Nov. 3 at 11:43 AM
RBC Capital🏁
$RVMD Outperform/
$77
$IMRX $BBOT $BBY $AMGN ERAS
RBC Capital said in its initiation report:
We believe RVMD is best positioned to execute on targeting RAS across oncology, given their impressive efficacy data, development lead, and focused pipeline.
We think with a ph.Ill readout in 2026 highly likely to hit, a regulatory path significantly derisked by the recent CNPV, and a commercial opportunity of >
$7B based on our checks with upwards of 50% intent to prescribe, we think shares are undervaluing the enthusiasm for daraxonrasib.
While a certain amount of success is already priced in, and 1st gen KRAS inhibitor launches have been slow, we think RVMD's approach is likely to succeed and differentiate, and we would be buyers.
