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Revolution Medicines' Drug Shows Survival Benefit in Pancreatic Cancer Trial; Shares Rise Pre-Bell
Revolution Medicines (RVMD) said Monday the phase 3 trial of its experimental drug, daraxonrasib, to treat a type of pancreatic cancer met key goals, showing significant improvements in progression-free and overall survival versus standard chemotherapy.The company said the drug delivered a median overall survival of 13.2 months, compared with 6.7 months for chemotherapy.The drug developer said it plans to submit the data to global regulators, including the US Food and Drug Administration, for marketing application.Shares of the company were up over 34% in Monday's premarket activity.Price: $129.87, Change: $+33.10, Percent Change: +34.32%
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