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Erasca, Inc. (Nasdaq: ERAS) is a clinical-stage precision oncology company dedicated to discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Their mission, embodied in their name, is to 'erase cancer'. The company's innovative approach aims to not just treat but potentially cure cancer by targeting and shutting down the RAS/MAPK pathway, which plays a crucial role in many types of cancer.
Erasca’s robust clinical pipeline includes promising drug candidates such as Naporafenib, a pan-RAF inhibitor with first-in-class potential targeting NRASm melanoma and RAS Q61X tissue agnostic solid tumors. The company's other notable candidates include ERAS-007, a highly selective oral ERK1/2 inhibitor, and ERAS-601, an oral SHP2 inhibitor, which target different nodes of the RAS/MAPK pathway. These efforts are supported by recent collaborations with industry giants like Novartis, who are providing crucial compounds like trametinib (MEKINIST®) for combination trials.
On the financial front, Erasca is well-funded with significant investments from both new and existing investors, having recently raised approximately $45 million in a private placement expected to close in April 2024. As of December 2023, the company reported $322 million in cash, cash equivalents, and marketable securities, ensuring a solid runway into the second half of 2026.
Among their latest achievements, Erasca has received FDA Fast Track Designation (FTD) for Naporafenib in combination with trametinib for advanced NRASm melanoma. This designation facilitates accelerated development and review processes, reflecting the potential of their therapies to address unmet medical needs.
The company’s pivotal Phase 3 SEACRAFT-2 trial for Naporafenib in post-immunotherapy settings for NRASm melanoma is slated to begin in the first half of 2024. Additionally, Erasca has announced exciting new partnerships and pipeline enhancements, including in-licensing two preclinical RAS programs, ERAS-0015 and ERAS-4001, to further solidify their leadership in the precision oncology space.
For more up-to-date information on Erasca, Inc., including their latest financial results and key upcoming milestones, visit their official website or recent press releases.
Erasca (ERAS) reported positive preliminary Phase 1b SEACRAFT-1 trial data for naporafenib plus trametinib in NRASm melanoma, showing a 40% response rate (4/10 patients). The Phase 3 SEACRAFT-2 trial is progressing with randomized data expected in 2025, supported by US and European regulatory alignment for potential approval. The company's RAS targeting franchise, including pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001, remains on track for IND submissions in H1 2025 and Q1 2025, respectively. The treatment demonstrated favorable tolerability with mostly low-grade adverse events, and improved management of dermatological toxicities through mandatory primary prophylaxis.
Erasca, Inc. (Nasdaq: ERAS) announced an upcoming oral presentation of preliminary SEACRAFT-1 Phase 1 data for naporafenib plus trametinib in patients with RAS Q61X mutant solid tumors at the 36th EORTC-NCI-AACR Symposium. Naporafenib is a potential first-in-class and best-in-class pan-RAF inhibitor. The presentation, scheduled for October 24, 2024, will be given by Dr. Elisa Fontana from Sarah Cannon Research Institute, London.
Erasca is also evaluating naporafenib plus trametinib in the ongoing SEACRAFT-2 pivotal Phase 3 trial in NRAS-mutant melanoma, where favorable survival was previously demonstrated. The company will host a virtual R&D update for investors on October 24, 2024, at 8:30 AM ET, coinciding with the symposium.
Erasca (Nasdaq: ERAS), a clinical-stage precision oncology company, has announced its participation in two major investor conferences in September 2024. The company will present at the 22nd Annual Morgan Stanley Global Healthcare Conference on September 5 and the 2024 Cantor Global Healthcare Conference on September 18, both in New York City.
At both events, Erasca's management will engage in fireside chats and one-on-one investor meetings. The Morgan Stanley conference presentation is scheduled for 12:20 - 12:55 pm ET, while the Cantor conference slot is 3:40 - 4:10 pm ET. Live audio webcasts of these events will be available on Erasca's website, with archived replays accessible for 30 days post-event.
Erasca (ERAS) reported Q2 2024 financial results and business updates. Key highlights include:
- In-licensed potential best-in-class pan-RAS molecular glue ERAS-0015 and potential first-in-class pan-KRAS inhibitor ERAS-4001
- Initiated SEACRAFT-2 registrational trial for naporafenib in NRASm melanoma
- Cash position of $460.2 million as of June 30, 2024, expected to fund operations into H1 2027
- Completed $229 million in equity financings
- Q2 2024 net loss of $63.2 million, or $(0.29) per share
- R&D expenses increased to $33.0 million, G&A expenses rose to $12.3 million
The company anticipates key milestones in 2024-2026, including data readouts from SEACRAFT-1, SEACRAFT-2, AURORAS-1, and BOREALIS-1 trials.
Erasca has initiated the SEACRAFT-2 Phase 3 trial for the pan-RAF inhibitor naporafenib paired with the MEK inhibitor trametinib in patients with NRAS-mutant melanoma. This pivotal trial aims to address the significant unmet need in treating this aggressive cancer type, which currently lacks approved targeted therapies.
The SEACRAFT-2 trial, designed with two stages, will first offer a randomized data readout in 2025 comparing the combination therapy against trametinib alone to determine the optimal dosage. Stage 2 aims for regulatory approval based on progression-free survival (PFS) and overall survival (OS) metrics, comparing against chemotherapy or single-agent MEK inhibitors.
Previous trials have shown promising results, with median overall survival (mOS) of up to 14.1 months and median progression-free survival (mPFS) of up to 5.1 months for patients dosed with naporafenib and trametinib, surpassing historical benchmarks.
Erasca (Nasdaq: ERAS), a clinical-stage precision oncology company, announced participation in two upcoming investor conferences in June 2024. Dr. Jonathan E. Lim, chairman, CEO, and co-founder, along with Dr. David M. Chacko, CFO and chief business officer, will present at the Jefferies Global Healthcare Conference and the Goldman Sachs 45th Annual Global Healthcare Conference. The Jefferies conference will be held on June 5-6 at the Marriott Marquis in New York, with the presentation scheduled for June 6 from 10:30 to 10:55 AM ET. The Goldman Sachs conference will occur from June 10-13 at the Loews Miami Beach Hotel, with a fireside chat on June 12 from 10:40 to 11:15 AM ET. Both events will be webcasted live, with replays available for 30 days on Erasca's website.
Erasca, a clinical-stage oncology firm, announced the successful closing of an oversubscribed underwritten offering of 99,459,458 shares at $1.85 per share, including the full exercise of the underwriters' option for an additional 12,972,972 shares. This generated approximately $184 million in gross proceeds. The funds will be used for research, development of product candidates, and general corporate purposes. J.P. Morgan and BofA Securities managed the offering, which was conducted under a shelf registration statement with the SEC.
Erasca has announced the in-licensing of two preclinical RAS programs: ERAS-0015, a pan-RAS molecular glue, and ERAS-4001, a pan-KRAS inhibitor. Both compounds show high potency and oral bioavailability, with the potential to address unmet needs in RAS-mutant tumors. Concurrently, Erasca has priced a $160 million equity offering.
In connection with these new programs, Erasca will deprioritize several existing projects and restructure its workforce, impacting 18% of employees. The company aims to focus on programs with the highest success probabilities. Key upcoming milestones for the pipeline include Phase 1 and Phase 3 trials for various compounds, with initial data expected in late 2024 and beyond.
Erasca, a clinical-stage precision oncology company focused on RAS/MAPK pathway-driven cancers, announced the pricing of an underwritten offering of 86,486,486 shares of its common stock at $1.85 per share.
The offering is expected to raise approximately $160 million before underwriting discounts and expenses. Erasca has also granted underwriters a 30-day option to purchase an additional 12,972,972 shares.
The offering is anticipated to close on May 21, 2024, subject to customary closing conditions. J.P. Morgan and BofA Securities are the joint book-running managers.
Proceeds will fund research and development, as well as general corporate purposes. The offering is made under a shelf registration statement effective August 18, 2022.
Erasca, Inc. (Nasdaq: ERAS) reported strong Q1 2024 results with promising survival data for naporafenib plus trametinib in patients with NRASm melanoma, leading to an oversubscribed $45 million financing. The company extended its cash runway into H2 2026 and expects upcoming data readouts across multiple clinical programs. R&D and corporate highlights showcase continued progress and collaborations, positioning Erasca well for future growth.
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