On June 2, Revolution Medicines rose 5.11% in regular trading, trading at approximately $165.45/share, with trading volume of $7.53 billion. The stock continued its upward momentum following landmark Phase 3 clinical data presented at the ASCO annual meeting.

The company's pivotal RASolute 302 trial enrolled 500 previously treated metastatic pancreatic ductal adenocarcinoma patients. Results showed daraxonrasib doubled median overall survival to 13.2 months versus 6.6 months for chemotherapy, while progression-free survival improved from 3.5 to 7.3 months. The data was simultaneously published in The New England Journal of Medicine. This marks the first time a second-line pancreatic cancer therapy has extended median OS beyond one year, representing a milestone breakthrough in RAS-targeted therapy.

Oppenheimer raised its price target from $165 to $195 while maintaining an Outperform rating. The analyst consensus mean target stands at $184.29 with an average Buy rating. The company is also advancing daraxonrasib into first-line treatment and combination therapy trials, broadening its commercial outlook.

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