Shares of Revolution Medicines (NASDAQ:RVMD) shot up 21% in afternoon trading Friday after the company presented encouraging Phase 1 data for its oncology drug candidates RMC-6291 and RMC-6236.
Revolution said in a statement that the data was presented at the AACR-NCI-EORTC medical meeting in Boston, which is being held Oct. 11-15. Both drug candidates belong to a class of drugs known as RAS-ON inhibitors.
The company said data showed RMC-6236 was well tolerated by patients and showed “preliminary evidence anti-tumor activity across multiple RAS mutations.”
It added that data for RMC-6291 also showed “encouraging initial tolerability, safety and differentiated anti-tumor activity.”
Revolution said it intends to hold an investor webcast on Sunday to discuss the data further.