Overview
- People familiar with the matter told the Wall Street Journal that negotiations cooled after the sides failed to agree on valuation, and the companies did not comment on the status.
- Earlier reports put a potential price at $28 billion to $32 billion, a range that followed a jump in Revolution’s value to above $22 billion from about $16 billion before takeover speculation.
- Revolution Medicines shares fell about 23% in premarket trading to $90.88, while Merck shares edged higher.
- Merck’s interest centered on Revolution’s RAS‑targeting pipeline led by daraxonrasib, which has an FDA fast‑track/priority voucher and is in Phase 3 for pancreatic cancer.
- Attention now turns to 2026 clinical readouts, and sources indicated talks could restart or another bidder might emerge.