Erasca Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

GlobeNewswire

SAN DIEGO, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Erasca, Inc. , a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced that it has closed its previously announced upsized public offering of 25,875,000 shares of its common stock, including 3,375,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. The shares of common stock were sold to the public at a price of $10.00 per share. The gross proceeds to Erasca from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $258.8 million. All of the shares of common stock sold in the public offering were sold by Erasca.

Erasca intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to fund the research and development of its product candidates and other development programs and for working capital and other general corporate purposes.

J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI acted as joint book-running managers for the offering.

The securities described above were offered by Erasca pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (SEC) and was declared effective on August 22, 2025.

A final prospectus supplement relating to this offering has been filed with the SEC. The offering was made only by means of a prospectus supplement and accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from:J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Morgan Stanley & Co. LLC, Attention:Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com; Jefferies LLC, Attention:Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; and Evercore Group L.L.C., Attention:Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com. Electronic copies of the final prospectus supplement and accompanying prospectus are also available on the website of the SEC at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Erasca

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. 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 patients with cancer. We believe our 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.

Forward Looking Statements

Erasca cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: our expectations regarding the anticipated use of proceeds from the public offering. Actual results may differ from those set forth in this press release due to the risks and uncertainties associated with market conditions, as well as risks and uncertainties inherent in our business described in our prior filings with the SEC, including under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2024, and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact:

Joyce Allaire

LifeSci Advisors, LLC

jallaire@lifesciadvisors.com

Source:Erasca, Inc.

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Erasca stock falls after announcing $150 million public offering

Investing.com

Investing.com -- Erasca Inc. (NASDAQ:ERAS) stock fell 6.8% in after-hours trading Tuesday following the announcement of a proposed $150 million public offering of common stock.

The clinical-stage precision oncology company said it intends to offer $150 million of common shares, with plans to grant underwriters a 30-day option to purchase up to an additional $22.5 million of shares. The company noted that the offering’s completion, size, and terms are not guaranteed.

Erasca plans to use the net proceeds from the offering, combined with its existing cash reserves, to fund research and development of its product candidates and other development programs, as well as for working capital and general corporate purposes.

J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI are serving as joint book-running managers for the proposed offering.

The company also disclosed preliminary financial information, stating that its cash, cash equivalents, and marketable securities were approximately $341.8 million as of December 31, 2025. This figure represents unaudited preliminary data subject to completion of financial closing procedures.

Erasca focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, a significant area in precision oncology research.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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These charts show the stock market giving investors a lot to like - for now - as the S&P 500 nears 7,000

MarketWatch

By Lawrence G. McMillan

More stocks are making new 52-week highs and volatility is low

Stock-market internal indicators are improving, so the overall picture is still positive. The S&P 500 index SPX continues to make all-time highs, and upside targets as high as 7,300 are in play.

There is support at 6,900, 6,840 and 6,720. There might be minor resistance at 6,985 (this week's highs), but another target would be the +4<SIGMA> "modified Bollinger band," which is currently at 7,030.

The only indicator on a sell signal is the equity-only put-call ratio. There are two of these measures - and the weighted ratio is more bearish as it continues to rise. The standard ratio is moving sideways after having curled upward a couple of weeks ago. As long as these ratios are moving higher, that is a bearish signal for stocks.

Market breadth has improved greatly, and both breadth oscillators are on buy signals. Furthermore, cumulative volume breadth (CVB) has made all-time highs on three recent days, as measured in both "stocks only" terms and NYSE terms. That is clear support for the all-time highs being made by SPX.

New 52-week highs on the NYSE have swamped new 52-week lows. There have been more than 200 new highs on most days over the past two weeks, and so this indicator remains strongly bullish. It would only falter if new lows were to outnumber new highs on two consecutive days.

For the most part, VIX VIX has been subdued - although it did seem to get a little "worried" this week, when SPX sold off. VIX briefly rose above 18, but then pulled back. Mostly importantly, the trend of VIX buy signal for stocks remains in place. Serious worries would arise if VIX begins to rise sharply.

The first sign of that would be if VIX were to return to "spiking" mode (a rise of at least 3.00 points over any three-day period, using closing prices). Another, more worrisome sign would be if VIX were to rise above its 200-day moving average, which is now around 19.

The construct of volatility derivatives remains bullish for stocks. The term structures slope sharply upwards, and the VIX futures are trading with a relatively large premium to VIX. January VIX futures will remain the front month until next Wednesday, when they expire.

Overall, the picture for stocks remains bullish. The indicators are almost all on buy signals, and SPX continues to press to new all-time highs. We will take new signals as they arise, and will continue to roll deeply in-the-money options.

New recommendation: Labcorp Holdings (LH)

A new put-call-ratio buy signal has been issued in LH (LH).

Buy 1 LH (Feb. 20) 260 call in line with the market.

We will hold the call as long as the put-call ratio for LH remains on a buy signal.

New recommendation: Erasca (ERAS)

Erasca shares (ERAS) broke out a week ago and the stock has been on an impressive run. There have been some rumors of a positive drug trial about to be announced, but there is no official news.

Buy 3 ERAS (Feb. 20) 7.5 calls in line with the market.

Follow-up action

All stops are mental closing stops unless otherwise noted.

We are using a standard rolling procedure for our SPY SPY spreads: In any vertical bull or bear spread, if the underlying hits the short strike, then roll the entire spread. That would be roll up in the case of a call bull spread or roll down in the case of a bear put spread. Stay in the same expiration and keep the distance between the strikes the same unless otherwise instructed.

Also, for outright long options, roll if they become 8 points in-the-money.

Long 1 expiring TSEM (TSEM) (Jan. 16) 115 call and short 1 TSEM (Jan. 16) 130 call: Continue to hold without a stop for now. Roll to the TSEM (Feb. 20) 125-145 call bull spread.

Long 1 SPY (Jan. 29) 688 call and short 1 SPY (Jan. 23) 700 call: This position is the trend of VIX buy signal. It would be stopped out if VIX were to close above its 200-day moving average for two consecutive days.

Long 1 BMO (Jun. 18) 130 call and long 1 BMO (Jun. 18) 130 put: Continue to hold this straddle. Roll the calls up if BMO (BMO) trades at $150 and roll the puts down if it trades at $110.

Long 1 SPY (Jan. 30) 690 call and short 1 SPY (Jan. 30) 710 call: This spread was bought on the upside breakout, when SPX closed above 6,920 for two consecutive days. Stop out if SPX closes below 6,840.

Long 2 expiring SPY (Jan. 16) 683 puts: Were bought in line with the breadth and equity-only put-call ratio sell signals. The breadth oscillators have rolled over to buy signals, so only the equity-only put-call ratio remains on a sell signal. So now Buy 1 SPY (Feb. 20) 683 put.

Long 6 AAL (Feb. 20) 15 puts: we will continue to hold as long as the AAL (AAL) put-call ratio is on this sell signal.

Long 1 SPYM (Feb. 20) 81 call and long 1 SPYM (Feb. 20) 81 put: Roll the calls up to the 84 strike if SPYM SPYM trades at $84 or higher. Roll the puts down to the 78 strike if SPYM trades at $78 or lower.

Long 300 shares of BWEN (BWEN): Stop out on a close below $2.85.

All stops are mental closing stops unless otherwise noted.

Send questions to: lmcmillan@optionstrategist.com.

Lawrence G. McMillan is president of McMillan Analysis, a registered investment and commodity trading advisor. McMillan may hold positions in securities recommended in this report, both personally and in client accounts. He is an experienced trader and money manager and is the author of "Options as a Strategic Investment." www.optionstrategist.com

Disclaimer

Disclaimer:

(c)McMillan Analysis Corporation is registered with the SEC as an investment advisor and with the CFTC as a commodity trading advisor. The information in this newsletter has been carefully compiled from sources believed to be reliable, but accuracy and completeness are not guaranteed. The officers or directors of McMillan Analysis Corporation, or accounts managed by such persons may have positions in the securities recommended in the advisory.

-Lawrence G. McMillan

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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Eli Lilly, Nvidia among market cap stock movers on Thursday

Investing.com

Thursday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Eli Lilly and Nvidia are showing significant movements. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers ($200B+ Market Cap)

Eli Lilly (LLY); FDA delays reviews of Sanofi’s Tzield and Disc Medicine’s bitopertin -3.73%
Applied Materials (AMAT); RBC Capital initiates Applied Materials stock with Outperform rating +7.33%
Lam Research (LRCX); RBC Capital initiates Lam Research stock with Outperform rating +5.52%
Morgan Stanley (MS) +5.7%
Advanced Micro Devices (; RBC Capital initiates AMD stock coverage with Sector Perform rating +5.38%
Goldman Sachs Group (GS) +4.82%
Nvidia (NVDA); RBC Capital initiates Nvidia stock with Outperform rating, $240 target +3.4%
Micron Technology (MU); Micron Technology stock initiated at Outperform by RBC on AI demand +2.46%
Salesforce (CRM) -2.54%

Large-Cap Stock Movers ($10B-$200B Market Cap)

Figure Technology Solutions (FIGR) +15.29%
Penumbra (PEN); Penumbra reports preliminary Q4 revenue growth of over 21% +12.09%
Entegris (ENTG); Entegris stock rating upgraded by UBS on expected technology inflections +10.91%
Talen Energy (TLN) +10.67%
MKS Instruments (MKSI) +10.2%
Nanometrics (ONTO) +9.46%
CoreWeave (CRWV) +9.38%
Kla-tencor (KLAC); KLA stock initiated at Sector Perform by RBC Capital with $1,550 target +8.69%
Reddit (RDDT) -9.16%
Regencell Bioscience Holdings (RGC) -12.71%

Mid-Cap Stock Movers ($2B-$10B Market Cap)

NantKwest (IBRX); ImmunityBio reports 700% annual revenue growth for cancer drug Anktiva +29.97%
Galaxy Digital Holdings (GLXY); Galaxy announces initial closing of debut tokenized CLO at $75 million +16.36%
Erasca (ERAS) +12.76%
Fluence Energy (FLNC) +13.82%
StubHub (STUB) +14.25%
Camtek (CAMT) +11.1%
Applied Opt (AAOI) +11.63%
Calix (CALX) +10.12%
Solaris Oilfield Infrastructure (SEI) +8.12%
The Chefs Warehouse (CHEF) +8.74%

Small-Cap Stock Movers ($300M-$2B Market Cap)

Ambitions Enterprise Management (AHMA) +73.59%
AXT Inc (AXTI) +18.73%
Armada Acquisition I (RZLV) +16.71%
Burning Rock Biotech (BNR) +16.41%
TryHard Holdings (THH) -52.25%
Fast Acquisition Corp II (FBYD) -16.98%
Diginex (DGNX) -17.48%
Caledonia Mining (CMCL) -17.31%
Aimei Health Tech (AFJK) -14.06%
Oxygen Biotherapies (TENX) -11.99%

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Exxon Mobil, LyondellBasell among market cap stock movers on Wednesday

Investing.com

Information Services Group

Wednesday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Exxon Mobil and LyondellBasell are rallying, while stocks like AppLovin and Ctrip.com International are falling. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers ($200B+ Market Cap)

AppLovin (APP); Evercore ISI initiates AppLovin stock with Outperform rating, $835 target; -9.17%
Shopify Inc (SHOP) -6.62%
Oracle Corp (ORCL) -4.98%
Wells Fargo (WFC) -4.83%
Avago Technologies (AVGO) -4.65%
Bank Of America (BAC) -4.13%
Citigroup (C) -3.79%
Lam Research Corp (LRCX) -3.21%
Exxon Mobil (XOM) +3.42%
Philip Morris Intl (PM) +3.03%

Large-Cap Stock Movers ($10B-$200B Market Cap)

Ctrip.com International (TCOM) -17.84%
Unity Software Inc (U) -9.17%
Rivian Automotive (RIVN); Rivian stock rating downgraded to Sell by UBS on high expectations; -9.05%
Lumentum Holdings Inc (LITE) -8.26%
Amkor Technology (AMKR) -7.82%
Intuit (INTU) -6.64%
Airbnb Inc (ABNB) -6.58%
Astera Labs (ALAB) -6.49%
LyondellBasell Industries NV (LYB) +7.42%
Fortress Value Acquisition Corp (MP) +7.41%

Mid-Cap Stock Movers ($2B-$10B Market Cap)

TryHard Holdings (THH); TryHard Holdings secures $25 million equity purchase agreement; -50.5%
Impinj Inc (PI) -11.25%
VPC Impact Acquisition Holdings III (DAVE) -10.7%
Navan Inc (NAVN) -9.91%
Via Transportation Ltd (VIA) -9.53%
Erasca (ERAS) +11.41%
Uranium Energy Corp (UEC) +12.19%
Terns Pharmaceuticals (TERN) +9.78%
Viking Therapeutics Inc (VKTX) +14.66%
Blue Safari Group Acquisition Corp (BTDR) +15.0%

Small-Cap Stock Movers ($300M-$2B Market Cap)

WeShop Holdings Ltd (WSHP) +104.08%
Rich Sparkle Holdings (ANPA) +76.17%
Sizzle Acquisition (CRML) +33.71%
Ambitions Enterprise Management Co (AHMA) +20.02%
AMN Healthcare Services Inc (AMN) +18.08%
Healthcare Capital (DRTS) +16.16%
Bctg Acquisition Corp (TNGX) +15.33%
Cerus Corp (CERS) +14.88%
Longview Acquisition (BFLY) +12.61%
Velo3D (VELO) -12.42%

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AppLovin and Rivian among market cap stock movers on Wednesday

Investing.com

Wednesday’s market has seen swings in various stocks based on news and other factors. Today, stocks like AppLovin and Rivian are experiencing notable movements. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers

(Market capitalization of $200 billion USD or higher)

AppLovin (APP); Evercore ISI initiates AppLovin stock with Outperform rating, $835 target; -8.99%
Shopify Inc (SHOP): -5.7%
Wells Fargo (WFC): -5.0%
Bank Of America (BAC): -4.86%
Avago Technologies (AVGO): -4.52%
Oracle Corp (ORCL): -3.05%
Lam Research Corp (LRCX): -2.62%
Nvidia Corp (NVDA); Exclusive-China’s customs agents told Nvidia’s H200 chips are not permitted, sources say; -2.16%
Applied Matls Inc (AMAT): -1.93%
Citigroup (C): -2.55%

Large-Cap Stock Movers

(Market capitalization of $10-$200 billion USD)

Ctrip.com International (TCOM): -15.95%
Rivian Automotive (RIVN); Rivian stock rating downgraded to Sell by UBS on high expectations; -8.44%
Unity Software Inc (U): -7.64%
Astera Labs (ALAB): -5.83%
Affirm Holdings (AFRM); Affirm enhances underwriting with real-time financial data; -5.65%
Credo Technology Holding (CRDO): -5.45%
Biogen Idec Inc (BIIB): -5.43%
AltC Acquisition (OKLO): -4.34%
MicroStrategy Inc (MSTR): +6.7%
Bitmine Immersion Tech (BMNR): +8.09%

Mid-Cap Stock Movers

(Market capitalization of $2-$10 billion USD)

TryHard Holdings (THH); TryHard Holdings secures $25 million equity purchase agreement; -68.88%
Wave Life Sciences Ltd (WVE): +10.62%
TG Therapeutics Inc (TGTX); TG Therapeutics reports $616 million in preliminary 2025 revenue; +8.23%
United States Cellular Corp (AD); Array completes sale of spectrum assets to AT&T for $1.018 billion; +7.64%
Unum Therapeutics Inc (COGT): +7.61%
Erasca (ERAS): +7.53%
Concentrix (CNXC): +8.54%
TTM Technologies (TTMI): +6.01%
Glaukos Corp (GKOS); Glaukos reports 36% revenue growth in Q4, reaffirms 2026 guidance; -8.36%
Fermi America LLC (FRMI): -6.16%

Small-Cap Stock Movers

(Market capitalization of $300 million -$2 billion USD)

Rich Sparkle Holdings (ANPA): +40.95%
Ambitions Enterprise Management Co (AHMA): +14.99%
Oric Pharmaceuticals Inc (ORIC): +13.17%
MSTU (MSTU): +14.35%
Aspirational Consumer Lifestyle (UP): +9.05%
Canaan Inc (CAN); Canaan reports 82% hashrate growth, builds record crypto holdings; +7.3%
Innovative Soluti (ISSC): +7.64%
Velo3D (VELO): -12.67%
BMNU (BMNU): -5.3%

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Revolution Medicines stock surges over 20% on potential AbbVie acquisition

Investing.com

Tango Therapeutics

-1.83%

Advanced Micro Devices

Investing.com -- Revolution Medicines (NASDAQ:RVMD) stock surged 29% before trading was halted twice due to volatility following a Wall Street Journal report that AbbVie (NYSE:ABBV) is in advanced talks to acquire the clinical-stage precision oncology company.

According to people familiar with the matter, AbbVie is nearing a deal that could value Revolution Medicines at approximately $20 billion or more, representing a premium to the company’s current market value of around $16 billion. The acquisition could be finalized soon, barring any last-minute complications.

The news triggered significant gains across the oncology biotech sector, with several of Revolution’s peers seeing substantial price movements. Verastem (NASDAQ:VSTM) jumped 25%, while Tango Therapeutics (NASDAQ:TNGX) climbed 20%, and Erasca (NASDAQ:ERAS) soared 27%.

Revolution Medicines specializes in developing novel targeted therapies for RAS-addicted cancers. The potential acquisition could strengthen AbbVie’s oncology portfolio as it seeks to expand its presence in the precision medicine space.

The companies have not officially confirmed the talks, and it remains unclear exactly how much AbbVie is offering for the biotech firm. Trading in Revolution Medicines shares was halted following the rapid price increase triggered by the report.

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