Erasca Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
ERAS$14.41+8.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Financial Statements (Unaudited)Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023
Item 1. Financial Statements.
Condensed Consolidated Balance Sheets
(In thousands, except share and par value amounts)
| March 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $76,726 | $93,075 |
| Short-term marketable securities | 220,959 | 219,275 |
| Prepaid expenses and other current assets | 8,938 | 8,326 |
| Total current assets | 306,623 | 320,676 |
| Long-term marketable securities | — | 9,642 |
| Property and equipment, net | 21,358 | 22,327 |
| Operating lease assets | 37,177 | 37,861 |
| Restricted cash | 408 | 408 |
| Other assets | 4,456 | 4,383 |
| Total assets | $370,022 | $395,297 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $2,633 | $2,000 |
| Accrued expenses and other current liabilities | 16,577 | 20,186 |
| Proceeds from prepayment of private placement | 6,907 | — |
| Operating lease liabilities | 4,126 | 3,970 |
| Total current liabilities | 30,243 | 26,156 |
| Operating lease liabilities, net of current portion | 50,811 | 51,889 |
| Other liabilities | 559 | 566 |
| Total liabilities | 81,613 | 78,611 |
| Commitments and contingencies (Note 11) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.0001 par value; 80,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Common stock, $0.0001 par value; 800,000,000 shares authorized at March 31, 2024 and December 31, 2023; 151,497,138 and 151,462,103 shares issued at March 31, 2024 and December 31, 2023, respectively; 151,249,219 and 151,090,227 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 15 | 15 |
| Additional paid-in capital | 929,634 | 922,607 |
| Accumulated other comprehensive (loss) income | (210) | 77 |
| Accumulated deficit | (641,030) | (606,013) |
| Total stockholders' equity | 288,409 | 316,686 |
| Total liabilities and stockholders' equity | $370,022 | $395,297 |
Condensed Consolidated Statements of Operationsand Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating expenses: | ||
| Research and development | $28,574 | $27,585 |
| General and administrative | 10,277 | 9,440 |
| Total operating expenses | 38,851 | 37,025 |
| Loss from operations | (38,851) | (37,025) |
| Other income (expense) | ||
| Interest income | 3,900 | 3,877 |
| Other expense, net | (66) | (51) |
| Total other income (expense), net | 3,834 | 3,826 |
| Net loss | $(35,017) | $(33,199) |
| Net loss per share, basic and diluted | $(0.23) | $(0.22) |
| Weighted-average shares of common stock used in computing net loss per share, basic and diluted | 151,161,741 | 149,504,216 |
| Other comprehensive income (loss): | ||
| Unrealized (loss) gain on marketable securities, net | (287) | 527 |
| Comprehensive loss | $(35,304) | $(32,672) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.