Erasca (ERAS) BofA Securities 2025 Healthcare Conference summary

Strategic and financial updates

• IND clearance for ERAS-0015 and IND submission for ERAS-4001 achieved ahead of schedule.

• Seeking a strategic partner for naporafenib to advance its development and commercialization.

• Cash runway extended from H2 2027 to H2 2028, providing over three years of operational funding.

• Over $400 million available to support RAS program advancement.

Pipeline and clinical development

• ERAS-0015 is the lead program, entering phase I AURORAS-1 trial with dose escalation and expansion cohorts.

• ERAS-4001 will move into BOREALIS-1 trial after IND clearance, following a similar clinical schema.

• ERAS-12 is in discovery stage, targeting EGFR with a bispecific antibody.

• Clinical development plan targets both monotherapy and combinations across major and rare tumor types.

Preclinical and mechanistic insights

• ERAS-0015 demonstrates strong preclinical activity, high oral bioavailability, and robust IP protection through 2043.

• ERAS-4001 is KRAS-selective, sparing H/NRAS, with high oral bioavailability and similar IP protection.

• ERAS-0015 shows 8-21x higher CypA binding affinity than RMC-6236, enabling potent RAS inhibition.

• Lower doses of ERAS-0015 achieve comparable or superior tumor regression versus RMC-6236 across multiple models.

• ERAS-0015 effective against challenging mutations like G12R, with strong combination data with anti-PD-1.