RVMD - Revolution Medicines to regain rights to cancer candidate from Sanofi

• 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.

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