Erasca, Inc. Files 2023 Annual Report on Form 10-K

Ticker: ERAS · Form: 10-K · Filed: Mar 27, 2024 · CIK: 1761918

Sentiment: neutral

Topics: 10-K, Erasca, Pharmaceuticals, Financial Report, SEC Filing

TL;DR

<b>Erasca, Inc. has filed its 2023 annual report (10-K) detailing its financial and operational status.</b>

AI Summary

Erasca, Inc. (ERAS) filed a Annual Report (10-K) with the SEC on March 27, 2024. Erasca, Inc. filed its 2023 Form 10-K on March 27, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. Its principal business address is located at 10835 Road to the Cure, Suite 140, San Diego, CA 92121. The SIC code for Erasca, Inc. is 2834 (Pharmaceutical Preparations). The filing covers the fiscal year ending December 31, 2023.

Why It Matters

For investors and stakeholders tracking Erasca, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Erasca's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed information within the filing, including financial statements and risk disclosures, is essential for stakeholders to make informed investment decisions and understand the company's strategic direction and potential challenges.

Risk Assessment

Risk Level: medium — Erasca, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical preparations industry, which is subject to significant regulatory oversight, lengthy development cycles, and substantial R&D costs, posing inherent risks to financial performance and market success.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Erasca's financial health and the specific challenges it faces in the pharmaceutical sector.

Key Numbers

Key Players & Entities

FAQ

When did Erasca, Inc. file this 10-K?

Erasca, Inc. filed this Annual Report (10-K) with the SEC on March 27, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Erasca, Inc. (ERAS).

Where can I read the original 10-K filing from Erasca, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Erasca, Inc..

What are the key takeaways from Erasca, Inc.'s 10-K?

Erasca, Inc. filed this 10-K on March 27, 2024. Key takeaways: Erasca, Inc. filed its 2023 Form 10-K on March 27, 2024.. The company is incorporated in Delaware and its fiscal year ends on December 31.. Its principal business address is located at 10835 Road to the Cure, Suite 140, San Diego, CA 92121..

Is Erasca, Inc. a risky investment based on this filing?

Based on this 10-K, Erasca, Inc. presents a moderate-risk profile. The company is in the pharmaceutical preparations industry, which is subject to significant regulatory oversight, lengthy development cycles, and substantial R&D costs, posing inherent risks to financial performance and market success.

What should investors do after reading Erasca, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand Erasca's financial health and the specific challenges it faces in the pharmaceutical sector. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Filing Stats: 4,455 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-03-27 16:15:13

Key Financial Figures

Filing Documents

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 65 Item 1B. Unresolved Staff Comments 115 Item 1C. Cybersecurity 115 Item 2.

Properties

Properties 117 Item 3.

Legal Proceedings

Legal Proceedings 117 Item 4. Mine Safety Disclosures 117 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 118 Item 6. [Reserved] 118 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 119 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 130 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 131 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 131 Item 9A.

Controls and Procedures

Controls and Procedures 131 Item 9B. Other Information 132 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 132 PART III Item 10. Directors, Executive Officers and Corporate Governance 132 Item 11.

Executive Compensation

Executive Compensation 132 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 132 Item 13. Certain Relationships and Related Transactions, and Director Independence 132 Item 14. Principal Accounting Fees and Services 132 PART IV Item 15. Exhibits, Financial Statement Schedules 133 Item 16 Form 10-K Summary 133 i PA RT I

Forward-Looking Statements and Market Data

Forward-Looking Statements and Market Data This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), and Section 27A of the Securities Act of 1933, as amended (the Securities Act). All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our future results of operations and financial position, business strategy, research and development plans, the anticipated timing, costs, design and conduct of our ongoing and planned preclinical studies and planned clinical trials for our product candidates, the timing and likelihood of regulatory filings and approvals for our product candidates, our ability to commercialize our product candidates, if approved, the impact of global geopolitical and economic events and war on our business, the pricing and reimbursement of our product candidates, if approved, the potential to develop future product candidates, the potential benefits of current and future licenses, acquisitions, and strategic arrangements with third parties, and our intent to enter into any future strategic arrangements, the timing and likelihood of success, plans and objectives of management for future operations, and future results of anticipated product development efforts, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. This Annual Report on Form 10-K also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give und

Business

Item 1. Business. Overview At Erasca, our name is our mission: to eras e ca ncer. We are a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Molecular alterations in RAS, the most frequently mutated oncogene, and the MAPK pathway, one of the most frequently altered signaling pathways in cancer, account for approximately 5.4 million new patients diagnosed with cancer globally each year. Our company was co-founded by leading pioneers in precision oncology and RAS targeting to create novel therapies and combination regimens designed to comprehensively shut down the RAS/MAPK pathway for the treatment of cancer. We have assembled one of the deepest, wholly-owned or controlled RAS/MAPK pathway-focused pipelines in the industry, which is focused on modality-agnostic programs aligned with our three therapeutic strategies of: (1) targeting key upstream and downstream signaling nodes in the RAS/MAPK pathway; (2) targeting RAS directly; and (3) targeting escape routes that emerge in response to treatment. The target breadth and molecular diversity represented in our pipeline enable us to pursue a systematic, data-driven, portfolio-wide clinical development effort to identify single agent and combination approaches with the goal of prolonging survival in numerous patient populations with high unmet medical needs. Our modality-agnostic approach aims to allow us to selectively and potently target critical signaling nodes with the most appropriate modality, including small molecule therapeutics and large molecule therapeutics. Our purpose-built pipeline includes three clinical-stage programs (a pan-RAF inhibitor, an ERK inhibitor, and a central nervous system (CNS)-penetrant EGFR inhibitor), and additional discovery-stage programs targeting other key oncogenic drivers. We believe our world-class team's capabilities and experience, further guided by our sc

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