Erasca (ERAS)


Market Price (10/22/2026): $14.45 | Market Cap: $4.5 BilSector: Health Care | Industry: Biotechnology

Erasca (ERAS)


Market Price (10/22/2026): $14.45
Market Cap: $4.5 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -151 Mil

Stock price has recently run up significantly
12M Rtn12 month market price return is 509%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%

High stock price volatility
Vol 12M is 102%

Key risks
ERAS key risks include [1] its complete dependence on positive clinical trial outcomes for its lead drug candidates, Show more.

0 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
1 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -151 Mil
4 Stock price has recently run up significantly
12M Rtn12 month market price return is 509%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
6 High stock price volatility
Vol 12M is 102%
7 Key risks
ERAS key risks include [1] its complete dependence on positive clinical trial outcomes for its lead drug candidates, Show more.

ERAS in ETFs

Weight = ERAS's share of each fund

VTI0.01%
ITOT0.01%
IWM0.11%
VB0.03%
XBI1.2%
IBB0.24%
IWO0.21%
VTWO0.11%
+9 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Erasca (ERAS) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Significant Stock Dilution from Upsized Public Offering.

In July 2026, Erasca completed a substantial upsized public offering, raising approximately $632.5 million in gross proceeds by selling 31,428,572 shares of its common stock at a price of $17.50 per share. This significant issuance of new shares likely contributed to the downward pressure on the stock price due to dilution.

2. Q2 2026 Earnings Missed Analyst Expectations.

Erasca reported its fiscal Q2 2026 earnings on August 11, 2026, posting an earnings per share (EPS) of ($0.14). This figure missed analysts' consensus estimates of ($0.11) per share by $0.03, representing a negative earnings surprise of 16.67%.

Show more
Updated on 10/20/2026

Erasca (ERAS) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Significant Stock Dilution from Upsized Public Offering.

In July 2026, Erasca completed a substantial upsized public offering, raising approximately $632.5 million in gross proceeds by selling 31,428,572 shares of its common stock at a price of $17.50 per share. This significant issuance of new shares likely contributed to the downward pressure on the stock price due to dilution.

2. Q2 2026 Earnings Missed Analyst Expectations.

Erasca reported its fiscal Q2 2026 earnings on August 11, 2026, posting an earnings per share (EPS) of ($0.14). This figure missed analysts' consensus estimates of ($0.11) per share by $0.03, representing a negative earnings surprise of 16.67%.

3. Departure of Chief Operating Officer and Subsequent Investor Concern.

On October 16, 2026, Erasca announced the termination of employment for Nicholas (Nik) Chetwyn, the company's Chief Operating Officer, effective November 2, 2026. The company cited a realignment of leadership responsibilities. This news led to a nearly 10% decline in Erasca's stock price, falling $1.48 per share to close at $13.39 on October 16, 2026. The announcement also prompted a law firm to investigate potential securities fraud claims on behalf of investors, signaling increased market uncertainty regarding leadership stability and future operational direction.

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Stock Movement Drivers

Fundamental Drivers

The -20.9% change in ERAS stock from 6/30/2026 to 10/21/2026 was primarily driven by a -1.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610212026Change
Stock Price ($)18.3214.49-20.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)306311-1.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/21/2026
ReturnCorrelation
ERAS-20.9% 
Market (SPY)3.5%32.6%
Sector (XLV)12.8%-6.5%

Fundamental Drivers

The -10.4% change in ERAS stock from 3/31/2026 to 10/21/2026 was primarily driven by a -8.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)331202610212026Change
Stock Price ($)16.1814.49-10.4%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)284311-8.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/21/2026
ReturnCorrelation
ERAS-10.4% 
Market (SPY)19.2%26.2%
Sector (XLV)22.6%2.4%

Fundamental Drivers

The 564.7% change in ERAS stock from 9/30/2025 to 10/21/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510212026Change
Stock Price ($)2.1814.49564.7%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)283311-9.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/21/2026
ReturnCorrelation
ERAS564.7% 
Market (SPY)17.0%14.7%
Sector (XLV)30.2%7.8%

Fundamental Drivers

The 635.5% change in ERAS stock from 9/30/2023 to 10/21/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310212026Change
Stock Price ($)1.9714.49635.5%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)150311-51.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/21/2026
ReturnCorrelation
ERAS635.5% 
Market (SPY)87.1%25.4%
Sector (XLV)45.6%23.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ERAS Return-11%-72%-51%18%48%293%-16%
Peers Return-15%-20%-11%0%-35%-44%-78%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
ERAS Win Rate50%42%25%33%58%50% 
Peers Win Rate46%31%44%47%47%24% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ERAS Max Drawdown--75%-62%-30%-61%-59% 
Peers Max Drawdown-35%-40%-49%-45%-59%-51% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, CMND, CNSY, CNXU, CSBR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)

How Low Can It Go

EventERASS&P 500
2025 US Tariff Shock
  % Loss-29.8%-18.8%
  % Gain to Breakeven42.5%23.1%
  Time to Breakeven24 days79 days
2024 Yen Carry Trade Unwind
  % Loss-10.4%-7.8%
  % Gain to Breakeven11.7%8.5%
  Time to Breakeven6 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.5%-9.5%
  % Gain to Breakeven50.3%10.5%
  Time to Breakeven91 days24 days
2023 SVB Regional Banking Crisis
  % Loss-33.1%-6.7%
  % Gain to Breakeven49.4%7.1%
  Time to Breakeven987 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-70.4%-24.5%
  % Gain to Breakeven238.0%32.4%
  Time to Breakeven1358 days427 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Erasca's stock fell -29.8% during the 2025 US Tariff Shock. Such a loss loss requires a 42.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventERASS&P 500
2025 US Tariff Shock
  % Loss-29.8%-18.8%
  % Gain to Breakeven42.5%23.1%
  Time to Breakeven24 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.5%-9.5%
  % Gain to Breakeven50.3%10.5%
  Time to Breakeven91 days24 days
2023 SVB Regional Banking Crisis
  % Loss-33.1%-6.7%
  % Gain to Breakeven49.4%7.1%
  Time to Breakeven987 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-70.4%-24.5%
  % Gain to Breakeven238.0%32.4%
  Time to Breakeven1358 days427 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Erasca's stock fell -29.8% during the 2025 US Tariff Shock. Such a loss loss requires a 42.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Erasca (ERAS)

Erasca, Inc. (ERAS) is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of new therapies for patients afflicted with cancers driven by the RAS/MAPK pathway. This pathway is a fundamental cellular signaling network frequently found to be overactive in various aggressive cancers, making it a critical target for novel therapeutic interventions.

The company's pipeline includes several key drug candidates currently undergoing clinical trials. Its lead candidate, ERAS-007, is an oral inhibitor of ERK1/2, being developed for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia. Another significant program is ERAS-601, an oral SHP2 inhibitor designed for patients with advanced or metastatic solid tumors.

Additionally, Erasca is advancing ERAS-801, a central nervous system-penetrant EGFR inhibitor, specifically for patients diagnosed with recurrent glioblastoma multiforme, a highly aggressive form of brain cancer. Through these targeted therapies, Erasca aims to serve patients suffering from various challenging cancers by providing precise, pathway-specific treatment options.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Erasca:

  • Like a clinical-stage Genentech, but focused on difficult-to-treat RAS/MAPK pathway cancers.
  • A nascent Pfizer, entirely dedicated to discovering new drugs for specific cancer pathways.
  • A specialized Amgen, developing targeted therapies for challenging cancer pathways.

AI Analysis | Feedback

  • ERAS-007: An oral inhibitor of ERK1/2 for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia.
  • ERAS-601: An oral SHP2 inhibitor for patients with advanced or metastatic solid tumors.
  • ERAS-801: A central nervous system-penetrant EGFR inhibitor for the treatment of patients with recurrent glioblastoma multiforme.

AI Analysis | Feedback

Erasca, Inc. (ERAS) is a clinical-stage biopharmaceutical company. This means it is currently focused on the research, discovery, and development of therapeutic candidates, and conducting clinical trials. As such, Erasca does not yet have commercial products on the market or major customers in the traditional sense of purchasing its therapies. Its primary activities involve drug development and clinical testing for future commercialization.

AI Analysis | Feedback

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Here is the management team of Erasca (ERAS):

Jonathan E. Lim, M.D., Chairman, CEO and Co-founder

Jonathan E. Lim, M.D., co-founded Erasca in July 2018. He is described as a physician-turned-venturepreneur at City Hill and ARCH Venture, focusing on founding, funding, and leading for-profit and non-profit ventures. Prior to Erasca, Dr. Lim served as Chairman and/or CEO and founding investor of six biotechnology companies. These companies collectively achieved global regulatory approval and launched seven therapeutic products in oncology, immunology, and drug delivery, generating approximately $10 billion of shareholder value. He co-founded Ignyta in 2011 and served as its Chairman, President, and CEO until its acquisition by Roche in 2018. He also served as Chairman and co-founder of Bonti from 2015 until its 2018 acquisition by Allergan, and Chairman, CEO, and co-founder of Eclipse Therapeutics from 2011 to its 2012 acquisition by Bionomics. Additionally, he was President, CEO, and a board member of Halozyme Therapeutics from 2003 to 2010. Dr. Lim also founded his own family office fund, City Hill Ventures, which primarily invests in biotechnology companies.

David Chacko, M.D., Chief Financial Officer and Chief Business Officer

David Chacko serves as Erasca's Chief Financial Officer and Chief Business Officer, overseeing finance, investor relations, corporate and business development, and other functions. He joined Erasca in 2019 as Chief Business Officer and assumed the role of Chief Financial Officer in 2020. Before joining Erasca, Dr. Chacko was a Principal at Versant Ventures, where he held a dual investing and operating role, involved in company formation, fundraising, business development, and clinical and regulatory activities for several portfolio companies. Prior to Versant, he was Chief of Staff to the CEO at Alcon, where he worked with the executive leadership team on corporate initiatives.

Nik Chetwyn, Ph.D., Chief Operating Officer

Nik Chetwyn is the Chief Operating Officer at Erasca. Before joining Erasca, he was the Co-founder and President of MindScienceConnection, Inc., a strategy and leadership development company that partnered with biopharmaceutical companies. Prior to that, during his tenure at Genentech, Dr. Chetwyn served on multiple governance committees and was a technical development team leader.

Ebun Garner, J.D., Chief Legal Officer

Ebun Garner is Erasca's Chief Legal Officer and Corporate Secretary. He has nearly 30 years of experience representing publicly traded life science companies and has served as in-house counsel since 2005. Throughout his career, Mr. Garner has held roles such as Chief Legal Officer, General Counsel, or Assistant General Counsel at various biotechnology, biopharmaceutical, and medical device companies, including Imbria Pharmaceuticals, Neurocrine Biosciences, Acadia Pharmaceuticals, and Alphatec Spine.

Robert Shoemaker, Ph.D., Chief Scientific Officer

Robert Shoemaker is Erasca's Chief Scientific Officer. He previously served as Erasca's SVP of Research and Vice President of Biology since helping launch the company in July 2018. With over 20 years of experience in computational biology, he possesses expertise in biology, bioinformatics, and drug development. Prior to Erasca, Dr. Shoemaker led the computational biology group at Ignyta from its inception in 2011 until its acquisition by Roche in 2018. He played a key role in developing a patient selection strategy for the lead drug candidate, entrectinib, at Ignyta.

AI Analysis | Feedback

Here are the key risks to Erasca (ERAS):
  1. Clinical Development and Regulatory Approval Risk: As a clinical-stage biopharmaceutical company, Erasca's success is fundamentally dependent on the successful outcome of its clinical trials and the subsequent regulatory approval of its product candidates, such as ERAS-007, ERAS-601, and ERAS-801. There are inherent uncertainties in clinical trials, including the risk of unfavorable results, delays, or outright failure, which could significantly impact the company's prospects. The company currently has no commercially approved products and generates zero revenue, making the progression and success of its pipeline critical.
  2. Financial Sustainability and Future Funding Needs: Erasca is currently unprofitable, reporting ongoing operational losses and negative earnings per share. While the company has bolstered its cash position and expects its current funds to support operations into the second half of 2028, substantial research and development expenses and cash burn continue. There is a high likelihood that future equity raises will be necessary to fund continued operations and drug development, which could lead to dilution for existing shareholders.
  3. Intense Competition: Erasca operates within a highly competitive landscape, particularly in the RAS inhibitor space. Larger and more established biopharmaceutical companies are also pursuing similar therapeutic targets, which could make Erasca's market positioning challenging, even if its product candidates are successful.

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Expected Drivers of Future Revenue Growth for Erasca (ERAS) over the Next 2-3 Years:

  • Advancement and Potential Approval of ERAS-0015: Erasca's pan-RAS molecular glue, ERAS-0015, is a key program with promising early Phase 1 activity, demonstrating ongoing responses across various RAS-mutant tumors and a favorable safety profile. The company expects to release Phase 1 monotherapy data from both its U.S. and China trials in the first half of 2026, with plans to initiate expansion and combination cohorts in the second half of 2026 and 2027. Erasca has also expanded its worldwide licensing agreement for ERAS-0015, indicating a strong commitment to its global development and commercialization.
  • Advancement and Potential Approval of ERAS-4001: As a "potential first-in-class and best-in-class pan-KRAS inhibitor," ERAS-4001 represents another significant driver within Erasca's focused RAS-targeting franchise. Initial Phase 1 monotherapy data for ERAS-4001 is anticipated in the second half of 2026, with subsequent plans for the initiation of monotherapy expansion and combination dose escalation cohorts in 2027. Given the high prevalence of KRAS alterations in numerous cancers, ERAS-4001 targets a substantial market opportunity.
  • Successful Progression and Potential Approval of Naporafenib in NRASm Melanoma: Naporafenib, a pan-RAF inhibitor, is currently undergoing a pivotal Phase 3 registrational trial, SEACRAFT-2, for patients with NRAS-mutant (NRASm) melanoma. The trial has received FDA Fast Track Designation, and Stage 1 randomized data is expected in the second half of 2025. Naporafenib holds the potential to be a "first-to-market" targeted therapy in NRASm melanoma, an area with significant unmet medical need and no currently approved targeted treatments.

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Share Issuance

  • Erasca completed its Initial Public Offering (IPO) on July 16, 2021, raising approximately $345 million in gross proceeds.
  • In January 2026, the company completed an upsized public offering of common stock, which generated approximately $258.8 million in gross proceeds.

Inbound Investments

  • Erasca has raised a total funding of $300 million across five rounds, including a post-IPO funding round on March 27, 2024.
  • As of December 31, 2025, Erasca held $341.8 million in cash, cash equivalents, and marketable securities, with pro forma cash expected to fund operations into the second half of 2028 following a January 2026 public offering.

Outbound Investments

  • In 2022, Erasca acquired naporafenib from Novartis for $20 million.
  • The company spent $22.5 million in 2024 to license ERAS-4001 from Medshine Discovery and secure ex-China rights for ERAS-0015 from Joyo Pharmatech.

Peer Outperformance in Biotechnology

ERAS has outperformed 72% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that ERAS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
98%
of 452 industry peers · 508.8% return
3Y
94%
of 398 industry peers · 552.7% return
5Y
72%
of 363 industry peers · -25.1% return
No Biotechnology peer with a comparable growth profile has beaten ERAS by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is ERAS's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 16.9%54.7%100.0% CAH 481% · MCK 402% · COR 192%
Health Care Services 20 15.9%40.3%9.3% HIMS 245% · RDNT 125% · DGX 81%
Health Care Facilities 24 7.1%15.7%4.4% THC 282% · NHC 281% · ENSG 138%
Managed Health Care 8 36.1%-0.9%2.5% OSCR 99% · HQY 49% · ELV 9%
Health Care Equipment 50 -5.8%3.4%-12.7% UFPT 364% · GKOS 286% · TMDX 157%
Pharmaceuticals 61 -11.9%1.9%-34.2% LQDA 945% · KNSA 627% · CORT 518%
Health Care Supplies 11 15.5%-6.5%-40.2% LNTH 334% · HAE 63% · MMSI 29%
Life Sciences Tools & Services 109 -11.9%-9.2%-66.5% NTRA 268% · MEDP 256% · IRTC 61%
Biotechnology ← 364 -24.5%-24.7%-80.9% DNTH 1113% · ELVN 1062% · ADMA 810%
Health Care Technology 22 -28.0%-64.5%-82.8% VEEV -1% · DOCS -51%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ERASVRTXCMNDCNSYCNXUCSBRMedian
NameErasca Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Mkt Price14.45524.755.921.703.204.935.42
Mkt Cap4.5133.10.00.00.10.10.1
Rev LTM012,587000610
Op Inc LTM-1514,777-9-26-14-1-11
FCF LTM-2523,796-7-24-11-6-9
FCF 3Y Avg-1641,957-5-17--0-5
CFO LTM-984,293-7-22-11-6-9
CFO 3Y Avg-1032,398-5-16-0-5

Growth & Margins

ERASVRTXCMNDCNSYCNXUCSBRMedian
NameErasca Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Rev Chg LTM-10.2%---6.7%8.4%
Rev Chg 3Y Avg-9.8%---4.9%7.4%
Rev Chg Q-12.5%---8.8%10.6%
QoQ Delta Rev Chg LTM-3.0%---2.1%2.6%
Op Inc Chg LTM-8.2%2,497.9%-53.0%-106.7%--131.0%-53.0%
Op Inc Chg 3Y Avg-0.9%792.2%-18.0%-26.9%-40.9%-0.9%
Op Mgn LTM-37.9%----1.5%18.2%
Op Mgn 3Y Avg-23.9%----0.7%11.6%
QoQ Delta Op Mgn LTM--0.2%---0.2%-0.0%
CFO/Rev LTM-34.1%----9.2%12.5%
CFO/Rev 3Y Avg-19.6%---0.3%9.9%
FCF/Rev LTM-30.2%----10.1%10.0%
FCF/Rev 3Y Avg-15.7%----0.4%7.7%

Valuation

ERASVRTXCMNDCNSYCNXUCSBRMedian
NameErasca Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Mkt Cap4.5133.10.00.00.10.10.1
P/S-10.6---1.15.9
P/Op Inc-29.927.9-0.1-0.4-6.3-73.5-3.4
P/EBIT-29.926.4-0.2-0.5-6.3-73.5-3.4
P/E-15.730.2-0.2-0.4-6.3-63.9-3.4
P/CFO-45.931.0-0.2-0.5-8.2-12.3-4.4
Total Yield-6.4%3.3%-638.2%-218.6%-15.2%-1.6%-10.8%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-15.0%1.6%-1,975.5%---1.2%-8.1%
D/E0.00.01.50.00.00.20.0
Net D/E-0.0-0.0-12.1-0.7-0.00.1-0.0

Returns

ERASVRTXCMNDCNSYCNXUCSBRMedian
NameErasca Vertex P.Clearmin.Cerenome Conexeu .Champion. 
1M Rtn-3.9%2.7%648.4%-10.5%-32.6%-6.3%-5.1%
3M Rtn-25.9%11.0%254.5%-57.1%-65.7%-19.6%-22.8%
6M Rtn-33.3%19.9%-30.7%-57.1%-77.8%-18.0%-32.0%
12M Rtn507.1%23.1%-98.6%-57.1%-77.8%-25.8%-41.4%
3Y Rtn550.9%45.0%-99.7%-57.1%-77.8%-23.4%-40.3%
1M Excs Rtn-5.7%3.3%659.4%-14.9%-26.0%-5.4%-5.6%
3M Excs Rtn-28.7%7.5%253.2%-60.4%-68.3%-21.3%-25.0%
6M Excs Rtn-40.5%12.6%-38.0%-64.3%-84.8%-25.4%-39.3%
12M Excs Rtn473.7%11.5%-112.3%-70.6%-91.0%-38.5%-54.5%
3Y Excs Rtn456.1%-34.9%-174.6%-130.9%-150.0%-98.2%-114.6%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Discovery and development of precision medicines for the benefit of patients with cancer396503395515501
Total396503395515501


Price Behavior

Price Behavior
Market Price$14.49 
Market Cap ($ Bil)4.5 
First Trading Date07/16/2021 
Distance from 52W High-35.5% 
   50 Days200 Days
DMA Price$15.95$14.70
DMA Trenddownup
Distance from DMA-9.1%-1.5%
 3M1YR
Volatility58.1%102.0%
Downside Capture223.2428.87
Upside Capture-24.39229.18
Correlation (S&P 500)28.4%15.5%
ERAS Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.281.351.782.121.121.46
Up Beta3.54-0.910.291.781.591.28
Down Beta9.326.783.212.471.751.73
Up Capture-72%71%141%228%330%759%
Bmk +ve Days6162766132424
Stock +ve Days9192963135361
Down Capture245%276%251%234%-52%106%
Bmk -ve Days16263760120328
Stock -ve Days13233563117366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ERAS
ERAS493.2%102.0%2.24-
Sector ETF (XLV)25.3%16.2%1.196.9%
Equity (SPY)16.2%12.7%0.9015.6%
Gold (GLD)-6.0%29.0%-0.2211.7%
Commodities (DBC)50.2%20.7%1.85-12.0%
Real Estate (VNQ)3.1%13.8%-0.036.7%
Bitcoin (BTCUSD)-25.3%43.4%-0.554.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ERAS
ERAS-3.9%82.8%0.33-
Sector ETF (XLV)9.0%15.3%0.3926.7%
Equity (SPY)13.6%17.1%0.6129.4%
Gold (GLD)17.7%18.9%0.766.3%
Commodities (DBC)9.5%19.5%0.37-1.6%
Real Estate (VNQ)1.1%18.9%-0.0525.8%
Bitcoin (BTCUSD)7.6%51.7%0.3317.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ERAS
ERAS-1.6%82.4%0.33-
Sector ETF (XLV)11.6%16.7%0.5725.6%
Equity (SPY)15.5%17.9%0.7328.5%
Gold (GLD)12.2%16.4%0.616.8%
Commodities (DBC)8.2%18.1%0.37-1.0%
Real Estate (VNQ)5.2%20.7%0.2124.8%
Bitcoin (BTCUSD)62.6%66.2%1.0217.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity35.3 Mil
Short Interest: % Change Since 91520267.0%
Average Daily Volume5.1 Mil
Days-to-Cover Short Interest6.9 days
Basic Shares Quantity311.3 Mil
Short % of Basic Shares11.4%

Earnings Returns History

Updated 10/16/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20261.5%-1.1%-12.5%
5/11/2026-0.6%-1.6%28.1%
3/12/2026-7.0%4.2%11.3%
11/12/2025-4.2%4.2%29.4%
8/12/20253.8%-2.6%3.2%
5/13/2025-4.5%-3.8%15.0%
3/20/20253.4%4.7%-16.2%
11/12/2024-4.7%-6.7%-12.0%
...
SUMMARY STATS   
# Positive12109
# Negative81011
Median Positive3.6%5.5%11.3%
Median Negative-4.3%-3.6%-12.0%
Max Positive16.6%12.3%29.4%
Max Negative-8.8%-12.1%-26.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20261.5%-1.1%-12.5%
5/11/2026-0.6%-1.6%28.1%
3/12/2026-7.0%4.2%11.3%
11/12/2025-4.2%4.2%29.4%
8/12/20253.8%-2.6%3.2%
5/13/2025-4.5%-3.8%15.0%
3/20/20253.4%4.7%-16.2%
11/12/2024-4.7%-6.7%-12.0%
8/12/20240.4%6.2%18.5%
5/8/2024-8.8%-12.1%10.5%
11/9/20230.0%10.4%-8.5%
8/10/202311.9%-3.5%3.1%
5/15/2023-4.1%-1.4%-8.4%
3/23/20231.8%4.3%-2.9%
11/9/202216.6%12.3%-15.0%
8/11/202215.3%6.3%5.8%
5/12/2022-0.2%-4.6%-14.1%
3/24/20227.2%-5.8%-7.0%
11/10/20216.0%4.7%-26.3%
8/26/20212.7%8.7%-9.3%
SUMMARY STATS   
# Positive12109
# Negative81011
Median Positive3.6%5.5%11.3%
Median Negative-4.3%-3.6%-12.0%
Max Positive16.6%12.3%29.4%
Max Negative-8.8%-12.1%-26.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/11/202610-Q
12/31/202503/12/202610-K
09/30/202511/12/202510-Q
06/30/202508/12/202510-Q
03/31/202505/13/202510-Q
12/31/202403/20/202510-K
09/30/202411/12/202410-Q
06/30/202408/12/202410-Q
03/31/202405/08/202410-Q
12/31/202303/27/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/15/202310-Q
12/31/202203/23/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/11/202610-Q
12/31/202503/12/202610-K
09/30/202511/12/202510-Q
06/30/202508/12/202510-Q
03/31/202505/13/202510-Q
12/31/202403/20/202510-K
09/30/202411/12/202410-Q
06/30/202408/12/202410-Q
03/31/202405/08/202410-Q
12/31/202303/27/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/15/202310-Q
12/31/202203/23/202310-K
09/30/202211/09/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202103/24/202210-K
09/30/202111/10/202110-Q
06/30/202108/26/202110-Q
03/31/202107/12/2021S-1/A

Insider Activity

Updated 8/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Garner, EbunChief Legal OfficerDirectSell403202616.4080,0001,312,000411,246Form
2Morris, ShannonChief Medical OfficerDirectSell306202615.0420,000  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Garner, EbunChief Legal OfficerDirectSell403202616.4080,0001,312,000411,246Form
2Morris, ShannonChief Medical OfficerDirectSell306202615.0420,000  Form

Investor Activity (13F)

Updated Oct 22, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
ARCH Venture Management, LLC$114.7 Mil16.9%10TRIM -35.9%13F
Vivo Capital, LLC$196.6 Mil16.3%46ADD +31.0%13F
5AM Venture Management, LLC$56.4 Mil15.7%20TRIM -35.5%13F
Frazier Life Sciences Management, L.P.$399.2 Mil10.3%38ADD +8.6%13F
Venrock Adviser, LLC$265.1 Mil9.9%33TRIM -8.3%13F
Cormorant Asset Management, LP$93.8 Mil4.7%46New13F
a16z Capital Management, L.L.C.$46.3 Mil3.6%16Hold13F
Paradigm Biocapital Advisors LP$168.2 Mil3.4%35TRIM -26.6%13F
Commodore Capital LP$51.4 Mil3.0%36New13F
Spruce Street Capital LP$6.8 Mil1.6%28TRIM -89.1%13F
First Turn Management, LLC$14.0 Mil1.6%33New13F
EcoR1 Capital, LLC$14.6 Mil0.6%29New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Cormorant Asset Management, LP$93.8 Mil4.7%46New13F
Commodore Capital LP$51.4 Mil3.0%36New13F
EcoR1 Capital, LLC$14.6 Mil0.6%29New13F
First Turn Management, LLC$14.0 Mil1.6%33New13F
Vivo Capital, LLC$196.6 Mil16.3%46ADD +31.0%13F
Frazier Life Sciences Management, L.P.$399.2 Mil10.3%38ADD +8.6%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Spruce Street Capital LP$6.8 Mil1.6%28TRIM -89.1%13F
ARCH Venture Management, LLC$114.7 Mil16.9%10TRIM -35.9%13F
5AM Venture Management, LLC$56.4 Mil15.7%20TRIM -35.5%13F
Paradigm Biocapital Advisors LP$168.2 Mil3.4%35TRIM -26.6%13F
Venrock Adviser, LLC$265.1 Mil9.9%33TRIM -8.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Frazier Life Sciences Management, L.P.$399.2 Mil10.3%38ADD +8.6%13F
Venrock Adviser, LLC$265.1 Mil9.9%33TRIM -8.3%13F
Vivo Capital, LLC$196.6 Mil16.3%46ADD +31.0%13F
Paradigm Biocapital Advisors LP$168.2 Mil3.4%35TRIM -26.6%13F
ARCH Venture Management, LLC$114.7 Mil16.9%10TRIM -35.9%13F
Cormorant Asset Management, LP$93.8 Mil4.7%46New13F
5AM Venture Management, LLC$56.4 Mil15.7%20TRIM -35.5%13F
Commodore Capital LP$51.4 Mil3.0%36New13F
a16z Capital Management, L.L.C.$46.3 Mil3.6%16Hold13F
EcoR1 Capital, LLC$14.6 Mil0.6%29New13F
First Turn Management, LLC$14.0 Mil1.6%33New13F
Spruce Street Capital LP$6.8 Mil1.6%28TRIM -89.1%13F
Core Cache Last Updated: 10/21/2026