Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Erasca, Inc. (ERAS)

NEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Erasca, Inc. (“Erasca” or the “Company”) (NASDAQ: ERAS) securities between January 14, 2025 and April 26, 2026, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose to investors that: (1) ERAS-0015’s preclinical data was based on improper comparisons to Revolution Medicines, Inc. (“RevMed”) and placed Erasca at risk of violating patent and trade secret protections; and (2) based on the foregoing, Defendants lacked a reasonable basis for their positive statements related to ERAS-0015.

The Complaint alleges that on April 27, 2026, at 8:31 a.m. EDT before the market opened, Erasca disclosed in a Form 8-K that it had received a letter from legal counsel for RevMed alleging that Erasca’s ERAS0015 infringes a RevMed patent (U.S. Patent No. 12,409,225) and is connected to alleged trade secret misappropriation. The Complaint continues to allege that RevMed also alleged that Erasca had “improperly compared preclinical data of ERAS-0015 and RMC-6236 in public disclosures” and demanded Erasca cease making “deceptive and untrue comparative statements comparing ERAS-0015 and RMC-6236.” The Complaint alleges that Erasca stated that it believes the assertions are without merit and intends to contest the allegations.

The Complaint continues to allege that in response to this news, Erasca’s stock price fell from a closing price of $21.49 on April 24, 2026 to open at $20.70 per share on April 27, 2026. Erasca’s stock price continued to fall, closing at $19.15 on April 27, 2026.

Investors who purchased or otherwise acquired shares of Erasca should contact the Firm prior to the August 10, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.