Revolution Medicines Announces Pricing for $230.0 Million Common Stock Public Offering

REDWOOD CITY, Calif., July 19, 2022 (GLOBE NEWSWIRE) — Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-dependent cancers, today announced the price of its underwritten public offering of 11,500,000 common shares at a public offering price of $20.00 per share, before discounts and commissions. All common shares are offered by Revolution Medicines. In addition, Revolution Medicines has granted underwriters a 30-day option to purchase up to an additional 1,725,000 shares of common stock at the public offering price, less underwriting discounts and commissions. Gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected to be $230.0 million, excluding any exercise of the option of the underwriters to purchase additional shares. The offering is expected to close on July 22, 2022, subject to customary closing conditions.

JP Morgan, Cowen and Guggenheim Securities are acting as joint bookrunners for the proposed offering.

A shelf registration statement relating to these securities was filed with the United States Securities and Exchange Commission on March 2, 2021 and is automatically effective upon filing. This offering is made solely by means of a prospectus. A copy of the final prospectus supplement and accompanying prospectus relating to this offering, when available, may be obtained by contacting: JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by phone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by phone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; or Guggenheim Securities, LLC, Attn: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by phone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Revolution Medicines, Inc.

Revolution Medicines is a clinical-stage precision oncology company developing novel targeted therapies for RAS cancers. The Company’s R&D pipeline includes RAS(ON) inhibitors designed to suppress various oncogenic variants of RAS proteins, and companion RAS inhibitors for use in combination treatment strategies.

Forward-looking statements

To the extent that the statements in this press release are not descriptions of historical facts about Revolution Medicines, they are forward-looking statements reflecting the current beliefs and expectations of management, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. , including statements regarding the expected completion and timing of the closing of the public offering. These forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties relating to market conditions and the satisfaction of closing conditions relating to the public offering. These forward-looking statements involve substantial risks and uncertainties relating to future events, and actual results could differ materially from those expressed or implied by the forward-looking statements. Revolution Medicines assumes no obligation to update or revise any forward-looking statements. For a more detailed description of the risks and uncertainties relating to Revolution Medicines’ business generally, see the prospectus supplement relating to the public offering and Revolution Medicines’ current and future reports filed with the SEC, including its report quarterly on Form 10-Q for the quarter ended March 31, 2022, filed with the SEC on May 9, 2022.


Contact David S. Arrington SVP Investor Relations & Corporate Affairs Revolution Medicines 650-542-6046 darrington@revmed.com

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