Erasca Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
Erasca (Nasdaq: ERAS) closed its previously announced upsized public offering of 36,142,857 common shares, including 4,714,285 shares from the underwriters’ full over‑allotment option, at $17.50 per share.
Rhea-AI Summary
Erasca (Nasdaq: ERAS) closed its previously announced upsized public offering of 36,142,857 common shares, including 4,714,285 shares from the underwriters’ full over‑allotment option, at $17.50 per share. Gross proceeds to Erasca were approximately $632.5 million before underwriting discounts, commissions, and expenses.
According to Erasca, all shares were issued by the company, and it plans to use the net proceeds, together with existing cash, cash equivalents, and marketable securities, to fund research and development of its oncology product candidates, other development programs, and for working capital and general corporate purposes. The offering was conducted under an effective shelf registration on Form S‑3, with J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI serving as joint book‑running managers.
Positive
- Gross equity proceeds of approximately $632.5 million raised
- Shares priced at $17.50 with full underwriters’ option exercised
- All 36,142,857 shares issued by the company to fund R&D and operations
Negative
- Issuance of 36,142,857 new shares increases share count and dilutes existing holders
Details
Market move: ERAS -10.54% in the Jul 16 session. upsized common stock offering
On Jul 16, the first trading day after this news, ERAS closed 10.54% below the previous close. Argus tracked a trough of -7.6% from its starting point during tracking. Our momentum scanner recorded 22 alerts for this stock that day.
Data tracked by StockTitan Argus for the Jul 16 session.
Key Figures
- Shares offered
- 36,142,857 shares
- Total common stock in upsized public offering
- Underwriters’ option shares
- 4,714,285 shares
- Additional shares from full exercise of option
- Offering price
- $17.50 per share
- Public offering price for common stock
- Gross proceeds
- $632.5 million
- Gross proceeds before underwriting discounts and expenses
Previous Offering Reports
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Priced upsized common stock offering at $17.50 for about $550M gross proceeds.
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Proposed $500M primary common stock offering plus $75M underwriter option.
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Closed upsized offering of 25,875,000 shares at $10.00 for $258.8M gross.
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Priced 22,500,000 shares at $10.00 with 3,375,000-share underwriter option.
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Proposed $150M common stock offering with $22.5M additional underwriter option.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
underwriters’ option financial
shelf registration statement regulatory
form s-3 regulatory
prospectus supplement regulatory
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SAN DIEGO, July 15, 2026 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced that it has closed its previously announced upsized public offering of 36,142,857 shares of its common stock, including 4,714,285 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. The shares of common stock were sold to the public at a price of
Erasca intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to fund the research and development of its product candidates and other development programs and for working capital and other general corporate purposes.
J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI acted as joint book-running managers for the offering.
The securities described above were offered by Erasca pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (SEC) on July 13, 2026 and automatically became effective upon filing.
A final prospectus supplement relating to this offering has been filed with the SEC. The offering was made only by means of a prospectus supplement and accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com. Electronic copies of the final prospectus supplement and accompanying prospectus are also available on the website of the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Erasca
At Erasca, our name is our mission: To erase cancer. We are a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Our company was co-founded by leading pioneers in precision oncology and RAS targeting to create novel therapies and combination regimens designed to comprehensively shut down the RAS/MAPK pathway for the treatment of patients with cancer. We believe our team’s capabilities and experience, further guided by our scientific advisory board which includes the world’s leading experts in the RAS/MAPK pathway, uniquely position us to achieve our bold mission of erasing cancer.
Forward Looking Statements
Erasca cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: our expectations regarding the anticipated use of proceeds from the public offering. Actual results may differ from those set forth in this press release due to the risks and uncertainties associated with market conditions, as well as risks and uncertainties inherent in our business described in our prior filings with the SEC, including under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025, and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contact:
Joyce Allaire
LifeSci Advisors, LLC
jallaire@lifesciadvisors.com
Source: Erasca, Inc.
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