Revolution Medicines RVMD announced that the FDA has accepted its regulatory filing seeking approval for its lead candidate, daraxonrasib, for previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC).
The submission is being reviewed under the agency’s Commissioner’s National Priority Voucher (“CNPV”) pilot program — an initiative designed to significantly accelerate the review of therapies targeting serious or life-threatening diseases with high unmet medical needs. The program uses a collaborative review process to compress review timelines well below the standard 10-month review period (or about six months for drugs granted priority review).
The filing is supported by data from the phase III RASolute 302 study, which met all its primary and secondary endpoints. Recently, Revolution Medicines reported full results from this study, which showed that daraxonrasib reduced the risk of death by 60% compared with chemotherapy and nearly doubled median overall survival. The treatment also significantly improved progression-free survival and quality-of-life measures.
Cytotoxic chemotherapy is considered the standard of care for previously treated metastatic PDAC, a setting in which effective therapies remain limited. If approved, daraxonrasib could become a new treatment option for this patient population.
An approval would also mark a major inflection point for Revolution Medicines. Daraxonrasib would become the company's first marketed product, transforming it from a clinical-stage biotech into a commercial-stage company with its first revenue-generating therapy. A successful launch would also validate the company's RAS-targeting platform and establish a commercial foundation for advancing its broader oncology pipeline.
RVMD Stock’s Price Performance
Year to date, the company’s shares have skyrocketed 130% compared with the industry’s 2% growth.
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More on RVMD’s Daraxonrasib
Daraxonrasib is designed to target a broad spectrum of RAS-driven cancers, including PDAC, non-small cell lung cancer (NSCLC) and colorectal cancer.
Apart from RASolute 302, Revolution Medicines is evaluating daraxonrasib in several other PDAC settings in late-stage studies. While the RASolute 303 study is assessing the drug for the first-line metastatic setting of the disease, the RASolute 304 study is evaluating its efficacy as an adjuvant therapy for patients with resectable PDAC.
For NSCLC, the company is conducting the phase III RASolve 301 study evaluating daraxonrasib in patients with locally advanced or metastatic RAS-mutated NSCLC. It is on track to start a fifth late-stage study on the drug in the first-line NSCLC setting soon.
To further strengthen its position in RAS-driven cancers, Revolution Medicines has established multiple clinical collaborations to evaluate daraxonrasib and its other RAS inhibitors in combination regimens. These partnerships include collaborations with Bristol Myers BMY, Summit Therapeutics SMMT and Tango Therapeutics TNGX.
Revolution Medicines, Inc. Price
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RVMD’s Zacks Rank
Revolution Medicines currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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