Recent News
April 13, 2026: multiple outlets reported Phase 3 data for the company’s daraxonrasib (RMC-6236) showing notably improved outcomes in pancreatic cancer compared with standard chemotherapy; April 19, 2026: the company announced plans to present updated Phase 1 clinical data for zoldonrasib at the 2026 AACR Annual Meeting; recent corporate releases also announced enrollment and first‑patient dosing for RMC-5127 in a G12V-selective trial.
Technical Analysis
Trend strength: ADX at 40.0 signals very strong directional strength; with DI+ at 41.15 decreasing and DI- showing a dip & reversal, directional indicators skew toward bearish pressure despite trend strength.
Momentum (MACD): MACD sits positive at 10.02 but shows a decreasing trend while remaining above its signal line at 9.44; the cross above the signal line represents a bullish signal, yet the falling MACD trend signals declining bullish momentum.
Momentum/Regression Oscillator (MRO): MRO reads 38.32 with a dip & reversal, implying the price sits above the model target and faces mean-reversion risk toward fair value.
Relative Strength (RSI): RSI at 60.07 with a peak & reversal indicates loss of upward momentum and increased vulnerability to a pullback.
Price vs. averages and bands: Last close $140.55 remains above the 12‑day EMA ($135.98, increasing), above the 20‑day average ($139.55) and well above the 50‑day ($109.98) and 200‑day ($75.30) averages; Bollinger bands compress with a 1x upper at $155.20 and lower at $123.89, implying limited near-term upside before volatility re-expands.
Fundamental Analysis
Profitability and income statement: Net income for the period equaled -$364,892,000; EBIT registered -$352,956,000 and EBITDA -$348,254,000. EPS actual arrived at -$1.86 versus an estimate of -$1.58, a negative surprise of -$0.28 or -17.72%.
Cash, liquidity and capital structure: Cash and short-term investments total $2,025,679,000 with cash alone at $383,745,000. Total current assets $2,075,037,000 against current liabilities $290,424,000 produce a current ratio of 7.14; the cash ratio reads 6.97, signaling ample near-term liquidity. Total debt equals $158,702,000, representing 6.74% debt-to-assets and roughly 9.73% debt-to-equity, keeping leverage low.
Cash flow: Operating cash flow measured -$370,423,000 while free cash flow reached -$276,163,000; free cash flow yield shows -1.535%. Free cash growth year-over-year runs +647.27% while sequential free cash growth contracted sharply QoQ, indicating lumpy cash dynamics tied to development spend and cash events.
R&D and investment profile: Research and development expense reached $294,943,000, sustaining the pipeline investment required for multiple ongoing trials and dose-expansion activities.
Returns and valuation multiples: Return on assets equals -15.84% and return on equity -22.37%. Price-to-book stands at 11.03, above the industry peer mean ($5.07) and median ($5.998) while remaining below the industry peer high ($19.43); price-to-book shows a QoQ change of -4.38% and a YoY increase of +105.82%. Trailing PE reads -49.10 and forward PE -40.42, reflecting negative earnings; PEG sits at -3.16. WMDST values the stock as over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-25 |
| NEXT REPORT DATE: | 2026-05-27 |
| CASH FLOW | Begin Period Cash Flow | $ 222.3 M |
| Operating Cash Flow | $ -370.42 M | |
| Capital Expenditures | $ -1.93 M | |
| Change In Working Capital | $ 32.2 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 166.3 M | |
| End Period Cash Flow | $ 388.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 4.6 M | |
| Depreciation and Amortization | $ 4.7 M | |
| Research and Development | $ 294.9 M | |
| Total Operating Expenses | $ 361.6 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -348.25 M | |
| EBIT | $ -352.96 M | |
| Operating Income | $ -361.63 M | |
| Interest Income | $ 21.3 M | |
| Interest Expense | $ 11.9 M | |
| Net Interest Income | $ 9.4 M | |
| Income Before Tax | $ -364.89 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -364.89 M | |
| Net Income From Continuing Operations | $ -364.89 M | |
| EARNINGS | ||
| EPS Estimate | $ -1.58 | |
| EPS Actual | $ -1.86 | |
| EPS Difference | $ -0.28 | |
| EPS Surprise | -17.722 % | |
| Forward EPS | $ -1.31 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 70.4 M | |
| Net Tangible Assets | $ 1.6 B | |
| Total Current Assets | $ 2.1 B | |
| Cash and Short-Term Investments | $ 2.0 B | |
| Cash | $ 383.7 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 19.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 64.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 290.4 M | |
| Net Debt | — | |
| Total Debt | $ 158.7 M | |
| Total Liabilities | $ 723.2 M | |
| EQUITY | ||
| Total Equity | $ 1.6 B | |
| Retained Earnings | $ -2.87 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.28 | |
| Shares Outstanding | 197.001 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 18.0 B |
| Enterprise Value | $ 16.1 B | |
| Enterprise Multiple | -46.302 | |
| Enterprise Multiple QoQ | 85.358 % | |
| Enterprise Multiple YoY | 63.883 % | |
| Enterprise Multiple IPRWA | high: 67.346 median: 51.922 mean: 13.522 RVMD: -46.302 low: -114.076 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.443 | |
| Asset To Liability | 3.256 | |
| Debt To Capital | 0.089 | |
| Debt To Assets | 0.067 | |
| Debt To Assets QoQ | -4.221 % | |
| Debt To Assets YoY | 26.93 % | |
| Debt To Assets IPRWA | high: 1.032 mean: 0.119 RVMD: 0.067 median: 0.005 low: 0.0 |
|
| Debt To Equity | 0.097 | |
| Debt To Equity QoQ | -1.955 % | |
| Debt To Equity YoY | 62.231 % | |
| Debt To Equity IPRWA | high: 1.524 mean: 0.143 RVMD: 0.097 median: 0.005 low: -0.893 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 11.029 | |
| Price To Book QoQ | 95.625 % | |
| Price To Book YoY | 205.823 % | |
| Price To Book IPRWA | high: 19.432 RVMD: 11.029 median: 5.998 mean: 5.074 low: -10.511 |
|
| Price To Earnings (P/E) | -49.102 | |
| Price To Earnings QoQ | 66.577 % | |
| Price To Earnings YoY | 25.142 % | |
| Price To Earnings IPRWA | high: 74.171 mean: 0.267 median: -14.743 RVMD: -49.102 low: -119.903 |
|
| PE/G Ratio | -3.162 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -40.423 | |
| Forward PE/G | -2.603 | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 937.301 mean: 216.675 median: 192.562 RVMD: 0 low: -594.03 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.415 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.6 B | |
| Net Invested Capital | $ 1.6 B | |
| Invested Capital | $ 1.6 B | |
| Net Tangible Assets | $ 1.6 B | |
| Net Working Capital | $ 1.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 6.975 | |
| Current Ratio | 7.145 | |
| Current Ratio QoQ | -11.254 % | |
| Current Ratio YoY | -49.685 % | |
| Current Ratio IPRWA | high: 27.397 RVMD: 7.145 mean: 3.718 median: 2.827 low: 0.027 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.456 | |
| Cost Of Debt | 7.498 % | |
| Interest Coverage Ratio | -29.571 | |
| Interest Coverage Ratio QoQ | 15.03 % | |
| Interest Coverage Ratio YoY | 26.986 % | |
| Interest Coverage Ratio IPRWA | high: 671.002 mean: 41.246 median: 3.11 RVMD: -29.571 low: -1571.333 |
|
| Operating Cash Flow Ratio | -1.275 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.556 % | |
| Revenue Growth | — | |
| Revenue Growth QoQ | — | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | 15.528 % | |
| Earnings Growth QoQ | -32.195 % | |
| Earnings Growth YoY | -18.91 % | |
| Earnings Growth IPRWA | high: 204.0 % RVMD: 15.528 % mean: -17.407 % median: -17.687 % low: -237.5 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -276.16 M | |
| Free Cash Flow Yield | -1.535 % | |
| Free Cash Flow Yield QoQ | -34.402 % | |
| Free Cash Flow Yield YoY | -10.129 % | |
| Free Cash Flow Yield IPRWA | high: 21.452 % median: 0.303 % mean: 0.2 % RVMD: -1.535 % low: -51.848 % |
|
| Free Cash Growth | 31.094 % | |
| Free Cash Growth QoQ | -484.256 % | |
| Free Cash Growth YoY | 647.272 % | |
| Free Cash Growth IPRWA | high: 177.21 % RVMD: 31.094 % median: -25.381 % mean: -33.689 % low: -201.25 % |
|
| Free Cash To Net Income | 0.757 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 1.015 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -15.843 % | |
| Return On Assets QoQ | 21.505 % | |
| Return On Assets YoY | 75.936 % | |
| Return On Assets IPRWA | high: 33.814 % median: 1.099 % mean: -2.526 % RVMD: -15.843 % low: -65.985 % |
|
| Return On Capital Employed (ROCE) | -17.1 % | |
| Return On Equity (ROE) | -0.224 | |
| Return On Equity QoQ | 17.036 % | |
| Return On Equity YoY | 160.426 % | |
| Return On Equity IPRWA | high: 0.809 median: 0.039 mean: 0.004 RVMD: -0.224 low: -1.16 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |