What Erasca does

Erasca, Inc. (Nasdaq: ERAS) is a clinical-stage precision oncology company headquartered in San Diego, California, founded in July 2018 by Jonathan E. Lim, M.D. and Kevan Shokat, Ph.D. The company is developing a modality-agnostic pipeline of 11 distinct drug programs targeting the RAS/MAPK signaling cascade — implicated in roughly one-third of all solid tumors and approximately 5.5 million new cancer diagnoses annually worldwide. Erasca organizes its pipeline around three therapeutic strategies: MAPKlamp (clamping oncogenic drivers between upstream SHP2 and downstream ERK inhibitors, e.g., ERAS-601 and ERAS-007), direct RAS targeting (lead assets ERAS-0015, an oral pan-RAS molecular glue forming a RAS-Cyclophilin A complex with claimed 5- to 10-fold potency advantage over RMC-6236; and ERAS-4001, a pan-KRAS inhibitor locking KRAS in its inactive GDP-bound state), and escape-route targeting (ERAS-12 EGFR bispecific, ERAS-801, ERAS-9 SOS1, ERAS-5 ULK, ERAS-11 MYC). Lead assets are being evaluated in two Phase 1 trials: AURORAS-1 (ERAS-0015, RAS-mutant solid tumors) and BOREALIS-1 (ERAS-4001, KRAS-mutant solid tumors), with combinations running alongside panitumumab, Merck's KEYTRUDA, Tango's vopimetostat, and Verastem's VS-7375.

The company has no commercial products and generates no product revenue; operations are funded by equity issuance (approximately $587.8 million raised post-IPO across four rounds, including an upsized $258.8M public offering in January 2026). FY2025 net loss narrowed to $124.5 million from $161.7 million in FY2024, with $341.8M in cash at year-end 2025 and a pro forma $434M supporting runway into H2 2028. Go-to-market today is centered on global clinical trial site recruitment, Key Opinion Leader engagement, and clinical combination collaborations with strategic pharma partners that supply combination agents at no cost; future commercialization will target oncology prescribers and patients across PDAC, NSCLC, and CRC. The company wholly owns Erasca Ventures (an equity investment vehicle) and the Erasca Foundation (a 501(c)(3) established at IPO funded with 1,093,557 shares). Erasca faces material 2026 headwinds: a Grade 5 patient death in the AURORAS-1 trial, an active patent infringement and trade-secret dispute with Revolution Medicines regarding ERAS-0015, and multiple securities class action lawsuits alleging misleading preclinical disclosures.

Name

Erasca

Legal name

Erasca, Inc.

Website

https://erasca.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Erasca is a clinical-stage precision oncology company developing a modality-agnostic pipeline of 11 drug programs targeting the RAS/MAPK pathway for patients with RAS-mutant solid tumors, including pancreatic, lung, and colorectal cancers.

Ownership category

akta.pro rank

Product category

Precision Oncology Drug Development

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Molecular Tumor Boards & Clinical Interpretation Services (HLAAANAD)

akta.pro secondary industry

Clinical Trial Pharmacy & IMP Management at Site (HLAGACAK)

Keywords

• Precision oncology drugs
• RAS/MAPK pathway therapy
• Clinical-stage biopharmaceutical
• Oncology drug pipeline
• Targeted cancer therapeutics

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. No commercial product revenue: Clinical-stage precision oncology company with no commercial products approved; generates no product revenue. Operations funded by capital raised through public equity offerings and private placements. Net loss of $124.5 million for full year 2025, down from $161.7 million in 2024.
2. Public equity financing: Raised approximately $258.8 million through January 2026 upsized public offering of 25,875,000 shares at $10.00 per share; earlier raised approximately $184 million (May 2024 at $1.85/share), $45 million (March 2024 at $2.06/share), and approximately $100 million (December 2022 at $6.50/share)
3. Licensed pan-RAS molecular glue franchise (ERAS-0015): Holds worldwide license to ERAS-0015 from Joyo Pharmatech Co., Ltd. (expanded in March 2026 to include China, Hong Kong, and Macau); potential future royalty/licensing revenue streams tied to commercialization

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels9 records

Core offering

Erasca is a clinical-stage precision oncology biopharmaceutical company developing a modality-agnostic pipeline of 11 investigational drug programs (small molecules, large molecules, protein degraders) that comprehensively target the RAS/MAPK signaling cascade across three strategies: MAPKlamp upstream/downstream node inhibition, direct RAS targeting, and escape-route targeting. Lead clinical assets ERAS-0015 (pan-RAS molecular glue) and ERAS-4001 (pan-KRAS inhibitor) are advancing through Phase 1 trials in RAS-mutant solid tumors.

Product overview

Erasca is a clinical-stage precision oncology company offering a modality-agnostic pipeline of investigational drug programs (rather than a single unified product or software platform) targeting the RAS/MAPK pathway across three therapeutic strategies: (1) targeting upstream and downstream MAPK nodes via the MAPKlamp approach with programs such as ERAS-601 (SHP2) and ERAS-007 (ERK); (2) directly targeting RAS with the lead programs ERAS-0015 (a pan-RAS molecular glue) and ERAS-4001 (a pan-KRAS inhibitor), plus discovery-stage ERAS-1 (KRAS G12C) and ERAS-4 (KRAS G12D); and (3) targeting escape routes with programs such as ERAS-12 (EGFR D2/D3 bispecific antibody), ERAS-801 (EGFR), ERAS-9 (SOS1), ERAS-5 (ULK), and ERAS-11 (MYC). The lead clinical assets ERAS-0015 (AURORAS-1 trial) and ERAS-4001 (BOREALIS-1 trial) are being evaluated as monotherapies and in combinations with partners such as Merck (KEYTRUDA), Verastem Oncology (VS-7375), Tango Therapeutics (vopimetostat), and panitumumab.

Differentiator

Problem solved

Functional benefit

Brands

• Erasca Ventures: Wholly-owned subsidiary making equity investments in early-stage biotechnology companies aligned with Erasca's mission and strategy.
• Erasca Foundation

Products and services

• ERAS-0015 ERAS-0015 is Erasca's lead clinical-stage drug candidate, an oral small-molecule pan-RAS molecular glue that forms a RAS-Cyclophilin A protein complex to potently and selectively bind oncogenic RAS alterations (e.g., G12X, G13X +/- Q61X) and block RAS-mediated signaling; evaluated in the AURORAS-1 Phase 1 trial in patients with RAS-mutant solid tumors.
• ERAS-4001 ERAS-4001 is a clinical-stage potent and selective pan-KRAS inhibitor that locks KRAS in the inactive GDP-bound state to provide an improved therapeutic window over RAS inhibitors and prevent KRAS wildtype-mediated resistance; evaluated in the BOREALIS-1 Phase 1 trial.
• ERAS-601 ERAS-601 is an SHP2 inhibitor targeting the upstream MAPK pathway node as part of Erasca's MAPKlamp strategy to clamp oncogenic drivers (RAS, RAF, MEK alterations) trapped between upstream and downstream nodes.
• ERAS-007 ERAS-007 is an ERK inhibitor targeting the downstream MAPK pathway node as part of Erasca's MAPKlamp strategy; has been evaluated in the HERKULES-3 Phase 1b/2 clinical trial in combination with various agents in colorectal cancer patients.
• ERAS-801 ERAS-801 is an EGFR inhibitor representing a key escape route for MAPK signaling that has been evaluated in the THUNDERBBOLT-1 Phase 1 clinical trial in patients with recurrent glioblastoma (GBM).
• ERAS-12 ERAS-12 is a discovery-stage bispecific antibody program targeting EGFR domains D2 and D3, designed to inhibit both the inactive and active conformations of wildtype EGFR in EGFR- and RAS/MAPK-altered tumors.
• ERAS-1 ERAS-1 is a CNS-penetrant inhibitor of KRAS G12C, the only RAS isoform and mutation more commonly present in the inactive RAS-GDP state, developed using structure-based drug design.
• ERAS-4 ERAS-4 is a proprietary compound targeting KRAS G12D, the most prevalent KRAS mutation found more commonly in the active RAS-GTP state.
• ERAS-5 ERAS-5 is an inhibitor targeting ULK, a key regulator of autophagy, intended to shut down an escape route for RAS-driven metabolically active tumors such as pancreatic ductal adenocarcinoma, for use in combination with RAS-targeting agents.
• ERAS-9 ERAS-9 is a SOS1 inhibitor targeting a guanine nucleotide exchange factor that enables RAS to cycle from the inactive GDP state to the active GTP state, addressing escape routes that impact the RAS/MAPK pathway.
• ERAS-11 ERAS-11 targets MYC, a transcription factor and oncogene that is overexpressed in the majority of cancers and serves as a key enabler of RAS/MAPK pathway signaling at the transcriptional level.

Quantifiable outcome

• ERAS-0015 demonstrated 5- to 10-fold greater in vitro and in vivo potency versus comparator pan-RAS molecular glue in preclinical side-by-side comparisons, with 5 to 21 times higher binding affinity and potency versus competitor compound RMC-6236
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Seven partnerships are on record, tiered core, minor, flagship and unclear.

• Verastem OncologycoreStrategic or Co-development Partner · 23 June 2026Intent to collaborate to evaluate Verastem's VS-7375 (an investigational oral KRAS G12D inhibitor) in combination with Erasca's ERAS-0015 pan-RAS molecular glue in advanced KRAS G12D-mutant solid tumors, pending execution of a definitive agreement.
• The Lustgarten FoundationminorGTM or Marketing Partner · 15 June 2026Erasca was honored at the Lustgarten Foundation's annual Inspiring Hope Gala on June 3, 2026 alongside Elizabeth Jaffee and Eileen M. O'Reilly for contributions to advancing pancreatic cancer research. The Foundation is the world's largest private funder of pancreatic cancer research and has invested $333 million in 386 research projects over nearly 28 years.
• MerckflagshipStrategic or Co-development Partner · 11 May 2026Clinical trial collaboration and supply agreement to evaluate Erasca's pan-RAS molecular glue ERAS-0015 in combination with Merck's KEYTRUDA (pembrolizumab) in the AURORAS-1 proof-of-concept study for patients with RAS-mutant solid tumors. Erasca sponsors the study while Merck supplies pembrolizumab at no cost. Targets an annual global patient population of approximately 2.7 million diagnosed with RASm tumors.
• Revolution Medicines, Inc.unclearOthers · 28 April 2026Not a partnership in the traditional sense; Revolution Medicines sent a legal demand letter to Erasca on April 27, 2026 alleging that Erasca's ERAS-0015 pancreatic cancer drug candidate infringes on patent protections for Revolution's drug daraxonrasib (U.S. Patent No. 12,409,225) and that Erasca improperly compared preclinical data. Erasca disclosed the letter in an SEC filing and stated it plans to fight the claims vigorously. The dispute has resulted in multiple securities class action lawsuits against Erasca.
• Joyo Pharmatech Co., Ltd.flagshipOEM/ Whitelabel/ Licensing Partner · 10 March 2026License agreement for ERAS-0015 pan-RAS molecular glue. In March 2026, Erasca exercised option to expand license to include China, Hong Kong, and Macau, securing worldwide rights to ERAS-0015 and enabling unified global development and commercialization strategy with full clinical data control.
• Tango TherapeuticscoreStrategic or Co-development Partner · 5 March 2026Clinical trial collaboration and supply agreement to evaluate Erasca's pan-RAS molecular glue ERAS-0015 in combination with Tango's PRMT5 inhibitor vopimetostat in a Phase 1/2 trial for patients with MTAP-deleted pancreatic cancer or MTAP-deleted RAS-mutant NSCLC. Tango sponsors the trial while Erasca supplies ERAS-0015 at no cost under a mutually non-exclusive agreement.
• Revolution Medicines (Tango combination context)minorOthers · 5 March 2026Referenced as a partner of Tango Therapeutics running a parallel combination trial with vopimetostat (PRMT5 inhibitor) + daraxonrasib (Revolution Medicines' RAS inhibitor); comparable to Erasca's combination trial with vopimetostat + ERAS-0015.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Verastem Oncology: Verastem is developing VS-7375, an oral KRAS G12D inhibitor intended for combination with Erasca's ERAS-0015. Verastem is a focused emerging player in RAS-mutant oncology with overlapping indications in pancreatic and other RAS-mutant tumors.
• Tango Therapeutics: Tango Therapeutics is both an Erasca combination partner (vopimetostat + ERAS-0015) and an emerging precision oncology peer with synthetic-lethality programs including PRMT5 inhibition. Tangentially competing in the same patient populations via combination strategies.
• PMV Pharmaceuticals: PMV Pharma is a clinical-stage precision oncology company developing small molecules that reactivate mutant p53 (e.g., PC14586). Comparable as a similarly-sized clinical-stage precision oncology company with a focused mechanism-driven approach.
• Foghorn Therapeutics: Foghorn Therapeutics is a clinical-stage precision oncology company targeting the chromatin regulatory system, with a pipeline of small molecules. Comparable as a precision oncology peer with multiple programs in development against oncology targets.

Broad incumbents

• Amgen: Amgen developed and commercializes LUMAKRAS (sotorasib), the first FDA-approved KRAS G12C inhibitor. As a broad incumbent in RAS-targeted oncology, Amgen is a major competitor in commercial positioning and combination strategy.
• Bristol-Myers Squibb: BMS owns KRAZATI (via Mirati acquisition) and has deep oncology commercial reach, positioning it as a broad incumbent competing with Erasca's RAS/MAPK pipeline. BMS is also a potential strategic acquirer for pan-RAS assets in the same competitive space.

Direct peers

• Revolution Medicines: Revolution Medicines is Erasca's closest direct competitor, developing RMC-6236 (a pan-RAS(ON) inhibitor) and daraxonrasib (KRAS G12D), and is the comparator in Erasca's own preclinical studies. RevMed and Erasca are currently engaged in active IP/trade-secret litigation over ERAS-0015.
• Mirati Therapeutics: Mirati developed KRAZATI (adagrasib), a KRAS G12C inhibitor, making it a direct KRAS competitor to Erasca's pan-RAS and KRAS programs. Acquired by Bristol-Myers Squibb in 2024, Mirati's portfolio provides a benchmark for RAS-targeting clinical and commercial execution.
• Black Diamond Therapeutics: Black Diamond is a clinical-stage precision oncology company developing a pipeline of targeted therapies against oncogenic driver mutations. Comparable in size, modality mix (small molecules), and clinical-stage risk profile to Erasca.
• Relay Therapeutics: Relay Therapeutics is a clinical-stage precision oncology company developing RLY-4008 (lirafugratinib) and other targeted therapies with a motion-based drug discovery platform. Comparable as a similarly-sized clinical-stage precision oncology peer with pipeline depth and similar burn profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/erasca

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors12 records

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M&A

Investments

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Frequently asked questions about Erasca