Erasca reports Q4 EPS (20c), consensus (23c)

Cash, cash equivalents, and marketable securities were $322M as of December 31, compared to $435.6M as of December 31, 2022.”…In 2023, our three clinical candidates reached important clinical and regulatory milestones, including gaining regulatory clarity to allow us to begin our global Phase 3 study for naporafenib, demonstrating encouraging therapeutic potential for ERAS-007, and achieving Fast Track Designation FTD for each of naporafenib in combination with trametinib, and ERAS-801,” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “For ERAS-007, we presented promising preliminary clinical activity at ASCO 2023 in combination with encorafenib and cetuximab EC in EC-naive patients with BRAF-mutant BRAFm colorectal cancer CRC , and we expect to share additional data in the first half of 2024. We also advanced our central nervous system CNS penetrant EGFR inhibitor ERAS-801 to further characterize activity in patients with EGFR-amplified recurrent glioblastoma GBM , which represents approximately 85% of all patients with EGFR-altered GBM.” Lim continued, “In 2024, we have several key catalysts for naporafenib, which is currently being developed in two trials, SEACRAFT-1, which is ongoing in patients with RAS Q61X tissue agnostic solid tumors, and SEACRAFT-2, which is expected to initiate in the first half of 2024 in patients with NRAS-mutant melanoma. We are excited by our recent pooled analysis of the median overall survival mOS data from the Phase 1b and Phase 2 trials for naporafenib plus trametinib in patients with NRASm melanoma. These data showed an mOS of approximately 13-14 months, which nearly doubles the mOS observed for historical control observations for cytotoxic chemotherapy and single agent MEK inhibitors in patients similar to the SEACRAFT-2 patient population.”