NASDAQ$ERAS
Erasca Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported financial results for the third quarter of 2023 and provided business updates.
Erasca reported a net loss of $30.4 million, or $(0.20) per share, for the quarter ended September 30, 2023. The company's cash, cash equivalents, and marketable securities were $343.6 million as of September 30, 2023, which is expected to fund operations into the second half of 2025.
- First patient dosed in SEACRAFT-1 Phase 1b trial evaluating naporafenib plus trametinib.
- Identified promising activity in HERKULES-3 signal-seeking study of ERAS-007 in combination with encorafenib and cetuximab in EC-naïve patients with BRAFm CRC.
- Multiple upcoming catalysts across ongoing clinical programs.
- Strong balance sheet with cash, cash equivalents, and marketable securities of $344 million as of September 30, 2023.
Headline financials
Revenue & EPS history
Erasca · Revenue · Quarterly
$0
Forward guidance
Erasca expects its current cash, cash equivalents, and marketable securities balance to fund operations into the second half of 2025.
Tailwinds
- Ability to execute on the upcoming near-term catalysts for our clinical programs
- Potential therapeutic benefits and safety profile of our product candidates, including naporafenib, ERAS-007, ERAS-601, and ERAS-801
- Planned advancement of our development pipeline, including the anticipated timing of the first patient dosing in the SEACRAFT-2 trial
- Anticipated timing of data readouts for the SEACRAFT-1, HERKULES-3, FLAGSHP-1, and THUNDERBBOLT-1 trials, and other upcoming development milestones
- Expectation that our current cash, cash equivalents, and marketable securities will fund our operations into the second half of 2025
Headwinds
- Approach to the discovery and development of product candidates based on our singular focus on shutting down the RAS/MAPK pathway, a novel and unproven approach
- Potential delays in the commencement, enrollment, data readouts, and completion of clinical trials and preclinical studies
- Dependence on third parties in connection with manufacturing, research, and preclinical and clinical testing
- Unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval, and/or commercialization, or may result in recalls or product liability claims
- Unfavorable results from preclinical studies or clinical trials
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 Q3 2023
+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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro