Suvretta and Averill File Schedule 13G Disclosing Stakes in Erasca

Rhea-AI Filing Summary

Erasca, Inc. received Schedule 13G disclosures showing that Suvretta Capital Management, LLC and Aaron Cowen report beneficial ownership of 14,502,004 shares, equal to 5.1% of Erasca's common stock. Averill Master Fund, Ltd. reports 12,717,004 shares, or 4.5%. The filings show shared voting and dispositive power for those amounts and state the securities are held in the ordinary course of business and not to change or influence control. The document references Exhibits A and B and carries signatures dated 08/13/2025 with the report tied to the 06/30/2025 event.

Positive

• Suvretta Capital reports 14,502,004 shares (5.1% of Erasca common stock)
• Averill Master Fund reports 12,717,004 shares (4.5% of class)

Negative

• None.

Insights

Financial Analyst

TL;DR: Institutional positions disclosed — Suvretta and Aaron Cowen report a 5.1% passive stake; Averill holds 4.5%.

The filing quantifies ownership: Suvretta Capital Management and Aaron Cowen each report 14,502,004 shares (5.1%), while Averill Master Fund reports 12,717,004 shares (4.5%). All reported shares show shared voting and dispositive power. The statement is filed on Schedule 13G and includes a certification that the holdings are held in the ordinary course of business and not for the purpose of changing control, which signals passive investor status rather than an active control intent.

Corporate Governance Expert

TL;DR: Schedule 13G filing indicates passive ownership with shared voting power disclosed and explicit certification of no control intent.

The document identifies reporting persons, their places of organization, and precise share counts and percentages. Item 6 clarifies the Suvretta-reported securities are directly owned by advisory clients and that none of those clients individually exceed 5% of the class, while Suvretta as adviser reports the aggregate 5.1% position. The filing includes Exhibits A and B (joint filing agreement and control-person identification) and signatures by authorized signatories, reinforcing procedural completeness.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Erasca, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

29479A108

(CUSIP Number)

06/30/2025

(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

Suvretta Capital Management, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 14,502,004.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 14,502,004.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,502,004.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 29479A108

1

Names of Reporting Persons

Averill Master Fund, Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,717,004.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,717,004.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,717,004.00

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)

4.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 29479A108

1

Names of Reporting Persons

Aaron Cowen

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 14,502,004.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 14,502,004.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,502,004.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Erasca, Inc.
(b)	Address of issuer's principal executive offices: 3115 Merryfield Row, Suite 300, San Diego, CA 92121
Item 2.
(a)	Name of person filing: Suvretta Capital Management, LLC Averill Master Fund, Ltd. Aaron Cowen
(b)	Address or principal business office or, if none, residence: Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022 United States of America Averill Master Fund, Ltd. c/o Maples Corporate Services Limited P.O. Box 309 Ugland House Grand Cayman KY1-1104 Cayman Islands Aaron Cowen c/o Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022
(c)	Citizenship: Suvretta Capital Management, LLC - Delaware Averill Master Fund, Ltd. - Cayman Islands Aaron Cowen - United States
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(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: Suvretta Capital Management, LLC - 14,502,004 Averill Master Fund, Ltd. - 12,717,004 Aaron Cowen - 14,502,004
(b)	Percent of class: Suvretta Capital Management, LLC - 5.1% Averill Master Fund, Ltd. - 4.5% Aaron Cowen - 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0
	(ii) Shared power to vote or to direct the vote: Suvretta Capital Management, LLC - 14,502,004 Averill Master Fund, Ltd. - 12,717,004 Aaron Cowen - 14,502,004
	(iii) Sole power to dispose or to direct the disposition of: Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0
	(iv) Shared power to dispose or to direct the disposition of: Suvretta Capital Management, LLC - 14,502,004 Averill Master Fund, Ltd. - 12,717,004 Aaron Cowen - 14,502,004
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G Amendment No. 1 are directly owned by advisory clients of Suvretta Capital Management, LLC. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, $0.0001 par value per share.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
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.

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.

Suvretta Capital Management, LLC

Signature:	/s/ Andrew Nathanson
Name/Title:	Andrew Nathanson/General Counsel and Chief Compliance Officer
Date:	08/13/2025

Averill Master Fund, Ltd.

Signature:	/s/ Andrew Nathanson
Name/Title:	Andrew Nathanson/Authorized Signatory
Date:	08/13/2025

Aaron Cowen

Signature:	/s/ Aaron Cowen
Name/Title:	Aaron Cowen
Date:	08/13/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

[Exhibit A - Joint Filing Agreement] [Exhibit B - Control Person Identification]

FAQ

What stake did Suvretta Capital report in Erasca (ERAS)?

14,502,004 shares, representing 5.1% of Erasca's common stock according to the Schedule 13G.

What stake did Averill Master Fund report in Erasca (ERAS)?

12,717,004 shares, representing 4.5% of Erasca's common stock as disclosed in the filing.

Does the filing indicate an intent to influence control of Erasca?

No. The filing includes a certification stating the securities are held in the ordinary course of business and were not acquired to change or influence control.

Who are the reporting persons on the Schedule 13G for ERAS?

Suvretta Capital Management, LLC, Averill Master Fund, Ltd., and Aaron Cowen are listed as reporting persons.

What voting and dispositive power is reported?

The filing shows 0 sole voting/dispositive power and shared voting and shared dispositive power of 14,502,004 for Suvretta and Aaron Cowen and 12,717,004 for Averill.