Erasca continues ascent after cancer therapy co's upsized $225 mln stock offering

Erasca

22/01/2026 12:18

** Erasca ERAS.O shares up 3.1% before the bell to $10.36 after above-target $225 mln equity raise

    ** ERAS shares poised to rise for 7th straight session, if gains hold

    ** San Diego, California-based precision
    oncology co late Weds announced pricing 22.5 mln shares at $10

    ** ERAS shares on Weds closed up 2.5% at $10.05 after co late Tues unveiled planned
    $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 working capital and other general corporate purposes

    ** JP Morgan, Morgan Stanley, Jefferies and Evercore
    joint bookrunners

** Through Weds close, ERAS shares have surged 170% to start 2026. Stock up more than five-fold over the past 12 months

** Avg rating among 11 analysts is "buy"; median PT $7.50, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))