May. 8 at 7:14 PM
BofA⬆️the PT on
$RVMD to
$78 /reit'd Buy-Top Pick.
BofA said in its note:
"RevMed's 1Q25 results focused on a slew of combination therapy updates while the development of pivotal programs remains on track (see below for pivotal program timelines).
Overall, the data from combination options continue to support what we see as class-leading potential in the RAS(ON) platform across multiple indications on the back of impressive responses and tolerable safety generally in early readouts (see our take on daraxonrasib data in PDAC here, in NSCLC here, and recent zoldonrasib data at AACR).
We continue to see RevMed as one of our top picks for the year (see our top picks report) with a cash fortress of
$2.1B sufficient to support the development of multiple pivotal trials for monotherapy and combination options. We reiterate our Buy recommendation and
$78 PO (from
$76) as we update our model to reflect slightly higher probability of success and peak market share for mutant-selective programs."
