Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 94

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 8
Chunk 94
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 to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the Company’s auditor since 2020.

San Diego, CaliforniaMarch 20, 2025

F-2

Erasca, Inc.

Consolidated Balance Sheets

(In thousands, except share and par value amounts)

    December 31,

    December 31,

    2024

    2023

    Assets

    Current assets:

    Cash and cash equivalents
     
    $
    67,739

    $
    93,075

    Short-term marketable securities

    230,570

    219,275

    Prepaid expenses and other current assets

    10,484

    8,326

    Total current assets

    308,793

    320,676

    Long-term marketable securities

    142,164

    9,642

    Property and equipment, net

    16,321

    22,327

    Operating lease assets

    32,218

    37,861

    Restricted cash

    408

    408

    Other assets

    2,622

    4,383

    Total assets
     
    $
    502,526

    $
    395,297

    Liabilities and Stockholders' Equity

    Current liabilities:

    Accounts payable
     
    $
    468

    $
    2,000

    Accrued expenses and other current liabilities

    26,308

    20,186

    Operating lease liabilities

    4