Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 310

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 310
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 may be increased annually on the first day of each calendar year during the term of the ESPP, beginning in 2022, by an amount equal to the lesser of (i) 1% of the shares of common stock outstanding on the final day of the immediately preceding calendar year or (ii) such smaller number of shares as determined by the Company’s board of directors or an authorized committee of the board of directors. The Company recognized stock-based compensation expense related to the ESPP of $839,000 and $1.5 million during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the unrecognized compensation cost related to the ESPP was $743,000 and is expected to be recognized as expense over approximately 1.05 years. As of December 31, 2024 and 2023, $50,000 and $46,000 has been withheld on behalf of employees for future purchase under the ESPP, respectively, and is included in accrued expenses and other current liabilities on the consolidated balance sheets. The Company issued and sold 510,729 and 388,933 shares under the ESPP during the years ended December 31, 2024 and 2023, respectively.  

 F-23

The assumptions used in the 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
         
        $