Erasca raises $45M in oversubscribed private placement at $2.06/share

Erasca, Inc.

Sold 21,844,660 shares at $2.06 each to institutional investors; gross proceeds ~$45M.
Private placement led by new and existing healthcare investors; BofA Securities acted as placement agent.
Expected closing on or about April 2, 2024, subject to customary closing conditions.
Proceeds to fund R&D, working capital; combined cash expected to fund operations into H2 2026.
Press release highlights naporafenib plus trametinib data showing 13-14 months median OS in NRAS-mutant melanoma.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Erasca, Inc. entered into Purchase Agreement with the purchasers named therein (the "Purchasers") valued at approximately $45 million (effective 2024-03-27).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers named therein (the "Purchasers")
Value: approximately $45 million
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Erasca, Inc. (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of 21,844,660 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a price of $2.06 per Share. The aggregate gross proceeds for the Private Placement are expected to be approximately $45 million, before deducting offering fees and expenses.

View on SEC.gov

458 material agreements filed in the last 30 days. Browse all material agreements →

Erasca, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-080630

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.