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ERASCA ™ Erasca Reports Third Quarter 2021 Financial Results and Business Updates November 10 , 2021 Strong execution leading to four ongoing clinical trials evaluating lead candidates ERAS - 007 ( ERKI ) and ERAS - 601 ( SHP2i ) Named one of Fierce Biotech's " Fierce 15 " most promising biotechnology companies of 2021 Donated $ 17.5 million of common shares to the Erasca Foundation to fund mission - related charitable activities Robust balance sheet with cash of $ 487 million SAN DIEGO , Nov. 10 , 2021 ( 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 reported financial results for the fiscal quarter ended September 30 , 2021 , and provided business updates . " Erasca continued our strong execution this quarter , delivering on key milestones , advancing new clinical trials , and generating exciting preclinical data , " said Jonathan E. Lim , M.D. , Erasca's chairman , CEO , and co - founder . " With the initiation in September of our HERKULES - 2 and -3 trials in non - small cell lung cancer and gastrointestinal malignancies , respectively , we currently have four ongoing clinical trials with multiple clinical data readouts anticipated in 2022. We are excited about recent preclinical data that further support the planned IND filings for ERAS - 801 ( CNS - penetrant EGFR inhibitor for refractory glioblastoma multiforme ) in the first quarter of 2022 and ERAS - 3490 ( CNS - penetrant KRAS G12C inhibitor ) in the second half of 2022. " Dr. Lim continued , " At the corporate level , we are honored to be named one of Fierce Biotech's ' Fierce 15 ' most promising and innovative biotechnology companies of 2021. We remain focused on our mission to erase cancer and believe this mission goes beyond therapeutic development to include a broader social contribution . We were pleased to donate 1 % of our pre - IPO capital stock to the Erasca Foundation in conjunction with the successful completion of our $ 345 million initial public offering in July . The Erasca Foundation was established to fund charitable activities designed to have a positive impact on society , particularly in underserved populations . With our strong cash position supported by top - tier institutional investors , we remain well - positioned to advance the industry's deepest portfolio singularly focused on shutting down the RAS / MAPK pathway and to deliver on our upcoming milestones . " Research and Development ( R & D ) Highlights • Dosed First Patient in HERKULES - 2 Trial : In September 2021 , Erasca dosed the first patient in HERKULES - 2 , a Phase 1b / 2 trial evaluating ERAS - 007 ( ERK1 / 2 inhibitor ) in multiple combinations as part of Erasca's lung cancer master protocol , with a focus on patients with advanced non - small cell lung cancer ( NSCLC ) • Dosed First Patient in HERKULES - 3 Trial : In September 2021 , Erasca dosed the first patient in HERKULES - 3 , a Phase 1b / 2 trial evaluating ERAS - 007 ( ERK1 / 2 inhibitor ) in multiple combinations as part of Erasca's gastrointestinal cancer master protocol , with an initial focus on patients with advanced colorectal cancer ( CRC ) • Presented Preclinical Data for ERAS - 801 : In October 2021 , Erasca announced the presentation of preclinical data for ERAS - 801 , a central nervous system ( CNS ) -penetrant epidermal growth factor receptor ( EGFR ) inhibitor for the treatment of refractory glioblastoma multiforme ( GBM ) , at the American Association for Cancer Research ( AACR ) Special Virtual Conference on Brain Cancer Corporate Highlights • Completed $ 345 Million Initial Public Offering : In July 2021 , Erasca sold 21,562,500 shares of common stock , which included the exercise in full by the underwriters of their option to purchase 2,812,500 shares of common stock , at a public offering price of $ 16 per share . The gross proceeds from the offering were $ 345 million • Named a 2021 " Fierce 15 " Winner : Named one of Fierce Biotech's " Fierce 15 " most promising biotechnology companies of 2021 • Entered into a Clinical Trial Collaboration and Supply Agreement with Pfizer : Pfizer will supply its BRAF inhibitor encorafenib ( BRAFTOVIⓇ ) at no cost in connection with a clinical proof - of - concept study evaluating ERAS - 007 in combination with encorafenib and the EGFR inhibitor cetuximab for the treatment of patients with BRAF V600E - mutant metastatic CRC as part of the ongoing Phase 1b / 2 HERKULES - 3 trial • Contributed to the Erasca Foundation : Issued $ 17.5 million of common shares to the Erasca Foundation to fund charitable activities related to Erasca's mission Key Upcoming Milestones • ERAS - 801 : CNS - penetrant EGFR inhibitor • IND filing expected in first quarter of 2022