Erasca, Inc.

The suit alleges that Erasca, Inc., along with its CEO and CFO, violated federal securities laws by making false and misleading statements about its lead oncology drug candidate, ERAS-0015, between January 14, 2025, and April 26, 2026. According to the complaint, the Company repeatedly touted ERAS-0015 as a potential “best-in-class” therapy and highlighted purportedly superior preclinical results compared to Revolution Medicines’ competing drug candidate, RMC-6236, while failing to disclose that those comparisons were allegedly improper, exposed the Company to patent and trade secret disputes, and lacked a reasonable basis. The truth allegedly began to emerge on April 27, 2026, when Erasca disclosed that Revolution Medicines had accused the Company of patent infringement, trade secret misappropriation, and making deceptive comparative statements regarding ERAS-0015. Later that day, Erasca reported preliminary clinical data that included a patient death and acknowledged that comparisons between ERAS-0015 and competing therapies were based on inherently limited cross-study analyses rather than head-to-head clinical trials. Following these disclosures, Erasca’s stock price fell more than 45%, and the complaint seeks damages on behalf of investors who purchased Erasca securities during the class period.