Erasca, Inc. (Nasdaq: ERAS) closed a public offering of 36,142,857 shares of common stock at $17.50 per share, generating approximately $632.5 million in gross proceeds before underwriting discounts, commissions, and other expenses, according to a press release.

The offering included 4,714,285 shares sold through the full exercise of the underwriters' option to purchase additional shares. All shares were sold by Erasca.

The company said it intends to use the 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 served as joint book-running managers for the offering.

The shares were offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on July 13, 2026, which became effective automatically upon filing.