Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 139

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 16
Chunk 139
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 amount of unrecognized tax benefits for 2024 and 2023, excluding interest and penalties, is as follows (in thousands): 

        Year ended December 31,

        2024

        2023

        Balance at the beginning of the year
         
        $
        4,096

        $
        2,725

        (Decrease) increase related to prior year positions

        (28
        )

        99

        Increase related to current year positions

        1,343

        1,272

        Balance at the end of the year
         
        $
        5,411

        $
        4,096

       Included in the balance of unrecognized tax benefits as of December 31, 2024 is $5.0 million that, if recognized, would reduce the Company’s annual effective tax rate, subject to valuation allowance. The Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. The Company has filed income tax returns in Australia, the United States, California, and various other state jurisdictions. The Company is not currently under examination in any of these jurisdictions, and all of the Company’s tax years remain effectively open in all jurisdictions to examination due to net operating loss carryforwards. The Company’s policy is to recognize interest expense and penalties related to income tax matters as tax expense. For the years ended December 31, 2024 and 2023, the Company has not recognized any interest or penalties related to income taxes. 

Note 14. Net loss per share  The following table summarizes the computation of basic and diluted net loss per share of the Company (in thousands, except share and per share data):

        Year Ended December 31,

        2024

        2023

        Net loss

        $
        (161,650
        )
         
        $
        (125,042
        )

        Weighted-average shares of common stock used in computing net loss per share, basic and diluted

        233,817,916

        150,184,994

        Net loss per share, basic and diluted

        $
        (0.69
        )
         
        $
        (0.83
        )

 F-28

 The Company’s potentially dilutive securities, which include options to purchase common stock, shares purchasable under the ESPP and common stock subject to repurchase related to options early exercised, have been excluded