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Winner, Winner: The Chicken McNugget Story
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Erasca
Erasca (ERAS) investor relations material
Erasca Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Pipeline centers on ERAS-0015, a pan-RAS molecular glue, and ERAS-4001, a pan-KRAS inhibitor; ERAS-12 is being advanced toward a potential partnership. Naporafenib development ended.
Cash, cash equivalents, and marketable securities totaled $947.8M at September 30, 2026; resources are expected to fund planned operations and stated milestones for at least 12 months.
Financial highlights
Q3 2026 net loss was $51.3M vs. $30.6M in Q3 2025; loss per share was $0.15 vs. $0.11, basic and diluted.
Nine-month net loss was $278.9M vs. $95.5M; operating expenses were $295.1M vs. $108.3M, including a $150.0M Joyo-related IPR&D charge.
Q3 R&D expense was $47.2M vs. $22.5M and G&A was $12.3M vs. $10.1M; nine-month R&D was $110.4M vs. $69.6M.
Nine-month loss per share was $0.87 vs. $0.34.
Outlook and guidance
ERAS-0015 monotherapy expansion and combination dose-escalation data are expected in H1 2027; a potentially registration-enabling 2L+ NSCLC trial is expected to start in H1 2027.
ERAS-0015 Phase 3 trials are expected to start in 1L PDAC in 2027 and RAS-mutant NSCLC from H2 2027 to H1 2028.
ERAS-4001 preliminary Phase 1 safety, tolerability, PK, and initial efficacy data were expected in H2 2026; expansion and combination cohorts are planned for 2027.
Cash resources are expected to fund planned operations and stated clinical milestones for at least 12 months; no product revenue is expected for years, if ever.
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Latest events from Erasca
- ERAS-0015 advances toward pivotal trials as expanded data and combinations approach.ERAS
Stifel 2026 Healthcare Conference 2026 - ERAS-0015 advances toward pivotal trials, backed by expanded data plans and roughly $1 billion in cash.ERAS3rd Annual Guggenheim Healthcare Innovation Conference
- High response rates and strong safety drive global trials and strategic combinations.ERASMorgan Stanley 24th Annual Global Healthcare Conference
- ERAS-0015 delivers strong efficacy and safety in RAS-mutant cancers, advancing toward pivotal trials.ERASCorporate presentation
- Robust cash position and positive clinical data support pivotal trials and milestones in 2027.ERASQ2 2026
- Early clinical milestones, extended cash runway, and strong preclinical data drive optimism.ERASBofA Securities 2025 Healthcare Conference
- ERAS-0015 shows high potency and safety at low doses, with broad development and combination plans.ERASGuggenheim Securities Emerging Outlook: Biotech Summit 2026
- Naporafenib plus trametinib shows strong efficacy in NRAS-mutant melanoma; RAS franchise advances to IND in 2025.ERASR&D Update
- Promising RAS/MAPK-targeted therapies advance with strong data and key milestones ahead.ERAS43rd Annual J.P. Morgan Healthcare Conference 2025
Next Erasca earnings date
Jefferies Global Healthcare Conference18 Nov, 2026
Erasca
Next Erasca earnings date
Jefferies Global Healthcare Conference18 Nov, 2026
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Frequently asked questions
Erasca Inc. is a clinical-stage precision oncology company with a focused mission to develop therapies aimed at eradicating cancer. The company specializes in targeting the RAS/MAPK pathway, one of the most frequently mutated signaling pathways in cancer, which affects millions of lives globally each year. Erasca's research involves a comprehensive strategy to shut down this pathway using a modality-agnostic approach, which includes small molecules, large molecules, and protein degraders. These are developed alone or in combination to treat various types of cancers driven by RAS/MAPK pathway alterations. The company is headquartered in San Diego, California, and its shares are listed on NASDAQ.