Erasca (ERAS) investor relations material

Key clinical data and differentiation

• ERAS-0015, a pan-RAS molecular glue, shows 40%-57% response rates in second-line+ pancreatic cancer and 62%-75% in RAS-driven non-small cell lung cancer at active doses, with strong safety and tolerability profiles.

• Dose proportionality observed from 16-32mg, with minimal increase in adverse events, maintaining a median relative dose intensity of 100%.

• Combination strategies are prioritized, including with pembrolizumab in lung, gemcitabine/Abraxane in pancreatic, and panitumumab in CRC, with ongoing and planned trials.

• Early data supports a wide therapeutic window, enabling both monotherapy and combination approaches without significant toxicity escalation.

• Three registration-enabling trials are planned: monotherapy in lung (1H next year), combination with pembrolizumab (late next year/early 2028), and phase III in first-line pancreatic (2027).

Competitive positioning and strategy

• Confident in global competitive positioning, especially as a second entrant in pancreatic cancer, with global phase III trials planned.

• Combination with anti-EGFR (panitumumab) is central in CRC due to EGFR-mediated resistance; cleared first escalation cohort at full commercial dose.

• Approved RAS therapies shift focus away from second-line pancreatic, but other settings remain open for differentiation.

• Collaboration with Tango Therapeutics (PRMT5 inhibitor) and Merck (pembrolizumab) are capital-light, non-exclusive, and allow broad exploration of combinations.

• Surveillance of emerging RAS-targeting modalities and maintaining focus on execution are emphasized for sustained leadership.

Pipeline and scientific rationale

• Pan-RAS approach preferred for broad RAS pathway shutdown, provided therapeutic window is adequate; combination strategies are key for durability.

• Pan-KRAS (ERAS-4001) phase I monotherapy data expected in the second half of the year, designed to target both GTP- and GDP-bound KRAS, potentially enabling unique combinations.

• Sequencing of broad versus codon-selective agents will depend on safety, efficacy, and resistance patterns; early data supports broad targeting if tolerability is maintained.

• China is integrated into the global development strategy, with both U.S. and China data contributing to filings and global trials.