BUZZ-Revolution Medicines stock drops due to concerns over pancreatic cancer drug data
路透社2026/10/08 18:26On October 8, Revolution Medicines (RVMD.O) shares fell 8.1% in afternoon trading to $185.91. RBC Capital Markets stated that the share price decline appeared to be driven by the latest U.S. Food and Drug Administration (FDA) review documents regarding the company's pancreatic cancer drug Rasonque, particularly the disclosure of objective response rate data for specific RAS mutation subgroups. RBC pointed out that overall survival, rather than objective response rate, is a more meaningful indicator of efficacy, and that the sell-off overlooked Rasonque's broad activity across a variety of RAS mutation subgroups. RBC stated: "While we acknowledge that today's share price decline takes place against the backdrop of overall weakness in the biotech sector, we still believe that the market's reaction to the FDA review documents is an overreaction, given that the drug was approved on the basis of highly clinically meaningful efficacy and has received positive feedback from physicians." Including intraday fluctuations, the stock has more than doubled year-to-date. (Note: For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Automated translations may be inaccurate or lack necessary context; Reuters does not guarantee the accuracy of these automated translations and provides them only for reader convenience. Reuters does not accept liability for any damage or loss arising from the use of automated translation features.)
October 8 - ** Revolution Medicines (RVMD.O) shares fell 8.1% in afternoon trading, closing at $185.91
** RBC Capital Markets stated that the share price decline appears to have been influenced by the latest review documents released by the U.S. Food and Drug Administration (FDA) regarding the company's pancreatic cancer drug Rasonque (link), particularly the disclosure of objective response rate data for the RAS mutation subgroups
** RBC pointed out that overall survival, rather than objective response rate, is a more meaningful measure of efficacy, and that the current sell-off overlooks the broad activity Rasonque demonstrates across various RAS mutation subgroups
** RBC said: “While we acknowledge today’s share price decline is set against the backdrop of weakness in the biotech sector as a whole, we still believe the market’s reaction to the FDA review document is an overreaction, given the drug was approved based on clinically meaningful efficacy and has received positive feedback from physicians.”
** Including intraday volatility, the stock has more than doubled since the beginning of the year
(To facilitate non-native English speakers, Reuters has automated the translation of its reports into several other languages. Since automated translation may contain errors or may not include the required context, Reuters does not guarantee the accuracy of automated translation texts. Automated translation is provided only for the convenience of readers. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Canadian used car dealer UC Automotive (UCAU.RC.US) files for IPO in the US: aims to raise 29 million USD and list on Nasdaq
Canadian used car dealer UC Automotive has applied for a Nasdaq IPO, aiming to raise up to $29 million, with its main focus on the Greater Vancouver market. Kingswood is the sole underwriter.
Swiss Franc weakens as Fed hawkish outlook lifts USD/CHF
Crypto prices
More
