ERASCA, INC. (ERAS) to Raise $262 Million in IPO

ERASCA, INC. (ERAS) expects to raise $262 million in an IPO on Friday, July 16th, IPO Scoop reports. The company will issue 17,500,000 shares at $14.00-$16.00 per share.

ERASCA, INC. has a market-cap of $1.7 billion.

J.P Morgan, Morgan Stanley, BofA Securities, Evercore ISI and Guggenheim Securities served as the underwriters for the IPO.

ERASCA, INC. provided the following description of their company for its IPO: ” At Erasca, our name is our mission: to erase cancer. We are a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Molecular alterations in RAS, the most frequently mutated oncogene, and the MAPK pathway, one of the most frequently altered signaling pathways in cancer, account for approximately 5.5 million new cases of cancer worldwide per year. Our company was co-founded by leading pioneers in precision oncology and RAS targeting to create novel therapies and combination regimens designed to comprehensively shut down the RAS/MAPK pathway for the treatment of cancer. We have assembled what we believe to be the deepest, wholly-owned or controlled RAS/MAPK pathway-focused pipeline in the industry, comprising 11 modality-agnostic programs aligned with our three therapeutic strategies of: (1) targeting key upstream and downstream signaling nodes in the RAS/MAPK pathway; (2) targeting RAS directly; and (3) targeting escape routes that emerge in response to treatment. The target breadth and molecular diversity represented in our pipeline enable us to pursue a systematic, data-driven clinical development effort to identify single agent and combination approaches with the goal of prolonging survival in a wide range of patient populations with high unmet needs. Our modality-agnostic approach aims to allow us to selectively and potently inhibit or degrade critical signaling nodes with small molecule therapeutics, large molecule therapeutics, and protein degraders. Our purpose-built pipeline includes two clinical-stage programs (ERK and SHP2 inhibitors, which together comprise our first, innovative MAPKlamp), two preclinical-stage programs (CNS-penetrant KRAS G12C and EGFR inhibitors), and seven discovery-stage programs targeting other key oncogenic drivers. We expect to have four product candidates in the clinic within the next six quarters, plus an additional IND filing every 12-18 months over the next five years. We believe our world-class team’s capabilities and experience, further guided by our scientific advisory board, which includes the world’s leading experts in the RAS/MAPK pathway, uniquely position us to achieve our bold mission of erasing cancer.   “.

ERASCA, INC. was founded in 2018 and has 102 employees. The company is located at 10835 Road to the Cure, Suite 140 San Diego, CA 92121 and can be reached via phone at (858) 465-6511 or on the web at http://www.erasca.com/.

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