Davis Polk advised the underwriters in connection with an initial public offering of 16,100,000 shares of common stock of Revolution Medicines, Inc. at $17.00 per share (which includes the exercise in full by the underwriters of their option to purchase up to 2,100,000 additional shares), for total gross proceeds of $273.7 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “RVMD.”
Based in Redwood City, California, Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, high-value frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Beth LeBow and Daniel Reichert. The intellectual property and technology team included partner David R. Bauer and associate Jay Frankel. The tax team included partner Rachel D. Kleinberg and associate Adam R. Brownstone. Counsel Marcie A. Goldstein provided FINRA advice. Associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.