Latham & Watkins Advises Erasca on Underwritten Offering of Common Stock

Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, has announced the pricing of an underwritten offering of 86,486,486 shares of its common stock at a price of US$1.85 per share. All of the shares to be sold in the offering are to be sold by Erasca. The gross proceeds to Erasca from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately US$160 million. In addition, Erasca has granted the underwriters a 30-day option to purchase up to an additional 12,972,972 shares of common stock at the offering price. The offering is expected to close on May 21, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins advised Erasca in the offering, with a corporate team led by San Diego partners Cheston Larson and Matt Bush, and counsel Anthony Gostanian, with associates Shelby Harrison and Arielle Schechtman.