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Erasca Revamps With Two In-Licensings, $160m Follow-On Offering

 
• By Joseph Haas

The San Diego biotech is also de-emphasizing three ongoing targeted cancer therapy candidates and giving itself the flexibility to focus on RAS- or KRAS-targeting approaches.

pancreatic cancer
Erasca is pursuing targeted therapies for solid tumors like pancreatic cancer • Source: Alamy

In a series of moves that some analysts called unexpected, Erasca, Inc. unveiled the in-licensing of two preclinical RAS-targeted cancer compounds, outlined a planned $160m public offering and said it was de-emphasizing three ongoing programs on 16 May. These decisions came little more than one week after the San Diego-based firm’s first quarter earnings call, with one analyst saying he was surprised by the announcements and saw both upside and downside in them.

What is not changed, Erasca CEO Jonathan Lim said on a 17 May investor call, is the company’s focus on...

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