Revolution Medicines

The CHMP of the EMA has issued a positive opinion for Rasonque (Daraxonrasib) to treat adults with metastatic pancreatic adenocarcinoma after prior therapy. The decision now goes to the European Commission, which is expected to follow the opinion; the FDA had already approved the drug at the end of August. Studies showed that Rasonque roughly doubled participants’ survival time compared with chemotherapy. Price and reimbursement questions remain at the member-state level, and Revolution Medicines’ stock fell about six percent after the news. » More on deraktionaer.de

Parnassus Growth Equity Fund added Revolution Medicines as a new holding, citing strong late-stage clinical data for daraxonrasib in pancreatic cancer that could establish a new standard of care and drive significant commercial opportunity. The fund highlighted Revolution Medicines' broader potential across other cancers and its fit within long-term health care innovation themes. Recent company developments include FDA approval of Rasonque for metastatic pancreatic cancer, underscoring near-term commercialization prospects. » More on finance.yahoo.com

Revolution Medicines’ stock rose to an all-time high of $220.8 and is currently trading at $223.96, well above its 52-week low. The price jump followed the FDA approval of RASONQUE (Daraxonrasib) for metastatic ductal pancreatic adenocarcinoma and prompted target adjustments from several brokerages. H.C. Wainwright, Oppenheimer, Guggenheim and others raised price targets, while some analysts warned that a risk‑adjusted valuation may already be priced in. Revolution Medicines also launched two Phase 3 trials for non-small cell lung cancer, highlighting progress in its product pipeline. » More on de.investing.com