Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 265

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 265
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 expenses as incurred since recoverability of such expenditures is uncertain.

We expect our general and administrative expenses will increase substantially for the foreseeable future as we continue to increase our general and administrative headcount to support our continued research and development activities and, if any product candidates receive marketing approval, commercialization activities, as well as to support our operations generally. 

Other income (expense), net

Interest income

Interest income consists primarily of interest earned on our cash, cash equivalents and marketable securities.

Results of operations

Comparison of the years ended December 31, 2024 and 2023

The following table summarizes our results of operations for the years ended December 31, 2024 and 2023 (in thousands):

    Year Ended December 31,

    2024

    2023

    Change

    Operating expenses:

    Research and development
     
    $
    115,359

    $
    103,821

    $
    11,538

    In-process research and development

    22,500

    —

    22,500

    General and administrative

    41,728

    37,704

    4,024

    Total operating expenses

    179,587

    141,525

    38,062

    Loss from operations

    (179,587
    )

    (141,525
    )

    (38,062
    )

    Total other income (expense), net

    17,937

    16,483

    1,454

    Net loss
     
    $
    (161,650
    )
     
    $
    (125,042
    )
     
    $
    (36,608
    )

117

Research and development expenses

Research and development expenses were $115.4 million for the year ended December 31, 2024 compared to $103.8 million for the year ended December 31, 2023. The increase of $11.5 million was primarily driven by an increase of $10.0 million in expenses incurred in connection with clinical trials, preclinical studies and discovery activities and an impairment charge of $3.0 million on operating lease assets, leasehold improvements, and furniture related to the sublease of the first floor of our San Diego facility during the year ended December 31, 2024, partially offset by a $1.5 million decrease in personnel costs, including stock-based compensation expense,