Company: ERAS
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042682
Chunk: 305

Company: Erasca, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 6
Chunk 305
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 $0.4 million for certain initial manufacturing costs. In addition, the Company paid $7.0 million in 2020 related to the publication of a US patent application that covered the composition of matter of ERAS-601. The Company is also obligated to pay (i) development and regulatory milestone payments in an aggregate amount of up to $16.0 million for the first licensed product, of which $4.0 million was paid in January 2021, and $12.0 million for a second licensed product, and (ii) commercial milestone payments in an aggregate amount of up to $157.0 million for the first licensed product and $151.0 million for a second licensed product. The Company is also obligated to: (i) pay tiered royalties on net sales of all licensed products in the mid-single digit percentages, subject to certain reductions; and (ii) equally split all net sublicensing revenues earned under sublicense agreements that the Company enters into with any third party before commencement of the first Phase I clinical trial for a licensed product. During the years ended December 31, 2024 and 2023, no IPR&D expense was recorded in connection with the NiKang Agreement. As of December 31, 2024 and 2023, no milestones are accrued for any license agreements as the underlying contingencies are not probable or estimable.

Note 9. Stockholders’ equity Common stock Holders of the Company's common stock are entitled to one vote for each share held on the applicable record date with respect to all matters submitted to a vote of stockholders, including the election of directors, and do not have cumulative voting rights. Common stockholders are entitled to receive dividends, as may be declared by the Company’s board of directors. As of December 31, 2024, no dividends had been declared.Common stock reserved for future issuance Common stock reserved for future issuance consisted of the following as of December 31, 2024 and 2023: 

        December 31,

        December 31,

        2024

        2023

        Stock options issued and outstanding

        33,910,721

        24,970,957

        Awards available for future grant

        13,265,858

        15,342,797

        Shares available for purchase under the ESPP

        1,569,952

        2,080,681

        Total

        48,746,