On March 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 and full year ended December 31, 2025.

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"Our RAS-targeting franchise continues to advance rapidly in the clinic, reflecting our strong operational execution and high investigator and patient enthusiasm," said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. "Importantly, the best-in-class potential of our pan-RAS molecular glue ERAS-0015 was underscored by ongoing partial responses at a low dose of 8 mg QD across multiple tumor types and RAS mutations, together with favorable safety and pharmacokinetics (PK) data, as of the data cutoff*. This clinical progress and the successful upsized public offering heighten excitement in our RAS-targeting franchise and strengthen our financial position as we further advance clinical development."

Dr. Lim continued, "In 2026, we expect additional Phase 1 data for ERAS-0015 in the first half of the year, as well as initial data for our pan-KRAS inhibitor ERAS-4001 in the second half of the year. Our focus continues to be on streamlined execution across our clinical programs, and with our recent capital infusion, we believe that we are strongly positioned to drive our RAS-targeting franchise for the benefit of patients."

Research and Development (R&D) Highlights

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Announced Promising Early Clinical Data for ERAS-0015: In January 2026, Erasca announced promising early clinical activity for ERAS-0015 during dose escalation, including confirmed partial responses in multiple tumor types with different RAS mutations, favorable safety and tolerability data, with no dose-limiting toxicities and predominantly low-grade adverse events and encouraging safety and well-behaved, linear PK.*

* Data cutoff date was January 7, 2026

Corporate Highlights

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Expanded License Agreement Territory for ERAS-0015: In March 2026, Erasca announced the expansion of its existing licensing agreement with Joyo Pharmatech Co., Ltd. (Joyo) to include China, Hong Kong, and Macau, providing Erasca with worldwide rights to its potential best-in-class pan-RAS molecular glue ERAS-0015.

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Completed Upsized Financing: In January 2026, Erasca completed a successful upsized public offering, raising approximately $258.8 million in gross proceeds. The transaction, supported by new and existing healthcare-focused investors, significantly strengthened Erasca’s balance sheet.

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Composition of Matter Patents Issued in the U.S. for RAS-Targeting Franchise: Erasca announced that the U.S. Patent and Trademark Office issued patents for its RAS-Targeting Franchise
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U.S. patent No. 12,552,813 titled "Heterocyclic Substituted Pyrimidopyran Compound And Use Thereof," was issued in February 2026, which protects the composition of matter of ERAS-4001 and related compositions until June 2043, which period may be subject to patent term adjustments or extensions
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U.S. patent No. 12,458,647 titled "Macrocyclic Derivative And Use Thereof," was issued in October 2025, which protects the composition of matter of ERAS-0015 and related compositions until September 2043, which period may be subject to patent term adjustments or extensions

Key Upcoming Milestones

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AURORAS-1 and JYP0015M101**:Phase 1 trials for ERAS-0015 (pan-RAS molecular glue) in patients with RAS-mutant solid tumors in the US and China, respectively
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Phase 1 monotherapy data from both the US and China expected in the first half of 2026
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Initiation of AURORAS-1 monotherapy expansion cohorts and combination dose escalation cohort planned for the second half of 2026
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AURORAS-1 monotherapy expansion data and combination dose escalation data planned for 2027
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BOREALIS-1:Phase 1 trial for ERAS-4001 (pan-KRAS inhibitor) in patients with KRAS-mutant solid tumors
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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

** JYP0015M101 is a clinical trial in China sponsored by Joyo that is assessing ERAS-0015 in adult patients with advanced solid tumors harboring specific RAS mutations.

Fourth Quarter and Full Year 2025 Financial Results

Cash Position: Cash, cash equivalents, and marketable securities were $341.8 million as of December 31, 2025, compared to $440.5 million as of December 31, 2024. Erasca expects its current cash, cash equivalents, and marketable securities (inclusive of the net proceeds received from the January 2026 underwritten offering and net of the payment to Joyo in connection with the exercise of the option to obtain worldwide rights) to fund operations into the second half of 2028.

Research and Development (R&D) Expenses: R&D expenses were $23.2 million for the quarter ended December 31, 2025, compared to $26.1 million for the quarter ended December 31, 2024. The decrease was primarily driven by decreases in expenses incurred in connection with clinical trials, preclinical studies, discovery activities, outsourced services, and consulting fees. R&D expenses were $92.9 million for the full year ended December 31, 2025, compared to $115.4 million for the full year ended December 31, 2024. Erasca also recorded $9.5 million of in-process R&D expense during the year ended December 31, 2025 for the achievement of milestones under Erasca’s ERAS-0015 and ERAS-4001 license agreements and $22.5 million of in-process R&D expense during the year ended December 31, 2024 for upfront payments under Erasca’s ERAS-0015 and ERAS-4001 license agreements.

General and Administrative (G&A) Expenses: G&A expenses were $9.4 million for the quarter ended December 31, 2025, compared to $9.6 million for the quarter ended December 31, 2024. The decrease was primarily driven by a decrease in legal fees. G&A expenses were $38.6 million for the full year ended December 31, 2025, compared to $41.7 million for the full year ended December 31, 2024.

Net Loss: Net loss was $29.1 million, or $(0.10) per basic and diluted share, for the quarter ended December 31, 2025, compared to $32.2 million, or $(0.11) per basic and diluted share, for the quarter ended December 31, 2024. For the full year ended December 31, 2025, Erasca reported a net loss of $124.5 million, or $(0.44) per basic and diluted share, compared to a net loss of $161.7 million, or $(0.69) per basic and diluted share, for the full year ended December 31, 2024.

(Press release, Erasca, MAR 12, 2026, View Source [SID1234663496])

On March 12, 2026 Earendil Labs, a global leader in AI-driven research and development of next-generation biologics therapeutics, and WuXi Biologics (2269.HK), a global leading Contract Research, Development and Manufacturing Organization (CRDMO), reported the signing of a strategic collaboration agreement on the development and manufacturing of multiple novel bispecific and multispecific antibodies and ADC candidates in Earendil Labs’ pipeline targeting autoimmune disease, cancer, and other diseases.

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Under the agreement, WuXi Biologics will provide end-to-end biologics development and manufacturing services, including cell line development, process and bioassay development, drug product formulation development, and GMP manufacturing. The collaboration is designed to accelerate regulatory timelines, enhance CMC execution reliability, and support scalable global clinical development across Earendil Labs’ programs.

WuXi Biologics has built a strong track record in developing complex biologics, particularly its technology strengths in bispecific and multispecific antibodies and ADCs. By 2025, a total of 945 projects were advancing on the company’s integrated CRDMO platform, with bispecific and multispecific antibodies representing one of the fastest‑expanding categories. Leveraging next‑generation technology platforms such as the WuXia TrueSite targeted‑integration CHO cell line platform and the WuXiHigh high‑throughput formulation platform—together with expanded capabilities for high‑dose and subcutaneous delivery, including the Hyaluronidase Co‑Formulation platform and large‑volume device solutions—the company provides development pathways designed to increase efficiency, strengthen product consistency, and enable seamless scale‑up from early research through commercial manufacturing.

Jian Peng, PhD, CEO of Earendil Labs, said: "Partnering with WuXi Biologics enables us to advance our pipeline with greater speed, precision, and CMC excellence. By integrating Earendil Labs’ AI-driven protein‑engineering capabilities with WuXi Biologics’ deep expertise in complex biologics as well as its proven end‑to‑end development and manufacturing capabilities, we can more efficiently advance our pipeline toward clinical milestones to deliver meaningful clinical benefit and transform patient treatment."

Zhenping Zhu, MD, PhD, President & co-CEO of Earendil Labs, added: "Earendil Labs has built a robust and highly competitive pipeline within the past three years. This partnership with WuXi Biologics strengthens our ability to translate AI-driven innovation into high-quality clinical and commercial assets. WuXi Biologics’ proven expertise in complex biologics and global development makes them a strong strategic partner as we build a differentiated, multi-asset therapeutic pipeline for the treatment of various human diseases."

Chris Chen, PhD, CEO of WuXi Biologics, commented, "We are delighted to enter this strategic collaboration with Earendil Labs, a company distinguished by its strong scientific leadership and innovative approach to advancing next‑generation immunotherapies. By leveraging our proven expertise across complex biologics—including bispecific and multispecific antibodies as well as ADCs—and our industry‑leading technology platforms across drug research, development and manufacturing, we aim to accelerate the advancement of Earendil Labs’ innovative pipeline. Through this collaboration, we are poised to accelerate development, ensure robust and scalable manufacturing, and ultimately bring transformative therapies to patients worldwide."

(Press release, Earendil Labs, MAR 12, 2026, View Source [SID1234663515])

On March 12, 2026 IMPACT-AML reported that it has entered into an agreement with SELLAS Life Sciences Group, a late-stage clinical biopharmaceutical company focused on developing novel therapies for a broad range of cancer indications. Under the agreement, the IMPACT-AML network will conduct a clinical study evaluating SLS009, a highly selective CDK9 inhibitor, enabling access to multiple European clinical sites and patients.

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IMPACT-AML is a pan-European project that builds an inclusive clinical network, the STREAM platform, connecting patients, clinicians and researchers to test novel AML therapies and improve patient outcomes. It is part of the EU Mission on Cancer programme and represents a high-level scientific collaboration. The project is led by a consortium of major European research and clinical institutions, including IRCCS Istituto Romagnolo per lo Studio dei Tumori "Dino Amadori" (IRST), the University of Bologna, IIS La Fe (Health Research Institute Hospital La Fe), several European AML collaborative groups, and supranational organisations under the umbrella of the European LeukemiaNet (ELN), as well as multiple university hospitals across Europe. By leveraging IMPACT-AML’s existing infrastructure and expertise, SELLAS expects to expand European patient access to SLS009 in a cost-efficient manner while supporting broader participation across the clinical programme.

"This is a highly meaningful milestone for SELLAS and for the SLS009 programme," said Angelos Stergiou, M.D., Sc.D., President and Chief Executive Officer of SELLAS. "Gaining access to the IMPACT-AML framework represents strong external validation of SLS009 and reflects growing recognition of its potential to address critical unmet needs in AML. Importantly, this collaboration allows us to expand our clinical programme into Europe efficiently by leveraging an established infrastructure, improving capital efficiency while supporting broader and faster patient enrolment as we advance into frontline AML".

The collaboration is expected to support continued execution of the SLS009 clinical programme as SELLAS advances into frontline AML. The European study is planned to enrol approximately 40 patients to evaluate SLS009 in combination with azacitidine and venetoclax (AZA/VEN) in patients with newly diagnosed AML with high-risk features. Enrolment in the first part of the trial for newly diagnosed patients is expected to begin at US sites in Q1 2026, followed by initiation at European sites in Q2 2026, subject to regulatory approval and site readiness.

"IMPACT-AML is committed to accelerating access to promising new therapeutic approaches for patients with AML who face limited treatment options," said IMPACT-AML Scientific Coordinator Dr Giovanni Martinelli. "We are pleased to collaborate with SELLAS and support the evaluation of SLS009 within our European network, in line with our mission to facilitate efficient, high-quality clinical research in AML."

(Press release, IMPACT-AML, MAR 12, 2026, View Source [SID1234663497])

On March 12, 2026 Whitehawk Therapeutics, Inc. (Nasdaq: WHWK), a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved antibody drug conjugate (ADC) cancer treatments, reported financial results for the fourth quarter and full-year ended December 31, 2025, and provided recent corporate highlights.

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"Last year marked our evolution into Whitehawk Therapeutics, a boldly pragmatic company developing the next generation of ADC cancer treatments. We progressed three programs through IND-enabling work in tandem, while building the capabilities required to execute efficiently in the clinic as we enter 2026," said Dave Lennon, PhD, President and CEO of Whitehawk Therapeutics. "Whitehawk combines established but underexploited tumor targets with a differentiated ADC platform. With two active Phase 1 studies for HWK-007 and HWK-016, and a third IND submission for HWK-206 planned mid-year, we are energized by the opportunity to translate our strategy into clinical data with the potential to have a meaningful impact for patients."

Q4 2025 and Recent Operational Highlights:

Advanced development of PTK7-targeted HWK-007 and MUC16-targeted HWK-016 into Phase 1. In January, Whitehawk announced regulatory progress for these programs, which are both now actively recruiting Phase 1 trials.
The HWK-007 Phase 1 trial will initially evaluate activity in lung and ovarian cancers, two PTK7-expressing tumor types with established precedent data, as well as endometrial cancer, one of the highest PTK7-expressing tumor types.
The HWK-016 Phase 1 trial will initially evaluate activity in two high MUC16-expressing gynecologic cancers, ovarian and endometrial.

Strengthened management with new CMO. In December 2025, Whitehawk appointed Margaret Dugan, MD, as Chief Medical Officer (CMO). Dr. Dugan brings more than 30 years of global oncology drug development experience, with extensive expertise in early-stage clinical development and regulatory strategy.

Presented real-world analysis confirming PTK7 as a broadly expressed, clinically relevant target across solid tumors. Whitehawk presented data at the AACR (Free AACR Whitepaper)-NCI-EORTC meeting that established PTK7 as the third most highly expressed tumor marker among clinically validated and emerging ADC targets, present in ~70% of tumors. We believe these findings support the potential of PTK7 as a pan-tumor target.
Fourth Quarter and Full Year 2025 Financial Results:

Cash, cash equivalents and short-term investments as of December 31, 2025, were $145.7 million as compared to $47.2 million as of December 31, 2024. Cash is anticipated to fund operations into 2028 based on current plans.

Net loss for the three months ended December 31, 2025, was $23.3 million as compared to $18.3 million for the three months ended December 31, 2024. Net loss for the full-year ended December 31, 2025, was $20.6 million, as compared to $63.7 million for the same period in 2024. The full-year net loss includes an $87.3 million gain on the divestiture of AADI Subsidiary.
Anticipated Milestones:

Preclinical data – expect to present preclinical data across the portfolio at an upcoming medical congress in Spring 2026.

HWK-206 – plan to submit an Investigational New Drug application to the U.S. Food and Drug Administration in mid-2026 for HWK-206 in small-cell lung cancer and neuroendocrine tumors; Phase 1 recruitment planned to start in Q3 2026.

HWK-007 and HWK-016 – ongoing recruitment into Phase 1 trials, with initial results expected in 1H 2027.

(Press release, Whitehawk Therapeutics, MAR 12, 2026, View Source [SID1234663516])

On March 12, 2026 IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company developing innovative gamma-delta ("γδ") T cell therapies and γδ T cell engagers for cancer and autoimmune diseases, reported financial results and business highlights for the fourth quarter and full-year ended December 31, 2025.

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"In 2025, we delivered meaningful progress financially and across our clinical γδ T cell therapy programs and our next-generation T cell engager platform," said William Ho, co-founder and Chief Executive Officer of IN8bio. "Our deep knowledge of γδ T cell biology and their powerful immune properties enables us to create potential first-in-class or best-in-class programs to address significant unmet medical needs. Last year, we reported updated survival data from our INB-200 and 400 Phase 1 and 2 programs in GBM, along with data from a contemporaneously enrolled standard-of-care ("SOC") control group. Patients treated with our DeltEx DRI γδ T cells nearly doubled the mPFS, compared to the SOC group, despite a higher number of patients receiving only partial resections. These findings underscore the aggressive nature of GBM, even with SOC treatment, and highlight the significant need for new treatment options. Importantly, our recent financing strengthens our balance sheet and is expected to extend our cash runway to allow us to advance multiple high-value programs. With differentiated science, advancing clinical programs, and a novel TCE platform, we believe IN8bio is well positioned to achieve key milestones and deliver value to shareholders and patients in 2026."

Key Highlights

Strengthened Balance Sheet with up to $40.2 Million Private Placement

In December 2025, IN8bio announced a private placement of up to $40.2 million in gross proceeds, including $20.1 million in an initial closing and the potential for an additional milestone-based $20.1 million.

Financing led by Coastlands Capital, with participation from new and existing investors.
Net proceeds of $18.5 million expected to extend the Company’s cash runway into the first half of 2027.
Proceeds intended to support IND-enabling studies for INB-619 γδ TCE, further discussions with the FDA on potential clinical pathways for the GBM program, continued advancement of the Company’s γδ T cell therapy programs, and general corporate purposes.
Presented Updated Clinical Data Demonstrating Durable Survival Improvements in Newly Diagnosed Glioblastoma

In January 2026, IN8bio reported updated data from its INB-200 Phase 1 and INB-400 Phase 2 trials evaluating DeltEx DRI γδ T cells in newly diagnosed GBM. The data included a contemporaneous SOC control group from multiple clinical sites.

mPFS for repeat dose DeltEx DRI patients was 13.0 months vs. 6.6 months for SOC control cohort (+97% improvement).
Median overall survival ("mOS") in repeat dose patients had not yet been reached at 17.2+ months, surpassing the 13.2-month final mOS for SOC control arm.
Several patients remained progression-free beyond two years, and one grade 4 glioma patient remains progression-free for greater than 4.5 years, highlighting the long-term benefit of INB-200.
No dose-limiting toxicities ("DLTs"), cytokine release syndrome ("CRS"), neurotoxicity ("ICANS"), tumor inflammation-associated neurotoxicity ("TIAN") or other unexpected severe adverse events were observed.
Results reinforce the potential of repeat-dose γδ T cell therapy to meaningfully improve outcomes in newly diagnosed glioblastoma and support continued regulatory engagement regarding potential clinical pathways.
Continued Advancing Next-Generation Gamma-Delta T Cell Engager Platform

Continued advancing INB-600 platform, featuring novel γδ T cell engagers designed to potentially improve durability and safety compared with traditional CD3-targeting engagers.
Progressing INB-619, a CD19-targeting γδ T cell engager for potential use in oncology and autoimmune diseases into IND-enabling studies with initial animal data expected in 2026.
Presented encouraging preclinical data including complete B-cell depletion, robust γδ T cell expansion, and minimal CRS-associated cytokine release at The American College of Rheumatology ("ACR") Convergence 2025 meeting, supporting differentiation of the platform.
Leadership Update

In February 2026, IN8bio announced the promotion of Kate Rochlin, Ph.D., to President and Chief Operating Officer. Dr. Rochlin has played a central role in advancing the Company’s clinical and preclinical programs, manufacturing capabilities, and strategic execution, and will continue overseeing company operations as IN8bio advances its pipeline and prepares for its next phase of growth.

Anticipated Milestones

Guidance from the FDA on potential regulatory pathway by the second half of 2026
Additional clinical updates on our GBM programs, including final mOS data from the total data set, at medical meetings in mid- and late-2026
Initial preclinical animal data and additional IND-enabling data for INB-619 expected in the second half of 2026
Completion of patient dosing in INB-100 in early 2026 and report long-term follow-up results at a medical meeting in late 2026
Fourth Quarter and Full Year 2025 Financial Highlights

IN8bio significantly improved its financial profile in 2025, reducing its full-year net loss by 36% year-over-year and ending the year with more than double the cash on hand compared to the prior year.

Cash position: As of December 31, 2025, the Company had cash of $27.1 million, compared with $11.1 million as of December 31, 2024.
Research and Development (R&D) expenses: R&D expenses were $2.6 million for the three months ended December 31, 2025, compared with $3.6 million for the comparable prior year period. R&D expenses were $10.2 million for the year ended December 31, 2025, compared with $17.0 million in the prior year. Non-cash stock-based compensation expense included in R&D expense was $1.2 million for the full year 2025 and $0.3 million for the fourth quarter of 2025.
General and administrative (G&A) expenses: G&A expenses were $2.4 million for the three months ended December 31, 2025, compared with $2.6 million for the comparable prior year period. G&A expenses were $9.7 million for the year ended December 31, 2025, compared with $12.6 million in the prior year. Non-cash stock-based compensation expense included in G&A expense was $2.0 million for the full year 2025 and $0.4 million for the fourth quarter of 2025.
Severance and related charges: Severance and related charges were nil for the year ended December 31, 2025, compared with $1.1 million in the prior year.
Net loss: The Company reported a net loss of $4.9 million, or $0.45 per basic and diluted common share, for the three months ended December 31, 2025, compared with a net loss of $6.2 million, or $2.38 per basic and diluted common share, for the comparable prior year period. For the year ended December 31, 2025, net loss was $19.4 million, or $4.44 per basic and diluted common share, compared with a net loss of $30.4 million, or $17.05 per basic and diluted common share, for the prior year.
IN8bio enters 2026 with a strengthened balance sheet, advancing clinical programs, and multiple regulatory milestones ahead. The Company remains focused on generating meaningful clinical data, advancing its γδ T cell platforms toward key inflection points, and deploying capital efficiently across its highest-priority programs across oncology and autoimmune diseases.

(Press release, In8bio, MAR 12, 2026, View Source [SID1234663498])