Erasca Inc. Common Stock (ERAS)

FairStock Score: 27/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett-and-Graham-style investor, I see Erasca as a speculative clinical-stage oncology company, not a proven business. It is pursuing RAS/MAPK-driven cancers with ERAS-0015, ERAS-4001, and ERAS-12. That is scientifically interesting, but promise is not a moat; there is no revenue in any filed period I have. In fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $44.1 million and diluted EPS was -$0.14. Fiscal Q1 2026 showed a $183.4 million net loss and -$0.60 diluted EPS, while FY2025 had a $124.5 million net loss and -$0.44 diluted EPS. Trailing free cash flow is -$252.1 million, a -4.9% FCF yield on the $5.2 billion market cap. At the 2026-10-13 close of $14.78, FairStock calculations show P/E -15.56, P/B 12.74, ROE -78.25%, and ROCE -21.39%. Debt/equity is low at 0.12, and Altman Z is 39.45, so leverage is not the immediate issue. But Piotroski is 0/9, the FairStock Score is 27/100, and the Lynch category is none because of losses in each of the last four years. The price sits in the upper part of the $2.11-$24.28 52-week range. Graham would want demonstrated earnings and a margin of safety; Buffett would want durable advantage and predictable cash generation. Neither is present. The pipeline may create value if trials succeed, but today the valuation rests on hope, not earning power.

In plain English: Erasca is a clinical-stage healthcare company trying to develop precision cancer medicines, especially for tumors driven by RAS/MAPK pathway changes. It has no product revenue in its filed periods and has lost money in each of the last four years, including a net loss of $44.1 million in fiscal Q2 2026. At the $14.78 close on 2026-10-13, the shares look expensive relative to a business with no sales or profits, though the science could still succeed.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer