Company: ERAS
Filing Date: 2025-08-12
Form Type: S-3
Source: 0001193125-25-179038
Chunk: 51

Company: Erasca, Inc.
Filing Date: 2025-08-12
Form: S-3
Chunk 51
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 been approximately $566.4 million, or $1.33 per share of common stock. This represents an immediate increase in net tangible book value of $0.02 per share to our existing stockholders and an immediate dilution in net tangible book value of $0.07 per share to new investors in this offering at the assumed public offering price. The following table illustrates this calculation on a per share basis:

| Assumed public offering price per share                                           |     |   |      |     | $ | 1.40 |
| Net tangible book value per share as of June 30, 2025                             |     | $ | 1.31 |     |   |      |
| Increase in net tangible book value per share attributable to the offering        |     | $ | 0.02 |     |   |      |
| As adjusted net tangible book value per share after giving effect to the offering |     |   |      |     | $ | 1.33 |
| Dilution in net tangible book value per share to new investors in this offering   |     |   |      |     | $ | 0.07 |

The number of shares of our common stock to be outstanding immediately after this offering is based on 283,650,139 shares of our common stock outstanding as of June 30, 2025. The number of shares outstanding as of June 30, 2025 excludes:

| • |     | 47,790,988 shares of common stock issuable upon the exercise of options outstanding as of June 30, 2025, at 
 a weighted average exercise price of $3.25 per share; and                                                   |

| • |     | 17,516,848 shares of common stock reserved for future issuance under our 2021 Incentive Award Plan and our 2021 
 Employee Stock Purchase Plan as of June 30, 2025.                                                               |

The foregoing table does not give effect to the exercise of any outstanding options. To the extent options are exercised, there may be further dilution to new investors. S-10

PLAN OF DISTRIBUTION

We have entered into the Sale Agreement with Jefferies, under which we may offer and sell our shares of common stock from time to time through Jefferies
acting as agent. Pursuant to this prospectus, we may offer and sell up to $200,000,000 of our shares of common stock. Sales of our shares of common stock, if any, under this prospect