Revolution Medicines dips after announcing $1 bln raise following pancreatic cancer drug data

Revolution Medicines

13/04/2026 21:33

** Revolution Medicines RVMD.O shares down ~1% in extended trading to $134.76 as co looks to raise capital on heels of survival data for its pancreatic cancer drug

** RVMD shares surged 41.3% to a record high close of $136.30 on Mon after co said its experimental pill, daraxonrasib, helped patients live nearly twice as long as those treated with chemotherapy in a keenly anticipated late-stage trial

** After the bell, RVMD announces $750 mln stock offering and $250 mln offering of convertible bonds due 2033

** JP Morgan, TD Cowen and Guggenheim Securities joint bookrunners for offerings

** Redwood City, California-based RVMD has ~198.2 mln shares outstanding for $27 bln current market cap

** All 21 analysts covering the stock are bullish including 9 "strong buy" ratings; median PT $145, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))