Earnings Releases·Nov 4, 2026, 4:05 PM ET

Revolution Medicines — Third Quarter 2026 Earnings Summary

Net product revenue reached $197.6 million in Q3 2026 following FDA approval of RASONQUE, compared to $0 in the prior year period, while net loss widened to $407.5 million from $305.2 million due to increased R&D, SG&A, and non-cash warrant charges.
The company reiterated full-year 2026 GAAP operating expense guidance of $2.1 billion to $2.2 billion and maintains a strong liquidity position with $3.7 billion in cash and marketable securities as of September 30, 2026.
RASONQUE achieved U.S. FDA approval in August 2026 with over 5,000 unique patients treated by quarter-end, receiving Category 1 Preferred NCCN Guidelines status and a positive CHMP opinion for EU approval, though European commercialization remains pending.
Strategic progress includes the initiation of the RASolute 303 Phase 3 trial completion, the launch of RASolve 307 and RASonate 312 trials, and a new collaboration with BeOne Medicines for Asian rights, alongside the decision not to draw the optional $250 million Royalty Pharma tranche.