Revolution Medicines' early-stage pancreatic cancer drug shows tumor control in half of patients

Revolution Medicines reported that its experimental therapy daraxonrasib helped control tumors in at least half of patients with early-stage pancreatic cancer, whether given alone or with chemotherapy, according to data presented at the American Association for Cancer Research meeting.

The results follow Phase 3 data released a week earlier that showed the drug nearly doubled survival for patients whose disease had progressed after prior treatment, a finding that sent the company's shares higher and pushed its market value above $30 billion.

The U.S. Food and Drug Administration has granted the drug a special regulatory fast‑track designation, which could allow approval within weeks of a formal submission.

Wall Street analysts view the promising data as a potential catalyst for a takeover, though recent rumors have cooled after Merck reportedly withdrew from acquisition discussions.