Business
Erasca Reports Fourth Quarter 2021 Financial Results and Business Updates
Five ongoing clinical trials evaluating candidates ERAS-007 (ERKi), ERAS-601 (SHP2i), and ERAS-801 (CNS-penetrant EGFRi) Initial Phase 1b data for HERKULES-1
About this update from Erasca, Inc.
[{"type":"text","content":"Five ongoing clinical trials evaluating candidates ERAS-007 (ERKi), ERAS-601 (SHP2i), and ERAS-801 (CNS-penetrant EGFRi) Initial Phase 1b data for HERKULES-1 and Phase 1 data for FLAGSHP-1 expected in H2 2022 Robust balance sheet with cash of $459 million SAN DIEGO, March 24, 2022 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today reported financial results for the fiscal quarter ended December 31, 2021, and provided business updates. “Erasca capped off a productive year by achieving all of our 2021 clinical and corporate milestones on or ahead of schedule,” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “We initiated three HERKULES clinical trials in 2021 evaluating our ERK1/2 inhibitor ERAS-007 across tissue agnostic and tissue specific indications. We announced earlier this month that we entered into a clinical trial collaboration and supply agreement (CTCSA) with Lilly for the EGFR antibody cetuximab, which complements our previously announced CTCSA with Pfizer for the BRAF inhibitor encorafenib. ERAS-007 is being added to the standard of care regimen of encorafenib plus cetuximab in patients with BRAF V600E-mutant metastatic colorectal cancer as part of our ongoing HERKULES-3 trial, and we are excited about these agreements with Pfizer and Lilly. We will expand the evaluation of ERAS-007 into blood cancers with HERKULES-4, a master protocol for the treatment of patients with hematological malignancies with initial focus in acute myeloid leukemia (AML).” Dr. Lim continued, “Our CNS-penetrant product candidates continued to advance well in 2021. First, in June 2021, we nominated ERAS-3490, a highly CNS-penetrant KRAS G12C inhibitor and our first homegrown development candidate. This molecule was specifically designed to cross the blood-brain barrier to address the propensity of non-small cell lung cancer to metastasize to the brain, and we are currently on track for an IND filing in the second half of 2022. Second, we were pleased to receive IND clearance of ERAS-801 for the treatment of patients with recurrent glioblastoma multiforme a quarter earlier than expected, and we dosed the first patient in THUNDERBBOLT-1 last month. ERAS-...