Erasca Faces Class Action Lawsuit Following Stock Plunge

The complaint centers on claims that Erasca repeatedly touted ERAS-0015 as a superior, best-in-class therapy for RAS-mutated solid tumors. According to the lawsuit, these public assertions relied on improper preclinical comparisons to Revolution Medicines’ competing drug, RMC-6236, while concealing significant patent and trade secret disputes. The legal trouble surfaced on April 27, 2026, when the company admitted to these disputes and acknowledged that its comparative marketing claims were based on limited cross-study analyses rather than direct clinical trials.

On that same day, Erasca disclosed a patient death in its clinical program, triggering a sharp market reaction. The company’s stock price plummeted by more than 45%, erasing $9.90 per share in value. Investors seeking to serve as lead plaintiffs in the litigation must file their applications by August 10, 2026. The firm, headquartered in San Diego, faces scrutiny over its transparency during the development of its flagship precision oncology pipeline.