MedCity News July 16, 2021
Cancer drug developer Erasca, whose mission is to “erase cancer,” has raised $300 million from its IPO. The clinical-stage biotech addresses a single elusive cancer target; it has multiple programs taking multiple approaches, two of them in human testing and the rest on track to join them.
Erasca, a biotech developing therapies designed to hit a notoriously difficult cancer target, now has $300 million in fresh cash to continue clinical development of its lead programs and bring a slate of additional drug candidates into human testing.
The San Diego-based company initially planned to offer 17.5 million shares in the range of $14 to $16 each. But Erasca was able to upsize the deal to 18.75 million shares offered at the...
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