Revolution Medicines reported Phase 3 results for daraxonrasib (RMC-6236), a RAS-targeting inhibitor in metastatic pancreatic ductal adenocarcinoma, showing longer progression-free survival and overall survival versus standard chemotherapy in RAS-variant groups. The company reported a median overall survival of 13.2 months on daraxonrasib compared with 6.7 months on chemotherapy, with a generally manageable safety profile. In a near-term follow-on to the clinical readout, the company also priced a $1.5 billion follow-on stock offering and issued convertible senior notes, part of what is described as the largest follow-on in biopharma history. The financing arrived just days after investors reacted to the top-line Phase 3 data. The pairing of survival data with rapid access to public capital highlights how quickly oncology winners can reprice risk perception and move into commercialization and additional development with less dilution.