Revolution Medicines reports blockbuster Q3 earnings after FDA approval of RASONQUE
Revolution Medicines announced that its newly FDA‑approved oral RAS inhibitor, RASONQUE, generated strong third‑quarter 2026 sales. The company posted net product revenue of roughly $198 million and reaffirmed its 2026 GAAP operating expense guidance of $2.1 billion‑$2.2 billion. Management highlighted rapid U.S. uptake, expanding payer coverage and a robust cash position of about $3.7 billion.
Why it matters
The revenue beat drove the stock to rise about 7%, and several analysts lifted their price targets, including HC Wainwright to $350, indicating heightened investor optimism. The reaffirmed expense guidance and strong cash balance provide financial stability for continued pipeline development.
Key facts
- 1The FDA approved RASONQUE on August 26 for metastatic pancreatic adenocarcinoma. finance.yahoo.com
- 2Revolution Medicines reported net product revenue of $197.6 million in Q3 2026. investing.com
- 3The company reaffirmed its 2026 GAAP operating expense guidance of $2.1 billion‑$2.2 billion. seekingalpha.com
- 4Cash and marketable securities totaled approximately $3.7 billion at quarter‑end. investing.com
- 5The stock surged roughly 7.0% in mid‑day trading following the earnings release. investing.com
- 6HC Wainwright raised its price target to $350 and reiterated a "buy" rating. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.