NASDAQ$ERAS
Erasca Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Erasca's second quarter of 2024 was marked by the in-licensing of RAS-targeting molecules and the initiation of the SEACRAFT-2 Phase 3 trial.
Erasca reported a net loss of $63.2 million for the second quarter of 2024. The company initiated the SEACRAFT-2 Phase 3 trial and in-licensed two preclinical RAS programs. They also extended their cash runway into the first half of 2027 with $460.2 million in cash, cash equivalents, and marketable securities as of June 30, 2024.
- Initiated SEACRAFT-2 registrational trial in patients with NRASm melanoma.
- In-licensed potential best-in-class pan-RAS molecular glue ERAS-0015 and potential first-in-class pan-KRAS inhibitor ERAS-4001.
- Extended cash runway into H1 2027 with $460.2 million in cash, cash equivalents, and marketable securities as of June 30, 2024.
- Initial Phase 1b combination signal-seeking efficacy data from SEACRAFT-1 expected in Q4 2024.
Headline financials
Revenue & EPS history
Erasca · Revenue · Quarterly
$132K
Forward guidance
Erasca anticipates several key milestones, including data readouts from SEACRAFT-1 and SEACRAFT-2 trials, and IND filings for AURORAS-1 and BOREALIS-1 trials.
Tailwinds
- Initial Phase 1b combination signal-seeking efficacy data in relevant tumor types expected to be reported in Q4 2024 from SEACRAFT-1.
- Phase 3 Stage 1 randomized dose optimization data expected to be reported in 2025 from SEACRAFT-2.
- IND filing expected in H1 2025 for AURORAS-1.
- Initial Phase 1 monotherapy data in relevant tumor types expected to be reported in 2026 from AURORAS-1.
- IND filing expected in Q1 2025 for BOREALIS-1.
Headwinds
- Potential delays in the commencement, enrollment, data readout of clinical trials.
- Unexpected adverse side effects or inadequate efficacy of product candidates.
- Unfavorable results from preclinical studies or clinical trials.
- Inability to realize any benefits from current licenses, acquisitions, and collaborations.
- Dependence on third parties in connection with manufacturing, research, and preclinical and clinical testing.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2024
+1.1%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.3%
Avg return
30 days after
58%
11 / 19 earnings
Positive
+11.0%
Q3 2022
Best reaction
-10.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | +1.0% | +32.1% | |
| Q4 2025 | -4.3% | -7.8% | +16.1% | |
| Q3 2025 | -4.2% | +7.9% | +35.8% | |
| Q1 2025 | -4.0% | -5.8% | +9.3% | |
| Q4 2024 | +6.0% | -8.2% | +25.0% | |
| Q3 2024 | -8.4% | -14.1% | -15.4% | |
| Q2 2024 | +8.3% | +16.7% | +27.9% | |
| Q1 2024 | -10.1% | -12.8% | +8.9% | |
| Q4 2023 | +4.0% | +9.1% | -4.5% | |
| Q3 2023 | -8.6% | -1.8% | -15.0% | |
| Q2 2023 | +10.6% | -3.2% | -0.8% | |
| Q1 2023 | -1.0% | -3.8% | -5.6% | |
| Q4 2022 | -2.7% | -5.8% | -3.8% | |
| Q3 2022 | +11.0% | +20.7% | -19.1% | |
| Q2 2022 | +2.5% | +4.4% | -10.8% | |
| Q1 2022 | +2.8% | +9.4% | -4.6% | |
| Q4 2021 | +9.1% | +8.1% | -9.7% | |
| Q3 2021 | +2.2% | -3.1% | -28.9% | |
| Q2 2021 | +4.8% | +8.9% | -12.3% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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