NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Erasca, Inc. (“Erasca” or the “Company”) (NASDAQ:ERAS) securities during the period of January 14, 2025 through April 26, 2026, inclusive (“the Class Period”).
If you suffered a loss on your Erasca investments, you have until August 10, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:
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What Is This Lawsuit About? The lawsuit alleges that Erasca, along with its CEO and CFO, violated federal securities laws by making false and misleading statements about its lead oncology drug candidate, ERAS-0015. The company presented ERAS-0015 as a potential “best-in-class” therapy and highlighted purportedly superior preclinical results compared to Revolution Medicines’ competing drug candidate, RMC-6236, while failing to disclose that those comparisons were allegedly improper, exposing the Company to patent and trade secret disputes, and lacked a reasonable basis.
On April 27, 2026, Erasca disclosed in a Form 8-K that it had received a letter from legal counsel for RevMed alleging that Erasca’s ERAS0015 infringes a RevMed patent (U.S. Patent No. 12,409,225) and is connected to alleged trade secret misappropriation. RevMed also alleged that Erasca had “improperly compared preclinical data of ERAS-0015 and RMC-6236 in public disclosures” and demanded Erasca cease making “deceptive and untrue comparative statements comparing ERAS-0015 and RMC-6236.” Erasca stated that it believes the assertions are without merit and intends to contest the allegations. On this news, the price of Erasca shares declined by $2.34 per share, or approximately 11%, from $21.49 per share on April 24, 2026 to close at $19.15 on April 27, 2026.
On April 27, 2026, Erasca filed a separate Form 8-K reporting preliminary Phase 1 clinical data for ERAS-0015 and disclosing that one patient that received 24 mg of ERAS-0015 had died approximately a month after starting ERAS-0015. The patient was classified as a “Grade 3 TRAE of pneumonitis” that “progressed to Grade 5 after withdrawal of supportive care per patient decision.” Erasca further stated that comparisons between ERAS-0015 and other product candidates, including RMC-6236, were based on cross-study analyses and “not based on any head-to-head clinical trials,” and that such comparisons are “inherently limited and such data may not be directly comparable.” On this news, the price of Erasca shares declined by $9.25 per share, or approximately 48%, from $19.15 per share on April 27, 2026 to close at $9.90 on April 28, 2026.
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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.
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What Should I Do? If you purchased or otherwise acquired Erasca securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
[email protected]
