Erasca, Inc. (ERAS) Faces Securities Class Action Amid Patient Death, Intellectual Property Questions, $2.8 Billion Market Cap Loss – Hagens Berman

Erasca, Inc. (NASDAQ: ERAS) stock plummeted 48% ($9.25) on April 27, 2026, after the company disclosed that competitor Revolution Medicines challenged its intellectual property claims for lead drug ERAS-0015 and that a patient died one month after treatment. The disclosures wiped out $2.8 billion in market capitalization. A securities class action lawsuit has been filed alleging Erasca misled investors about the drug's safety profile and competitive advantages.