NASDAQ$ERAS
Erasca Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported positive Phase 1b data in SEACRAFT-1 NRASm melanoma cohort and strong execution across RAS targeting franchise.
Erasca reported positive preliminary Phase 1b data in SEACRAFT-1 NRASm melanoma cohort, bolstering conviction in the ongoing SEACRAFT-2 registrational trial. The company's RAS targeting franchise is on track with planned IND submissions, and a robust balance sheet with $463 million in cash is expected to fund operations into H1 2027.
- Positive preliminary Phase 1b data from SEACRAFT-1 refined clinical development focus on NRASm melanoma.
- SEACRAFT-2 registrational trial targeting NRASm melanoma has potential for approval based on high unmet need.
- RAS targeting franchise, including ERAS-0015 and ERAS-4001, holds significant promise for RASm solid tumors.
- Cash runway is anticipated into the first half of 2027.
Headline financials
Revenue & EPS history
Erasca · Revenue · Quarterly
$361K
Forward guidance
Erasca anticipates a cash runway into the first half of 2027 and expects to report randomized dose optimization data from Stage 1 of the SEACRAFT-2 Phase 3 trial in 2025.
Tailwinds
- Potential therapeutic benefits of product candidates.
- Advancement of development pipeline.
- Timing of data readouts for the SEACRAFT-2, AURORAS-1, and BOREALIS-1 trials.
- Alignment with regulatory authorities on the regulatory pathway for naporafenib.
- Ability to obtain and maintain intellectual property protection for product candidates.
Headwinds
- Approach to the discovery and development of product candidates based on singular focus on shutting down the RAS/MAPK pathway.
- Results from preclinical studies or early clinical trials not necessarily being predictive of future results.
- Planned SEACRAFT trials may not support the registration of naporafenib.
- Potential delays in the commencement, enrollment, data readout, and completion of clinical trials and preclinical studies.
- Unexpected adverse side effects or inadequate efficacy of product candidates that may limit their development, regulatory approval, and/or commercialization, or may result in recalls or product liability claims.
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 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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