ERAS Stock — Erasca Inc.: Cash, EV, Pipeline

Share price

$14.77

Market cap

$5,166.0M

Cash

$784.7M

Enterprise value

$4,381.3M

Balance sheet

Cash	$784.7M
Debt	$0.0M
Net cash	$784.7M
Enterprise value	$4,381.3M
Basic shares	312.6M shares
Fully diluted shares	423.0M shares
Fully diluted market cap	$6,248.3M
Cash per share	$2.51

Cash figures as of 2026-07-15. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027	ERAS-007	Phase 2	Advanced or Metastatic Solid Tumors	—
May 13 - Jun 24	Naporafenib	Phase 3	Advanced or Metastatic NRAS-mutant Melanoma	—
Jun 12 - Jul 24	ERAS-0015	Phase 1	Metastatic Solid Tumors	—
Sep 12 - Oct 24	ERAS-4001	Phase 1	Metastatic Solid Tumors	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

ERAS-0015

Phase 1 · Active Modality: molecular glue

Target RAS (pan-RAS)

Partnerships Guangzhou Joyo Pharmatech: exclusive worldwide license to pan-RAS inhibitors ($150M paid March 2026 to expand territory to China/HK/Macau; royalty-bearing); Tango Therapeutics: clinical collaboration (Tango-sponsored Phase 1 with vopimetostat); Merck: KEYTRUDA supplied at no cost for AURORAS-1

Indications

RAS-mutated solid tumors (Phase 1)

Catalysts

— H1 2027
— H1 2027
— 2027
— H2 2027 to H1 2028

Status note AURORAS-1 IND cleared May 2025; monotherapy expansion and combination dose-escalation cohorts (panitumumab, pembrolizumab) initiated Q1-Q2 2026 ahead of guidance.

ERAS-4001

Phase 1 · Active

Target KRAS (pan-KRAS)

Indications

KRAS-mutated solid tumors (Phase 1)

Catalysts

— H2 2026
— 2027

Status note BOREALIS-1 IND cleared May 2025. Spares wildtype HRAS/NRAS.

ERAS-12

Discovery · Active Modality: biparatopic antibody (EGFR D2/D3)

Target EGFR

Indications

EGFR-driven tumors (Stage not disclosed)

Status note Lead candidate identified, but no internal resources committed; company intends to seek a partner to continue development.

Naporafenib

Stage not disclosed · Terminated

Partnerships Novartis: exclusive worldwide license terminated effective June 3, 2026

Indications

Advanced or Metastatic NRAS-mutant Melanoma (Phase 3)
Advanced or Metastatic Solid Tumors (Phase 3)

Status note Development stopped following May 2025 pipeline review to prioritize the RAS franchise. Patients enrolled in SEACRAFT-1 and SEACRAFT-2 trials permitted to continue treatment.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Naporafenib
Lead indication	Advanced or Metastatic NRAS-mutant Melanoma
Lead phase	Phase 3
Active trials	6
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06346067	Phase 3	Active, not recruiting	Sponsor	ERAS	—	Advanced or Metastatic NRAS-mutant Melanoma	—
NCT04866134	Phase 2	Active, not recruiting	Sponsor	ERAS	—	Advanced or Metastatic Solid Tumors	—
NCT06983743	Phase 1	Recruiting	Sponsor	ERAS	MRK	Metastatic Solid Tumors	—
NCT07021898	Phase 1	Recruiting	Sponsor	ERAS	—	Metastatic Solid Tumors	—
NCT05907304	Phase 1	Active, not recruiting	Sponsor	ERAS	—	Advanced or Metastatic Solid Tumors	—
NCT04670679	Phase 1	Active, not recruiting	Sponsor	ERAS	—	Advanced or Metastatic Solid Tumors	—
NCT05222802	Phase 1	Active, not recruiting	Collaborator	Katmai Pharmaceuticals Inc.	—	Glioblastoma Multiforme	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 7 active trials for Erasca, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Frazier Life Sciences	24,975,188	+300,000	9.96%	2026-08-14
RTW Investments	17,946,754	+1,789,579	2.81%	2026-08-14
Logos Global Management	12,150,000	+1,000,000	9.58%	2026-08-14
OrbiMed Advisors	495,900	+495,900	0.17%	2026-08-14
ADAR1 Capital Management	0	-10,000	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

ERAS — Erasca Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders