Dear Reader,
This is Dylan Jovine with Behind the Markets.
Happy Wednesday.
Today is Wednesday, April 15th.
We all know someone who has had pancreatic cancer.
And we all know how that story usually ends.
Of all the major cancers, pancreatic cancer has the lowest five-year survival rate — just 13%.
It is basically a death sentence.
I had a friend named Ken.
Mr. Colorado.
This big, muscular guy who looked like Arnold Schwarzenegger.
He got pancreatic cancer and nine months later he had withered into a skeleton with vacant eyes.
He passed away.
I remember thinking — pancreatic cancer is brutal.
Finally, Some Good News
This week, Revolution Medicines announced that its pancreatic cancer drug, Daraxonrasib, succeeded in phase three trials.
The drug almost doubled typical survival.
Patients who took it lived 13.2 months on average, versus 6.7 months for chemotherapy.
Doctors are calling this a practice-changing outcome — meaning it is such a significant result that it is going to change how pancreatic cancer is treated.
The company is filing for FDA approval.
Why This Drug Works
Revolution Medicines focuses on targeting what are called RAS mutations — the genetic drivers of tumor growth.
These mutations are present in about 90% of pancreatic cancers and about 30% of all cancers generally.
The drug works as an inhibitor — I always think of inhibitors like a doorstop that just stops something from happening.
It stops the tumor from growing and replicating.
The Human Side of This Story
I really started paying close attention last week when former Republican Senator Ben Sasse — who was diagnosed with pancreatic cancer last year and given only months to live — shared his experience with the Times.
His tumors had shrunk by 76% since he started taking the drug.
76%.
There are side effects — a facial rash being one of the notable ones.
Nothing great comes without a cost, at least not yet.
But the direction here is extraordinary.
What Comes Next
The company is seeking approval for second-line treatment — meaning patients whose first line of treatment has already failed.
And right now they are also conducting phase three trials for newly diagnosed patients.
That is the really important distinction.
Second-line means you use it after the first treatment fails.
First-line means you give it to someone the moment they are diagnosed.
If this drug works as well at the front line as it has at the second line, the upside is enormous.
What This Means for Investors
Revolution Medicines jumped about 35% to 40% this week on the news.
And that jump really speaks to something I've been watching for a while now.
Biotech stocks are one of the cheapest sectors in the entire S&P 500 right now.
They have been seriously depressed.
I am genuinely excited about what is coming.
And not just for investment reasons — I have lost too many people I care about to cancer.
We all have.
Anyway, that's all I have.
Have a wonderful day.
I will see you tomorrow.
“The Buck Stops Here,”
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Written by Dylan Jovine