The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Erasca, Inc. (“Erasca” or the “Company”) (NASDAQ: ERAS) common stock between January 14, 2025 and April 26, 2026, inclusive (the “Class Period”). Erasca investors have until August 10, 2026 to file a lead plaintiff motion.

What Happened?

On April 27, 2026, before market hours, Erasca disclosed that it had received a letter from legal counsel for Revolution Medicines, Inc. (“RevMed”) alleging that Erasca’s drug candidate, ERAS-0015, infringes a RevMed patent and is connected to alleged trade secret misappropriation. RevMed also claimed 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.”

On this news, Erasca’s stock price fell $2.34, or 10.9%, to close at $19.15 per share on April 27, 2026, thereby injuring investors.

That same day, after market hours, Erasca reported preliminary Phase 1 clinical data from ERAS-0015, revealing that a patient had died approximately one month after starting ERAS-0015.

On this news, Erasca’s stock price fell $9.25, or 48.3%, to close at $9.90 per share on April 28, 2026, thereby injuring investors further

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) ERAS-0015’s preclinical data was based on improper comparisons to RevMed and placed Erasca at risk of violating patent and trade secret protections; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.