Erasca prices $550 million stock offering at $17.50 per share

Erasca, Inc. entered into an underwriting agreement on July 13, 2026 with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies LLC and Evercore Group L.L.C. covering the issuance and sale of 31,428,572 shares of the company's common stock at an offering price to the public of $17.50 per share.¹ The underwriters agreed to purchase the shares from Erasca at $16.45 per share.¹

The deal also gives underwriters a 30-day option to buy up to 4,714,285 additional shares at the public offering price, minus underwriting discounts and commissions.¹ Erasca said net proceeds are expected to be about $516.0 million, or roughly $593.5 million if the option is fully exercised, after deducting underwriting discounts, commissions and estimated offering expenses.¹ The company said the offering is expected to close on July 15, 2026, subject to customary closing conditions.¹

Erasca plans to direct the money, combined with cash on hand, toward its oncology pipeline and corporate needs, to fund research and development of its product candidates and other development programs, plus working capital and other general corporate purposes.² It may also use part of the remaining proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets, though it has no current commitments to do so.²

The sale draws on Erasca's existing shelf filing. The offering is being made under the company's Form S-3 shelf registration, No. 333-297427, which took effect automatically upon its SEC filing on July 13, 2026, together with the related prospectus supplement.¹ Latham & Watkins LLP provided the legal opinion on the share issuance, filed as an exhibit to the 8-K.