Erasca(US:ERAS)2025-05-13 20:10Business and R&D Highlights Erasca advanced its RAS-targeting franchise with new INDs and extended its cash runway into H2 2028 via strategic partnerships - The company's strategic focus on its RAS-targeting franchise and the decision to pursue partnerships for naporafenib has extended its projected cash runway to the second half of 202825 - The FDA cleared the Investigational New Drug (IND) application for ERAS-0015, a pan-RAS molecular glue, for patients with RAS-mutant solid tumors, with the AURORAS-1 Phase 1 trial evaluating its monotherapy3 - An IND application was submitted to the FDA for ERAS-4001, a pan-KRAS inhibitor, for patients with KRAS-mutant solid tumors, with the planned BOREALIS-1 Phase 1 trial assessing its monotherapy3 - New preclinical data presented at the 2025 AACR Annual Meeting reinforced the potential best-in-class profiles of the RAS-targeting franchise3 Key Upcoming Milestones Erasca expects initial Phase 1 monotherapy data for ERAS-0015 and ERAS-4001 in 2026 - Initial Phase 1 monotherapy data for the AURORAS-1 trial (ERAS-0015) in patients with RASm solid tumors is expected in 2026101 - Initial Phase 1 monotherapy data for the BOREALIS-1 trial (ERAS-4001) in patients with KRASm solid tumors is also expected in 2026101 First Quarter 2025 Financial Results Erasca reported a $411.1 million cash position, reduced operating expenses, and a lower net loss for Q1 2025 Financial Highlights | Financial Metric | Q1 2025 ($ millions) | Q1 2024 ($ millions) | | :--- | :--- | :--- | | Cash Position | $411.1 | N/A | | R&D Expenses | $26.0 | $28.6 | | G&A Expenses | $9.7 | $10.3 | | Net Loss | $31.0 | $35.0 | | Net Loss per Share | $(0.11) | $(0.23) | - The company's cash, cash equivalents, and marketable securities decreased from $440.5 million at the end of 2024 to $411.1 million as of March 31, 20256 - The decrease in R&D expenses was primarily due to lower personnel costs, clinical trial expenses, and preclinical activities7 - The decrease in G&A expenses was mainly driven by reduced legal fees and insurance costs8 Financial Statements This section presents Erasca's unaudited condensed consolidated financial statements for Q1 2025 Selected Condensed Consolidated Balance Sheet Data | Balance Sheet Data (In thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $411,077 | $440,473 | | Working capital | $289,146 | $277,398 | | Total assets | $471,244 | $502,526 | | Accumulated deficit | $(798,629) | $(767,663) | | Total stockholders' equity | $399,502 | $423,499 | Condensed Consolidated Statements of Operations and Comprehensive Loss | (In thousands, except per share amounts) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Research and development | $25,969 | $28,574 | | General and administrative | $9,661 | $10,277 | | Total operating expenses | $35,630 | $38,851 | | Loss from operations | $(35,630) | $(38,851) | | Interest income | $4,740 | $3,900 | | Net loss | $(30,966) | $(35,017) | | Net loss per share, basic and diluted | $(0.11) | $(0.23) |