Overview
- On April 27, 2026, Erasca disclosed it had received a legal letter from Revolution Medicines accusing the company of patent infringement and trade‑secret misappropriation and later reported that a patient treated with ERAS‑0015 suffered an adverse event and died; those disclosures triggered a steep share-price collapse.
- Erasca completed an upsized public offering on July 15, 2026, selling 36,142,857 shares at $17.50 for gross proceeds of about $632.5 million to fund development and general corporate needs.
- The company and other outlets have reported encouraging early phase 1 signals for ERAS‑0015, including substantial tumor shrinkage in some pancreatic cancer patients, though the data remain early and partially reported.
- Revolution Medicines' formal IP challenge questions Erasca's claimed freedom to operate and targets prior cross‑study comparisons that Erasca used to position ERAS‑0015 against RevMed's RMC‑6236.
- Multiple law firms have announced securities investigations and class actions alleging that Erasca misstated safety, comparative preclinical data and its IP position, with motions for lead plaintiff due August 10, 2026, and key near‑term outcomes tied to the IP dispute, further safety data and any regulatory scrutiny.