On May 13, 2025 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 March 31, 2025 (Press release, Erasca, MAY 13, 2025, View Source [SID1234652963]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are pleased with the pace and execution of our RAS-targeting franchise and its early entry into the clinic following the recent IND clearance for ERAS-0015 and IND filing for ERAS-4001," said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. "Importantly, both product candidates have demonstrated differentiated therapeutic potential in multiple preclinical models and may have broad application across significant areas of unmet medical need for patients, including in colorectal, pancreatic, and non-small cell lung cancers. We look forward to advancing clinical development of these exciting programs with initial monotherapy data for both expected in 2026."

Dr. Lim added, "Our strategic decision to focus our efforts on our RAS-targeting franchise and pursue partnership opportunities for naporafenib enables us to extend our projected cash runway meaningfully to the second half of 2028. With two promising programs targeting prevalent and validated targets entering the clinic and a robust cash position with more than three years of projected runway, we are in a strong position to execute against our mission of delivering new targeted therapies against RAS/MAPK-driven cancers impacting millions worldwide."

Research and Development (R&D) Highlights

RAS-Targeting Franchise

•
IND Cleared for ERAS-0015: In May 2025, Erasca announced clearance of an investigational new drug (IND) application with the United States Food and Drug Administration (FDA) for pan-RAS molecular glue ERAS-0015 for patients with RAS-mutant (RASm) solid tumors. The AURORAS-1 Phase 1 trial will evaluate ERAS-0015 monotherapy in patients with RASm solid tumors.

•
IND Submitted for ERAS-4001: In May 2025, Erasca announced submission of an IND application to the FDA for pan-KRAS inhibitor ERAS-4001 for patients with KRAS-mutant (KRASm) solid tumors. The planned BOREALIS-1 Phase 1 trial will evaluate ERAS-4001 monotherapy in patients with KRASm solid tumors.

•
Presented Encouraging Preclinical Data for RAS-Targeting Franchise: In April 2025, Erasca presented new preclinical data reinforcing the potential best-in-class profiles of Erasca’s RAS-targeting franchise at the 2025 American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting. The company also presented potential first-in-class examples of direct SHOC2 binders and modulators of SMP complex assembly, representing a new approach to block the RAS/MAPK pathway.
Corporate Highlights

•
Extended Projected Cash Runway into H2 2028: In May 2025, Erasca announced a meaningful extension of cash runway guidance from the second half of 2027 to the second half of 2028, following the strategic decision to evaluate potential partnership opportunities for naporafenib.
Key Upcoming Milestones

•
AURORAS-1: Phase 1 trial for ERAS-0015 (pan-RAS molecular glue) in patients with RASm solid tumors
o
Initial Phase 1 monotherapy data expected in 2026
•
BOREALIS-1: Phase 1 trial for ERAS-4001 (pan-KRAS inhibitor) in patients with KRASm solid tumors
o
Initial Phase 1 monotherapy data expected in 2026

First Quarter 2025 Financial Results

Cash Position: Cash, cash equivalents, and marketable securities were $411.1 million as of March 31, 2025, compared to $440.5 million as of December 31, 2024. Erasca expects its cash, cash equivalents, and marketable securities balance of $411.1 million to fund operations into the second half of 2028.

Research and Development (R&D) Expenses: R&D expenses were $26.0 million for the quarter ended March 31, 2025, compared to $28.6 million for the quarter ended March 31, 2024. The decrease was primarily driven by decreases in personnel costs, including stock-based compensation expense, expenses incurred in connection with clinical trials, preclinical studies, and discovery activities, and facilities-related expenses and depreciation.

General and Administrative (G&A) Expenses: G&A expenses were $9.7 million for the quarter ended March 31, 2025, compared to $10.3 million for the quarter ended March 31, 2024. The decrease was primarily driven by decreases in legal fees and insurance costs.

Net Loss: Net loss was $31.0 million, or $(0.11) per basic and diluted share, for the quarter ended March 31, 2025, compared to $35.0 million, or $(0.23) per basic and diluted share, for the quarter ended March 31, 2024.