Revolution Medicines draws $250 million Royalty Pharma term loan after RASONQUE approval
RPRX•Revolution Medicines drew $250 million under Tranche A of its Royalty Pharma term loan facility on Oct. 8, 2026, following FDA approval of RASONQUE. The $750 million facility carries interest at three-month Term SOFR, subject to a 3.50% floor, plus 5.75%.
1. Loan draw and terms
Revolution Medicines drew $250 million under Tranche A of its senior secured term loan facility with Royalty Pharma on Oct. 8, 2026, following FDA approval of RASONQUE (daraxonrasib). Wilmington Trust is the administrative agent for the $750 million facility. The draw carried a $5 million fee, and the loan bears interest at three-month Term SOFR, subject to a 3.50% floor, plus 5.75%. Principal is due Oct. 8, 2032, after an interest-only period; voluntary prepayment requires repayment of all outstanding Tranche A. Revolution Medicines declined Royalty Pharma’s optional Tranche 3 royalty purchase, foregoing up to $250 million in proceeds.
