Revolution Medicines rises after FDA approves pancreatic cancer drug
RVMD•Shares rise after FDA approval
- Shares of biotech firm Revolution Medicines (RVMD.O) rise 1% to $213.37.
- The company says the U.S. FDA approved Rasonque for adults with metastatic pancreatic adenocarcinoma, the most common form of pancreatic cancer.
- The company says the once-daily pill is the first approved therapy in its class for the disease.
Trial results and approval timing
- The FDA says patients treated with Rasonque lived a median 13.2 months versus 6.7 months with standard chemotherapy in a 500-patient study.
- Approval came about 6.5 months ahead of the FDA's review deadline.
- The drug received breakthrough therapy, orphan drug and priority review designations before approval.
- Including the session's move, the stock is up about 165% year to date.
