Erasca Q1 2024 Earnings Report
Key Takeaways
Erasca reported compelling survival data from a pooled analysis of mature data for naporafenib plus trametinib in patients with NRASm melanoma, which showed a near doubling of median overall survival. The company also strengthened its balance sheet with a $45 million private placement financing.
Median OS of 13-14 months for naporafenib plus trametinib in pooled analysis of patients with NRASm melanoma.
Strengthened balance sheet with private placement financing from high-quality new and existing healthcare-focused investors.
Pro forma cash, cash equivalents, and marketable securities of $334 million is expected to fund operations into H2 2026.
Expects several data readouts across clinical programs, including naporafenib (SEACRAFT-1), ERAS-007 (HERKULES-3), and ERAS-801 (THUNDERBBOLT-1).
Erasca
Erasca
Forward Guidance
Erasca expects initial Phase 1b combination data for SEACRAFT-1 between the second and fourth quarters of 2024, Phase 1b combination data for HERKULES-3 in the second quarter of 2024, and initial Phase 1 monotherapy data for THUNDERBBOLT-1 in 2024. The company also expects to initiate its pivotal SEACRAFT-2 trial in the second quarter of 2024.
Positive Outlook
- Initial Phase 1b combination data for SEACRAFT-1 expected between the second and fourth quarters of 2024
- Phase 3 trial initiation expected in the second quarter of 2024
- Phase 1b combination data for HERKULES-3 expected in the second quarter of 2024
- Initial Phase 1 monotherapy data for THUNDERBBOLT-1 expected in 2024
- Pro forma cash, cash equivalents, and marketable securities of $334 million is expected to fund operations into H2 2026