Erasca Inc. overhyped its cancer-targeting molecular glue while improperly comparing its preclinical data with a competitor’s, a proposed class action said.
The proposed class includes those who acquired Erasca stock from Jan. 14, 2025, to April 26, 2026. During this time period, Erasca and two top executives touted its study drug ERAS-0015 to investors without disclosing risks of the company potentially violating patent and trade secret protections, the complaint filed Wednesday said.
Before the market opened April 27, the company disclosed Revolution Medicines Inc. sent a cease-and-desist letter alleging ERAS-0015 was “substantially equivalent” to compositions in one of its patents. ...
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