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Erasca (ERAS) just unveiled an update.
Erasca, Inc. has initiated a private placement agreement to sell over 21 million shares at $2.06 each, aiming to raise around $45 million before fees and expenses. Scheduled to close on April 2, 2024, the funds are earmarked for research and development, working capital, and general corporate purposes. This capital injection is anticipated to support the company’s operations well into the second half of 2026. BofA Securities is serving as the placement agent for this transaction, which adheres to Nasdaq rules and SEC registration requirements for the resale of these shares.
Learn more about ERAS stock on TipRanks’ Stock Analysis page.