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Erasca, Inc.

ERAS · NASDAQ

Market closed$19.17$0.150000 (+0.79%)After hours $18.70 · -2.45%

Key statistics

Previous close$19.02
Open$18.60
Day high$19.85
Day low$18.13
52-week high$24.28
52-week low$1.33
Market cap5.96B
Volume6.70M
Average volume7.07M
P/E ratio-20.61
Forward P/E—
EPS-0.93
Dividend yield0.00%

Market context

Why it moved

ERAS edged higher despite ongoing headwinds from securities class action lawsuits reminding investors of the August 10, 2026 lead plaintiff deadline, as broader bullish sentiment in the biotech sector — driven by an M&A wave and AI-accelerated drug discovery — provided modest support for the stock.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Erasca edged higher on Thursday, though shares are pulling back in after-hours trading amid a broader risk-off tone in markets. The company remains in focus following its $632.5 million upsized public offering that closed July 15, with 36.1 million shares priced at $17.50 — well below current levels — raising questions about dilution even as the capital infusion supports advancing ERAS-0015 toward potentially registration-enabling Phase 3 trials. Compounding investor unease is an active securities class action (lead plaintiff deadline: August 10) alleging Erasca failed to disclose IP risks tied to Revolution Medicines' patent and trade-secret claims over ERAS-0015.

0.7886

July 17, 2026Erasca shares tumbled roughly 10.5% as investors digested the dilutive impact of a massive $632.5 million equity offering — 36.1 million shares priced at $17.50, well below where the stock had been trading — that closed July 15. While the raise was catalyzed by encouraging updated Phase 1 data for ERAS-0015 showing a 57% unconfirmed response rate in 2L+ KRAS G12X pancreatic cancer, overhang from the offering and a lingering securities class action lawsuit tied to April's treatment-related death disclosure and IP dispute with Revolution Medicines continued to weigh on sentiment. Jefferies reiterated a Buy rating with a $24 target, and the analyst consensus remains Strong Buy.

-10.5362

July 16, 2026Erasca surged after unveiling updated Phase 1 data for its pan-RAS molecular glue ERAS-0015, showing a 57% unconfirmed response rate in second-line-or-later KRAS G12X pancreatic cancer patients at the recommended dose — an encouraging signal for a program now on a clear path toward registration-enabling trials in lung and pancreatic cancer beginning 2027. Adding to the bullish catalyst, the company closed an upsized public offering of over 36 million shares at $17.50 each, raising approximately $632.5 million in gross proceeds — including full exercise of the underwriters' overallotment option — giving Erasca a well-funded runway to advance its pipeline despite the dilution.

9.0256

July 15, 2026Erasca surged nearly 9% as investors responded positively to updated Phase 1 data for its lead candidate ERAS-0015, which showed a 57% unconfirmed objective response rate in second-line or later KRAS G12X pancreatic cancer patients at the recommended 32 mg dose, with no dose-limiting toxicities and plans to advance into potentially registration-enabling Phase 3 trials. The company simultaneously priced an upsized $550 million public offering at $17.50 per share — above the initial $500 million target — with J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI as bookrunners, signaling strong institutional demand despite the offering pricing below the prior close of $18.53.

8.9385

July 14, 2026Erasca declined after announcing a proposed $500 million underwritten public offering of common stock (plus a $75 million overallotment option), a move that signals significant dilution for existing shareholders. The capital raise, intended to fund R&D and general corporate purposes, comes on the same day the company released updated Phase 1 data for its pan-RAS molecular glue ERAS-0015—showing encouraging monotherapy responses in pancreatic and lung cancers—and announced plans for pivotal trials in 2027. The stock also remains under a legal cloud, with Robbins Geller filing a securities class action tied to the April 2026 disclosures of a patient death and IP disputes with Revolution Medicines.

-3.3999

July 11, 2026Erasca shares fell amid an ongoing legal overhang from a class action lawsuit related to its ERAS-0015 clinical program, which suffered a major reset in late April after a treatment-related patient death and patent infringement allegations from Revolution Medicines triggered a near-50% collapse. Broader biotech sentiment remained constructive — with XLV near record highs and Jim Cramer calling biotech 'the hottest group in the market' — but Erasca's company-specific issues and below-average volume suggest investors remain cautious ahead of the August 10 lead plaintiff deadline in the securities lawsuit.

-3.3889

July 10, 2026Erasca gained after a volatile stretch shaped by an ongoing class action lawsuit with an August 10 deadline, stemming from the April disclosure of a treatment-related death in its ERAS-0015 Phase 1 trial and a patent dispute with Revolution Medicines. Despite that legal overhang, biotech sentiment has strengthened broadly, with Jim Cramer calling the sector "the hottest group in the market" and healthcare posting two consecutive weeks of market-leading gains. Investors appear to be cautiously re-engaging with high-risk biotech names amid M&A optimism and a more favorable FDA environment, even as broader markets navigated fresh U.S.-Iran tensions.

1.6428

July 9, 2026Erasca shares gained nearly 3% on Tuesday, outperforming the broader market amid a risk-off session driven by renewed U.S.-Iran tensions and a tech-led selloff. The move comes as Erasca continues to trade well off the lows seen after its late-April collapse, when ERAS plunged over 48% following disclosure of a treatment-related death in its ERAS-0015 Phase 1 trial and a patent infringement allegation from Revolution Medicines. Investor focus now shifts to a securities class action lawsuit with a lead plaintiff deadline of August 10, 2026, while the broader biotech sector benefits from M&A optimism and healthcare's status as a top-performing sector year-to-date.

2.7778

Seeking Alpha · July 17, 2026Erasca: A Credible Rival To Revolution's Daroxonrasib, At A Cheaper Price Point (ERAS)Moomoo · July 16, 2026Press Release: Erasca Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional SharesInvesting.com · July 15, 2026Erasca closes $632.5 million public stock offeringStock Titan · July 15, 2026Erasca intends to use offering proceeds for oncology drug research
Mt Newswire · July 15, 2026Erasca Closes $632.5 Million Upsized Common Stock Offering
Benzinga · July 14, 2026Erasca Unveils Updated Cancer Candidate Progress, Maps Path Toward Pivotal Cancer Trials
Benzinga · July 14, 2026B of A Securities Maintains Neutral on Erasca, Raises Price Target to $18
Mt Newswire · July 14, 2026Erasca Prices Upsized Public Offering of $550 Million
Mt Newswire · July 13, 2026Erasca Plans $500 Million Underwritten Offering of Common Stock
Benzinga · July 13, 2026Erasca Plans To Commence $500M Common Stock Offering
Benzinga · July 13, 2026Erasca Files Prospectus For Offering Mixed Shelf; Terms Undisclosed
Benzinga · July 13, 2026Erasca Announces Updated Preliminary ERAS‑0015 Phase 1 Data And Clinical Plans, With Pivotal Lung And Pancreatic Cancer Trials Slated For 2027

Peers

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