On November 12, 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 September 30, 2025.

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"Our RAS-targeting franchise continues to advance rapidly, with multiple important clinical milestones approaching," said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. "A U.S. patent was issued that covers the composition of matter for our potential best-in-class pan-RAS molecular glue ERAS-0015, the first of several patents we anticipate may be issued, which would strengthen the intellectual property surrounding our differentiated RAS portfolio. We also reinforced our scientific leadership with the promotion of Robert Shoemaker, Ph.D., to chief scientific officer. As a core member of Erasca’s founding team, Robert has been instrumental in shaping our research strategy since company inception."

Dr. Lim continued, "Clinical development of ERAS-0015 and our potential best-in-class pan-KRAS inhibitor ERAS-4001 is on track, with initial Phase 1 monotherapy data for both ERAS-0015 and ERAS-4001 expected in 2026. With a strong balance sheet and a cash runway into the second half of 2028, we are well-positioned to drive our programs forward and deliver new therapeutic options with the potential to address high unmet needs of patients with RAS-driven cancers."

Research and Development (R&D) Highlights

U.S. Composition of Matter Patent Issued for ERAS-0015: In November 2025, Erasca announced that the U.S. Patent and Trademark Office issued patent No. 12,458,647 covering the composition of matter for potentially best-in-class pan-RAS molecular glue ERAS-0015 and related compositions until September 2043, absent any patent term adjustments or extensions.

Corporate Highlights

Strengthened Scientific Leadership: In November 2025, Erasca promoted Robert Shoemaker, Ph.D., previously Erasca’s senior vice president of research, to chief scientific officer.

Key Upcoming Milestones

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AURORAS-1: Phase 1 trial for ERAS-0015 (pan-RAS molecular glue) in patients with RAS-mutant solid tumors
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Initial Phase 1 monotherapy data expected in 2026
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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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Initial Phase 1 monotherapy data expected in 2026

Third Quarter 2025 Financial Results

Cash Position: Cash, cash equivalents, and marketable securities were $362.4 million as of September 30, 2025, compared to $440.5 million as of December 31, 2024. Erasca expects its cash, cash equivalents, and marketable securities balance to fund operations into the second half of 2028.

Research and Development (R&D) Expenses: R&D expenses were $22.5 million for the quarter ended September 30, 2025, compared to $27.6 million for the quarter ended September 30, 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.

General and Administrative (G&A) Expenses: G&A expenses were $10.1 million for the quarter ended September 30, 2025, compared to $9.6 million for the quarter ended September 30, 2024. The increase was primarily driven by increases in legal fees and personnel costs, including stock-based compensation expense.

Net Loss: Net loss was $30.6 million, or $(0.11) per basic and diluted share, for the quarter ended September 30, 2025, compared to $31.2 million, or $(0.11) per basic and diluted share, for the quarter ended September 30, 2024.

(Press release, Erasca, NOV 12, 2025, View Source [SID1234659818])