Company: ERAS
Filing Date: 2025-08-12
Form Type: S-3
Source: 0001193125-25-179038
Chunk: 40

Company: Erasca, Inc.
Filing Date: 2025-08-12
Form: S-3
Chunk 40
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 shares of
our common stock having an aggregate offering price of up to $200,000,000 from time to time through Jefferies acting as our agent.

Our common stock is
listed on the Nasdaq Global Select Market under the symbol “ERAS”. On August 8, 2025, the last reported sale price of our common stock on the Nasdaq Global Select Market was $1.40 per share.

Sales of our common stock, if any, under this prospectus will be made in sales deemed to be an “at the market offering” as defined in Rule
415(a)(4) promulgated under the Securities Act of 1933, as amended (the Securities Act). Jefferies is not required to sell any specific amount of securities, but will act as our sales agent using commercially reasonable efforts consistent with its
normal trading and sales practices, on mutually agreed terms between Jefferies and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

The compensation to Jefferies for sales of common stock sold pursuant to the Sale Agreement will be up to 3.0% of the gross proceeds of any shares of common
stock sold under the Sale Agreement. In connection with the sale of the common stock on our behalf, Jefferies will be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of Jefferies will be deemed
to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Jefferies with respect to certain liabilities, including liabilities under the Securities Act or the Securities Exchange Act of 1934, as
amended (the Exchange Act). See “Plan of Distribution” beginning on page S-11 for additional information regarding the compensation to be paid to Jefferies.

Investing in our common stock involves a high degree of risk. Before making an investment decision, please read the information under the heading “ Risk Factors” beginning on page S-6of this prospectus and in the documents incorporated by reference into this prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

Jefferies

The date of this prospectus is , 2025.

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