Revolution Medicines Won FDA Approval One Month After Filing. Analysts See $11.5 Billion in Peak Sales. Is the Stock Still a Buy After Skyrocketing More Than 5X?
The biotech's Rasonque is already available for prescription.
Overview
Well, that sure was quick.
Within weeks of submitting its promising daraxonrasib to the Food and Drug Administration (FDA), Revolution Medicines (NASDAQ:RVMD) won full approval from the American regulator on Wednesday. That's lightning-quick for getting a green light in this country, and it brought significant attention to the company. It also, unsurprisingly, gave the biotech a meaty share price pop. Daraxonrasib, which has been brand-named Rasonque, is undoubtedly a high-potential drug. But has it propelled the company's stock into overvalued territory?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- How Bank of America and three other lenders could win big from Scott Bessent’s and Kevin Warsh’s bond-market mechanations
- PayPal’s stock sinks as suitors reportedly walk away from their takeover bid
- 2 Premier Artificial Intelligence (AI) Stocks That Can Plunge Up to 63%, According to Select Wall Street Analysts
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.