Overview
- Erasca disclosed on April 27, 2026 that it had received a letter from Revolution Medicines alleging ERAS‑0015 infringes a RevMed patent and involves alleged trade‑secret misappropriation.
- The same day the company reported that a patient who received ERAS‑0015 experienced an adverse event about a month after dosing and later died; Erasca says it will contest RevMed’s claims and has not linked the death to the drug.
- Investors reacted sharply to those disclosures with Erasca shares plunging roughly 48% the following trading day and the company losing more than $2.8 billion in market value.
- Multiple plaintiff firms have filed or announced securities class actions alleging Erasca misled the market about ERAS‑0015’s preclinical comparisons and IP exposure and are soliciting class members and lead‑plaintiff candidates.
- A federal deadline to move for lead‑plaintiff status is set for August 10, 2026, and the litigation and any related investigations remain in early procedural stages that could affect future partner deals, financing, and clinical programs.