Business
Erasca Reports Second Quarter 2023 Financial Results and Business Updates
Significant progress across all clinical programs including Phase 1b combo data for ERAS-007 and ERAS-601, FTD and ODD granted for ERAS-801, and publication
About this update from Erasca, Inc.
[{"type":"text","content":"Significant progress across all clinical programs including Phase 1b combo data for ERAS-007 and ERAS-601, FTD and ODD granted for ERAS-801, and publication of naporafenib combination data Multiple meaningful clinical catalysts over the next 18 months and beyond Strong balance sheet with cash, cash equivalents, and marketable securities of $365 million as of June 30, 2023, expected to fund operations into H2 2025 SAN DIEGO, Aug. 10, 2023 (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 June 30, 2023, and provided business updates. “Our team continues to achieve important milestones for our four clinical programs that underscore their potential to address unmet needs for multiple patient segments affected by oncogenic RAS/MAPK pathway signaling,” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “Expansion of ERAS-007 plus encorafenib and cetuximab (EC) in patients with EC-naïve BRAF-mutated (BRAFm) colorectal cancer (CRC) is advancing following the encouraging early efficacy data seen in HERKULES-3 [50% (3/6) response rate (2 cPR, 1 uPR) at the highest dose tested]. We are also building on the encouraging initial Phase 1b dose escalation data for ERAS-601 plus cetuximab in FLAGSHP-1, with Phase 1b combination dose expansion data planned for the first half of 2024.” Dr. Lim continued, “Importantly, we remain on track to dose the first patient in the SEACRAFT-1 Phase 1b trial in RAS Q61X solid tumors for our most advanced program, the potential first-in-class and best-in-class pan-RAF inhibitor naporafenib. Finally, we are continuing to advance our CNS-penetrant EGFR inhibitor ERAS-801, which was granted FDA Fast Track and Orphan Drug Designations, in recurrent glioblastoma (GBM). Our balance sheet continues to be strong, supporting a cash runway into the second half of 2025 and through the execution of meaningful clinical catalysts over the next 18 months.” Research and Development (R&D) Highlights Presented Promising HERKULES-3 Phase 1b Data and Refined Pipeline: In June 2023, Erasca presented preliminary Phase 1b data for ERAS-007 in combination with encorafenib + cetuximab (EC) i...