Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 128

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 16
Chunk 128
---
 at December 31, 2024

        33,910,721

        $
        3.93

        7.78

        $
        12,989

        Options exercisable at December 31, 2024

        17,883,912

        $
        4.58

        7.00

        $
        6,522

       The weighted-average grant date fair value of options granted for the years ended December 31, 2024 and 2023 was $1.31 and $2.70, respectively. As of December 31, 2024, the unrecognized compensation cost related to unvested stock option grants was $35.9 million and is expected to be recognized as expense over approximately 2.41 years. The intrinsic value of the options exercised for the years ended December 31, 2024 and 2023 was $1.1 million and $1.2 million, respectively. Prior to the Company's IPO, certain individuals were granted the ability to early exercise their stock options. The shares of common stock issued from the early exercise of unvested stock options were restricted and continued to vest in accordance with the original vesting schedule. The Company had the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees and non-employees pursuant to the early exercise of stock options were not deemed, for accounting purposes, to be outstanding until those shares vested. The cash received in exchange for exercised and unvested shares related to stock options granted was recorded as a liability for the early exercise of stock options on the accompanying consolidated balance sheets and were transferred into common stock and additional paid-in capital as the shares vested. As of December 31, 2024 and 2023, there were zero shares and 371,876 shares subject to repurchase by the Company, respectively. As of December 31, 2024 and 2023, the Company recorded $0 and $464,000 of liabilities associated with shares issued with repurchase rights, respectively, which is recorded in accrued expenses and other current liabilities. 

 F-22

 The assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee and nonemployee stock option grants were as follows: 

        Year Ended December 31,

        2024
         
        2023

        Risk-free interest rate