Erasca, Inc. Files Q3 2024 10-Q Report
Ticker: ERAS · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 1761918
Sentiment: neutral
Topics: 10-Q, pharmaceutical, financials
TL;DR
Erasca's Q3 10-Q is in. Check financials and business updates.
AI Summary
Erasca, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results and provided updates on its business activities. Key financial data and operational highlights are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Erasca, Inc., crucial for understanding the company's trajectory in the pharmaceutical sector.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Erasca faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-11-12 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Erasca, Inc. (company) — Filer of the 10-Q report
- 2024-09-30 (date) — End of the reporting period
- Medshine Discovery Inc. (company) — Mentioned in relation to a license agreement
- San Diego, CA (location) — Company's business and mailing address
FAQ
What is the primary business of Erasca, Inc.?
Erasca, Inc. is primarily involved in the pharmaceutical preparations industry, as indicated by its SIC code [2834].
What is the reporting period for this 10-Q filing?
The conforming period of report is 20240930, meaning the filing covers the quarter ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q filing was made on November 12, 2024.
Does the filing mention any specific agreements or collaborations?
Yes, the filing mentions Eras:MedshineLicenseAgreementMember in relation to Medshine Discovery Inc., with a period of activity from 2024-05-01 to 2024-05-31.
What is Erasca, Inc.'s fiscal year end?
Erasca, Inc.'s fiscal year ends on December 31.
Filing Stats: 4,451 words · 18 min read · ~15 pages · Grade level 18 · Accepted 2024-11-12 16:21:22
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ERAS Nasdaq Glo
Filing Documents
- eras-20240930.htm (10-Q) — 2090KB
- eras-ex31_1.htm (EX-31.1) — 15KB
- eras-ex31_2.htm (EX-31.2) — 15KB
- eras-ex32_1.htm (EX-32.1) — 8KB
- eras-ex32_2.htm (EX-32.2) — 8KB
- img199616404_0.jpg (GRAPHIC) — 214KB
- 0000950170-24-125481.txt ( ) — 9805KB
- eras-20240930.xsd (EX-101.SCH) — 1257KB
- eras-20240930_htm.xml (XML) — 1858KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 38 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
. Financial Statements
Item 1 . Financial Statements. Erasca, Inc. Condensed Consolidated Balance Sheets (In thousands, except share and par value amounts) (Unaudited) 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 The accompanying notes are an integral part of these condensed consolidated financi