Erasca
Develops pan-RAS and pan-KRAS therapies for RAS/MAPK-driven solid tumors.
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Profile
Develops clinical-stage precision oncology drugs for RAS/MAPK-driven cancers, led by pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001. With no approved products or product revenue, operations depend on clinical results, regulatory approval, external licenses, manufacturers, and financing.
Develops precision oncology therapies aimed at cancers driven by the RAS/MAPK signaling pathway. The clinical pipeline centers on ERAS-0015, a pan-RAS molecular glue tested alone and with other cancer medicines, and ERAS-4001, a pan-KRAS inhibitor; both are in Phase 1 trials for RAS- or KRAS-mutant solid tumors. ERAS-12, an EGFR-targeting antibody, remains in discovery.
Concentrates resources on the RAS franchise after ending development of naporafenib, and advances programs through trials in the United States while its ERAS-0015 licensor conducts a separate study in China. No product is approved and the business has generated no product revenue. Progress depends on clinical results, regulatory clearance, continued financing, third-party trial and manufacturing providers, and licenses covering its two clinical candidates.
Company facts
Key statistics
Year to date +402% · Average volume (30d) 3.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Guggenheim | Reiterate | Buy | $12 | $21 | |
| Aug 12, 2026 | H.C. Wainwright | Reiterate | Buy | $22 | ||
| Jul 20, 2026 | Morgan Stanley | Reiterate | Equal Weight | $10 | $21 | |
| Jul 14, 2026 | Jefferies | Reiterate | Buy | $6 | $24 | |
| Jul 14, 2026 | HSBC | Target | $20 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q2 FY26 | −$0.11 | −$0.14 | −25.7% | — | — | — | −3.88% |
| Aug 11, 2026Q2 FY26 | −$0.11 | −$0.14 | −25.7% | — | — | — | +1.47% |
| May 11, 2026Q1 FY26 | −$0.12 | −$0.11 | +4.7% | — | — | — | −0.57% |
| Mar 12, 2026Q4 FY25 | −$0.11 | −$0.10 | +9.1% | — | — | — | −7.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | −$743.0K | −$723.0K | $0 | |
| Operating income | −$35.6M | −$38.1M | −$34.5M | −$32.6M | −$37.9M | −$47.6M | |
| Net income | −$31.0M | −$33.9M | −$30.6M | −$29.1M | −$183.4M | −$44.1M | |
| Diluted EPS | −$0.11 | −$0.12 | −$0.11 | −$0.10 | −$0.60 | −$0.14 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $268.7M · Total debt $44.7M · Total assets $435.1M · Shareholders' equity $361.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 347.13M · Float 222.52M · 64.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | 24.98M | 7.19% | 13F | Aug 14, 2026 |
| T. Rowe Price Investment Management, Inc. | 21.19M | 6.10% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 21.15M | 6.09% | 13F | Aug 7, 2026 |
| RTW Investments, LP | 17.95M | 5.17% | 13F | Aug 14, 2026 |
| VR Adviser, LLC | 17.89M | 5.15% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 1, 2026 | Ebun Garner | officer: Chief Legal Officer | −80,000 | $16.40 |
| Mar 4, 2026 | Shannon Morris | officer: Chief Medical Officer | −20,000 | $15.04 |
| Jan 7, 2026 | Ebun Garner | officer: General Counsel & Corp. Sec. | −120,000 | $5.59 |
Peers
- Revolution Medicines
Late-stage RAS(ON) inhibitor portfolio with pivotal Phase 3 data in PDAC
- Amgen
First approved KRAS G12C franchise; sotorasib in NSCLC and mCRC combos
- Bristol-Myers Squibb
Adagrasib (KRAZATI) approved for KRAS G12C NSCLC and CRC; Phase 3 ongoing
- Eli Lilly
Phase 3 KRAS G12C (olomorasib) plus pan-KRAS and G12D inhibitors in Phase 1
- Verastem
Dual RAF/MEK inhibitor approved in LGSOC; KRAS G12D inhibitor in Phase 2 trials
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Erasca | $18.10 | +0.36% | $6.26B | — | — | — | — |
| Revolution Medicines | $208.55 | +0.23% | $44.19B | — | — | — | — |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Verastem | $7.16 | −1.01% | $634.4M | — | — | 7.2 | +1,775.4% |
| Median | 26.9 | 18.4 | 6.7 | +28.7% |