Shares of Revolution Medicines RVMD rose nearly 29% on Wednesday following a report issued by the Wall Street Journal (WSJ), as cited in a Yahoo Finance article, which stated that pharma giant AbbVie ABBV was interested in acquiring the company.
However, AbbVie denied this speculation in an emailed statement to Reuters, stating that it "is not in discussions with Revolution Medicines."
While the article claimed that WSJ could not learn the exact terms of the deal, it did state that AbbVie was nearing a deal that could value Revolution Medicines at around $20 billion or more.
California-based Revolution Medicines is a clinical-stage company developing multiple novel drugs that target the active, GTP-bound form (or ON form) of RAS proteins, which the company refers to as RAS(ON). Its lead pipeline drug is daraxonrasib, an investigational oral RAS(ON) multi-selective inhibitor designed to target all three major RAS mutation hotspot positions (G12, G13 and Q61). The drug is being evaluated in separate late-stage studies for pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC)
RVMD is also developing mutant-selective inhibitors like elironrasib and zoldonrasib that are designed to suppress the growth of specific RAS-bearing cancer cells. Both drugs are being evaluated either as monotherapy or in combination with other anti-cancer therapies in separate early-stage studies across solid tumor indications.
RVMD Stock Price Performance
Post the release of the WSJ article, shares of Revolution Medicines hit an all-time high of $105 per share. In fact, shares of the company’s peers, like Erasca and Verastem Oncology, which are also developing RAS inhibitors, surged 42% and 11%, respectively, on Wednesday.
In the past year, RVMD’s stock has soared 131% compared with the industry’s 17% growth.
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Recent M&A Transactions in the Pharma Space
After a muted start to 2025, Big Pharma has returned to the mergers and acquisitions (M&A) arena in recent months. This rebound has been supported by major drugmakers signing drug pricing agreements with the Trump administration, which eased concerns over potential tariff-related impacts and removed a key policy overhang.
Although it has just been a week since the start of 2026, Big Pharma continues to pursue strategic assets in key growth areas.Earlier this week, large-cap pharma companies Amgen AMGN and Eli Lilly LLY announced separate acquisition deals.
Amgen announced it has acquired U.K.-based private biotech company Dark Blue Therapeutics for approximately $840 million. This acquisition aims to strengthen Amgen’s oncology pipeline by adding Dark Blue’s preclinical, targeted small-molecule degrader, which degrades two proteins (MLLT1/3) that drive specific types of acute myeloid leukemia (AML). These differentiated molecules have shown promising anti-cancer activity in pre-clinical studies and are designed to treat certain types of AML.
In parallel, Eli Lilly recently signed a deal to buy clinical-stage biotech Ventyx Biosciences for a total value of about $1.2 billion. Once this acquisition is completed, Lilly intends to add Ventyx's clinical pipeline of small molecule oral therapies that are designed to treat inflammation across a broad range of diseases, including cardiometabolic disorders, neurodegenerative diseases and inflammatory disorders.
Revolution Medicines, Inc. Price
Revolution Medicines, Inc. price | Revolution Medicines, Inc. Quote
RVMD’s Zacks Rank
Revolution Medicines currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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