Cancer therapy firm Erasca drops after $150 mln stock offering unveil
ReutersJan 20, 2026 9:46 PM
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
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