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Investing.com -- Revolution Medicines Inc (NASDAQ:RVMD) stock jumped 7.7% in premarket trading Friday after the company announced that the U.S. Food and Drug Administration (FDA) has granted a non-transferrable voucher for its cancer drug daraxonrasib under the Commissioner’s National Priority Voucher (CNPV) pilot program.
The late-stage clinical oncology company is developing daraxonrasib, a RAS(ON) multi-selective inhibitor, for patients with RAS-addicted cancers. The drug is currently being studied in two global Phase 3 clinical trials: RASolute 302 for patients with previously treated metastatic pancreatic ductal adenocarcinoma and RASolve 301 for patients with previously treated metastatic non-small cell lung cancer.
"We are honored to receive one of the first vouchers awarded under the Commissioner’s National Priority Voucher pilot program. As with the Breakthrough Therapy Designation daraxonrasib received earlier this year, we believe this voucher recognizes the large unmet need for new treatments for patients with RAS-addicted cancers and the potential of the investigational drug daraxonrasib to transform treatment for these diseases, including pancreatic cancer," said Mark A. Goldsmith, chief executive officer and chairman of Revolution Medicines.
The CNPV pilot program was designed by the FDA to accelerate the development and review of certain drugs that align with U.S. national health priorities and enhance Americans’ health interests.
Revolution Medicines stated it is evaluating the impact of the voucher but is not adjusting any of its previously disclosed timelines at this time. The company expects data readout from its RASolute 302 trial in 2026.
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