The following is a summary of the Revolution Medicines, Inc. (RVMD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Revolution Medicines reported a net loss of $116.0 million or $0.70 per share for Q1 2024.

• The company ended the first quarter of 2024 with $1.7 billion in cash and investments.

• R&D expenses for Q1 were $118.0 million, primarily driven by clinical trials expenses and increased personnel-related expenses.

• G&A expenses for the first quarter were $22.8 million, largely due to increased personnel related expenses.

Business Progress:

• Revolution Medicines is advancing its RAS(ON) inhibitor pipeline, particularly RMC-6236, into trials for major cancers.

• Two pivotal monotherapy trials for RMC-6236 in pancreatic ductal adenocarcinoma and non-small cell lung cancer are expected to commence in the second half of 2024.

• Revolution Medicines is planning the qualification of their first two RAS(ON) mutant-selective inhibitors, RMC-6291 and RMC-9805, for late-stage development.

• Revolution Medicines has made progress with their RAS(ON) inhibitor doublets, showing promising results in cancer treatments.

• The company plans to move into first-line indications in pancreatic and lung cancer, looking at expansion and trial options for different RAS genotypes and tumor types.

• The company plans to continue commercialisation in the U.S on their own and seek partners outside the US where they have no direct commercialisation intentions.

More details: Revolution Medicines IR

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