Revolution Medicines Q2 FY26 net loss widens to $644.4 million; R&D expenses rise to $394.9 million
RVMD•Quarterly results
Revolution Medicines posted a GAAP net loss of $644.4 million for Q2 2026, widening from a $247.8 million loss a year earlier.
GAAP R&D expense climbed to $394.9 million from $224.1 million, driven by higher daraxonrasib and zoldonrasib trial and manufacturing costs.
GAAP G&A expense rose to $110.2 million from $40.6 million on higher stock-based compensation, added headcount, and commercial preparation activities.
Cash position and financing
Cash, cash equivalents and marketable securities totaled $3.9 billion at June 30, 2026, reflecting April equity and 0.50% convertible senior notes offerings and a $250 million Royalty Pharma payment.
Guidance and regulatory update
The company updated 2026 GAAP operating expense guidance to $2.1 billion to $2.2 billion.
The FDA accepted the daraxonrasib NDA for previously treated metastatic pancreatic cancer.
