Erasca Q3 loss widens as R&D spending rises

Overview

• US precision oncology firm's Q3 net loss widened yr/yr as R&D spending increased

• Company ended Q3 with $948 mln in cash, up from $342 mln at 2025 year-end

• Erasca received FDA Fast Track Designation for ERAS-0015 in metastatic pancreatic cancer

Outlook

• Erasca expects preliminary Phase 1 monotherapy data for ERAS-4001 in H2 2026

• Erasca expects Phase 1 monotherapy expansion data for ERAS-0015 in H1 2027

• Company expects to initiate a Phase 3 pivotal trial in first line PDAC in 2027

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by increased clinical trials, preclinical studies, and personnel costs

• FDA FAST TRACK - ERAS-0015 received FDA Fast Track Designation for metastatic pancreatic cancer, enabling more frequent FDA interactions as the program advances

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Erasca, Inc. is $22.00, about 31% above its November 11 closing price of $16.80

Reuters Recommended Reads

• Nov 12 - 4D Molecular Therapeutics Q3 net loss widens on higher costs

• Nov 12 - SELLAS Life Sciences Q3 net loss widens on higher R&D costs

• Nov 12 - Kodiak Sciences Q3 net loss widens as R&D expenses rise

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)