NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Erasca, Inc. (NASDAQ: ERAS) that a securities class action has been filed on behalf of purchasers of ERAS common stock between January 14, 2025 and April 26, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
Erasca shares collapsed 53.9%, losing $11.59 per share, after two corrective disclosures on April 27, 2026 revealed a patent infringement letter from Revolution Medicines and a Grade 5 patient death in Phase 1 trials. The lead plaintiff deadline is August 10, 2026.
What Investors Were Not Told
For more than 15 months, Erasca's management presented ERAS-0015 as a "potential best-in-class pan-RAS molecular glue" with superior preclinical properties to RevMed's RMC-6236. Across multiple J.P. Morgan Healthcare Conference presentations, SEC filings, and investor materials, the Company repeatedly emphasized 8-to-21-fold higher binding affinity and comparable tumor regression at 1/10th the dose. The lawsuit contends these comparisons were improper and exposed Erasca to serious intellectual property challenges that were never disclosed to shareholders.
The Red Flags That Emerged
The securities action alleges that behind the public narrative of clinical promise, critical risks were building:
- RevMed's U.S. Patent No. 12,409,225 allegedly covered technology central to ERAS-0015's mechanism, creating infringement exposure the Company did not disclose
- Preclinical comparisons to RMC-6236 were cross-study analyses, not head-to-head clinical trials, yet were presented without adequate qualification
- RevMed accused Erasca of making "deceptive and untrue comparative statements" and alleged trade secret misappropriation
- A patient receiving 24 mg of ERAS-0015 experienced a Grade 3 treatment-related adverse event of pneumonitis that progressed to Grade 5 (death), which was not disclosed until after the stock had already dropped on the patent news
- Erasca raised approximately $258.8 million through a January 2026 stock offering while these risks allegedly existed but remained undisclosed
Inside Knowledge vs. Public Statements
The complaint charges that Defendants knew or recklessly disregarded that the preclinical comparisons to RevMed's product were improper and that the Company faced patent and trade secret liability. As pleaded, the alleged misstatements were not identified as forward-looking when made, and there were no meaningful cautionary statements identifying important factors that could cause actual results to differ. The timing of the $258.8 million offering, occurring just months before these risks surfaced publicly, further supports an inference that insiders understood the undisclosed dangers.
Submit your information to recover losses or call Joseph E. Levi, Esq. at (212) 363-7500.
"The timeline raises important questions about when certain risks were known internally versus when they were disclosed to the investing public. Shareholders who purchased ERAS stock based on repeated assurances about ERAS-0015's competitive superiority deserve answers about why patent exposure and safety events were withheld." -- Joseph E. Levi, Esq.
Act now to protect your rights or contact (212) 363-7500.
ABOUT THE FIRM -- Levi & Korsinsky represents investors in securities class actions nationwide, with a track record of recovering hundreds of millions for shareholders harmed by alleged corporate concealment. Ranked among ISS Top 50 for seven consecutive years. Lead plaintiff applications must be submitted by August 10, 2026.
Frequently Asked Questions About the ERAS Lawsuit
Q: When did Erasca allegedly mislead investors? A: The class period runs from January 14, 2025 through April 26, 2026. During this time, Erasca allegedly made materially false or misleading statements about ERAS-0015's preclinical superiority and intellectual property position. When the true risks were revealed through two corrective disclosures on April 27, 2026, the stock price declined sharply.
Q: What specific misstatements does the ERAS lawsuit allege? A: The complaint alleges Erasca made materially false or misleading statements regarding ERAS-0015's preclinical comparisons to RevMed's RMC-6236, including claims of superior binding affinity and comparable efficacy at a fraction of the dose. These comparisons were allegedly improper and exposed the Company to patent infringement and trade secret claims that were not disclosed.
Q: What do ERAS investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What if I already sold my ERAS shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
