On June 1, Revolution Medicines rose 7.95% overnight, trading at $170.0/share, with trading volume of $13,100. The rally was driven by heightened anticipation ahead of the ASCO annual meeting, where the company is set to present full Phase III RASolute 302 study data for its core asset daraxonrasib in pancreatic cancer.

The RASolute 302 trial evaluated oral RAS inhibitor daraxonrasib versus chemotherapy in previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) patients. Topline data showed daraxonrasib extended median overall survival to 13.2 months compared to 6.7 months for chemotherapy — nearly doubling OS and marking the first time a second-line PDAC therapy has pushed median OS beyond one year. Pancreatic cancer remains one of the most intractable malignancies, with a 5-year relative survival rate of approximately 13%. RAS mutations are highly prevalent in PDAC, yet clinically validated RAS-targeted agents have been scarce until now. Daraxonrasib also demonstrated a favorable safety profile with no new safety signals, offering meaningful quality-of-life advantages over intravenous chemotherapy. The upcoming formal ASCO presentation is expected to provide additional granularity on these landmark results.

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