Erasca Inc

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 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.

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Contents

Financial Statements (Unaudited)Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023

Item 1. Financial Statements.

Condensed Consolidated Balance Sheets

(In thousands, except share and par value amounts)

	September 30,	December 31,
	2024	2023
Assets
Current assets:
Cash and cash equivalents	$68,885	$93,075
Short-term marketable securities	250,027	219,275
Prepaid expenses and other current assets	11,262	8,326
Total current assets	330,174	320,676
Long-term marketable securities	144,391	9,642
Property and equipment, net	17,153	22,327
Operating lease assets	32,891	37,861
Restricted cash	408	408
Other assets	3,879	4,383
Total assets	$528,896	$395,297
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$2,405	$2,000
Accrued expenses and other current liabilities	23,170	20,186
Operating lease liabilities	4,450	3,970
Total current liabilities	30,025	26,156
Operating lease liabilities, net of current portion	48,489	51,889
Other liabilities	340	566
Total liabilities	78,854	78,611
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.0001 par value; 80,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023	—	—
Common stock, $0.0001 par value; 800,000,000 shares authorized at September 30, 2024 and December 31, 2023; 282,690,975 shares issued and outstanding at September 30, 2024; 151,462,103 and 151,090,227 shares issued and outstanding at December 31, 2023, respectively	28	15
Additional paid-in capital	1,183,620	922,607
Accumulated other comprehensive income	1,825	77
Accumulated deficit	(735,431)	(606,013)
Total stockholders' equity	450,042	316,686
Total liabilities and stockholders' equity	$528,896	$395,297

Condensed Consolidated Statements of Operationsand Comprehensive Loss

(In thousands, except share and per share amounts)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Operating expenses:
Research and development	$27,631	$25,213	$89,237	$79,016
In-process research and development	—	—	22,500	—
General and administrative	9,611	9,445	32,138	28,637
Total operating expenses	37,242	34,658	143,875	107,653
Loss from operations	(37,242)	(34,658)	(143,875)	(107,653)
Other income (expense)
Interest income	5,869	4,346	14,810	12,474
Other income (expense), net	173	(49)	(353)	(162)
Total other income (expense), net	6,042	4,297	14,457	12,312
Net loss	$(31,200)	$(30,361)	$(129,418)	$(95,341)
Net loss per share, basic and diluted	$(0.11)	$(0.20)	$(0.60)	$(0.64)
Weighted-average shares of common stock used in computing net loss per share, basic and diluted	282,384,964	150,450,201	217,355,959	150,000,613
Other comprehensive income (loss):
Unrealized gain on marketable securities, net	2,021	218	1,748	466
Comprehensive loss	$(29,179)	$(30,143)	$(127,670)	$(94,875)

Condensed Consolidated Statements of Stock holders’ Equity

(In thousands, except share data)

Accumulated
Additional · Other · Total
Common Stock · Paid-in · Comprehensive · Accumulated · Stockholders'
	Shares	Amount	Capital	Income (Loss)	Deficit	Equity
Balance at December 31, 2023	151,462,103	$15	$922,607	$77	$(606,013)	$316,686
Exercise of stock options	35,035	—	24	—	—	24
Vesting of early exercised stock options	—	—	155	—	—	155
Stock-based compensation expense	—	—	6,848	—	—	6,848
Net loss	—	—	—	—	(35,017)	(35,017)
Unrealized loss on marketable securities, net	—	—	—	(287)	—	(287)
Balance at March 31, 2024	151,497,138	$15	$929,634	$(210)	$(641,030)	$288,409
Issuance of common stock in private placement, net of $1,396 in fees and expenses	21,844,660	2	43,602	—	—	43,604
Issuance of common stock in underwritten offering, net of $9,574 in discounts and offering costs	99,459,458	10	174,416	—	—	174,426
Exercise of stock options	110,258	—	105	—	—	105
Issuance of common stock under the Employee Stock Purchase Plan	252,444	—	395	—	—	395
Vesting of early exercised stock options	—	—	155	—	—	155
Stock-based compensation expense	—	—	7,180	—	—	7,180
Net loss	—	—	—	—	(63,201)	(63,201)
Unrealized gain on marketable securities, net	—	—	—	14	—	14
Balance at June 30, 2024	273,163,958	$27	$1,155,487	$(196)	$(704,231)	$451,087
Issuance of common stock in ATM offering, net of $847 in commissions and expenses	9,231,114	1	21,030	—	—	21,031
Exercise of stock options	295,903	—	311	—	—	311
Vesting of early exercised stock options	—	—	155	—	—	155
Stock-based compensation expense	—	—	6,637	—	—	6,637
Net loss	—	—	—	—	(31,200)	(31,200)
Unrealized gain on marketable securities, net	—	—	—	2,021	—	2,021
Balance at September 30, 2024	282,690,975	$28	$1,183,620	$1,825	$(735,431)	$450,042

Condensed Consolidated Statements of Stockholders’ Equity - Continued

(In thousands, except share data)

Accumulated
Additional · Other · Total
Common Stock · Paid-in · Comprehensive · Accumulated · Stockholders'
	Shares	Amount	Capital	Income (Loss)	Deficit	Equity
Balance at December 31, 2022	150,448,363	$15	$893,850	$(1,041)	$(480,971)	$411,853
Exercise of stock options	199,344	—	183	—	—	183
Vesting of early exercised stock options	—	—	243	—	—	243
Stock-based compensation expense	—	—	6,845	—	—	6,845
Net loss	—	—	—	—	(33,199)	(33,199)
Unrealized gain on marketable securities, net	—	—	—	527	—	527
Balance at March 31, 2023	150,647,707	$15	$901,121	$(514)	$(514,170)	$386,452
Exercise of stock options	170,715	—	122	—	—	122
Issuance of common stock under the Employee Stock Purchase Plan	223,696	—	527	—	—	527
Vesting of early exercised stock options	—	—	652	—	—	652
Stock-based compensation expense	—	—	7,012	—	—	7,012
Net loss	—	—	—	—	(31,781)	(31,781)
Unrealized loss on marketable securities, net	—	—	—	(279)	—	(279)
Balance at June 30, 2023	151,042,118	$15	$909,434	$(793)	$(545,951)	$362,705
Exercise of stock options	11,000	—	7	—	—	7
Vesting of early exercised stock options	—	—	168	—	—	168
Stock-based compensation expense	—	—	6,238	—	—	6,238
Net loss	—	—	—	—	(30,361)	(30,361)
Unrealized gain on marketable securities, net	—	—	—	218	—	218
Balance at September 30, 2023	151,053,118	$15	$915,847	$(575)	$(576,312)	$338,975

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