Erasca Inc
ERASHealthcare|Biotechnology|USA
$18.53
-0.65 (-3.39%)
Tangible Book
$1.27
Financials
Financial Snapshot
Market Cap
$5.76B
Enterprise Value
$197.8M
Revenue (TTM)
$0.00
Net Income (TTM)
$-277.0M
Cash & Equivalents
—
Net Cash/Share
$0.57
Free Cash Flow (TTM)
$-250.9M
Operating CF (TTM)
$-91.3M
Debt/Equity
0.12
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$22.8M
Monthly Burn
$7.6M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $50.4M | $118.7M | $414.5M | $435.6M | $312.4M | $298.3M | $276.1M | $243.8M | |
| Operating Cash Flow | $-10.4M | $-32.7M | $-79.6M | $-103.3M | $-101.2M | $-109.4M | $-95.5M | $-91.3M | |
| Free Cash Flow | $-11.0M | $-71.4M | $-98.5M | $-119.8M | $-123.0M | $-132.0M | $-105.1M | $-250.9M | |
| Capital Expenditure | $-597.0K | $-38.7M | $-18.9M | $-16.6M | $-21.8M | $-22.6M | $-9.6M | $-159.6M | |
| Financing Cash Flow | $16.9M | $140.0M | $439.4M | $98.1M | $1.3M | $240.7M | $1.1M | $245.7M |
R&D Spending
R&D (TTM)
$94.2M
R&D Intensity
—
R&D Growth YoY
+1.4%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $9.6M | $29.6M | $73.9M | $112.5M | $103.8M | $115.4M | $92.9M | $94.2M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | |
| SG&A | $3.7M | $8.0M | $22.6M | $33.0M | $37.7M | $41.7M | $38.6M | $39.5M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $9.6M | $29.6M | $73.9M | $112.5M | $103.8M | $115.4M | $92.9M | $94.2M | |
| SG&A | $3.7M | $8.0M | $22.6M | $33.0M | $37.7M | $41.7M | $38.6M | $39.5M | |
| Operating Income | $-13.3M | $-37.5M | $-96.5M | $-145.4M | $-141.5M | $-157.1M | $-131.4M | $-133.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-12.0M | $-101.7M | $-122.8M | $-242.8M | $-125.0M | $-161.7M | $-124.5M | $-277.0M | |
| Net Income | $-12.0M | $-101.7M | $-122.8M | $-242.8M | $-125.0M | $-161.7M | $-124.5M | $-277.0M | |
| EPS (Diluted) | -0.18 | -4.44 | -1.85 | -1.99 | -0.83 | -0.69 | -0.44 | -0.93 | |
| EBITDA | $-13.0M | $-37.0M | $-95.7M | $-142.8M | $-137.8M | $-153.3M | $-128.3M | $-130.7M | |
| Shares Out. (M) | 68.58 | 22.89 | 66.29 | 122.03 | 150.19 | 233.82 | 283.53 | 305.73 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $29.6M | $65.4M | $360.5M | $284.2M | $93.1M | $67.7M | $73.8M | $47.3M | |
| Marketable Securities | $20.8M | $53.3M | $54.0M | $151.4M | $219.3M | $230.6M | $202.3M | $196.5M | |
| Total Current Assets | $51.1M | $120.0M | $420.0M | $444.5M | $320.7M | $308.8M | $286.2M | $253.8M | |
| Total Assets | $55.5M | $124.8M | $501.4M | $514.9M | $395.3M | $502.5M | $396.2M | $461.2M | |
| Total Current Liabilities | $2.8M | $13.7M | $26.2M | $48.7M | $26.2M | $31.4M | $28.5M | $26.7M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $69.1M | $238.8M | $44.9M | $103.1M | $78.6M | $79.0M | $71.0M | $67.7M | |
| Stockholders' Equity | $-13.6M | $-114.0M | $456.5M | $411.9M | $316.7M | $423.5M | $325.2M | $393.5M | |
| Retained Earnings | $-13.7M | $-115.4M | $-238.2M | $-481.0M | $-606.0M | $-767.7M | $-892.2M | $-1.08B |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-10.4M | $-32.7M | $-79.6M | $-103.3M | $-101.2M | $-109.4M | $-95.5M | $-91.3M | |
| Capital Expenditure | $-597.0K | $-38.7M | $-18.9M | $-16.6M | $-21.8M | $-22.6M | $-9.6M | $-159.6M | |
| Free Cash Flow | $-11.0M | $-71.4M | $-98.5M | $-119.8M | $-123.0M | $-132.0M | $-105.1M | $-250.9M | |
| Investing Cash Flow | $-20.9M | $-71.2M | $-64.6M | $-71.1M | $-91.2M | $-156.6M | $100.4M | $-177.7M | |
| Financing Cash Flow | $16.9M | $140.0M | $439.4M | $98.1M | $1.3M | $240.7M | $1.1M | $245.7M | |
| Issuance of Stock | $0.00 | $0.00 | $317.0M | $95.3M | $0.00 | $239.1M | $0.00 | $258.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $122.0K | $797.0K | $8.3M | $20.1M | $26.2M | $27.0M | $24.9M | $26.6M | |
| Net Change in Cash | $-14.4M | $36.1M | $295.2M | $-76.3M | $-191.1M | $-25.3M | $6.1M | $-23.2M |
Dilution Tracker
Shares outstanding grew 361.2% over 5 years — significant dilution
Shares Outstanding
306M
5-Year Share Growth
+361.2%
Stock Issuance (TTM)
$258.8M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 68.58 | 22.89 | 66.29 | 122.03 | 150.19 | 233.82 | 283.53 | 305.73 | |
| YoY Change % | — | -66.6% | 189.6% | 84.1% | 23.1% | 55.7% | 21.3% | 7.8% | |
| Stock Issuance | $0.00 | $0.00 | $317.0M | $95.3M | $0.00 | $239.1M | $0.00 | $258.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $122.0K | $797.0K | $8.3M | $20.1M | $26.2M | $27.0M | $24.9M | $26.6M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | -71.7% | -55.9% | -34.3% | -43.7% | -33.3% | -75.3% | |
| ROA % | -21.7% | -112.7% | -39.2% | -47.8% | -27.5% | -36.0% | -27.7% | -63.1% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B14.64
Historical— / — / 14.64
Industry Med.2.93
EV/EBITDA-42.58
Historical-42.58 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$1.27
Net Current Assets
$0.600
Net-Net Working Capital
$0.57
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 4.06 | 1.56 | 1.02 | 1.68 | 3.25 | 14.64 | |
| EV/EBITDA | 0.00 | 0.00 | -15.25 | -1.84 | -0.48 | -3.03 | -6.45 | -42.58 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
2
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $0.33M | $1.83M |
| Net Income | $-297.84M | $-187.73M | $-226.95M |
| EPS | -0.91 | -0.57 | -0.68 |
| Book Value per Share | 1.73 | 2.00 | 2.20 |
| Operating Cash Flow per Share | -0.55 | -0.32 | 0.00 |
| Operating CF | $-168.15M | $-97.84M | $0.00M |