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Mar 31
Revolution Medicines Q1 2025 Earnings Report
Revolution Medicines reported increased R&D investment and expanded clinical activities during Q1 2025, while posting a net loss of $213.4 million.
Key Takeaways
Revolution Medicines continued executing its clinical strategy in Q1 2025 with substantial R&D spend and new clinical data disclosures, while maintaining a strong cash position of $2.1 billion.
Net loss increased to $213.4 million, up from $116.0 million year-over-year.
Cash, cash equivalents and marketable securities totaled $2.1 billion.
R&D expenses grew significantly to $205.7 million due to clinical trial and manufacturing expansion.
G&A expenses rose to $35.0 million as the company ramps up commercial preparations.
Revolution Medicines
Revolution Medicines
Forward Guidance
Revolution Medicines reaffirmed its projected GAAP net loss of $840–$900 million for full year 2025, and stated it expects its cash resources to fund operations into the second half of 2027.
Positive Outlook
- Cash runway expected to extend into H2 2027.
- Planned pivotal trials for daraxonrasib as 1L and adjuvant treatment remain on track.
- Encouraging early clinical data from zoldonrasib and elironrasib support further development.
- Advancing new RAS(ON) programs like RMC-5127 to clinic-ready stage in 2025.
- Robust progress in U.S. commercialization planning with new executive hire.
Challenges Ahead
- Increased R&D expenses driven by clinical trial costs and manufacturing.
- G&A costs rose due to commercialization preparations and new hires.
- Net loss widened year-over-year due to higher investment in operations.
- No revenue generated in the current quarter.
- Significant ongoing reliance on external capital markets remains a risk.