEMENT - $2 bln agreement with Royalty Pharma to support global expansion

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$1.31

Q2 Net -$247.79

Income mln

Q2 $264.71

Operatin mln

g

Expenses

Q2 -$264.71

Operatin mln

g Income

Q2 -$247.79

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Revolution Medicines Inc ( RVMD ) is $72.00, about 46.7% above its August 5 closing price of $38.39

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)