Revolution Medicines Getting Ready for R(ASCO)! What to Expect and the Ultimate RAS Cheat Sheet

Research evidence excerpt

Revolution Medicines Getting Ready for R(ASCO)! What to Expect and the Ultimate RAS Cheat Sheet

J P M O R G A N North America Equity Research

18 May 2026

Revolution Medicines Overweight

RVMD, RVMD US

Getting Ready for R(ASCO)! What to Expect and the Price (15 May 26):$145.66

Ultimate RAS Cheat Sheet

SMid Biotechnology

Brian Cheng AC

(1-212) 622-0449

brian.cheng@jpmorgan.com

Ron Feiner, PhD, CFA

(1-212) 622-5005

ron.feiner@jpmorgan.com

Our updated RAS Cheat Sheet (made in collaboration with the broader Sarah Medeiros, PhD

biotech team – Anupam Rama) summarizing all RAS-related comp data (1-212) 622-3957

you need can be found here. sarah.k.medeiros@jpmorgan.com

J.P. Morgan Securities LLC

Heading into RASolute 302’s presentation at the plenary session at ASCO in

about two weeks, we take a more comprehensive look at the RAS space as a

follow-up piece to our cheat sheet we published late last year.

Here, we have put together the ultimate data collection on the RAS inhibitor space

across indications, lines of therapy, and target mutations. Fast-followers are

entering the space, but despite that, we see RVMD’s lead and data, specifically in

PDAC and pan-RAS, as well as having the broadest late-stage mutKRAS portfolio,

as a meaningful moat, securing its spot in becoming a staple in RAS-driven cancer

treatment. In the mutant-specific space, there are now multiple G12D Ph 3 trials

ongoing or planned; in G12C there are already multiple approved first-generation

products, and finally, the G12V space is in early stages, and here too RVMD has

a lead. Importantly, outside of RVMD, no other player has assets targeting all

mutations and a pan-RAS allowing it to tackle multiple lines of treatment with

different combo strategies. RVMD is our top pick for 2026. RVMD is on the