Erasca has raised approximately $891.3 million in gross proceeds across two public offerings in 2026 as the precision oncology company prepares to accelerate ERAS-0015 toward three potentially registration-enabling studies.
The company completed an upsized public offering in July that generated approximately $632.5 million in gross proceeds. That followed another upsized offering in January that raised approximately $258.8 million.
Erasca had $384.3 million of cash, cash equivalents and marketable securities as of June 30, before receiving the July offering proceeds. The company said the strengthened balance sheet is expected to fund its identified upcoming clinical milestones.
The capital is supporting an accelerated development program for ERAS-0015, a potential best-in-class pan-RAS molecular glue. Erasca expects a potentially registration-enabling second-line or later NSCLC study to begin in the first half of 2027, a Phase 3 first-line pancreatic cancer trial in 2027 and a Phase 3 RAS-mutant NSCLC trial beginning between the second half of 2027 and first half of 2028.
Early Phase 1 data in second-line or later KRAS G12X pancreatic cancer showed a 57% eight-week overall response rate at the recommended expansion dose, with favorable tolerability in the preliminary dataset.
KEY QUOTES:
“Our recent financing should position us to accelerate ERAS-0015 toward three potentially registration-enabling trials while maintaining momentum across our broader pipeline.”
Jonathan E. Lim, M.D., Chairman, CEO and Co-Founder of Erasca
