T. Rowe Price holds 5.7% of Erasca (NASDAQ: ERAS) stock

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G reporting beneficial ownership of 16,111,414 shares of Erasca Inc. common stock, representing 5.7% of the class as of 12/31/2025.

The firm reports sole power to vote and dispose of all 16,111,414 shares, with no shared voting or dispositive power. It states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Erasca.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

ERASCA INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

29479A108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 29479A108

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 16,111,414.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 16,111,414.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,111,414.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ERASCA INC
(b)	Address of issuer's principal executive offices: 10835 ROAD TO THE CURE, SUITE 140, SAN DIEGO, CA, 92121
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 29479A108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 16111414
(b)	Percent of class: 5.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 16111414
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 16111414
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What percentage of Erasca (ERAS) does T. Rowe Price Investment Management report owning?

T. Rowe Price Investment Management reports beneficial ownership of 5.7% of Erasca’s common stock. This stake, disclosed on an amended Schedule 13G, reflects institutional-level ownership and can signal meaningful engagement with the company’s equity over time.

How many Erasca (ERAS) shares are beneficially owned according to this Schedule 13G/A?

The filing reports beneficial ownership of 16,111,414 shares of Erasca common stock. T. Rowe Price Investment Management indicates sole voting and sole dispositive power over all these shares, with no shared authority reported for voting or disposition.

As of what date is T. Rowe Price Investment Management’s Erasca (ERAS) ownership measured?

The ownership position is measured as of December 31, 2025. The Schedule 13G/A uses this date as the event that triggered the filing requirement, tying the 5.7% ownership and share count to that specific point in time.

Does T. Rowe Price Investment Management seek to influence control of Erasca (ERAS) with this stake?

The firm states the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Erasca, aligning with a passive investment intent disclosure.

What type of investor is T. Rowe Price Investment Management in relation to Erasca (ERAS)?

T. Rowe Price Investment Management is identified as an investment adviser filing on Schedule 13G. It reports beneficial ownership but also includes standard language denying that the filing should be construed as an admission of beneficial ownership.

What voting and dispositive powers does T. Rowe Price report over Erasca (ERAS) shares?

The firm reports sole voting power and sole dispositive power over 16,111,414 Erasca shares, with no shared voting or dispositive power. This means it alone can vote and decide on the disposition of these reported shares.