Cancer therapy firm Erasca drops after $150 mln stock offering unveil
20/01/2026 21:46
** Erasca ERAS.O shares down 8.1% in extended trading to $9.02 after equity raise news ** San Diego, California-based oncology co announces $150 mln stock offering ** Co intends to use net offering proceeds to help fund R&D of its product candidates and other development programs, and for working capital and other general corporate purposes ** JP Morgan, Morgan Stanley, Jefferies and Evercore joint bookrunners ** With ~283.7 mln shares outstanding, co has about $2.8 bln market cap ** ERAS shares on Tues finished session up 2% at $9.81, up 164% to begin 2026 ** Of 11 analysts covering the stock, recommendation breakdown is 9 "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT $7.50, LSEG data reflects (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))