After reaching an important support level, Erasca, Inc. (ERAS) could be a good stock pick from a technical perspective. ERAS recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average. There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving av ...

SAN DIEGO, May 21, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced the closing of an oversubscribed underwritten offering of 99,459,458 shares of its common stock, at a price of $1.85 per share, which includes the exercise in full by the underwriters of their option to purchase 12,972,972 additional shares. All of th ...

At Erasca, our name is our mission: To erase cancer. We are a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Our company was co-founded by leading pioneers in precision oncology and RAS targeting to create novel therapies and combination regimens designed to comprehensively shut down the RAS/MAPK pathway for the treatment of patients with cancer. We have assembled one of the deepest RAS ...

Pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001 are potent, oral inhibitors with potential best-in-class profiles in RASm solid tumors Pipeline prioritization and workforce restructuring sharpens focus on programs targeting the highest unmet needs and with highest probability of success Priced concurrent $160 million equity offering Erasca to host conference call and webcast Friday, May 17, 2024 at 8:30 am ET SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinic ...

Core Insights - Erasca, Inc. has announced the in-licensing of two promising RAS-targeting drug candidates, ERAS-0015 and ERAS-4001, which are expected to address significant unmet medical needs in RAS-mutant solid tumors [1][3] - The company has also priced a concurrent equity offering of $160 million to support its strategic initiatives [2] Pipeline and Product Development - ERAS-0015 is a pan-RAS molecular glue that has shown 5- to 10-fold greater potency in preclinical studies compared to existing therapies, with favorable pharmacokinetic properties [4] - ERAS-4001 is a selective pan-KRAS inhibitor that aims to improve therapeutic outcomes by preventing resistance associated with KRAS wildtype [5] - The licensing agreements for these programs involve upfront payments of $12.5 million for ERAS-0015 and $10 million for ERAS-4001, along with potential milestone payments totaling $176.5 million and $160 million respectively [4][5] Strategic Focus and Workforce Changes - The company is restructuring its pipeline to prioritize programs with the highest probability of success, leading to the deprioritization of other projects such as ERAS-007, ERAS-801, and ERAS-4 [3][6] - This strategic shift will result in an approximate 18% reduction in workforce, primarily affecting employees involved in deprioritized programs [8] Upcoming Milestones - Key upcoming milestones include the IND filing for ERAS-0015 expected in H1 2025 and for ERAS-4001 expected in Q1 2025, with initial Phase 1 data anticipated in 2026 [8]

SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced the pricing of an underwritten offering of 86,486,486 shares of its common stock at a price of $1.85 per share. All of the shares to be sold in the offering are to be sold by Erasca. The gross proceeds to Erasca from the offering, before deducting the ...

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 March 31, 2024 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 (State ...

Financial Performance - The net loss for Q1 2024 was $35.0 million, or $(0.23) per share, compared to a net loss of $33.2 million, or $(0.22) per share, in Q1 2023[10]. - Total operating expenses for Q1 2024 were $38.9 million, compared to $37.0 million in Q1 2023[17]. - General and administrative expenses rose to $10.3 million in Q1 2024 from $9.4 million in Q1 2023, driven by increased legal fees and personnel costs[8]. - R&D expenses for Q1 2024 were $28.6 million, an increase from $27.6 million in Q1 2023, primarily due to higher clinical trial costs[7]. - The accumulated deficit as of March 31, 2024, was $641.0 million, up from $606.0 million at the end of 2023[16]. Funding and Cash Position - Erasca's pro forma cash, cash equivalents, and marketable securities are expected to be $334 million, which will fund operations into the second half of 2026[6]. - Erasca secured $45 million in private placement financing from high-quality investors, extending its cash runway into the second half of 2026[9]. Clinical Trials and Research - The company plans to initiate the pivotal SEACRAFT-2 trial evaluating naporafenib in Q2 2024, with a randomized readout expected in 2025[2]. - Initial Phase 1b combination data for SEACRAFT-1 is anticipated between Q2 and Q4 2024[9]. - The median overall survival (mOS) for naporafenib plus trametinib in patients with NRAS-mutant melanoma is reported as 13.0 to 14.1 months in a pooled analysis[3].

Erasca, Inc. (ERAS) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of ...

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