T. Rowe Price holds 21.2M Erasca shares (ERAS) as 6.8% owner

Rhea-AI Filing Summary

T. Rowe Price Investment Management reports beneficial ownership in ERASCA INC. As of 03/31/2026 the filing shows 21,224,264 shares beneficially owned, representing 6.8% of the class. The filer discloses sole voting power over 20,502,610 shares and sole dispositive power over 21,224,264 shares.

The filing is an amendment to a Schedule 13G/A and includes a signed affirmation dated 05/15/2026.

Insights

Institutional Ownership Specialist

T. Rowe Price holds a meaningful passive stake in ERASCA as disclosed.

The filing lists 21,224,264 shares beneficially owned, equal to 6.8% of the class as of 03/31/2026. The record shows sole voting power of 20,502,610 shares and sole dispositive power of 21,224,264 shares.

Changes in future filings could alter this picture; subsequent amendments or Schedule 13D would disclose shifts in ownership or intent.

Corporate Governance Analyst

The filing is a passive disclosure rather than an active control claim.

The form type (Schedule 13G/A) typically signals passive institutional ownership; the filer also includes an explicit denial of beneficial ownership in the text. Voting and dispositive powers are quantified in the filing.

Watch for further amendments if the filer changes its voting intent or ownership threshold in later SEC filings.

Key Figures

Beneficial ownership: 21,224,264 shares Percent of class: 6.8% Sole voting power: 20,502,610 shares

3 metrics

Beneficial ownership 21,224,264 shares as of 03/31/2026

Percent of class 6.8% percent of common stock reported

Sole voting power 20,502,610 shares voting power disclosed in ownership table

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 3 ) ERASCA INC COMMON STOCK"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 21224264"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power financial

"(iii) Sole power to dispose or to direct the disposition of: 21224264"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

ERASCA INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

29479A108

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 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 20,502,610.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 21,224,264.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,224,264.00

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)

6.8 %

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: 21224264
(b)	Percent of class: 6.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 20502610
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 21224264
	(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:	05/15/2026

FAQ

What stake does T. Rowe Price report in ERAS (ERAS)?

T. Rowe Price reports beneficial ownership of 21,224,264 shares, equal to 6.8% of ERAS common stock. The Schedule 13G/A amendment lists voting and dispositive powers with dates shown as 03/31/2026 and signature dated 05/15/2026.

How many votes does T. Rowe Price control in ERAS?

The filing shows sole voting power over 20,502,610 shares. That number is disclosed in the ownership section of the Schedule 13G/A as the filer’s sole voting authority.

Does the filing indicate T. Rowe Price is the beneficial owner?

The filer expressly states that the filing "shall not be construed as an admission" of beneficial ownership and denies such ownership. The Schedule 13G/A includes that specific affirmative disclaimer signed by the filer.

What dates are relevant in this Schedule 13G/A for ERAS?

The ownership figures are reported as of 03/31/2026, and the amendment is signed on 05/15/2026. Those two dates appear in the filing’s header and signature block respectively.