Erasca reports Q4/FY2022 net loss of $135.3M/$242.8M; licensed naporafenib from Novartis, raised $100M equity

Erasca, Inc.

Net loss Q4 2022 $135.3M (incl. $100M in-process R&D for naporafenib license); FY2022 net loss $242.8M ($1.99/share).
Cash, cash equivalents & marketable securities $435.6M at Dec 31, 2022; expected runway into H2 2025.
Completed $100M underwritten equity offering (15.4M shares at $6.50) in Dec 2022 concurrent with naporafenib license.
Multiple data readouts planned in 2023 for ERAS-007, ERAS-601, ERAS-801; naporafenib Phase 1b (SEACRAFT-1) starts H2 2023.
R&D expenses FY2022 $112.5M (up 52% YoY) driven by license payments and clinical progress.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Erasca, Inc. reported financial results for the fiscal year ended December 31, 2022.

Period: the fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 23, 2023, Erasca, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Erasca, Inc. reported financial results for the fourth quarter ended December 31, 2022.

Period: the fourth quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On March 23, 2023, Erasca, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2022.

View on SEC.gov

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Source: SEC EDGAR

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