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Dec 31, 2021
Erasca Q4 2021 Earnings Report
Reported financial results for the fourth quarter of 2021 and provided business updates.
Key Takeaways
Erasca reported its Q4 2021 financial results, highlighting a strong cash position of $459.2 million and progress in its clinical programs, including ERAS-007, ERAS-601, and ERAS-801.
Initiated three HERKULES clinical trials in 2021 evaluating ERAS-007.
Entered into a clinical trial collaboration and supply agreement with Lilly for cetuximab.
Nominated ERAS-3490, a highly CNS-penetrant KRAS G12C inhibitor.
Received IND clearance of ERAS-801 for the treatment of patients with recurrent glioblastoma multiforme.
Erasca
Erasca
Forward Guidance
Erasca expects its current cash, cash equivalents, and investments balance to fund operations into 2024.
Positive Outlook
- Potential therapeutic benefits of product candidates, including ERAS-007, ERAS-601, ERAS-801, and ERAS-3490.
- Expected timing of the IND filing for ERAS-3490.
- Ability to continue to successfully execute on the business plan in 2022.
- Planned advancement of the development pipeline.
- Anticipated timing of data readouts for clinical trials and other upcoming development milestones.
Challenges Ahead
- Approach to the discovery and development of product candidates based on a singular focus on shutting down the RAS/MAPK pathway.
- Potential delays in the commencement, enrollment, and completion of clinical trials and preclinical studies.
- Dependence on third parties in connection with manufacturing, research, and preclinical and clinical testing.
- Unexpected adverse side effects or inadequate efficacy of product candidates.
- Inability to realize any benefits from current licenses and acquisitions and any future licenses, acquisitions, or collaborations.