Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 131

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 16
Chunk 131
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 Black-Scholes option pricing model to determine the fair value of the stock to be purchased under the ESPP were as follows: 

        Year Ended December 31,

        2024
         
        2023

        Risk-free interest rate
         
        4.24%-5.39%
         
        4.43%-5.36%

        Expected volatility
         
        68.73%-74.72%
         
        70.00%-82.79%

        Expected term (in years)
         
        0.49-2.00
         
        0.49-1.99

        Expected dividend yield
         
        --%
         
        --%
       
      Stock-based compensation expense The allocation of stock-based compensation for all stock awards was as follows (in thousands): 

        Year Ended December 31,

        2024

        2023

        Research and development
         
        $
        13,286

        $
        13,972

        General and administrative

        13,687

        12,259

        Total
         
        $
        26,973

        $
        26,231

Note 11. Leases Operating leases The Company has facility leases for laboratory and office space under non-cancellable and cancellable operating leases with various expiration dates through 2032 and equipment under a non-cancellable operating lease with a term expiring in 2026.  Lease costs were comprised of the following (in thousands): 

        Year Ended December 31,

        2024

        2023

        Operating lease cost
        $
        8,020

        $
        7,644

        Variable lease cost
         
        3,704

        3,731

        Sublease income
         
        (1,288
        )

        —

        Total lease cost
        $
        10,436

        $
        11,375

       The Company paid $7.8 million and $6.9 million in cash for operating leases, net of cash received from subleases, that is included in the operating activities section of the consolidated statements of cash flows for the years ended December 31, 2024 and 2023, respectively.  The weighted-average remaining lease term and the weighted-average discount rate of the Company’s operating leases were 7.33 years and