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.
Erasca, a clinical-stage oncology company, announced significant developments in its recent press release. The company signed an exclusive worldwide license for naporafenib, a pan-RAF inhibitor, and completed a $100 million equity offering. It plans multiple clinical data readouts throughout 2023, including for its ERAS-007 and ERAS-601 therapies. As of December 31, 2022, Erasca had a robust balance sheet with cash and equivalents totaling $436 million, expected to support operations into H2 2025. However, the company reported a net loss of $242.8 million for the full year 2022, primarily due to in-process R&D expenses associated with the naporafenib licensing agreement.
Erasca Inc. (Nasdaq: ERAS) announced a poster presentation at the AACR Annual Meeting on April 18, 2023, discussing preliminary Phase 1 dose escalation data for ERAS-601, a potential best-in-class SHP2 inhibitor, in combination with cetuximab. This study focuses on advanced or metastatic solid tumors. The poster will be available online post-presentation. The company emphasized its mission to develop therapies targeting RAS/MAPK pathway-driven cancers and highlighted the scientific expertise behind its cancer treatments. Caution is advised regarding forward-looking statements on product efficacy and potential risks in clinical development.
On February 1, 2023, Erasca, Inc. (Nasdaq: ERAS) announced its participation in the Guggenheim Oncology Conference 2023. The event will feature a fireside chat with CEO Jonathan E. Lim, M.D., and CFO David M. Chacko at 1:00 PM ET on February 8, 2023. They will also engage in one-on-one investor meetings. A live webcast will be available, with an archived replay accessible for 30 days post-event. Erasca focuses on developing therapies for patients with RAS/MAPK pathway-driven cancers, aiming to be a leader in precision oncology.
Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company, will participate in the 41st annual J.P. Morgan Healthcare Conference on January 9, 2023, at 8:15 am PT. CEO Dr. Jonathan E. Lim will present an overview of the company and its RAS/MAPK pathway-focused pipeline in Elizabethan Room C of the Westin St. Francis Hotel, San Francisco. Additionally, Dr. Lim and CFO David M. Chacko will engage in one-on-one investor meetings. A live audio webcast of the event will be available on Erasca's website, with an archived replay accessible for 30 days.
Erasca, Inc. (Nasdaq: ERAS) announced the dosing of the first patient in the HERKULES-1 Phase 1b trial, evaluating the ERK1/2 inhibitor ERAS-007 and SHP2 inhibitor ERAS-601 in advanced solid tumors. The trial aims to assess safety and efficacy in RAS/MAPK pathway-altered tumors. Preliminary data showed positive responses; 44% of patients with BRAF-driven tumors exhibited responses to either monotherapy ERAS-007 or ERAS-601. This highlights the potential of targeting BRAF Class 2 and 3 alterations, which currently lack approved therapies, representing a significant unmet need in oncology.
Erasca, Inc. (Nasdaq: ERAS) announced FDA clearance of an IND application for ERAS-3490, a small molecule KRAS G12C inhibitor aimed at treating solid tumors with high CNS penetration. The drug targets the KRAS G12C mutation, prevalent in various cancers, including non-small cell lung cancer (NSCLC), where CNS metastases affect up to 40% of patients. Nonclinical data show strong anti-tumor activity and survival benefits in relevant cancer models, underscoring the potential of ERAS-3490 in precision oncology.
Erasca, Inc. (Nasdaq: ERAS) has entered a $100 million equity offering to support its exclusive worldwide license agreement with Novartis for naporafenib, a promising cancer treatment targeting NRAS mutant melanoma and other RAS/MAPK-driven tumors. Naporafenib has been evaluated in over 500 patients, showing strong safety and efficacy as both a single agent and in combination therapies. The agreement includes a $20 million upfront cash payment and stock issuance, and could yield up to $280 million in milestone payments for Novartis. A conference call will elaborate on these developments.
Erasca, Inc. (Nasdaq: ERAS) announced a pricing of an underwritten offering of 15,384,616 shares of common stock at $6.50 each, aiming to raise approximately $100 million. All shares are offered by Erasca, expected to close on December 13, 2022, pending customary closing conditions. Proceeds will support research and development of product candidates, working capital, and general corporate purposes. The offering is filed under a previously effective shelf registration with the SEC.
ERAS-007, a promising ERK1/2 inhibitor, is undergoing evaluation in combination with encorafenib and cetuximab for BRAF V600E-mutant metastatic colorectal cancer (mCRC). Erasca has formed a clinical trial collaboration with Pierre Fabre to facilitate this study, broadening its reach in Europe and Asia Pacific. Encorafenib, previously approved for mCRC, shows limited efficacy, with only 20% of patients responding. The aim of this combination therapy is to enhance treatment outcomes by reducing resistance mechanisms. This partnership complements existing collaborations with Pfizer.
Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company, has announced presentations at two upcoming investor conferences. The 5th Annual Evercore ISI HealthCONx Conference will be held virtually from November 29 to December 1, with a fireside chat scheduled for November 29 at 8:50 AM EST. Additionally, the Bank of America SMID Cap Conference is set for December 7-8, featuring a fireside chat on December 8 at 11:25 AM EST. Archived replays of both events will be available until February 2023. Visit Erasca.com/events for more details.
FAQ
What is the current stock price of Erasca (ERAS)?
What is the market cap of Erasca (ERAS)?
What is Erasca, Inc.'s primary focus?
What are the key drugs in Erasca’s pipeline?
What recent achievements has Erasca reported?
How is Erasca funded?
What partnerships has Erasca entered into?
What is the SEACRAFT-2 trial?
What does FDA Fast Track Designation mean for Erasca?
What financial milestones has Erasca achieved recently?
What is the significance of Erasca's mission statement?
How does Erasca's technology target cancer?
