Business
Erasca Reports Third Quarter 2022 Financial Results and Business Updates
Positive preliminary monotherapy data for ERAS-007 and ERAS-601 support ongoing and future combination trials Signed CTCSAs with Eli Lilly to supply cetuximab
About this update from Erasca, Inc.
[{"type":"text","content":"Positive preliminary monotherapy data for ERAS-007 and ERAS-601 support ongoing and future combination trials Signed CTCSAs with Eli Lilly to supply cetuximab in combination with ERAS-601 and with Pfizer to supply palbociclib in combination with ERAS-007; signed strategic R&D collaboration with MD Anderson Strong balance sheet with cash, cash equivalents, and marketable securities of $365 million SAN DIEGO, Nov. 09, 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 September 30, 2022, and provided business updates. “This quarter, we continued to advance our RAS/MAPK pathway-focused pipeline. In September, we reported promising preliminary Phase 1/1b data at our R&D Day for our two lead compounds, ERK1/2 inhibitor ERAS-007 and SHP2 inhibitor ERAS-601, in advanced solid tumors. Their monotherapy efficacy combined with favorable safety, tolerability, and pharmacokinetic data support their combination development. In July, we signed a second clinical trial collaboration and supply agreement (CTCSA) with Eli Lilly to explore the anti-EGFR antibody cetuximab with ERAS-601 for the treatment of triple wildtype (KRAS/NRAS/BRAF wildtype) metastatic colorectal cancer (CRC) and human papillomavirus (HPV)-negative advanced head and neck squamous cell carcinoma (HNSCC), followed last month by a second CTCSA with Pfizer to explore the CDK4/6 inhibitor palbociclib with ERAS-007 for the treatment of patients with KRAS- or NRAS-mutant CRC and KRAS-mutant pancreatic ductal adenocarcinoma (PDAC),” said Jonathan E. Lim, M.D., Erasca’s chairman, CEO, and co-founder. “We were also pleased to share four poster presentations at last month’s 34th EORTC-NCI-AACR Symposium on ERAS-007, ERAS-601, our central nervous system (CNS)-penetrant EGFR inhibitor ERAS-801, and our KRAS G12D inhibitor program ERAS-4.” Dr. Lim continued, “Before year-end, we expect to file an IND for our CNS-penetrant KRAS G12C inhibitor ERAS-3490 in KRAS G12C mutant non-small cell lung cancer (NSCLC). In the first half of 2023, we anticipate initiating a dose escalation trial for ERAS-007 in combination with ERAS-601 and expect to report combination d...