Thread by @Biotech2k1

Profiling $RVMD:

I got into this company early this year. I love the pathways they are targeting, but they have little data or success yet to show they have great science yet.

1/ Their management is still new to me as they haven't had much data yet. Their first program was for SHP2 which had lack luster data. At least they were wise enough to partner that away for some cash. They are highly focused on the internal cell growth pathways.

2/ These are the MAPK and mTOR pathways. These are some of the hottest pathways in all oncology. The problem is the closer to the receptor you go for the pathways, the broader the suppression and the higher the toxicity.

3/ Just like with PI3K which is at the top of the mTOR pathway, SHP2 was just as toxic sitting at the top of the MAPK pathway. The big money for $RVMD will be around its many programs focused on RAS and KRAS. They have a multi RAS, KRAS G12C, KRAS G13C and KRAS G12D programs.

4/ These are competing programs and should be treated as shots on goal. If multi RAS works, it could be huge and soak up most of the KRAS programs. If it fails, they still have the specific KRAS programs to fall back on.

5/ This is a very big space with $3 to $5 billion in total potential, but they have no data yet. They are planning a big preclinical data read out for multi RAS at AACR next weekend. That could be a big mover for the stock.

6/ I have to admit. I am a bit cautious of a multi RAS target. They also have several other early stage programs around SOS1 which is near the top of the MAPK pathway and 4EBP1 which is at the end of the mTOR pathway.

7/ $RVMD has no real success yet, but they are in all the right places where success could make them the next $MRTX with a single strong data readout. Its going to come down to the data.