MW Why doctors stood up and cheered mid-presentation for a historic pancreatic cancer treatment

By Barbara Kollmeyer

'Daraxonrasib will be a historic oncology launch,' says analyst

An image of a pancreatic cancer cell. Revolution Medicines got a standing ovation in a presentation of the biotech's pancreatic cancer drug.

The announcement of a successful late-stage treatment that nearly doubles the survival for patients with deadly pancreatic cancer brought an audience of doctors and other global oncology professions to their feet on Sunday.

The oral cancer drug from Revolution Medicines (RVMD) , called daraxonrasib, showed dramatic success in a late-stage trial for patients with previously treated metastatic pancreatic cancer. Patients with one of the deadliest forms of cancer survived a median of 13.2 months on that drug, versus 6.7 months on chemotherapy. The trial, which involved 500 patients, targets the so-called RAS mutations that drive over 90% of pancreatic cancers. Patients also reported fewer side effects than those on chemotherapy.

"Daraxonrasib significantly elevates the survival bar in the treatment of one of the deadliest human cancers, while better preserving quality of life compared with chemotherapy," Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines, said in a press release on Sunday.

That survival rate this strong has "not previously reported in any Phase 3 clinical trial in any line of therapy for this disease," he said. "These striking results firmly support daraxonrasib as the new standard of care for patients with previously treated metastatic pancreatic cancer, and usher in a new era of RAS-targeted therapy for patients living with this disease."

And it wasn't just the oncology world cheering the company. Shares of Revolution, which have climbed 287% over the past 12 months, jumped 14% in premarket trading.

The results were presented during a session at the 2026 American Society of Clinical Oncology annual meeting in Chicago on Sunday.

The RAS G12 mutation accounts for most pancreatic cancers, but the study also showed that same high rate of survival for those without that specific mutation.

"The reception/discussion leaves us with no doubt that daraxonrasib will be a historic oncology launch. Wherever consensus launch estimates settle, they will likely still be too low," said Evercore analyst Cory Kasimov and his colleagues. They rate Revolution Medicines an an outperform with a $200 per share target price.

Revolution Medicines said it intends to submit the drug's data to the U.S. Food and Drug Administration via a new, fast-track approval mechanism that could take as little as two months. The FDA recently authorized the company to initiate an expanded access treatment protocol for daraxonrasib for eligible patients.

-Barbara Kollmeyer

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 01, 2026 04:37 ET (08:37 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.