Erasca, Inc. (Nasdaq: ERAS) priced a public offering of 31,428,572 shares of common stock at $17.50 per share, according to a press release dated July 13, 2026.

The clinical-stage oncology company expects to raise approximately $550.0 million in gross proceeds before underwriting discounts, commissions, and other offering expenses. The offering was upsized from its original size.

Erasca has also granted underwriters a 30-day option to purchase up to an additional 4,714,285 shares at the offering price, less underwriting discounts and commissions. All shares in the offering are being sold by Erasca.

The offering is expected to close on July 15, 2026, subject to customary closing conditions.

The company stated it intends to use net proceeds, along 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 are serving as joint book-running managers for the offering.