Erasca Faces Class Action Lawsuit After Stock Plunges 48 Percent
A 48 percent collapse in Erasca stock has triggered a securities class action, as investors allege the company misled them regarding the intellectual property and safety profile of its experimental cancer drug, ERAS-0015, following a fatal patient adverse event and a legal challenge from rival Revolution Medicines.
The lawsuit, filed by Hagens Berman, targets the period between January 14, 2025, and April 26, 2026. Plaintiffs claim that Erasca improperly compared the efficacy of its drug candidate to Revolution Medicines’ RMC-6236 while failing to disclose that its intellectual property claims were under fire. Erasca had previously touted its pan-RAS molecular glue as a potential best-in-class treatment for solid tumors, even as the company faced accusations of misappropriating trade secrets.
The market’s confidence shattered on April 27, 2026, when Erasca revealed a dual blow: a legal challenge from Revolution Medicines questioning the validity of its patents and the report of a patient death occurring one month after treatment with ERAS-0015. The stock price fell by $9.25, erasing more than $2.8 billion in market capitalization. Reed Kathrein, a partner at Hagens Berman, stated the firm is investigating whether Erasca intentionally obscured the true safety profile and competitive positioning of its technology. Investors who suffered losses during the class period have until August 10, 2026, to file as lead plaintiffs.
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