A securities class action has been filed against Erasca, Inc. (ERAS) n behalf of all investors who purchased or otherwise acquired Erasca securities between January 14, 2025 through April 26, 2026. This case has been filed in the USDC – SDCA.
According to the complaint, during the class period, defendants made false and/or misleading statements, and failed to disclose material facts, including that: (1) ERAS-0015’s preclinical data was based on improper comparisons to Revolution Medicines, Inc. (“RevMed”) and placed Erasca at risk of violating patent and trade secret protections; and (2) based on the foregoing, defendants lacked a reasonable basis for their positive statements related to ERAS-0015.
Plaintiff alleges that on April 27, 2026, at 8:31 a.m. EDT before the market opened, Erasca disclosed in a Form 8-K that it had received a letter from legal counsel for RevMed alleging that Erasca’s ERAS- 0015 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’s common stock fell from $21.49 per share on April 24, 2026 to $19.15 per share on April 27, 2026.