Acquisition (Tables)

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

Schedule of Number of Shares of Common Stock Revolution Medicines Issued to EQRx Equity Holders

The following table reflects the consideration transferred by the Company:

	Amount
	(in thousands)
Fair value of shares of combined company to be owned by EQRx stockholders (1)	$	1,096,826
Less: Fair value of EQRx equity awards converting to Revolution Medicines common stock attributable to post-combination service		(11,150	)
Taxes paid by Revolution Medicines on behalf of EQRx to satisfy statutory income tax withholding obligations		4,026
Fair value of warrants		6,907
Fair value of contingent earn-out shares		490
Purchase price	$	1,097,099

Schedule of Allocation of Consideration Transferred to the Assets Acquired and Liabilities

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the Closing Date:

	Amount
	(in thousands)
Cash and cash equivalents	$	860,918
Marketable securities		313,878
Prepaid expenses and other current assets		12,084
Restricted cash		633
Other noncurrent assets		2,912
Accounts payable		(6,893	)
Accrued expenses and other current liabilities		(30,506	)
Net assets acquired	$	1,153,026

Schedule of Excess of Fair Value of Assets Acquired Over the Purchase Consideration Under Asset Acquisition Accounting

The following table calculates the excess of fair value of assets acquired over the purchase consideration under asset acquisition accounting:

	Amount
	(in thousands)
Purchase price	$	1,097,099
Less: net assets acquired		(1,153,026	)
Remaining excess fair value of net assets acquired over the purchase price	$	(55,927	)