Erasca, Inc. filed its quarterly report on Form 10-Q with the SEC for the period ended June 30, 2026, disclosing a net loss of $227.5 million for the first half of the year, driven largely by a $150.0 million in-process research and development charge.

Key Highlights

  • Net loss of $227.519 million for the six months ended June 30, 2026, compared to a net loss of $64.842 million in the same period of 2025.
  • $150.0 million in-process R&D charge recorded in the first half of 2026, versus $7.5 million in the first half of 2025.
  • Total assets of $435.054 million as of June 30, 2026, up from $396.154 million at December 31, 2025.
  • Cash, cash equivalents, and marketable securities totaled $384.271 million as of June 30, 2026 (cash and cash equivalents of $42.542 million, short-term securities of $226.196 million, and long-term securities of $115.533 million).
  • Common shares outstanding were 312,556,206 at June 30, 2026, up from 284,159,076 at December 31, 2025, reflecting a 25,875,000-share underwritten offering that raised net proceeds of $242.706 million.
  • Net loss per share was $0.74 (basic and diluted) for the six months ended June 30, 2026, versus $0.23 for the same period in 2025.
  • Accumulated deficit reached $1.119728 billion as of June 30, 2026, compared to $892.209 million at December 31, 2025.

Erasca's First-Half 2026 Financials: Large R&D Charge Drives Widened Loss

According to the filing, Erasca, Inc. (NASDAQ:ERAS) recorded total operating expenses of $235.530 million for the six months ended June 30, 2026, compared to $73.755 million in the same period of 2025. The company reported that in-process research and development expenses of $150.0 million accounted for the largest single component of that increase. Research and development expenses also rose to $63.165 million from $47.139 million year-over-year, and general and administrative expenses increased to $22.365 million from $19.116 million.

Interest income partially offset operating losses, with the company reporting $8.052 million in interest income for the first half of 2026, down from $9.070 million in the same period of 2025. Net cash used in operating activities was $54.653 million for the six months ended June 30, 2026, compared to $52.086 million in the prior-year period, according to the filing. The company also disclosed purchases of marketable securities totaling $253.170 million, offset by maturities of $78.050 million and sales of $100.826 million during the same period.

On the equity side, the filing disclosed that Erasca completed an underwritten common stock offering during the first quarter of 2026, issuing 25,875,000 shares and receiving net proceeds of $242.706 million. Total stockholders' equity stood at $361.869 million as of June 30, 2026, up from $325.171 million at December 31, 2025. As of August 4, 2026, the company reported 349,762,035 shares of common stock outstanding. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, as indicated in the filing.

What Was Disclosed

Erasca filed its 10-Q for the quarter ended June 30, 2026, disclosing a net loss of $227.519 million for the first half of 2026, a $150.0 million in-process R&D charge, completion of a stock offering raising approximately $242.706 million net, and total assets of $435.054 million.