Revolution Medicines, Inc. Q3 FY2024 earnings call

Pipeline Progress

• Advancing three RAS(ON) inhibitors: RMC-6236, RMC-6291, RMC-9805.
• RMC-6236 initiated first global randomized Phase 3 study in second-line metastatic PDAC; RMC-9805 showed 30% objective response rate and 80% disease control rate in PDAC.

Non-Small Cell Lung Cancer

• Upcoming disclosures on RMC-6236 and RMC-6291; plan to initiate Phase 3 registrational study in first quarter 2025 for RMC-6236 monotherapy in previously treated advanced RAS mutant non-small cell lung cancer.

Financials

• Q3 2024 R&D expenses $151.8M, G&A $24.0M, net loss $156.3M. Full-year 2024 GAAP net loss expected between $560M-$600M.

No traditional product segments with revenue contribution percentages discussed. Focus is on clinical progress of RAS inhibitors: RMC-6236 advanced into first pivotal trials in PDAC and non-small cell lung cancer; RMC-9805 showed encouraging safety and antitumor activity in PDAC.

Financial

• Reiterating 2024 financial guidance with full-year net loss between $560M and $600M.

Development

• Plan to initiate Phase 3 registrational study in first quarter 2025 for non-small cell lung cancer with RMC-6236 monotherapy. Advancing RMC-6236 and RMC-9805 in PDAC with intensity, including combination studies.

• Uncertainty in data maturation for RMC-9805 to determine optimal development approach. - Risk of actual results differing from forward-looking statements. - Practical challenges in predicting exact timelines for Phase 3 studies like the lung cancer trial.

Q: Peter Lawson asks about combination data sets for pembro and RAS(ON) inhibitor doublet studies A: Mark Goldsmith discusses pembro study focusing on hepatotoxicity and RMC-6236 plus RMC-6291 study looking for activity translation Q: Michael Schmidt asks about lung cancer Phase 3 timing A: Mark Goldsmith talks about regulatory alignment and practical timelines for initiating the trial Q: Jay Olson asks about Tango collaboration A: Mark Goldsmith mentions clinical drug supply and preclinical results of the collaboration Q: Marc Frahm asks about Phase 3 timeline divergence for pancreatic and lung A: Mark Goldsmith states it's a practical reality with enrollment phase differences Q: Alec Stranahan asks about preclinical AML data and RAS platform in liquid tumors A: Mark Goldsmith mentions hematology component outsourced to academics Q: Eric Joseph asks about 6236, pembrolizumab, and triplet combinations A: Wei Lin discusses the quadruplet combination of 6236, pembro, and platinum doublet chemotherapy Q: Laura Prendergast asks about Nature paper on 6236 mechanism A: Mark Goldsmith confirms awareness of the mechanism and its contribution to RMC-6236's therapeutic index Q: Unidentified Analyst asks about first line PDAC strategy A: Mark Goldsmith and Wei Lin discuss planning for first line study and mechanistic translation Q: Clara (on for Kelly Shi) asks about Tango collaboration partner choice A: Mark Goldsmith mentions Tango compound's preclinical visibility and ongoing search for best combination partners