Erasca, Inc. Stock Price, News & Analysis

Erasca (Nasdaq: ERAS), a clinical-stage precision oncology company focused on RAS/MAPK pathway-driven cancers, announces its participation in three upcoming investor conferences. The company will present at the Guggenheim Securities Healthcare Innovation Conference in Boston (November 12), the Jefferies London Healthcare Conference (November 20), and the 7th Annual Evercore HealthCONx Conference in Coral Gables (December 4). Management will engage in one-on-one investor meetings, and live audio webcasts will be available on Erasca.com/events, with replays accessible for 90 days.

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.