Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 296

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 296
---
 —

        —

        US government agency securities(2)

        26,824

        —

        26,824

        —

        Corporate debt securities(2)

        10,734

        —

        10,734

        —

        Commercial paper(2)

        88,414

        —

        88,414

        —

        US treasury securities(3)

        9,642

        9,642

        —

        —

        Total fair value of assets
         
        $
        312,018

        $
        186,046

        $
        125,972

        $
        —

       (1)Included as cash and cash equivalents on the consolidated balance sheets.(2)Included as short-term marketable securities on the consolidated balance sheets.(3)Included as long-term marketable securities on the consolidated balance sheets. The carrying amounts of the Company’s financial instruments, including cash, prepaid expenses and other current assets, accounts payable, and accrued expenses and other current liabilities, approximate fair value due to their short maturities. As of December 31, 2024 and 2023, the Company held $0 and $2.0 million in equity investments in Affini-T Therapeutics, Inc. (Affini-T) at cost, less impairment, respectively. Two impairment adjustments totaling $2.2 million were made to the value of the Company’s equity investment in Affini-T during the year ended December 31, 2024. The Company was notified by Affini-T of an extension financing in June 2024 and the terms of such financing. Accordingly, the Company reassessed the value of its equity investment in Affini-T using a market approach as of June 30, 2024 and recorded an impairment adjustment of $402,000 to other expense, net in the consolidated statements of operations and comprehensive loss. The impairment was offset by a new investment obligation of approximately $235,000 recorded as of June 30, 2024. In July 2024, the Company paid approximately $157,000 of the new investment obligation related to the extension financing. Subsequently, the Company decided to opt out of paying the remaining $78,000 of the new investment obligation. Accordingly, the Company reassessed the value of its equity investment in Affini-T using a market 

 F-15

approach as of December 31, 2024 and recorded an impairment adjustment of $1.8 million to other expense, net