Erasca (NasdaqGS:ERAS) 2025 Conference November 19, 2025 05:30 AM ET Company ParticipantsDavid Chacko - CFO and Chief Business OfficerConference Call ParticipantsMaury Raycroft - Biotech AnalystMaury RaycroftHi, everyone. My name is Maury Raycroft, and I'm one of the biotech analysts at Jefferies. I'd like to welcome David Chacko, the CFO and CBO of Erasca. Thanks so much for joining us today in London.David ChackoThank you. Thanks, Maury, for having us here.Maury RaycroftWe're going to do a fireside chat f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission File Number: 001-40602 ERASCA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 83-1217027 (S ...

Exhibit 99.1 Erasca Reports Third Quarter 2025 Business Updates and Financial Results U.S. composition of matter patent protection through 2043 for potential best-in-class pan-RAS molecular glue ERAS-0015 Strengthened scientific leadership with promotion of Robert Shoemaker, Ph.D., to chief scientific officer Initial Phase 1 monotherapy data for ERAS-0015 and pan-KRAS inhibitor ERAS-4001 expected in 2026 Robust balance sheet with cash, cash equivalents, and marketable securities of $362 million as of Septem ...

Core Insights - Erasca, Inc. has received U.S. patent protection for its pan-RAS molecular glue ERAS-0015, which is expected to last until September 2043, enhancing its intellectual property portfolio [2][3] - The company has promoted Robert Shoemaker, Ph.D., to chief scientific officer, strengthening its scientific leadership [2][4] - Initial Phase 1 monotherapy data for both ERAS-0015 and the pan-KRAS inhibitor ERAS-4001 is anticipated in 2026 [2][7] Research and Development Highlights - The U.S. Patent and Trademark Office issued patent No. 12,458,647 for ERAS-0015, covering its composition of matter until September 2043 [3] - The clinical development of ERAS-0015 and ERAS-4001 is progressing, with initial data expected in 2026 [2][7] Corporate Highlights - Robert Shoemaker, Ph.D., has been promoted to chief scientific officer, a role in which he will continue to influence the company's research strategy [2][4] Financial Results - As of September 30, 2025, Erasca reported cash, cash equivalents, and marketable securities totaling $362.4 million, down from $440.5 million at the end of 2024, which is expected to fund operations into the second half of 2028 [6][12] - Research and development expenses for Q3 2025 were $22.5 million, a decrease from $27.6 million in Q3 2024, primarily due to reduced clinical trial and discovery activity costs [7][8] - General and administrative expenses increased to $10.1 million in Q3 2025 from $9.6 million in Q3 2024, driven by higher legal fees and personnel costs [8] - The net loss for Q3 2025 was $30.6 million, or $(0.11) per share, compared to a net loss of $31.2 million, or $(0.11) per share, in Q3 2024 [9][13]

Summary of Erasca Conference Call Company Overview - **Company**: Erasca (NasdaqGS:ERAS) - **Founded**: 2018 by Jonathan Lim and Kevan Shokat - **Focus**: Development of pan-RAS and pan-KRAS therapies targeting RAS MAP kinase pathway [1][2][3] Key Points Product Development - **Pan-RAS Asset**: ERAS-0015, in-licensed from Joyo in May 2024, is one of only two pan-RAS therapies in clinical trials in the U.S. [4][5] - **Patent**: Received a U.S. patent for ERAS-0015 covering the composition of matter until 2043, confirming strong IP position [10] - **Mechanism of Action**: ERAS-0015 binds to cyclophilin A, forming a bipartite compound that interacts with RAS protein, leading to a tripartite complex [11][12] - **Comparative Advantage**: ERAS-0015 has a 20-fold better binding affinity to cyclophilin A, resulting in 4-5x better in vitro potency and comparable anti-tumor activity at one-tenth the dose compared to competitors [12][15] Clinical Trials - **Ongoing Studies**: Phase I trials for both ERAS-0015 (pan-RAS) and ERAS-4001 (pan-KRAS) initiated with data expected in 2026 [22][23] - **Patient Population**: Targeting patients with RAS and KRAS mutations in solid tumors, with a focus on major cancers like pancreatic, colorectal, and lung [24][25] - **Collaboration with Joyo**: Joyo is conducting a Phase 1 study in China, allowing for shared learnings between the U.S. and China [18][20] Market Position and Strategy - **Unmet Need**: 2.7 million patients diagnosed annually with RAS mutant tumors, indicating a significant market opportunity [13][14] - **Competitive Landscape**: Currently, Erasca and Revolution Medicines are the primary players in the pan-RAS space, with potential for both to coexist due to high unmet needs [14][32] - **Combination Therapies**: Exploring combinations with standard care agents and investigational drugs, recognizing the importance of combination strategies in oncology [32][34] Financial Position - **Cash Runway**: As of Q2, Erasca had $387 million in cash, extending its runway to the second half of 2028, allowing for aggressive clinical development plans [30][31] - **Partnership Opportunities**: Open to partnerships to expedite drug development and address unmet patient needs [34] Future Outlook - **Data Presentation**: Plans to present data in a way that tells a comprehensive story about the efficacy and safety of their assets, potentially at medical meetings [51][53] - **Durability Data**: While initial data may not include durability, showing anti-tumor activity at lower doses compared to competitors would be a significant win [55][56] Additional Insights - **Therapeutic Window**: Anticipates a better therapeutic profile for ERAS-0015 compared to competitors, potentially leading to fewer adverse effects [15][16] - **Long Tail Opportunities**: Beyond major cancers, there are numerous other indications with significant patient populations that could be explored [25][30] - **Naporafenib Program**: Ongoing discussions for partnerships related to this pan-RAF inhibitor, which could provide additional cash runway if successful [39]

Summary of Erasca FY Conference Call Company Overview - **Company**: Erasca (NasdaqGS:ERAS) - **Industry**: Precision Oncology - **Focus**: Eradicating RAS-driven cancers with two primary RAS inhibitors, 4001 (pan-KRAS) and 0015 (pan-RAS) [4][5] Key Points and Arguments Pipeline and Strategy - Erasca has streamlined its pipeline to focus on two RAS inhibitors that recently entered phase one clinical studies [3][4] - The company aims to address the high unmet need in RAS mutant tumors, with approximately 2.7 million patients diagnosed globally each year [4][5] Competitive Landscape - The pan-RAS space is relatively uncrowded, with Erasca positioned as a strong competitor behind Revolution Medicines [5][6] - The pan-KRAS space is becoming more crowded, but no clinical data has been disclosed yet, allowing Erasca to potentially lead with its data [6][20] Differentiation of 0015 (pan-RAS Inhibitor) - 0015 shows significant preclinical differentiation, binding to cyclophilin A with 8- to 20-fold greater affinity compared to competitors, leading to 4- to 5-fold more potency in vitro [8][9] - Better pharmacokinetics (PK) and anti-tumor activity observed, with a lower required dose to achieve comparable effects [9][10] - Broad applicability across various tumor types, particularly colorectal cancer (CRC), pancreatic cancer (panc), and non-small cell lung cancer [12][27] Safety and Efficacy Considerations - Anticipation of on-target adverse events (AEs) such as rash, similar to competitors, but with strategies in place to manage these AEs effectively [13][14] - Lower clinically active doses may enhance combinability with other agents, potentially improving treatment outcomes [16][35] Differentiation of 4001 (pan-KRAS Inhibitor) - 4001 has shown good in vitro potency against key KRAS mutations and favorable PK properties [18][19] - Unique scaffold design may provide an advantage over other pan-KRAS inhibitors that share similar structures [20][23] Future Development and Clinical Trials - Both 0015 and 4001 are in phase I studies, with data expected in 2026 [26][30] - The company plans to explore dose expansion cohorts based on initial trial results [31] - Potential for combination therapies with standard care agents, particularly in CRC [36][39] Market Positioning - If Erasca's programs demonstrate comparable efficacy at lower doses than competitors, it could open up significant market opportunities, including first-line treatments in various cancers [32][33] - The company is prepared to adapt its strategy based on clinical data outcomes, with a focus on maximizing the potential of both pan-RAS and pan-KRAS inhibitors [24][38] Additional Important Insights - The company emphasizes a data-driven approach to future combinations and treatment strategies, leveraging its history of successful partnerships [39] - The competitive landscape is evolving, with potential implications for market share depending on the efficacy and safety profiles of Erasca's products compared to existing therapies [32][34]

Core Insights - The U.S. Patent and Trademark Office has issued Patent No. 12,458,647 for ERAS-0015, providing intellectual property protection until at least 2043, which may be extended further [1][2] - Initial Phase 1 monotherapy data for ERAS-0015 and pan-KRAS inhibitor ERAS-4001 are expected in 2026 [1][2] Summary by Sections ERAS-0015 - ERAS-0015 is an oral, highly potent pan-RAS molecular glue designed to inhibit RAS signaling, showing 8-21 times higher binding affinity to cyclophilin A compared to the most advanced competitor [3] - It exhibits approximately 5 times greater potency in RAS inhibition and demonstrates superior in vivo antitumor activity at lower doses [3] - The drug is currently being evaluated in the AURORAS-1 Phase 1 trial for patients with RAS-mutant solid tumors [3] ERAS-4001 - ERAS-4001 is an oral, highly potent, and selective pan-KRAS inhibitor with a promising profile against KRAS G12X mutations and wildtype amplifications [4] - It has shown potent activity against both active and inactive states of KRAS with single-digit nanomolar IC50s and induced tumor regression in multiple KRAS-mutant models [4] - The drug is being evaluated in the BOREALIS-1 Phase 1 trial for patients with KRAS-mutant solid tumors [4] Company Overview - Erasca is a clinical-stage precision oncology company focused on developing therapies for RAS/MAPK pathway-driven cancers, co-founded by pioneers in precision oncology [5] - The company aims to create novel therapies and combination regimens to comprehensively target the RAS/MAPK pathway [5]

Core Insights - Erasca, Inc. is a clinical-stage precision oncology company focused on therapies for RAS/MAPK pathway-driven cancers [3] - The company will participate in several investor conferences in November 2025, including the Guggenheim 2nd Annual Healthcare Innovation Conference, Stifel 2025 Healthcare Conference, and Jefferies Global Healthcare Conference [1][2] Company Overview - Erasca aims to "erase cancer" by discovering, developing, and commercializing therapies specifically targeting RAS/MAPK pathway-driven cancers [3] - The company was co-founded by pioneers in precision oncology and RAS targeting, emphasizing the development of novel therapies and combination regimens [3] - Erasca's scientific advisory board includes leading experts in the RAS/MAPK pathway, enhancing the company's capabilities in achieving its mission [3] Upcoming Events - The company will engage in a fireside chat at the Guggenheim 2nd Annual Healthcare Innovation Conference on November 11, 2025, at 2:00 pm Eastern Time [2] - At the Stifel 2025 Healthcare Conference, Erasca will participate in a fireside chat on November 12, 2025, at 1:20 pm Eastern Time [2] - The Jefferies Global Healthcare Conference will feature Erasca in a fireside chat on November 19, 2025, at 10:30 am Greenwich Mean Time [2] - Live audio webcasts of these events will be available on Erasca's website, with archived replays accessible for 30 days post-event [2]

Core Insights - The year 2025 has seen significant advancements for companies targeting the RAS/MAPK signaling pathway in cancer treatment [1] Company and Industry Summary - Companies are exploring new possibilities in the RAS/MAPK signaling pathway, indicating a growing interest and investment in cancer research and treatment [1]

Market Overview - U.S. stock futures showed mixed results, with Dow futures declining approximately 0.1% [1] Company-Specific Movements - Fidus Investment Corp (NASDAQ:FDUS) experienced a significant drop of 2.6%, trading at $19.80 in pre-market after announcing a $100 million public offering of 6.750% notes due 2030 [1] - Bolt Biotherapeutics Inc (NASDAQ:BOLT) shares fell sharply by 13.4% to $4.90 following an update on BDC-4182 and an extension of its cash runway into 2027 [3] - Equifax Inc (NYSE:EFX) saw a decline of 10.9%, trading at $226.00, after Seaport Global initiated coverage with a Neutral rating [3] - TransUnion (NYSE:TRU) shares dropped 8.8% to $75.00, also receiving a Neutral rating from Seaport Global [3] - Lithium Americas Corp (NYSE:LAC) fell 5% to $6.69 after a previous increase of 23% on Wednesday [3] - Erasca Inc (NASDAQ:ERAS) shares decreased by 3.2% to $2.14 in pre-market trading [3] - Petco Health and Wellness Company Inc (NASDAQ:WOOF) declined 3.1% to $3.79 [3] - Rocket Companies Inc (NYSE:RKT) slipped 3.1% to $18.99, with Western Union set to replace Mr. Cooper Group Inc. in the S&P SmallCap 600 effective prior to trading on October 6 [3]