Jul. 13 at 7:18 PM
Goldman Sachs🏁
$ERAS with a Early-Stage Biotech rating.
$RVMD $IMRX TNGX BBOT ANL
Goldman Sachs said in its🏁:
We initiate coverage of Erasca (ERAS) as an Early-Stage Biotech.
ERAS is a clinical-stage precision oncology company developing assets in the pan-RAS and pan-KRAS space, which collectively target up to ~1/3 of all cancers, including significant portions of pancreatic (PDAC), lung (NSCLC), and colorectal cancers (CRC), representing ~130K patients/year in the U.S..
ERAS-0015 is an oral pan-RAS molecular glue (in-licensed May 2024 from Joyo Pharmatech), with preclinical and early clinical data suggestive of potential differentiation from lead competitor RVMD's daraxonrasib, which has set the standard in a field where competitors are naturally beginning to enter given the size of the market (we view ERAS as furthest along after RVMD).
