Erasca is a clinical-stage precision oncology company focused entirely on developing drugs that target the RAS/MAPK signaling pathway, which drives a broad range of cancers. Mutations in RAS (particularly KRAS) affect an estimated 5M+ new patients per year globally, most of whom have limited or no targeted therapy options. Erasca has two clinical-stage programs: ERAS-0015, a pan-RAS molecular glue licensed from Guangzhou Joyo Pharmatech, currently in Phase 1 trials in the U.S. and China; and ERAS-4001, a pan-KRAS small molecule inhibitor licensed from Medshine Discovery, also in Phase 1. A third program, ERAS-12, a biparatopic anti-EGFR antibody, is in discovery stage. Erasca has no approved products or revenue, and funds operations through equity raises. The company built its pipeline primarily through in-licensing rather than internal discovery, and relies on third-party contract manufacturers for drug supply. Erasca recently streamlined its pipeline by terminating licenses for several non-RAS programs — including a RAF inhibitor, an ERK inhibitor, and a SHP2 inhibitor — to concentrate resources on its RAS-targeting franchise. Key near-term milestones are Phase 1 monotherapy data from ERAS-0015 in the first half of 2026 and from ERAS-4001 in the second half of 2026. If products eventually reach commercialization, Erasca plans to build its own U.S. sales force, with regional partnerships elsewhere.