Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, has just announced the pricing of its underwritten public offering of 13,636,364 shares of common stock at a public offering price of $22.00 per share. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 2,045,454 shares of common stock. With the underwriting discounts and commissions taken into account, the offering is expected to fetch a total of $300.0 million. The offering is expected to close on March 7, 2023, subject to customary closing conditions.
Four top-tier investment firms have come together to spearhead the offering of a new security. J.P. Morgan, TD Cowen, SVB Securities, and Guggenheim Securities are acting as joint book-running managers, with UBS Investment Bank taking the lead. This exciting new offering is sure to be a success with these big players in the financial industry at the helm.
This announcement does not constitute an offer to sell or a solicitation of an offer to purchase these securities. Furthermore, these securities may not be sold in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the applicable securities laws.
About Revolution Medicines, Inc.
Revolution Medicines is pioneering a bold new approach to cancer treatment: developing highly targeted therapies for RAS-addicted cancers. Their R&D pipeline features RAS(ON) Inhibitors to suppress diverse oncogenic variants of RAS proteins, as well as RAS Companion Inhibitors to be used in combination strategies. By taking aim at the core drivers of cancer, Revolution Medicines is paving the way for a new era in cancer treatment.