Erasca faces a securities class action after its stock dropped $9.25, or 48%, following disclosures that Revolution Medicines accused Erasca of patent infringement concerning its pan-RAS molecular glue ERAS-0015 and that a patient died one month after receiving the treatment. The lawsuit, filed by Hagens Berman, seeks to represent investors who purchased Erasca common stock between January 14, 2025 and April 26, 2026. The complaint alleges Erasca misled investors by improperly comparing ERAS-0015 to Revolution Medicines' RMC-6236 and by touting intellectual property protection that exposed the company to disputes. On April 27, 2026, Erasca disclosed the patent challenge and the patient death, wiping out over $2.8 billion in market capitalization the next day. The lead plaintiff deadline is August 10, 2026.
Erasca IncPatent infringement lawsuit and patient death raise legal and safety risks, causing 48% stock drop.
Revolution Medicines IncRevolution Medicines accused Erasca of patent infringement, strengthening its competitive position.