Erasca reports Q2 EPS (21c), consensus (24c)

Cash, cash equivalents, and marketable securities were $365.3M as of June 30 compared to $435.6M as of December 31, 2022. Erasca expects its current cash, cash equivalents, and marketable securities balance to fund operations into the second half of 2025.”Our team continues to achieve important milestones for our four clinical programs that underscore their potential to address unmet needs for multiple patient segments affected by oncogenic RAS/MAPK pathway signaling,” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “Expansion of ERAS-007 plus encorafenib and cetuximab in patients with EC-naive BRAF-mutated colorectal cancer is advancing following the encouraging early efficacy data seen in HERKULES-3 (50% (3/6) response rate at the highest dose tested). We are also building on the encouraging initial Phase 1b dose escalation data for ERAS-601 plus cetuximab in FLAGSHP-1, with Phase 1b combination dose expansion data planned for the first half of 2024.” Dr. Lim continued, “Importantly, we remain on track to dose the first patient in the SEACRAFT-1 Phase 1b trial in RAS Q61X solid tumors for our most advanced program, the potential first-in-class and best-in-class pan-RAF inhibitor naporafenib. Finally, we are continuing to advance our CNS-penetrant EGFR inhibitor ERAS-801, which was granted FDA Fast Track and Orphan Drug Designations, in recurrent glioblastoma. Our balance sheet continues to be strong, supporting a cash runway into the second half of 2025 and through the execution of meaningful clinical catalysts over the next 18 months.”