Revolution Medicines Phase 3 Data Shows 13.2 vs 6.7 Months Survival, Stock Soars
Revolution Medicines reported Phase 3 data showing its pancreatic cancer pill daraxonrasib extended median overall survival to 13.2 months versus 6.7 months for chemotherapy, reducing mortality risk by 60%. Shares surged 35% to a record $135.81, fueling analysts to raise targets to $165, $147 and $174.
1. Phase 3 Trial Results
Revolution Medicines reported that daraxonrasib extended median overall survival to 13.2 months versus 6.7 months for standard chemotherapy, representing a 60% reduction in mortality risk and confirming the drug’s potential in treating RAS-addicted pancreatic cancer.
2. Stock Performance
Shares surged 35% to a record high of $135.81, marking a 69% advance year to date and reflecting strong investor confidence in the drug’s clinical success.
3. Analyst Upgrades
Oppenheimer raised its price target to $165 from $150, while Leerink and Guggenheim lifted their targets to $147 and $174, signaling broad analyst optimism about Revolution Medicines’ commercial prospects.