Erasca (ERAS) prices $100M public offering and issues $80M stock to Novartis under license

Erasca, Inc.

Underwritten offering of 15,384,616 shares at $6.50/share; net proceeds ~$94.7M; expected close Dec 13, 2022.
Private placement to Novartis of 12,307,692 shares at $6.50/share as partial consideration for exclusive license agreement.
J.P. Morgan and Goldman Sachs are joint book-running managers for the public offering.
Proceeds to fund R&D of RAS/MAPK pathway programs and general corporate purposes.

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