Revolution Medicines Stock Declines After Clinical Data Update
On Monday, Revolution Medicines, Inc. (NASDAQ:RVMD) shares declined by 10% following a clinical data update. The company, focused on developing treatments for RAS-dependent cancers, shared updates from its RAS(ON) inhibitor portfolio in an investor webcast.
The presentation included data from the Phase 1 RMC-6236 monotherapy study for pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC). Additionally, new data from combination studies including RMC-6236 with pembrolizumab, RMC-6291 with pembrolizumab, and the RAS(ON) inhibitor dual combination of RMC-6291 and RMC-6236 were discussed.
In the PDAC cohort, RMC-6236 demonstrated a positive safety profile and showed promising antitumor activity, particularly in patients with the KRAS G12X mutation. For this group, the median progression-free survival (PFS) was 8.8 months, with a 100% survival rate observed six months after treatment initiation. The objective response rate (ORR) for patients with the KRAS G12X mutation was 36%. These results support the ongoing RASolute 302 Phase 3 trial, reinforcing plans to advance RMC-6236 to earlier treatment stages for metastatic PDAC.
For the NSCLC cohort, RMC-6236 was well-tolerated at doses ranging from 120 mg to 220 mg once daily. In patients previously treated with immunotherapy and platinum-based chemotherapy, the ORR was 38%, and the median PFS was 9.8 months. These findings bolster the initiation of the RASolve 301 Phase 3 trial, expected to start in the first quarter of 2025, which will compare RMC-6236 to docetaxel in previously treated, locally advanced or metastatic RAS mutant NSCLC.
The combination of RMC-6236 with pembrolizumab in NSCLC patients also exhibited a favorable initial safety profile, encouraging further evaluation in first-line NSCLC treatment. Meanwhile, the RAS(ON) inhibitor dual combination of RMC-6291 and RMC-6236 in colorectal cancer patients previously treated with the KRAS(OFF) G12C inhibitor showed a 25% ORR and a 92% disease control rate (DCR), underscoring the potential of this treatment strategy.
Revolution Medicines aims to continue developing RAS(ON) dual combinations across various tumor types and earlier treatment stages. The company also plans to investigate the triple combination of RMC-6291 and RMC-6236 with pembrolizumab as an option to avoid chemotherapy in first-line NSCLC patients.
TD Cowen reiterated its "Outperform" rating for Revolution Medicines, emphasizing the potential of RMC-6236 to become a standard treatment in PDAC and NSCLC, noting significant upside potential as the drug advances to earlier stages in PDAC treatment. The analyst anticipates that RMC-6236 will likely gain approval for second-line lung cancer treatment and has a clear pathway for progression in first-line treatment settings.