Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 297

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 297
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 in the consolidated statements of operations and comprehensive loss. These impairment adjustments were determined based on fair value which represented Level 3 nonrecurring fair value measurements. Calculating the fair value of the equity investment involved unobservable inputs, including the terms and preferences of Affini-T's financings, cash flow projections and significant estimates and assumptions. Changes in the estimates and assumptions used could materially affect the amount of impairment losses recognized in the periods the equity investment is considered impaired. No adjustment was made to the value of the Company’s equity investment in Affini-T during the year ended December 31, 2023. No transfers between levels have occurred during the periods presented.  Cash equivalents consist of money market funds, short-term marketable securities consist of US treasury securities, US government agency securities, corporate debt securities, commercial paper, and Yankee debt securities, and long-term marketable securities consist of US treasury securities and US government agency securities. The Company obtains pricing information from its investment manager and generally determines the fair value of marketable securities using standard observable inputs, including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, and bid and/or offers.

Note 4. Marketable securities The following tables summarize the Company’s marketable securities accounted for as available-for-sale securities (in thousands, except years): 

        December 31, 2024

        Maturity
         
        Amortized

        Unrealized

        Unrealized

        Estimated

        (in years)
         
        cost

        gains

        losses

        fair value

        US treasury securities
         
        1 or less
         
        $
        42,694

        $
        155

        $
        —

        $
        42,849

        US government agency securities
         
        1 or less

        22,350

        70

        —

        22,420

        Corporate debt securities
         
        1 or less

        30,641

        60

        —

        30,701

        Commercial paper
         
        1 or less

        129,500

        107

        (46
        )

        129,561

        Yankee debt securities
         
        1 or less

        5,045

        —

        (6
        )

        5,039

        US treasury securities
         
        1-2