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Jun 30, 2022
Erasca Q2 2022 Earnings Report
Reported financial results for the fiscal quarter.
Key Takeaways
Erasca reported its Q2 2022 financial results, highlighting the advancement of its development-stage programs and the establishment of clinical foundations for future expansion. The company also entered into two new clinical partnerships and anticipates clinical updates on ERAS-007 and ERAS-601 along with an IND filing for ERAS-3490 in the second half of the year. With a strong balance sheet, Erasca expects its current resources to fund operations into the second half of 2024.
Initial Phase 1b monotherapy data for ERAS-007 in HERKULES-1 and first-in-human Phase 1 monotherapy data for ERAS-601 in FLAGSHP-1 expected in H2 2022
IND filing for CNS-penetrant KRAS G12C inhibitor ERAS-3490 in KRAS G12C mutant NSCLC in H2 2022
Bolstered clinical, operational, and commercial leadership
Strong balance sheet with cash, cash equivalents, and marketable securities of $391 million
Forward Guidance
Erasca expects to provide clinical updates on ERAS-007 and ERAS-601 and expects to file an IND for its central nervous system (CNS)-penetrant KRAS G12C inhibitor ERAS-3490 in KRAS G12C mutant NSCLC in the second half of the year. The company expects its current cash, cash equivalents, and marketable securities balance to fund operations into the second half of 2024.
Positive Outlook
- Initial Phase 1b monotherapy data for ERAS-007 expected in H2 2022
- First-in-human Phase 1 monotherapy data for ERAS-601 expected in H2 2022
- IND filing for ERAS-3490 expected in H2 2022
- Expects to report preliminary monotherapy safety and pharmacokinetics data for ERAS-007 and ERAS-601
- Expects to report preliminary monotherapy efficacy data for ERAS-007 and ERAS-601
Historical Earnings Impact
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Avg. Return Before/After Earnings
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