On July 31, Revolution Medicines, Inc. rose 5.02% in regular trading, trading at $190.0/share, with turnover of $230 million.

On the news front, the FDA formally accepted the company's New Drug Application (NDA) for Daraxonrasib, targeting previously treated metastatic pancreatic cancer patients. This acceptance marks a critical regulatory milestone, indicating the application is complete and has entered substantive review. Concurrently, Wedbush raised its price target from $181 to $192.10, maintaining an Outperform rating, with the analyst consensus mean target at $203.85.

The regulatory progress follows Phase 3 trial data showing Daraxonrasib doubled median overall survival to 13.2 months versus 6.7 months for chemotherapy. The European Medicines Agency has also initiated a phased accelerated review, further strengthening the global commercialization outlook. The company previously secured FDA expanded access authorization and launched the Rasolute 305 trial evaluating Zoldonrasib as a first-line pancreatic cancer therapy, broadening its oncology pipeline.

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