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Sep 30, 2022
Erasca Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022 and provided business updates.
Key Takeaways
Erasca reported positive preliminary monotherapy data for ERAS-007 and ERAS-601, signed CTCSAs with Eli Lilly and Pfizer, and a strategic R&D collaboration with MD Anderson. The company's cash, cash equivalents, and marketable securities totaled $365 million.
Reported promising preliminary Phase 1/1b data for ERAS-007 and ERAS-601 in advanced solid tumors.
Signed CTCSAs with Eli Lilly to supply cetuximab in combination with ERAS-601 and with Pfizer to supply palbociclib in combination with ERAS-007.
Entered a strategic R&D collaboration with MD Anderson.
Expects to file an IND for CNS-penetrant KRAS G12C inhibitor ERAS-3490 before year-end.
Forward Guidance
Erasca anticipates filing an IND for ERAS-3490 in KRAS G12C mutant NSCLC before year-end. In the first half of 2023, they expect to initiate a dose escalation trial for ERAS-007 in combination with ERAS-601 and report combination data for ERAS-007 in gastrointestinal malignancies and ERAS-601 in triple wildtype CRC.
Positive Outlook
- IND filing anticipated in the second half of 2022 for ERAS-3490
- Initiation of a Phase 1b dose escalation trial for ERAS-007 in combination with ERAS-601 anticipated in the first half of 2023
- Initial Phase 1b combination data anticipated in the first half of 2023 for HERKULES-3
- Initial Phase 1b combination data in triple wildtype CRC anticipated in the first half of 2023 for FLAGSHP-1
- Initial Phase 1b combination data anticipated in 2023 for HERKULES-2
Historical Earnings Impact
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