Revolution Medicines falls after Incyte posts competitive pancreatic cancer data

** Shares of Revolution Medicines RVMD.O down 1% at $185.06

** Incyte INCY.O reports an 89% response rate for its KRAS G12D drug zecdarasib in a pancreatic cancer study at ESMO; with RBC Capital Markets analysts saying the results appear broadly competitive with RVMD's zoldonrasib but not clearly differentiated

** Both companies are developing similar drugs for KRAS G12D-mutant pancreatic cancer, making them key rivals in the space

** RBC says Incyte's pancreatic cancer data showed no major surprises, with response rates and safety largely in line with expectations and comparable to those previously reported by Revolution

** Brokerage notes INCY's zecdarasib remains on a similar development timeline, with late-stage pancreatic cancer data expected in 2028

** RBC says the two companies remain "neck-and-neck", with longer-term survival data likely to determine the winner

** Including session moves, RVMD has been doubled YTD