Revolution Medicines, Inc. (NASDAQ:RVMD) Q4 2023 Earnings Call Transcript

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Mark Goldsmith: Thanks, John. Hard to answer that question because there’s so many different data sets that we’ve listed there that could come out in the second half of the year. Although our preference is to disclose such information in the context of peer-reviewed medical conferences, it’s not always up to us, it just depends on the timing and availability, often these things require abstracts that are submitted long ahead of when we might have the information. So we’ll pick a forum for each of the disclosures that suits it to make sure that we’re not holding on to data that investors need to know about.

Unidentified Analyst: Okay, thank you for the color.

Operator: Thank you. [Operator Instructions] And our next question comes from the line of Jay Olsen with Oppenheimer. Your line is now open.

Jay Olsen: Oh, hey, congrats on the progress, and thank you for taking the question. As you look ahead to the potential for multiple pivotal trials, can you just talk about how you’re thinking about partnering opportunities both in the U.S. and outside the U.S.?

Mark Goldsmith: Hi, Jay, thanks for joining us, and thanks for your question. I think, again, we’ve been pretty consistent about this, which is that in the U.S. we really believe this is a serious opportunity for Rev Med to build its own franchise and to use the RAS portfolio to create a very strong and leading franchise. So I don’t think we’re particularly keen on sharing any of that with a partner, and I don’t think there’s any reason to do so at least as we see things today. Outside the U.S., it’s pretty clear that we don’t have much opportunity there. That’s a much more complex context in which to think about commercializing. We can’t do development outside the U.S. We already do development outside the U.S., but doing pivotal late stage global development typically takes a real appreciation of the nuances in different country settings and different geographies, so that can be done — that can be enhanced by working with a partner that already has that infrastructure.

And then, of course, commercialization per se is not something that we have any near-term plan to pursue on our own. So I think it’s pretty clear that an ex-U.S. partner or partners could be in the offering for us at some point in the future. We’re open to that possibility, and when the right opportunity presents itself and it makes sense for us to do it, I’m sure we would do so.

Jay Olsen: Super helpful. Thank you very much. And if I could ask one follow-up, as you look ahead to the potential tumor agnostic setting for 6236, can you just talk about the regulatory path that you’re thinking about there?

Mark Goldsmith: Dr. Wei Lin is strong [Technical Difficulty]

Wei Lin: Yes, happy to address that. I think we already presented probably activity in non-small cell lung cancer as well as pancreatic cancer, so those are probably going to be served as anchor in our approach with tissue agnostic. Right now, we’re actually rolling patients with colorectal cancer, melanoma, as well as gynecologic cancers, as well as other solid tumor, and obviously to be very much data-driven, but there’s our aspiration given the broad activity we’ve seen frequently that this molecule could potentially help as many as 30% of patient with solid tumor with RAS mutations. So we certainly like to test that hypothesis to the fullest and then the data will drive our decision about how much of a tissue mass can be as far as.

Jay Olsen: Okay, great. Thanks again for taking the questions.

Operator: Thank you. [Operator Instructions] Our next question comes from the line of Laura Prendergast from Raymond James. Your line is now open.

Laura Prendergast: Hey, guys, thanks for taking the questions, and look forward to seeing all these data updates later in the year. Just one for me. Curious, since you’re running at the same time this Pan-RAS trial and then RAS selective clinical trials, have you got any feedback from trial investigators on how they make the decision on whether to enroll patients on the Pan-RAS trial or a RAS selective trial? Assuming that you probably have some trials going on at the same locations, I’m just curious if you’ve got any insight there.

Mark Goldsmith: Yes, I’ll just make general comment. In most of the indications we’re talking about, the need for these compounds is so high that there are more patients that we can possibly support in these early-stage clinical trials where the size of the trial just is inherently limited. So I don’t think there’s really any sort of near-term issue associated with that. But maybe Wei wants to comment further about when you’re into pivotal trials, how might that affect, if any?

Wei Lin: Yes. I think the business should reflect fairly well of what we see so far in terms of [indiscernible] patients methamphetamine we’re addressing, I think, just really highlight this is a usual situation as is the biggest driver in all of oncology. And then by enabling the drug it really unlocks a huge unmet need. So all the patients come in interest in our trial is a reflection on that.

Laura Prendergast: Great. Very helpful. Thank you very much.

Operator: Thank you. [Operator Instructions] Our final question comes from the line of Ben Burnett with Stifel. Your line is now open.

Unidentified Analyst: Hi, this is [Kelly Reed] (ph) on for Ben Burnett. Thanks for taking our questions. I just had one quick question about RMC-6236. I was wondering if you could give us any additional color on how the confirmed response rates for non-small cell lung and PDAC are trending post-ESMO? Thank you.

Mark Goldsmith: Yes, thanks for your question. As we mentioned in January and reiterated here, we’ve seen favorable trends in the response rates. You’re asking specifically about confirmation, I think generally what I can say is that most responses do confirm most of the responses that had been unconfirmed previously have been subsequently confirmed, except in those instances where somebody progressed in the interim or had to come off of drug and will never have the opportunity to confirm. So most of these do confirm. I’m not going to be able to give you specific confirmed rates today in part because these are ongoing trials, and so what happens is you’re always enrolling new patients and getting unconfirmed responses while we’re being asked about what’s the confirmed response rate. So I’d say, you’ll have to hang on and wait until later in the year when we’ll try to give more precise information.

Unidentified Analyst: Okay. Thank you very much.

Operator: Thank you. I’m currently showing no further questions in the queue at this time, I’d like to hand the conference back over to Dr. Mark Goldsmith for closing comments.

Mark Goldsmith: Well, thank you, operator, and thank you, everyone, for participating today and for your continued support of Revolution Medicine.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.

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