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Erasca

ERAS Lead: Phase 1 10 Biotech Distilled articles ↓ 31 filings & releases ↓ Cash $42.5M (Jun 30, 2026) ↓ 10 verdicts ↓ 3 timing quotes ↓
Oncology ProteinSmall Molecule

Market cap $5.04B 349.8M shares (10-Q, Aug 4, 2026) × $14.41 close Nov 6, 2026

Most recent annual filing: 2026-03-15

Catalyst timeline

1 trackedQuarter catalyst calendar →
  1. ERAS-4001 Ph1 interim2H 2026ERAS-4001 Ph1 interim, 2H 2026, material

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (5 active programs)

Discontinued (4)

Capital (as filed)

Cash
$42.5M cash and cash equivalents · Jun 30, 2026 (10-Q)
Short-term investments
$226M Jun 30, 2026
Long-term investments
$116M Jun 30, 2026
Operating cash flow
−$27.3M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$409M cash, runway 2030 per the update of Jul 13, 2026 — the company's own words as read there, not the filed figure

Offering documents (2)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (10)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (10 calls)

Every verdict Biotech Distilled has published on Erasca, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-02-11 Speculative buy speculative Erasca (ERAS): Scientific Deep Dive for Lead and Pipeline Products Superior potency of ERAS-0015 (20x tighter CypA binding), cash runway to 2029, and high M&A appeal from Big Pharma seeking RAS exposure make this an attractive speculative risk/reward in smid-cap biotech.
  2. 2026-03-08 Speculative buy speculative UPDATE: Erasca (ERAS) - A Free Look at a Rational Combo Tango PRMT5 combo deal de-risks the pipeline further and enhances M&A appeal at no cost to Erasca, keeping the speculative BUY thesis intact.
  3. 2026-03-14 Speculative buy speculative UPDATE: Erasca (ERAS) - Burns the Boats and Goes All-In on RAS Killing Naporafenib and buying global ERAS-0015 rights cleans up the story as a pure-play RAS company despite runway shortening to H2 2028.
  4. 2026-04-27 Hold UPDATE: Erasca (ERAS) - The Clock is Set for Mid-May After a 58% run-up the risk is the elevated entry price not the science; trimming partials is advised while holding a core position into the mid-May data readout.
  5. 2026-04-28 Hold UPDATE: Erasca (ERAS) - The Data Lands, and So Does the Lawsuit Threat Science track is on with accelerated combo cohorts but the RevMed cease-and-desist has opened a legal track that taxes the M&A premium; awaiting full data deck before further action.
  6. 2026-04-29 Avoid UPDATE: Erasca (ERAS) - A Buried Phase 1 Fatality and the Rapid Collapse of ERAS-0015 A Grade 5 treatment-related pneumonitis at the recommended expansion dose shatters the pristine-safety thesis while the RevMed trade-secret lawsuit freezes M&A prospects, eliminating the asymmetric setup.
  7. 2026-05-12 Avoid UPDATE: Erasca (ERAS) - A $150M Mea Culpa and a Merck Wrinkle Safety break and litigation overhang unchanged; Merck CTCSA is a counter-signal but not a thesis breaker, and the next rehabilitating data is 12 months away.
  8. 2026-07-13 Watch UPDATE: Erasca (ERAS) - The Data Rehabilitates, and Management Raises $500M Anyway Expanded safety table with 72 patients at PAD shows differentiated low-grade tox profile and panitumumab combo cleared first cohort, partially rehabilitating the thesis, but RevMed litigation overhang and run-up prevent a BUY call.
  9. 2026-08-11 Watch UPDATE: Erasca (ERAS) - They Just Hired the Pancreatic Cancer Guy Hiring former Roche/Genentech global oncology development head improves pivotal-trial execution probability but does not resolve RevMed litigation or advance the next data readout.
  10. 2026-08-24 Watch UPDATE: Erasca (ERAS) - The FDA Just Answered a Question I Had Been Asking Since April FDA Fast Track Designation granted despite Grade 5 pneumonitis in the file softly de-risks the regulatory track, but RevMed litigation and H1 2027 data gate remain unresolved.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (3 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (31)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Jul 13, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

8 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)