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Mar 31, 2023
Erasca Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023 and provided business updates.
Key Takeaways
Erasca reported a net loss of $33.2 million for the quarter ended March 31, 2023. The company's cash, cash equivalents, and marketable securities were $389.7 million as of March 31, 2023, which is expected to fund operations into H2 2025.
Phase 1b data in Journal of Clinical Oncology supports plans for pivotal Phase 3 SEACRAFT-2 trial for naporafenib in patients with NRASm melanoma expected to initiate in H1 2024.
Dosing of the first patient in Phase 1b SEACRAFT-1 trial in patients with RAS Q61X tissue agnostic solid tumors planned for H2 2023
ERAS-601 plus cetuximab combination was well tolerated with predominantly low-grade adverse events, supporting ‘three weeks on, one week off’ dosing regimen for ERAS-601
Clinical data readouts for HERKULES-2 (ERAS-007), HERKULES-3 (ERAS-007), and THUNDERBBOLT-1 (ERAS-801) trials planned in 2023
Forward Guidance
Erasca expects its current cash, cash equivalents, and marketable securities balance to fund operations into the second half of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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