Erasca Q2 net loss widens on higher R&D costs
Erasca Q2 net loss widens on higher R&D costs
Overview
U.S. oncology drug developer's Q2 net loss widened yr/yr on higher R&D expenses
Company ended Q2 with $384 mln in cash, cash equivalents, and marketable securities
Raised $632 mln in July public offering to support pipeline advancement
Outlook
Erasca expects Phase 1 monotherapy expansion data for ERAS-0015 in H1 2027
Company anticipates preliminary Phase 1 monotherapy data for ERAS-4001 in H2 2026
Erasca expects current cash to fund planned milestones, including key data readouts and trial initiations
Result Drivers
CLINICAL TRIAL SPENDING - Higher R&D expenses driven by increased costs for clinical trials, preclinical studies, and discovery activities
PIPELINE ADVANCEMENT - Progress in ERAS-0015 and ERAS-4001 programs, including updated clinical data and plans for registration-enabling trials
Company press release: ID:nGNX33y33y
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $44.08 mln |
|
Q2 Loss Per Basic Share |
| $0.14 |
|
Q2 Operating Expenses |
| $47.62 mln |
|
Q2 Operating Income |
| -$47.62 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Erasca, Inc. is $21.50, about 18.7% above its August 10 closing price of $18.12
Reuters Recommended Reads
Aug 11 - Intensity Therapeutics Q2 net loss widens as R&D costs rise
Aug 10 - Olema Pharmaceuticals Q2 net loss widens on higher clinical trial spending
Aug 11 - Shattuck Labs Q2 net loss widens as R&D spending rises
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)