Revolution Medicines To Make U.S. Trading Debut Next Week
Redwood City, California-based Revolution Medicines is slated to debut on the Nasdaq Global Select Market, under the symbol ‘RVMD’, on February 12, 2020.
Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies for the treatment of a variety of cancers.
The company has offered to sell 10.0 million shares of its common stock in the offering, and has granted the underwriters an option for 30 days to purchase up to 1.5 million additional shares of common stock.
The initial public offering price is expected to be between $14 and $16 per share.
Underwriters of the IPO:
J.P. Morgan Securities LLC, Cowen and Company, LLC, SVB Leerink LLC, Guggenheim Securities, LLC
The company’s lead candidate is RMC-4630, a potent and selective inhibitor of SHP2, a cellular enzyme in the protein tyrosine phosphatase family that plays an important role in multiple forms of cancer and in regulating the immune system.
RMC-4630 is under two clinical studies, dubbed RMC-4630-01 and RMC-4630-02, in adult participants with relapsed/refractory solid tumors.
RMC-4630-01 is a phase I study of RMC-4630 as a single agent while RMC-4630-02 is a phase 1b/2 study of RMC-4630 in combination with Genentech’s FDA-approved Cotellic.
Revolution Medicines has a partnership with Sanofi for the development of RMC-4630.
The company has also planned a phase Ib trial of RMC-4630 in combination with Amgen’s investigational drug AMG 510 in subjects with advanced solid tumors harboring the KRASG12C mutation.
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