Erasca, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies LLC, and Evercore Group L.L.C. to issue and sell 31,428,572 shares of common stock at a public offering price of $17.50 per share. The underwriters will purchase the shares from the company at $16.45 per share, and the company has granted a 30-day option for the underwriters to purchase an additional 4,714,285 shares. Net proceeds are expected to be approximately $516.0 million, or approximately $593.5 million if the option is exercised in full. Erasca, Inc. is a biotechnology company focused on developing oncology-related therapies.

Erasca, Inc. announced updated preliminary Phase 1 data for its pan-RAS molecular glue ERAS-0015 from the AURORAS-1 trial, showing a 57% uORR 8wk in KRAS G12X pancreatic ductal adenocarcinoma patients at a 32 mg QD dose. The company plans to initiate potentially registration-enabling trials in non-small-cell lung cancer in the first half of 2027 and Phase 3 pivotal trials in pancreatic ductal adenocarcinoma and RAS-mutant NSCLC in 2027 or 2028. Erasca, Inc. is a biotechnology company focused on the discovery and development of product candidates that shut down the RAS/MAPK pathway.