Erasca Q4 2023 Earnings Report
Key Takeaways
Erasca reported a net loss of $29.7 million for the quarter ended December 31, 2023, compared to a net loss of $135.3 million for the quarter ended December 31, 2022. Cash, cash equivalents, and marketable securities were $322.0 million as of December 31, 2023.
Gained global registrational clarity for naporafenib and achieved key clinical milestones for naporafenib, ERAS-007, and ERAS-801
Multiple data readouts expected in 2024 for naporafenib (SEACRAFT-1), ERAS-007 (HERKULES-3), and ERAS-801 (THUNDERBBOLT-1) and planned initiation of pivotal SEACRAFT-2 trial
Robust balance sheet with cash, cash equivalents, and marketable securities of $322 million as of December 31, 2023
Granted Fast Track Designation for Naporafenib
Erasca
Erasca
Forward Guidance
Erasca expects multiple data readouts in 2024 for naporafenib (SEACRAFT-1), ERAS-007 (HERKULES-3), and ERAS-801 (THUNDERBBOLT-1) and planned initiation of pivotal SEACRAFT-2 trial
Positive Outlook
- Initial Phase 1b combination data expected between the second and fourth quarters of 2024 for SEACRAFT-1
- Phase 3 trial initiation expected in the first half of 2024 for SEACRAFT-2
- Phase 1b combination data expected in the first half of 2024 for HERKULES-3
- Initial Phase 1 monotherapy data expected in 2024 for THUNDERBBOLT-1