Erasca, Inc. (NASDAQ: ERAS) disclosed that Chief Legal Officer Ebun Garner completed an equity transaction on April 1, 2026, selling 80,000 shares of common stock for aggregate proceeds of $1,312,000. The reported sales occurred at prices between $16.11 and $16.58 per share, according to a Form 4 filed with the Securities and Exchange Commission.
In the same filing, Garner is reported to have exercised options to acquire 80,000 shares of Erasca common stock at an exercise price of $1.70 per share, representing a total exercise value of $136,000. After these combined moves, Garner is recorded as directly holding 25,076 shares of company stock.
The filing states that the sale transactions were conducted under a pre-arranged Rule 10b5-1 trading plan that was adopted on June 30, 2024. The Form 4 provides the transaction mechanics and resulting shareholdings but does not attribute motives for the exercise or subsequent sale.
Alongside the insider disclosure, Erasca provided financial and strategic updates. For the fourth quarter of 2025, the company reported a net loss of $29.1 million and a full-year net loss of $124.6 million for 2025. The company also announced it has secured worldwide rights to its RAS-targeting therapy candidate ERAS-0015 after expanding a license agreement with Joyo Pharmatech Co., Ltd. to encompass China, Hong Kong, and Macau.
Analyst coverage has shifted in response to these corporate developments. Stifel and H.C. Wainwright each raised their price targets for Erasca to $20. Stifel cited the company's expansion into China, while H.C. Wainwright pointed to clinical progress with ERAS-0015. Clear Street likewise raised its price target to $20 and highlighted Erasca's agreement with Tango Therapeutics to evaluate ERAS-0015 in combination with a PRMT5 inhibitor. Stifel and Clear Street continue to carry Buy ratings on the stock, per the disclosures.
On the clinical front, Erasca's trials have produced signals the company and its analysts have pointed to as progress: there have been two confirmed partial responses in patients with RAS mutations. The company reports these as noteworthy clinical outcomes as it advances ERAS-0015 through development and strategic collaborations.
These items together - insider option activity and sale, reported losses for 2025, expanded licensing in Asia, analyst target increases, a partnership to test a combination regimen, and confirmed partial responses in RAS-mutant patients - form the current publicly disclosed picture of Erasca's corporate and clinical status. The SEC Form 4 records the specific insider transactions and the other company disclosures outline financial and programmatic milestones.