Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 135

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 16
Chunk 135
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 cash flows and a discount rate. Changes in the estimates and assumptions used could materially affect the amount of impairment loss recognized in the period the asset group is considered impaired. Future minimum lease payments and sublease receipts under operating leases as of December 31, 2024 are as follows (in thousands): 

        Operating Lease Payments

        Operating Sublease Receipts

        Year ending December 31,

        2025
        $
        9,024

        $
        2,582

        2026
         
        9,170

        1,409

        2027
         
        9,199

        1,406

        2028
         
        9,277

        1,448

        2029
         
        9,572

        1,237

        Thereafter
         
        25,526

        —

        Total lease payments or sublease receipts
        $
        71,768

        $
        8,082

        Less: Amount representing interest
         
        (19,879
        )

        Operating lease liabilities
        $
        51,889

Note 12. Commitments and contingencies  Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. There are no matters currently outstanding for which any such liabilities have been accrued. Strategic reprioritization In May 2024, in connection with the execution of the Joyo License Agreement and the Medshine License Agreement, the Company approved a strategic reprioritization to focus a substantial portion of the Company’s resources on its naporafenib program, its ERAS-0015 product candidate, which is the lead candidate from the Joyo License Agreement, and its ERAS-4001 product candidate, which is the lead candidate from the Medshine License Agreement. The Company deprioritized its HERKULES-3 clinical trial evaluating ERAS-007 in combination with encorafenib and cetuximab (EC) in patients with EC-naïve BRAFm colorectal cancer, its THUNDERBBOLT-1 clinical trial evaluating ERAS-801 in patients with recurrent glioblastoma, and its ERAS-4 pan-KRAS program. The Company is exploring further advancement of the ERAS-801 program,