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Erasca Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

SAN DIEGO, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Erasca, Inc. (NASDAQ:ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced that it has closed its previously announced upsized public offering of 25,875,000 shares of its common stock, including 3,375,000 shares sold pursuant to the underwriters' full exercise of their option to purchase additional shares. The shares of common stock were sold to the public at a price of $10.00 per share. The gross proceeds to Erasca from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $258.8 million. All of the shares of common stock sold in the public offering were sold by Erasca.

Erasca intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to fund the research and development of its product candidates and other development programs and for working capital and other general corporate purposes.

J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI acted as joint book-running managers for the offering.

The securities described above were offered by Erasca pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (SEC) and was declared effective on August 22, 2025.

A final prospectus supplement relating to this ...