What's Going With Cancer Biotech Erasca Stock On Thursday?

Group 1 - Erasca Inc. shares experienced a significant increase of nearly 60% to $6.12, followed by a decline to $4.33 the next day [1] - The rise in Erasca's stock price was influenced by rumors of AbbVie Inc. being in advanced talks to acquire Revolution Medicines, which has a market cap of approximately $19 billion, compared to Erasca's market cap of around $1.5 billion [2] - Revolution Medicines is focused on developing targeted therapies for RAS-addicted cancers, with a pipeline that includes RAS(ON) inhibitors [3] Group 2 - Erasca is a clinical-stage precision oncology company targeting RAS/MAPK pathway-driven cancers and is conducting two Phase 1 trials with its lead drug ERAS-0015 [4] - Initial data from Erasca's trials is expected in 2026, indicating ongoing development in the oncology sector [4] - The acquisition of Revolution Medicines by AbbVie would enhance its position in the global cancer drug market, which exceeds $250 billion [4]