Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 307

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 307
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 the fair market value of the Company’s common stock at the time the option is granted. For holders of more than 10% of the Company’s total combined voting power of all classes of stock, incentive stock options may not be granted at less than 110% of the fair market value of the Company’s common stock on the date of grant and for a term that exceeds five years. Early exercise was permitted for certain grants under the 2018 Plan.Stock options A summary of the Company’s stock option activity under the 2021 Plan and 2018 Plan is as follows (in thousands, except share and per share data and years): 

        Weighted-

        Weighted-

        average remaining

        Aggregate

        average

        contractual

        intrinsic

        Shares

        exercise price

        term (years)

        value

        Outstanding at December 31, 2023

        24,970,957

        $
        4.98

        8.12

        $
        4,412

        Granted

        12,255,945

        1.81

        Exercised

        (710,280
        )

        1.18

        Canceled

        (2,605,901
        )

        4.80

        Outstanding 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