ERASCA closes $258.8 million public offering of common stock

Erasca Inc. (NASDAQ: ERAS) closed its public offering of 25,875,000 shares of common stock at $10.00 per share, generating gross proceeds of approximately $258.8 million before expenses, the clinical-stage precision oncology company announced January 23.

The offering included 3,375,000 additional shares sold through the underwriters' full exercise of their option to purchase extra shares. All shares were sold by Erasca.

The company stated it intends to use the net proceeds, combined with existing cash, cash equivalents and marketable securities, to fund research and development of its product candidates and other development programs, as well as for working capital and general corporate purposes.

J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI served as joint book-running managers for the offering.

The securities were offered under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission and declared effective on August 22, 2025.

Erasca focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.

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