BUZZ-Cancer therapy firm Erasca drops after $150 mln stock offering unveil

Reuters
01/21
BUZZ-Cancer therapy firm Erasca drops after $150 mln stock offering unveil

** Erasca ERAS.O shares down 8.1% in extended trading to $9.02 after equity raise news

** San Diego, California-based oncology co announces $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 for working capital and other general corporate purposes

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

** With ~283.7 mln shares outstanding, co has about $2.8 bln market cap

** ERAS shares on Tues finished session up 2% at $9.81, up 164% to begin 2026

** Of 11 analysts covering the stock, recommendation breakdown is 9 "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT $7.50, LSEG data reflects

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

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

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