Revolution Medicines Completes Acquisition of EQRx
REDWOOD CITY, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced it has closed its acquisition of EQRx, Inc.
- Acquisition Expected to Add Approximately $1.1 Billion in Net Cash to Revolution Medicines’ Balance Sheet, Supporting Late-Stage Development of RAS(ON) Inhibitor Investigational Drugs
REDWOOD CITY, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced it has closed its acquisition of EQRx, Inc. - Through the acquisition, Revolution Medicines expects to add approximately $1.1 billion in net cash proceeds to its balance sheet, after estimated post-closing EQRx wind-down and transition costs.
- Each share of common stock of EQRx issued has been converted into the right to receive 0.1112 shares of common stock of Revolution Medicines.
- EQRx common stock has ceased trading on the Nasdaq Global Market and all EQRx programs are being wound down.