Revolution Medicines Just Hit a Major Milestone. Is the Stock a Buy?
Revolution Medicines (NASDAQ:RVMD) has been on a tear over the past year, with the company's shares climbing by 340%, as of writing. As is often the case with clinical-stage biotechs, the company's run has been driven by impressive clinical progress. And the good news is that Revolution Medicines recently earned approval for its first product. What does this new milestone mean for investors? Is the stock still a buy after its amazing run over the past 12 months? Let's try to answer those questions. Image source: Getty Images. The oncology market is intensely competitive and typically dominated by the largest and most prominent pharmaceutical companies . It's not easy for smaller drugmakers to make waves in this area. But Revolution Medicines has managed to do so. The company recently earned approval for RASONQUE, an oral tablet for the treatment of certain patients with pancreatic adenocarcinoma, the most common form of pancreatic cancer. But why is this approval considered a breakthrough? Here is the reason. Revolution Medicines is targeting RAS-addicted cancers. Continue reading