Revolution Medicines reports Q3 2026 results; RASONQUE generates $197.6M net product revenue in partial launch quarter
FY2026 GAAP operating expenses was maintained by $0.0M to $2.1 billion to $2.2 billion (midpoint $2.15 billion). Revolution Medicines reported Q3 2026 net product revenue of $197.6 million from RASONQUE (daraxonrasib), reflecting approximately five weeks of commercial availability following FDA approval on August 26, 2026. Net loss was $407.5 million compared to $305.2 million in Q3 2025, with the increase driven by higher clinical trial and manufacturing expenses and commercial launch costs. The company maintai...
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Key takeaways
RASONQUE net product revenue of $197.6 million in Q3 2026 reflects approximately five weeks of commercial sales following FDA approval on August 26, 2026.
Net loss widened to $407.5 million in Q3 2026 versus $305.2 million in Q3 2025, driven by increased R&D expenses ($417.1M vs $262.5M) and higher SG&A expenses ($153.3M vs $52.8M) for the commercial launch.
Cash position was $3.7 billion as of September 30, 2026, excluding $250 million in proceeds received in October from the first mandatory debt tranche under the Royalty Pharma funding arrangement.
Full-year 2026 GAAP operating expense guidance of $2.1 billion to $2.2 billion was reiterated, including non-cash stock-based compensation expense of $270 million to $290 million.
FDA granted Breakthrough Therapy Designation for daraxonrasib in combination with gemcitabine and nab-paclitaxel for treatment-naïve metastatic pancreatic cancer.
CHMP adopted a positive opinion recommending marketing authorization of daraxonrasib in the European Union for metastatic pancreatic cancer.
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