On September 25, Revolution Medicines, Inc. rose 5.09% in regular trading, trading at $200.44 per share, with turnover of $538 million. The rally was driven by a convergence of positive catalysts, including multiple investment bank price target upgrades and an FDA breakthrough therapy designation for its lead drug.

On September 15, the company announced that Rasonque (daraxonrasib) plus chemotherapy received FDA Breakthrough Therapy Designation for first-line treatment of metastatic pancreatic adenocarcinoma. This followed Rasonque's FDA approval in late August, priced at $39,800 for a 30-day supply. BofA Securities raised its price target to $265 from $225 on September 21, maintaining a Buy rating. Morgan Stanley initiated coverage with an Overweight rating and a $255 target, modeling approximately $12 billion in peak risk-adjusted portfolio sales by 2036. RBC projects $249 million in U.S. sales for Rasonque this year, citing rapid physician adoption and minimal payer friction. UBS and Jefferies also raised targets to $265 and $270, respectively.

Revolution Medicines, Inc. is a precision oncology company founded in 2014, focused on developing targeted therapies for RAS-addicted cancers, with a deep pipeline spanning multiple RAS variants.

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