Erasca reports Q3 EPS (20c), consensus (22c)

Reports Q3 Cash Position: Cash, cash equivalents, and marketable securities were $343.6 M as of September 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..”In 2023, we have continued to make exciting progress across our pipeline,” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “In August, we dosed the first patient with naporafenib in combination with trametinib in our SEACRAFT-1 Phase 1b trial in patients with RAS Q61X tissue agnostic solid tumors. We identified promising activity in our HERKULES-3 signal-seeking study of ERAS-007 in combination with encorafenib and cetuximab in EC-naive patients with BRAF-mutated colorectal cancer using a flexible BID-QW dosing regimen, reinforcing ERAS-007’s potential as a backbone of combination therapy. Our robust balance sheet and cash runway into the second half of 2025 position us well to report on multiple near-term readouts from our ongoing clinical programs.”