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Jun 30, 2023
Erasca Q2 2023 Earnings Report
Reported financial results for the second quarter of 2023 and provided business updates.
Key Takeaways
Erasca reported financial results for Q2 2023, highlighting significant progress across all clinical programs, including promising data for ERAS-007 and ERAS-601. The company's cash runway extends into H2 2025, supported by a strong balance sheet with $365 million in cash, cash equivalents, and marketable securities.
Advanced clinical programs with Phase 1b combo data for ERAS-007 and ERAS-601.
ERAS-801 received FTD and ODD designations.
Naporafenib combination data was published.
Cash, cash equivalents, and marketable securities totaled $365 million, funding operations into H2 2025.
Forward Guidance
Erasca anticipates several key milestones, including dosing the first patient in the SEACRAFT-1 Phase 1b trial and initial Phase 1 monotherapy dose escalation data for ERAS-801 in recurrent GBM, both expected in the second half of 2023.
Positive Outlook
- Dosing of the first patient in SEACRAFT-1 expected in the second half of 2023
- Initial Phase 1b combination data from SEACRAFT-1 expected between Q2 and Q4 2024
- Dosing of the first patient in SEACRAFT-2 expected in the first half of 2024
- Phase 1b combination expansion data from HERKULES-3 expected between H2 2023 and H1 2024
- Phase 1b combination expansion data from FLAGSHP-1 expected in the first half of 2024
Challenges Ahead
- Preliminary trial results may not indicate final results.
- Clinical outcomes may change as patient enrollment continues.
- Unexpected adverse side effects or inadequate efficacy of product candidates may limit development.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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