On November 12, 2026 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, reported business updates and announced financial results for the fiscal quarter ended September 30, 2026.
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"The emerging clinical profile of ERAS-0015 continues to support its potential as a foundational therapy across RAS-mutant cancers, both as a monotherapy and backbone for combination regimens," said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. "We are rapidly advancing toward three potentially registration-enabling trials in pancreatic and lung cancers. We are pleased that ERAS-0015 received Fast Track Designation for metastatic pancreatic cancer, which offers an opportunity for closer engagement with the FDA as we progress the program. With a strengthened balance sheet and experienced R&D leadership, we believe that we are positioned to execute our near-term milestones and advance programs addressing high unmet needs for patients with RAS-mutant cancers."
Research and Development (R&D) Highlights
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FDA Fast Track Designation for ERAS-0015: In August 2026, the U.S. Food and Drug Administration (FDA) granted Fast Track Designation (FTD) to ERAS-0015 for the treatment of patients with metastatic pancreatic adenocarcinoma. The designation is intended to facilitate development and expedite review of therapies for serious conditions with unmet medical needs and provides opportunities for more frequent FDA interactions as Erasca advances its planned Phase 3 trial in pancreatic cancer.
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Presentations at the 38th EORTC-NCI-AACR (Free EORTC-NCI-AACR Whitepaper) (ENA) Symposium: In September 2026, Erasca announced two presentations at the ENA Symposium, taking place November 18–20, 2026, in Barcelona, Spain. An oral plenary presentation will feature updated ERAS-0015 monotherapy data from the ongoing AURORAS-1 Phase 1 trial, including additional patients and longer follow-up. A poster presentation will feature nonclinical data for the combination of ERAS-0015 and ERAS-4001 targeting active and inactive KRAS, including synergy in KRAS G12X-driven models.
Corporate Highlights
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Strengthened R&D Leadership: In August 2026, Erasca appointed Charles Fuchs, M.D., M.P.H., as president of research and development, and David Chonzi, M.D., as senior vice president of global pharmacovigilance, both of whom joined Erasca’s leadership team.
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Completed Upsized Financing: In July 2026, Erasca completed a successful upsized public offering, raising approximately $632.5 million in gross proceeds.
Key Upcoming Milestones
AURORAS-1 to -3: Trials for ERAS-0015 (potential best-in-class pan-RAS molecular glue)
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Phase 1 monotherapy expansion data expected in the first half of 2027
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Phase 1 combination dose escalation data, including panitumumab combination, expected in the first half of 2027
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Potentially registration-enabling trial in second line or greater NSCLC expected to initiate in the first half of 2027
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Phase 3 pivotal trial in first line PDAC expected to initiate in 2027
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Phase 3 pivotal trial in RASm NSCLC expected to initiate in the second half of 2027 to the first half of 2028
BOREALIS-1: Phase 1 trial for ERAS-4001 (potential first-in-class pan-KRAS inhibitor)
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Preliminary safety, tolerability, pharmacokinetics, and initial efficacy Phase 1 monotherapy data expected in the second half of 2026
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Initiation of monotherapy expansion cohorts and combination dose escalation cohorts planned for 2027
Third Quarter 2026 Financial Results
Cash Position: Cash, cash equivalents, and marketable securities were $947.8 million as of September 30, 2026, compared to $341.8 million as of December 31, 2025. Erasca expects its current cash, cash equivalents, and marketable securities will be sufficient to fund the Key Upcoming Milestones set forth above in this press release.
Research and Development (R&D) Expenses: R&D expenses were $47.2 million for the quarter ended September 30, 2026, compared to $22.5 million for the quarter ended September 30, 2025. The increase was primarily driven by increases in expenses incurred in connection with clinical trials, preclinical studies, discovery activities, personnel costs, including stock-based compensation expense, outsourced services, and consulting fees.
General and Administrative (G&A) Expenses: G&A expenses were $12.3 million for the quarter ended September 30, 2026, compared to $10.1 million for the quarter ended September 30, 2025. The increase was primarily driven by personnel costs, including stock-based compensation expense.
Net Loss: Net loss was $51.3 million, or $(0.15) per basic and diluted share, for the quarter ended September 30, 2026, compared to $30.6 million, or $(0.11) per basic and diluted share, for the quarter ended September 30, 2025.
(Press release, Erasca, NOV 12, 2026, View Source [SID1234674673])