Erasca Inc
For the period ended Jun 30, 2024. Filed Aug 12, 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.
Jun 30, 2024 · Filed Aug 12, 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 June 30, 2024 and December 31, 2023
Item 1. Financial Statements.
Condensed Consolidated Balance Sheets
(In thousands, except share and par value amounts)
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $172,802 | $93,075 |
| Short-term marketable securities | 235,610 | 219,275 |
| Prepaid expenses and other current assets | 9,593 | 8,326 |
| Total current assets | 418,005 | 320,676 |
| Long-term marketable securities | 51,836 | 9,642 |
| Property and equipment, net | 17,990 | 22,327 |
| Operating lease assets | 33,546 | 37,861 |
| Restricted cash | 408 | 408 |
| Other assets | 3,959 | 4,383 |
| Total assets | $525,744 | $395,297 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $2,142 | $2,000 |
| Accrued expenses and other current liabilities | 18,465 | 20,186 |
| Operating lease liabilities | 4,286 | 3,970 |
| Total current liabilities | 24,893 | 26,156 |
| Operating lease liabilities, net of current portion | 49,682 | 51,889 |
| Other liabilities | 82 | 566 |
| Total liabilities | 74,657 | 78,611 |
| Commitments and contingencies (Note 11) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.0001 par value; 80,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued and outstanding at June 30, 2024 and December 31, 2023 | — | — |
| Common stock, $0.0001 par value; 800,000,000 shares authorized at June 30, 2024 and December 31, 2023; 273,163,958 and 151,462,103 shares issued at June 30, 2024 and December 31, 2023, respectively; 273,039,997 and 151,090,227 shares outstanding at June 30, 2024 and December 31, 2023, respectively | 27 | 15 |
| Additional paid-in capital | 1,155,487 | 922,607 |
| Accumulated other comprehensive (loss) income | (196) | 77 |
| Accumulated deficit | (704,231) | (606,013) |
| Total stockholders' equity | 451,087 | 316,686 |
| Total liabilities and stockholders' equity | $525,744 | $395,297 |
Condensed Consolidated Statements of Operationsand Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Operating expenses: | ||||
| Research and development | $33,032 | $26,218 | $61,606 | $53,803 |
| In-process research and development | 22,500 | — | 22,500 | — |
| General and administrative | 12,250 | 9,752 | 22,527 | 19,192 |
| Total operating expenses | 67,782 | 35,970 | 106,633 | 72,995 |
| Loss from operations | (67,782) | (35,970) | (106,633) | (72,995) |
| Other income (expense) | ||||
| Interest income | 5,041 | 4,251 | 8,941 | 8,128 |
| Other expense, net | (460) | (62) | (526) | (113) |
| Total other income (expense), net | 4,581 | 4,189 | 8,415 | 8,015 |
| Net loss | $(63,201) | $(31,781) | $(98,218) | $(64,980) |
| Net loss per share, basic and diluted | $(0.29) | $(0.21) | $(0.53) | $(0.43) |
| Weighted-average shares of common stock used in computing net loss per share, basic and diluted | 217,806,567 | 150,037,029 | 184,484,154 | 149,772,093 |
| Other comprehensive income (loss): | ||||
| Unrealized gain (loss) on marketable securities, net | 14 | (279) | (273) | 248 |
| Comprehensive loss | $(63,187) | $(32,060) | $(98,491) | $(64,732) |
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