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Erasca, Inc. - ERAS STOCK NEWS

Welcome to our dedicated page for Erasca news (Ticker: ERAS), a resource for investors and traders seeking the latest updates and insights on Erasca stock.

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.

Rhea-AI Summary

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.

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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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Erasca, Inc. (Nasdaq: ERAS) will be presenting at the Bank of America Health Care Conference in Las Vegas, Nevada. The company focuses on developing therapies for RAS/MAPK pathway-driven cancers. The presentation will take place on May 15, 2024, at 4:20 pm Pacific Time.

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Erasca, Inc. (Nasdaq: ERAS) announced three presentations at the 2024 ASCO Annual Meeting. The oral presentation will showcase updated HERKULES-3 results for ERAS-007 in combination with encorafenib and cetuximab in BRAFm colorectal cancer. Poster presentations will feature SEACRAFT-1 Phase 1 trial design for naporafenib plus trametinib in RAS Q61X mutations, and preliminary FLAGSHP-1 Phase 1 results for ERAS-601 and cetuximab in chordoma.
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Erasca, Inc. secures funding of $45 million through a private placement to extend cash runway until H2 2026, boosting its focus on precision oncology therapies for RAS/MAPK pathway-driven cancers.
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Erasca, Inc. (ERAS) achieves global registrational clarity for naporafenib and reports key clinical milestones for naporafenib, ERAS-007, and ERAS-801. The company anticipates multiple data readouts in 2024 and plans to initiate the pivotal SEACRAFT-2 trial. Erasca has a strong balance sheet with $322 million in cash, cash equivalents, and marketable securities as of December 31, 2023. Erasca's R&D update conference call and webcast are scheduled for March 28, 2024, at 8:30 am ET.
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Erasca, Inc. announces clinical trial collaboration agreements with Novartis for pan-RAF inhibitor naporafenib in combination with trametinib for RAS/MAPK pathway-driven tumors. SEACRAFT-1 Phase 1b data expected in 2024, SEACRAFT-2 initiation in H1 2024.
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Erasca, Inc. (Nasdaq: ERAS) will participate in the 6th Annual Guggenheim Biotechnology Conference in New York, with the chairman and CEO, Jonathan E. Lim, and the CFO and chief business officer, David M. Chacko, taking part in a fireside chat and one-on-one investor meetings. The live audio webcast and archived replay of the event will be available on Erasca's website.
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Erasca, Inc. (Nasdaq: ERAS) to present at 42nd annual J.P. Morgan Healthcare Conference, with a focus on precision oncology therapies for RAS/MAPK pathway-driven cancers.
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Erasca, Inc. (Nasdaq: ERAS) has announced that the FDA granted Fast Track Designation to naporafenib in combination with trametinib for the treatment of adult patients with unresectable or metastatic melanoma who have progressed on or are intolerant to anti‑programmed death-1 (ligand 1) (PD‑(L)1)-based regimen, and whose tumors contain an NRAS mutation. Naporafenib is an orally available, Phase 3-ready pan-RAF inhibitor with a potential first-in-class and best-in-class profile in NRAS-melanoma and other RAS/MAPK pathway-altered solid tumors. The company is rapidly advancing clinical development with the initiation of the pivotal Phase 3 SEACRAFT-2 trial expected in the first half of 2024.
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FAQ

What is the current stock price of Erasca (ERAS)?

The current stock price of Erasca (ERAS) is $2.7 as of November 22, 2024.

What is the market cap of Erasca (ERAS)?

The market cap of Erasca (ERAS) is approximately 764.8M.

What is Erasca, Inc.'s primary focus?

Erasca, Inc. is focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.

What are the key drugs in Erasca’s pipeline?

Key drugs in Erasca's pipeline include Naporafenib, ERAS-007, and ERAS-601 targeting various nodes of the RAS/MAPK pathway.

What recent achievements has Erasca reported?

Erasca has received FDA Fast Track Designation for Naporafenib in combination with trametinib and announced significant collaborations and financial investments.

How is Erasca funded?

Erasca is funded through a combination of private placements and existing investments, with a strong cash position reported at $322 million as of December 2023.

What partnerships has Erasca entered into?

Erasca has partnered with Novartis, among others, to support clinical development of their drug candidates and has in-licensed two preclinical RAS programs.

What is the SEACRAFT-2 trial?

The SEACRAFT-2 trial is a pivotal Phase 3 study evaluating the efficacy of Naporafenib in combination with trametinib for NRAS-mutant melanoma patients post-immunotherapy.

What does FDA Fast Track Designation mean for Erasca?

FDA Fast Track Designation facilitates accelerated development and review processes for Naporafenib in combination with trametinib, aiming to expedite its availability for patients with advanced NRAS-melanoma.

What financial milestones has Erasca achieved recently?

Recently, Erasca secured approximately $45 million in a private placement and reported a strong cash position to fund operations into 2026.

What is the significance of Erasca's mission statement?

Erasca's mission to 'erase cancer' reflects their dedication to creating transformative oncology therapies aimed at not just treating but potentially curing cancer.

How does Erasca's technology target cancer?

Erasca's technology targets the RAS/MAPK pathway, which is critical in many cancers. Their therapies aim to comprehensively shut down this pathway to treat and potentially cure cancer.

Erasca, Inc.

Nasdaq:ERAS

ERAS Rankings

ERAS Stock Data

764.78M
228.31M
12.39%
87.01%
11.67%
Biotechnology
Pharmaceutical Preparations
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