Good day, and thank you for standing by. Welcome to the Revolution Medicine's Q1 2026 earnings call. At this time, participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand it over to Ryan A.C., Senior VP of Corporate Affairs. Ryan, you have the floor.

Thank you, Operator, and welcome, everyone, to the first quarter 2026 earnings call. Joining me on today's call are Dr. Mark Goldsmith, Revolution Medicine's Chairman and Chief Executive Officer, Dr. Alan Sandler, our Chief Development Officer, and Jack Anders, our Chief Financial Officer. Dr. Steve Kelsey, our president of R&D, Dr. Wei Lin, our chief medical officer, and Anthony Mancini, our chief global commercialization officer, will join us for the Q&A portion of today's call. We would like to inform you that certain statements we made during this call will be forward-looking because such statements deal with future events and are subject to many risks and uncertainties. Actual results may differ materially from those in forward-looking statements. For a full discussion of these risks and uncertainties, please review our annual report on Form 10-K and our quarterly report on Form 10-Q that are filed at the U.S. Securities and Exchange Commission. This afternoon, we released financial results for the quarter ended March 31, 2026 and recent corporate updates. The press release and updated corporate presentation are available on the investors section of our website at revmed.com. With that, I'll turn the call over to Dr. Mark Goldsmith, Revolution Medicine's Chairman and Chief Executive Officer. Mark?

Thanks, Ryan. It's good to be with you this afternoon to discuss the tremendous progress we've made in 2026. This is a pivotal moment for our organization and for patients worldwide living with pancreatic cancer who are in need of new therapeutic options. It is anchored by the top-line readout for Resolute 302 last month, in which diraxon-racid monotherapy demonstrated an unprecedented improvement in overall survival compared with chemotherapy in patients with previously treated metastatic pancreatic cancer. The Resolute 302 results represent the transformative advance for patients. They also firmly validate our pioneering RAS on inhibitor strategy and reinforce its potential to improve outcomes in RAS-driven cancers. High investor conviction enabled an historic $2 billion dual-tronche capital raise that will allow us to continue our important work broadly, advancing our current portfolio of four groundbreaking clinical stage oral RAS on inhibitors and bringing forward the next wave of innovation targeting RAS-addicted cancers, including our new class of catalytic RAS-on inhibitors. On today's call, following my remarks, I'll pass the call over to Dr. Alan Sandler, who will provide an overview on the recent clinical progress we've made across our portfolio, including the most recent data presented at the American Association for Cancer Research Annual Meeting. Jack Anders will then summarize our first quarter financial results before we open a call to Q&A. Let me first spend a few moments talking about Resolute 302, the global phase 3 trial evaluating Draxon Rassib monotherapy in patients with previously treated pancreatic cancer. The top-line readout for Draxon Rassib marked a major milestone in this disease, significantly raising the bar in the development of new treatments for patients living with pancreatic cancer, the most Rass addicted of all human cancers. In Resolute 302, Draxon Rastib demonstrated unprecedented impact, meeting its primary and key secondary endpoints, and showing statistically significant and clinically meaningful improvement in progression-free survival and overall survival compared to standard-of-care chemotherapy. In the overall intent-to-treat study population, which includes patients carrying tumors with or without an identified RAS mutation, Draxon RAS have drove a 60% reduction in risk of death compared with chemotherapy and with a median overall survival exceeding one year. Draxon RAS was generally well-tolerated and no new safety signals were observed. These are dramatic practice-changing results and our focus now is on moving with urgency to bring this potential new option to patients. We intend to submit a new drug application to the U.S. Food and Drug Administration under the FDA commissioner's national priority voucher program and will also execute our plan to file with other global regulatory authorities. And last week, we reported that the FDA issued a state-to-proceed letter allowing us to initiate an expanded access treatment protocol or Diracxon Rastib in patients with previously treated metastatic pancreatic cancer. This will allow us to move as quickly as possible to ensure safe and equitable access to draxon acid for eligible patients in the U.S. We were also pleased to announce recently that Resolute 302 will be featured in the plenary session of this year's American Society of Clinical Oncology, or ASCO, annual meeting in Chicago. We and the investigators look forward to sharing detailed results with the scientific community at that time. I'll now pass the call over to Alan to walk through some recent clinical program updates. Alan?

Thanks, Mark. The extraordinary results from Resolute 302 validate our tricomplex inhibitor platform and give us increased confidence in Diraxon RASIB's potential in earlier treatment lines in pancreatic cancer. This confidence was reinforced at AACR, where we shared updated clinical data from the Phase I-II studies for Diraxon RASIB monotherapy and in combination with chemotherapy in first-line metastatic pancreatic cancer. Both the monotherapy and combination cohorts demonstrated encouraging preliminary durability data. In the monotherapy study, while median progression-free survival and median overall survival were not mature as of the data cutoff, the Kaplan-Meier estimates at six months were 71% and 83%, respectively. In the combination of Diraxxon RASIB with gemcitabine and navpaclitaxol, Kaplan-Meier estimates its six months for progression-free survival and overall survival were 84% and 90%, respectively. Across both studies, Diraxxon RASIB's safety and tolerability profile remained consistent with earlier findings in this patient population with no new safety signals observed. These compelling results strongly support our decision to rapidly advance Resolute 303, our phase 3 study evaluating both diraxon-rasnib monotherapy and diraxon-rasnib in combination with chemotherapy in first-line metastatic disease. The trial is enrolling globally. In addition to our first and second line diraxon-racid registrational studies in pancreatic cancer, patient enrollment is ongoing in Resolute 304, our registrational trial of diraxon-racid monotherapy in the adjuvant setting in patients with resectable disease following conventional surgery and perioperative chemotherapy. We're also making progress in two registrational studies for Zoldan Rassib, our covalent Raffon G12D selective inhibitor in first-line pancreatic cancer. We have initiated Razolute 305, a randomized double-blind placebo controlled registrational trial evaluating Zoldan Rassib in combination with investigators' choice of chemotherapy, either gencitabine and nabtaclitaxel or modified fulfirinox compared with placebo plus chemotherapy. And we remain on track to initiate Ravolute 309, our first registrational study to evaluate the Rathon inhibitor doublet combination of Zoldan Rathib with duraxon RASM in the second half of the year. Moving to non-small cell lung cancer, another focus of development for RASM inhibitors. With approximately 30% of non-small cell lung cancers harboring a RAS mutation, including 18% with non-G12C mutations, unmet needs in non-small cell lung cancer remain a priority that we aim to address through several ongoing and planned registrational studies. Beginning with Diraxxon Rastib, we continue to enroll patients globally in RESOLVE-301, our global randomized trial evaluating Diraxxon Rastib monotherapy in previously treated patients. Based on the strength of the Phase I results for Diraxxon Rastib monotherapy in non-small cell lung cancer, as well as additional confidence from the recent positive Resolute 302 results, we are expanding the Resolve 301 study to increase the statistical power of the overall survival component of the dual primary endpoint. Enrollment is going well, and we anticipate substantially completing enrollment in the expanded study this year. We also expect to disclose our plans regarding diraxon-racib combination therapy in first-line non-small cell lung cancer this year. Turning to G12D non-small cell lung cancer, at AACR, we presented updated clinical data for zoldan-racib monotherapy in a subset of patients who had previously been treated with immune checkpoint inhibitors and platinum chemotherapy. Zoldan-racib was generally well tolerated and demonstrated a safety profile consistent with previously reported findings. Zoldan Rasib demonstrated encouraging clinical activity with a confirmed objective response rate of 52%, disease control rate of 93%, and a median progression-free survival of 11.1 months. Overall survival data were immature at the time of analysis. The estimated survival rate at 12 months was 73%, while the median had not yet been reached, which is encouraging data at this early look. We continue to believe deeply in the potential of Zoldan-Rasib given its compelling safety and tolerability profile and encouraging clinical activity, which strongly support our plans to advance Zoldan-Rasib across monotherapy and combination setting in lung cancer and other RAS G12D-driven cancers. Building on the strength of our monotherapy data, we are preparing to initiate, in the first half of this year, Resolve 308, a global, double-blind, placebo-controlled registrational trial evaluating Zoldan-Rasib in combination with the Keynote 189 regimen. which is the standard of care in first-line treatment for metastatic non-small cell lung cancer compared to the Keynote 189 regimen with placebo. For patients with G12C non-small cell lung cancer, Eleron Rastib, a Raston mutant selective inhibitor, has demonstrated a differentiated and compelling clinical profile in both G12C inhibitor NAIS and G12C inhibitor experienced lung cancer patients. We remain on track to share an update on our Eleron-RASIB registrational strategy this year. Our third RAS-addicted cancer focus is colorectal cancer, which remains an area of high unmet need and interest for the company. We have a range of combination studies underway designed to better understand this genetically complex and heterogeneous disease, including studies to evaluate RathOn inhibitor doublet combination and RathOn inhibitors in combination with current standards of care and with other targeted drugs. We remain on track to share combination data this year as we work to prioritize registrational opportunities. I'll conclude with brief highlights on two of our early-stage programs. We continue enrolling patients in the first in human trial of RMC5127, our fourth RAS on inhibitor. RMC5127 is selective for RAS G12V, the second most common RAS variant in solid tumors. We expect to identify a recommended monotherapy phase 2 dose for this compound in the second half of 2026. Finally, AACR brought with it the opportunity to showcase our new class of innovative mutant-targeted catalytic RAS-on inhibitors. These inhibitors are designed to promote the conversion of mutant RAS in its active GTP-bound RAS-on state back to the inactive GDP-bound RAS off-state, thereby mimicking the normal physiologic regulation of wild-type RAS. These preclinical data demonstrated that at well-tolerated doses, RM055 achieved robust and durable antitumor activity across KRAS G12 mutant xenograft models of pancreatic cancer, non-small cell lung cancer, and colorectal cancer. Notably, tumors that had escaped prior RAS inhibitor treatment were sensitive to RM055, which drove deep and durable regression. Its compelling differentiated profile warrants clinical investigation of its potential to counter emergent drug-resistant and to extend clinical benefit, and we remain on track to initiate a first-in-human clinical trial in the fourth quarter. With that, I'd like to pass the call back over to Mark. Mark?

Thanks, Alan. In addition to the substantial R&D progress we've made across our pipeline, we continue to be very gratified by the build-out of our commercialization infrastructure and operational capabilities to support the company's global commercialization ambitions. We've established the operational wherewithal required to move with speed and agility, focused initially in the U.S. and extending into priority international regions. We are resourcing our efforts to ensure that we have the best strategies, tactics, operational capabilities, and people to bring Diracxon Rastib with urgency to patients pending regulatory approvals. We expect to be launched ready under best-case approval timing scenarios. We have experienced and talented executives leading our commercialization team across medical affairs, market access, marketing, and sales. These groups are deeply engaged in market preparedness and assessment, planning, physician and advocacy engagement, sharpening operational capabilities, and conducting other launch readiness activities. We recently appointed several experienced leaders across the Asia-Pacific and European regions, including Neil McGregor as our general manager for AIPAC, Ketsuo Endo as general manager for Japan, and Martin Volkl as general manager for Germany. I'd now like to turn the call over to Jack Anders, our chief financial officer, to summarize our first quarter financial results. Jack?

Thanks, Mark. We ended the first quarter of 2026 with $1.9 billion in cash and investments and further strengthened our financial position after the quarter with $2.1 billion in net proceeds from our concurrent upsized offerings of common stock and convertible debt in April. Before we dive into the income statement for the quarter, I'd like to highlight that our stock-based compensation expense for the quarter was higher than usual and explain the reason behind it. Stock-based compensation expense was $87.3 million for the quarter ended March 31, 2026, compared to $25.1 million for the quarter ended March 31, 2025. In the first quarter of 2026, the company updated its equity compensation program to introduce competitive retirement benefits for employees who meet specific minimum age and service requirements. The modification of this program resulted in an incremental $44.6 million in stock-based compensation for the first quarter of 2026. This incremental expense was primarily due to the accelerated timing of recognition of stock-based compensation expense originally scheduled in future periods for outstanding eligible awards. As a result of this timing pull-in, we expect higher non-recurring lumpiness in stock-based compensation expense for the first half of 2026, with stock-based compensation expense decreasing and returning to a more normalized trajectory in the second half of the year. As a result of this change, the company is increasing its estimate of full-year 2026 stock-based compensation expense by approximately $80 million, and now expects full-year 2026 stock-based compensation expense to be between $260 million and $280 million. Additionally, the company is also updating its projected GAAP operating expense guidance to reflect this expected increase in stock-based compensation expense, and now expects full-year GAAP operating expenses to be between $1.7 billion and $1.8 billion. Moving to expenses for the quarter, R&D expenses for the first quarter of 2026 were $344.0 million compared to $205.7 million for the first quarter of 2025. This increase was primarily due to higher clinical trial and manufacturing expenses for diraxon racib and zoldan racib due to acceleration of the pace and expansion of these programs. R&D expenses were also higher as a result of increased headcount costs and higher stock-based compensation expense, as described earlier. G&A expenses for the first quarter of 2026 were $101.3 million, compared to $35.0 million for the first quarter of 2025. The increase in G&A expenses was primarily due to higher stock-based compensation expense, as described earlier, increased headcount costs, increased commercial preparation activities, and higher administrative costs. Net loss for the first quarter of 2026 was $453.8 million compared to $213.4 million for the first quarter of 2025. The increase in net loss was due to higher operating expenses. That concludes the financial update. I'll now turn the call back over to Mark. Thank you, Jack.

The remarkable start to 2026 is the result of years of unwavering dedication, relentless perseverance, and hard work by our team and collaborators standing on the shoulders of others. With the unprecedented performance of Draxon Rastid monotherapy in the Resolute 302 study, we believe we are in the position to change the standard of care for patients living with pancreatic cancer subject to regulatory review and approval. The global response to the Resolute 302 data has been overwhelming. The news brings with it hope and possibility for patients, physicians, and the advocacy community that have all been waiting too long for new, more effective treatment options. We are now an important step closer to fulfilling our mission of discovering, developing, and delivering innovative, targeted medicines to patients living with cancer. We have an extraordinary opportunity, and we take very seriously the responsibility that goes with it. Before I close, I'd like to recognize our continuing partnerships with patients and caregivers, healthcare providers, and investors, as well as the remarkable dedication and efforts of RevMed employees. It requires the ongoing support of all of our partners and constituencies to do revolutionary work on behalf of patients. With that, I'll turn the call over to the operator for the question and answer portion of the call.

Thank you. At this time, we will conduct a question and answer session. As a reminder, to ask a question, you will need to press star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. We do ask that each person limit their question to one question and one follow-up. Our first question comes from the line of Corey Kazmoff with Evercore ISI. Corey, go ahead with your question.

Great. Good afternoon, guys. Thanks for taking the question, and congrats on all the recent very exciting progress. So I wanted to ask, you recently noted you could share data at a medical meeting that supports the rationale for Resolute 309, the Phase III frontline PDAC trial looking at Zoldan RASIB plus Draxon RASIB versus chemo.

Would this include durability data or just response rate, as we've seen with some of your initial disclosures?

And maybe more importantly, how much additive efficacy would you be looking for here to say it's clinically meaningful to justify the combination over the, you know, the exciting monotherapy results we've seen with both of these agents? Thanks, Corey. Appreciate your comments and question. it's probably too early for us to lay out what that presentation would look like. We typically don't forecast it. You know, we'll show what we have. We think it will provide that in due course. The second question also probably can't be too helpful about what's the, you know, what's the threshold for doing that. I mean, of course, we look at the totality of the evidence. We look at the historical benchmarks, and ultimately, as you sort of implied in your question, durability is, you know, the most important parameter. Got it. Thank you.

Our next question comes from Charles Zhu with LiveSci Capital. Charles, go ahead with your question.

Thank you for taking my questions, and congrats on everything. I got a call kind of at the opposite end of the spectrum. One, how many patients do you think you can accommodate on your expanded access program for the RACs on RACs? What are the potential implications as you start thinking about potentially converting?

Hey, Charles. Charles, we're not able to pick up what you're saying.

Stacey, I don't know if there's anything you can do on your side to improve the auto quality.

Charles, are you in a good position to speak with us?

Why don't we move on to the next call and come back to Charles? We'll get Charles back queued up. Our next call comes from Michael Schmidt with Guggenheim Securities. Michael, go ahead with your question.

Yeah, hey guys. Thanks for taking my questions and again, congrats on Resolid 302 data. Looking forward to the full data presentation at ASCO. Yeah, a question on the EAP program. I know this was just announced a few days ago, but Mark, I don't know if you could comment what you're seeing so far in terms of demand for the EAP program, and what do you think how many patients could potentially benefit from this prior to officially receiving FDA approval? And then maybe just if you could share your view of the size of the second-line pancreatic cancer opportunity. Based on your market research, how many patients in the U.S. do you think would be treatment-eligible for the Raxanratib based on a 302 study? Thanks so much.

Thanks, Michael. Nice to hear from you. You know, on the first question, of course, we're working hard to get in a position to be providing drug to those who need it. The demand has been very clear from the moment that it was announced, and we don't expect that to slow down any time soon, and, you know, we're putting all the resources that we can on it to help meet that need. I can't really give you a projection as to the number. I don't know how we can make that projection to play it out. I think there is clearly widespread within, you know, minutes after. Size of the second line opportunity. Wayne might want to talk about this. We can't characterize it for you at great depth, but, you know, we typically think about roughly 60,000 new cases in each year, and then maybe Wade can comment on both what's historical attrition and then also whether or not Daraxone RACID might affect that.

Yeah, happy to do that. These are obviously just estimates based on clinical practice. As Mark commented, about 60,000 Americans are newly diagnosed each year with pancreatic cancer.

About 80% of those patients are diagnosed with metastatic disease. And so those patients are typically because of both the aggressive nature of disease and chemotherapy.

You know, and just to add to that, you know, that could certainly change in the context of first-line treatment, but we don't have anything to address on that point today.

Our next question comes from Faisal Kashid with Jeffries. Faisal, go ahead with your question.

Hey, guys. Thank you so much for taking the question. I just wanted to ask on the RASOL 301 upsizing, could you clarify what exactly led to the upsizing, what were you powered for before, and what are you powered for now? And does this change the timeline from enrollment completion to readout?

And then Alec Sandler is going to talk about the first. We don't think it will change the timing projection.

Sure, thanks. So an important point is we realize the importance of overall survival. And given the results that we've seen in 302, and also the Phase I monotherapy data, we have a very high conviction on our ability to obtain overall survival benefit. So as a result of that, we're going to further prioritize overall survival in 301 by expanding the enrollment, as you've noted, going from 420 to 590 patients. And that will increase the statistical power of that component of what is a dual primary endpoint. And then, again, as Mark has mentioned, there's a great pace in terms of the patient enrollment, and we think that we will substantially complete the enrollment even with the expanded study this year.

Got it.

Thank you.

Our next question comes from the line of Brian Chang with J.P. Morgan. Brian, go ahead with your question.

Hey, guys. Thanks for taking our questions this afternoon. Mark, during the call, you said the best-case timing scenario for DERAC's launch across the globe. How should we think about the timing and the cadence, then, for the filing and launches, specifically across APAC and European regions? And just on the NDA application towards the FDA, can you give us a little bit more color, a little bit more granularity, in terms of the things that are left to complete? Thank you.

Yeah, thanks, Brian. I can't really give you any specific timing, but just generally speaking, we are—there will be some sequential framework countries, and we're already engaged with—can deliver what they need in as timely a manner as possible. For the NDA, your question was, what's left to deliver? Is that how you put it?

Yeah, what are the things that are left to complete before you complete the NDA application?

Yeah, well, we've been fully engaged with the FDA for a long time, as you know. And, of course, with the CNPB and the breakthrough designation, we've had a higher level of engagement than you might otherwise have. And so we are providing them information is the thing that will be provided. I can't give you a specific timing on that. There's, you know, a full throttle effort to do it. we feel the urgency around it. Certainly the question earlier about the EAP on signal about how urgent that is, and we'll continue to move as we possibly can.

Great. Thanks, Mark.

Our next question comes from Mark Fram with TD Cohen. Mark, go ahead with your question.

Thanks for taking my questions. Maybe following up a little bit on Corey's question earlier, just on the Zoldan RASA plus Drax and RASA combo, can you maybe speak to the 309 design, particularly in light of the 302 finding and, you know, the survival data, I mean, looking better than anything we've ever seen, even in first line, just why is 309 comparing to chemo still the right design and, or would it, should it really be switched over to, to consider Draxen-Rasen monotherapy as the comparator arm there at a minimum, you know, one to get the contribution of parts, but also just from a clinical execution perspective of, you know, where the ball is headed, it seems to be headed in pancreatic cancer?

Yeah, thanks, Mark. That's a good question. You know, it's a subtle one. You know, of course, today, standard of care is chemotherapy. And until that's, well, there's a data set of a new standard of care, then chemotherapy is the standard of care. You know, I think you're sort of inviting me to comment that, of course, we think directs on Rastiv has a real potential in monotherapy, but also in combinations in first line. And among those combinations, chemotherapy is one that we've already provided some, and that combination is in the 303 trial. So we're already going into combinations, and it's really just a question of when that bar moves, the combination can deliver something that is differentiated from chemotherapy, but also even from monotherapy. I think the other thing to keep in mind is we do a lot of things where there's overlap in the patient populations that we might be able to serve in different ways because every patient has his or her own specific needs and giving doctors options, even if the outcomes on paper may look fairly, there still may be reasons why one particular patient would do a combination or monotherapy approach versus another. So providing the most fulsome set that we can based on the science and then ultimately on the clinical data increases. So that's the highlight.

Stand by for our next question. Our next question comes from Jonathan Chang with Lear Inc Partners. Jonathan, go ahead with your question.

Hi, guys. Thanks for taking my questions and congrats on the progress. Can you talk about your latest thinking on getting to a chemo-free option in frontline pancreatic cancer? What gives you confidence in being able to achieve this? And what do you think is the best strategy for using this.

Yeah, thanks, Jonathan. Nice to talk with you. Well, we just talked about one of those three frontline, which is model therapy. I think the data are compelling enough that it just very much justified incorporating that into the famo-free regimen. Combining a mutant selective inhibitor with diraxone RASiv, that would be a chemo-free strategy. And that specific combination of Zoldan Plus is for the 40 cases that are carrying a RAS-G12D mutation. We have other immune selective inhibitors directed against additional mutations that are common in or can be found in RAS cancer. So we could and would likely fill out that collection of regimens. It just happens that it's old on RAS and plus raxon is on the vanguard to work because of the maturity of the compound and the data that we have so far. So I think those are two very compelling chemo-free regimens. There are others that one can consider. There are immunologic agents that can be combined. There are other targeted agents that could be combined. We're already exploring, as you know, PRMT-5 combination, PRMT-5 inhibitor combination, et cetera. I'm sure there will be other things to come over time.

Our next question comes from Charles Zhu with LifeSci Capital. Charles, go ahead with your question.

Thanks for giving me another stab at this. Can you hear me now?

Yes.

All righty. I believe a bunch of clinical-type questions were taken, so I'll ask one a little bit earlier. But RM055, nice to see your presentation at AACR, as well as some of the work you helped support over at Piro Lelito's lab that was just published yesterday. But can you comment a little bit, perhaps, on RM055's ability to potentially address daraxon and erasive resistance mechanisms that go beyond that of a KRAS amplification? And can you also talk a little bit about perhaps how you might be achieving what appears to be, at least preclinically, a wider therapeutic window for RAS mutants over RAS wild types over that, which Diracxon RASIB can achieve? Any color as to how you're accomplishing that mechanistically, and if you can also kind of see that in your preclinical models as you advance that into the clinic.

Thanks, Charles. Those were loud and clear. Yeah, Steve Kelsey.

Yeah, I think the RAS amplification can be perceived as a standalone mechanistic basis for escaping drugs on RASID, but it also acts as a surrogate for increasing flux through the RAS pathway generally. In most of the experiments that we've done, RM055 is a better inhibitor of flux through increase, particularly when it's going down through a G12 mutation. So I think there is a general principle of escape from viraxone RACID occurring through reactivation of RAS pathway signaling. It's not just amplification of the mutant allele that can do that, and I think there's every reason to believe that RMO5 may be effective beyond just pure RAS mutant amplification. Your point about therapeutic index, it's all to do with the relative importance of hydrolysis of RAS on back to RAS off between cancer and normal tissue. Normal tissue, most of the RAS in normal tissue was already in the off state anyway, but it's being catalyzed back, that the active RAS is being catalysed back to RAS off by, very effectively by the naturally occurring GAPs. And the whole point of RAS mutation cancer is that that just doesn't happen. The ability of the mutant RAS to withstand that catalytic hydrolysis back state is very different, and it varies from mutation to mutation, but what we've done is very selectively targeted the inability of particularly, as I said, G12 mutant rats often. It really has very, this drug has almost negligible effect on normal tissue in that respect, and a very significant mutant rat.

Got it. Thanks for taking the questions, and congrats again on everything.

Our next question comes from the line of Michael Yee with UBS. Michael, go ahead with your question.

Great. Thanks, guys. Congrats on the progress. Two quick ones. On the colorectal cancer data coming up, can you help guide expectations on how to think about combination with EGFR given overlapping rash and how to think about mitigation or how to interpret results given higher efficacy, but also trying to mitigate rash in that strategy. And then also in the first line PANK study, which is enrolling, we definitely get huge feedback that it's going to enroll super fast at a number of different sites. Is it safe to assume that there's probably an interim in that study as well, eventually, once you complete enrollment? Thanks.

Thanks, Michael.

Nice to hear from you.

I mean, maybe I'll just make the comment that it is true that the rash on rash itself has essentially overlapped with the EGFR antagonist from the perspective of suppression of RAS signaling that drives the skin side effects. So, that is a harder combination to contemplate. That really doesn't apply at all with the mutants. You know, launch the field, essentially, so to RAS and adagrassive, and now others, can be combined pretty readily, and it really fundamentally, it's an EGFR coverage that occurs in the RAS mutant tumors, and the whole reason why EGFR receptor antagonism is contraindicated, that combination is, in principle, something that can be pursued. Stay tuned. We'll talk about it when we're able to do so. The question about the first line, I forgot the tail end of the actual question part of it. It was to have an interim anyone else way you want to comment on that? I just heard it from our chief medical officer.

Thank you.

Our next question comes from Laura Pendergast with Stiefel. Laura, go ahead with your question.

Hey, guys. Thanks for the update. I was curious, you know, what are some of the top variables still under consideration for diraxone RASIB in first-line lung cancer as far as strategy goes? And then on the back of Resolute 302, showing such an unprecedented OS, what kind of pricing power are you guys thinking this could unlock, and are there any benchmarks for pricing that you guys are most focused on?

Yeah. Hi, Laura. Nice to hear from you. I don't think we can really comment on the pricing. Of course, the OS impact is something everybody's interested in, starting with patients. And then your question on first line, which was what? What are the variables we're thinking through? Oh, I see. With regard to Drax and Raspin, first line. Well, we've alluded to it. You know, we commented that things going on, probably one of the most important is that we're now dosing patients with Ivanesimab, which may become, you know, we're all waiting to see how that progresses, but it points towards, you know, potentially becoming the new standard of care for frontline non-small cell lung cancer, in which case that's something we need to take into account, which we hadn't really taken into account before we had the real relationship with Summit that's now, you know, very much probably the main variable. I think the other thing just conceptually to comment on is the mutant selective inhibitors are already pretty well established simply because of the G12C inhibitors that launch the field. And that's sort of a pair of cancer doctors are now used to thinking that G12C is its own disease, which means G12D will be its own disease and G12B will be its own. We happen to have a G12D selective inhibitor, which is performing particularly well. We happen to have a G12C selective inhibitiated and compelling. We have a G12 reselective inhibitor that's in the clinic now, and we expect good things from that. So there are multiple ways to cover that, and in a field in which it's already broken down by a genotype, that's one possible strategy. So those are kind of several of the major considerations.

Understood. Thank you very much.

Our next question comes from Jay Olson with Oppenheimer. Jay, go ahead with your question.

Hey, congrats on all the progress, and thanks for providing this update.

How would you like to set expectations for the upcoming ASCO plenary presentation in terms of where you'd like investors to focus their attention?

Thank you.

I think my main expectation is it's going to be crowded. The update will be in the field needs to see.

Our next question comes from Kelsey Goodwin with Piper Sandler. Kelsey, go ahead with your question.

Hey, thanks so much for taking my question. Congrats on all the progress recently. I think two quick ones for me. First, I guess any additional color that you're providing on the sales force? And then secondly, I think building on one of your prior answers in this question and answer session, I guess as we start to think about that front line to second line attrition rate once Daraxon RACIP comes onto the market, I guess, do you have a sense what percent of that 50% of patients that don't proceed to second line are unfit for therapy altogether versus, you know, ineligible or unwilling to take another chemotherapy just as we, you know, start to model that out a bit more refined. Thanks so much.

Yeah, thanks. Thanks, Kelsey. Anthony, you want to just comment on that?

Yeah, so thanks for the question, Kelsey. I think for the U.S. region, we're in the final stages of building out our field-based teams all across different functions in the field, meta-fairs, market access, and sales. We've had an MSL team and a thought leader liaison team in place for quite some time. We also have a market access account team that's been in place that's been engaging with payers and organized customers, you know, really around the unmet need in pancreas cancer, around the pipeline and the early clinical data for Draxon Rassiv through pre-approval information exchanges, and we're really pleased to say that we're in the final stages of onboarding our U.S. sales force. We're pleased with the team. They have deep expertise in solid tumors across GI malignancies and in oral oncology, and they'll be fully trained and ready to go with HCP engagements if we were to receive an FDA approval.

Thanks, Anthony. And on the first line, the second line, it's a good question. It's an important question. It's a little bit hard to get a detailed and clear understanding of because in reviewing records and so on, it's not always clear. In fact, it's surprisingly how common it is that it's not clear why somebody hasn't gone on to second line, an obvious performance status issue, and therefore they might have decided not to proceed because of intolerability, or they might have decided not to proceed because of perceived intolerability before they tried it, or because of a wide variety of reasons. And then, you know, devastating illness, as everybody knows. So there are a lot of different reasons. Some of those could be addressed by a regimen that is more convenient, that is a once-a-day pill that really is generally well-tolerated and safety issues are manageable. We don't go to the finish line with an approval in that context.

Perfect. Thank you so much.

Our next question comes from Kalpit Patel of Wolf Research. Kalpit, go ahead with your question.

Yeah. Hey, thanks for taking your questions and congrats on the trial. So, for ResMOO 303, how should we think about that study's enrollment ramp versus the second-line study that you just completed in terms of timing of enrollment completion? And then can you remind us that crossover is allowed in that Resolute 303 study. And separately, any comments on potentially starting a registrational trial with Derexon and a PRMD-5 inhibitor? Thank you.

Thanks very much for your questions. The timing of completion, we can't comment on that now. We're just not at a stage, but maybe the even more important point would be we know there's very very high interest in this are yet to be online and there there are patients you know lined up as many of these we expect there to be very high demand for this for a variety of reasons not the least of which is the disclosure of the 302 you know key findings which which is students never do it crossover crossover is not allowed in the trial design as you know So, of course, it's up to any individual patient. They can cross over on their own if there is an approved therapy to cross over to. But in terms of actual crossover design, we can't really provide it when OS is the standard. And that's the sort of conundrum of a Phase III trial for which overall survival is the end point. And, you know, we're currently kind of in the process of transitioning from equipoise to out of equipoise, and where we stand in that is a matter of judgment, and it's really a question for the regulatory agency. They have to make that determination, and as long as OS is required, it's very difficult to achieve that with a crossover design.

The only additional comment I would make, again, because of the concern for overall survival being a primary endpoint, is we've established a broad geographic footprint in order to mitigate the potential for impact of second-line therapy with Drexin moving forward, so smaller U.S. footprint, larger ex-U.S. moving forward.

Right. Good comment. And then the last thing was any update with several companies now who are evaluating PRMT5 inhibitors in combination with RAS inhibitors, and we're deeply interested in it.

Thank you. Our final question comes from the line of Alec Stranahan with Bank of America. Alec, go ahead with your question.

Hey, guys. Thanks for taking my questions and for squeezing me in here at the end. I guess two from me. First, we'd be interested to hear from your experience whether the initial ORR with Draxon RACID was a good metric for predicting PFS and OS benefit in larger studies. Like, does the higher numerical ORR translate to better survival, or is duration of response or time on therapy maybe more telling for this? Just trying to think through some headline numbers we're seeing from others in the space. And quickly, will you be allowing third-line-plus patients into the EAP as well? Thank you.

Thanks, Alex. On the last question, yes, the comment on that.

Well, we've done some analysis.

It's not such a tight stoichiometric relationship that you can actually say that if the ORR is 5% in points higher, that the PFS is going to be 5% in points higher. But it does broadly correlate. There are better ways of predicting, which involve multi-parametric analyses that include broadly, and that's to know that, and not with our competitors. But definitely ORRs, I think we're learning more, and you're right. You know, I mean, we're learning a lot more now, now that we have decent drugs for pancreatic cancer, we're learning a lot more about the relationship between all of these outcomes. But, I mean, in other diseases like lung cancer, breast cancer, and hyaluronic cancer, it took years and years and years to figure out these relationships, and they're still not. I think that you will see relationships emerging, whether they're causal or otherwise, but I wouldn't do with that and how you should interpret ORR data and have vision for what that's going to translate into. Of course, with Grasinit, the numerical value of OR at any point in time isn't very, can take up to and sometimes beyond six months for racist response. At any given point in time, there may still be people who might, who have not yet become. And the racist definition of response isn't a particularly robust endpoint in its own life. So, you know, there's a lot of wiggle room and uncertainty around all of these analyses. It's very tempting to believe that the overall response rate determined by RASIST is a pure and absolute measurement, but it absolutely, I can tell you, you look at those CT scans and try to compute the unidimensional measurements of the target lesions, then you'll realize Very good.

This does conclude the question and answer session. I'd now like to turn it back to Mark Goldsmith for closing remarks.

Thank you, operator, and thank you, everyone, for participating today and for your continued support of Revolution Medicine.

Thank you for your participation in today's conference. This does conclude the program. You may now disconnect.