Revolution Medicines to regain rights to cancer candidate from Sanofi

Mohammed Haneefa Nizamudeen

• Sanofi (NASDAQ:SNY) has terminated a development and collaboration agreement with Revolution Medicines (NASDAQ:RVMD) for SHP inhibitor drugs.
• As a result, Revolution Medicines (RVMD) will regain rights to RMC-4630, a SHP2 inhibitor drug candidate for RAS-addicted cancers.
• The decision is a setback for Revolution (RVMD), as it could have received up to $500M as part of the collaboration.
• The company said it will continue a phase 2 trial of RMC-4630 in combination with Amgen's (AMGN) Lumakras (sotorasib) in non-small cell lung cancer. Top-line data is expected in 2H 2023.
• Read why Seeking Alpha contributor Hummingbird Insights just rated Revolution (RVMD) a buy.