Overview

• Precision oncology firm's Q1 net loss widened, driven by $150 mln in-process R&D expense

• R&D and G&A expenses rose yr/yr, reflecting higher personnel and clinical trial costs

• Company ended Q1 with $409 mln in cash, expects to fund operations into H2 2028

Outlook

• Erasca expects ERAS-0015 monotherapy expansion and combination data in H1 2027

• Company expects preliminary ERAS-4001 monotherapy data in H2 2026

• Erasca expects cash position to fund operations into H2 2028

Result Drivers

• CLINICAL TRIAL PROGRESS - Co reported robust preliminary dose escalation data for ERAS-0015 monotherapy in KRAS G12X NSCLC and PDAC, with favorable safety and tolerability results

• PIPELINE EXPANSION - Co initiated monotherapy expansion and combination dose escalation cohorts for ERAS-0015 ahead of schedule

• COLLABORATIONS - Co entered clinical trial collaborations with Merck and Tango Therapeutics to support combination studies with ERAS-0015

Company press release: ID:nGNX3TrR4D

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Erasca Inc is $20.00, about 97.6% above its May 8 closing price of $10.12

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