On June 2, Revolution Medicines declined 5.13% in regular trading, trading at $153.18/share, with trading volume of $192 million. The pullback follows a sharp rally driven by the company's landmark Phase III RASolute 302 data presented at the ASCO annual meeting.

The sell-off reflects classic profit-taking after the stock had accumulated gains exceeding 15% in overnight and pre-market sessions on the preceding day. The ASCO presentation revealed that daraxonrasib doubled median overall survival to 13.2 months from 6.6 months for chemotherapy, and extended progression-free survival from 3.5 to 7.3 months in 500 previously treated metastatic pancreatic ductal adenocarcinoma patients. The data, simultaneously published in the New England Journal of Medicine, marks the first time a second-line pancreatic cancer therapy has pushed median OS beyond one year. While Oppenheimer raised its price target to $195, the magnitude of the prior surge created conditions for near-term profit-taking as the positive catalyst was fully absorbed by the market.

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