Erasca Q1 2022 Earnings Report

Reported financial results for the first quarter of 2022 and provided business updates.

Key Takeaways

Erasca reported a net loss of $36.5 million, or $(0.31) per basic and diluted share, for the quarter ended March 31, 2022. The company's cash, cash equivalents, and marketable securities were $421.8 million as of March 31, 2022, which is expected to fund operations into the second half of 2024.

Advanced ERK1/2 inhibitor ERAS-007 and SHP2 inhibitor ERAS-601 in respective clinical trials.

Achieved first patient dosing for CNS-penetrant EGFR inhibitor ERAS-801.

Presented preclinical data at AACR meeting supporting clinical development of programs.

Remain on track to report Phase 1b monotherapy data for ERAS-007 and Phase 1 monotherapy data for ERAS-601 in H2 2022; IND filing for ERAS-3490 on track for H2 2022.

EPS

-$0.31

Previous year: -$0.765