Erasca Investor Lawsuit
Erasca Faces Investor Lawsuit Alleging Patent Infringement and Trade Secret Misappropriation
Erasca, Inc. (ERAS) shareholders lost more than $2.8 billion in a single trading session on April 28, 2026, after the clinical-stage biotech revealed a patient death in its lead drug trial and disclosed a patent war with rival Revolution Medicines GlobeNewswire. Shares collapsed 48.3% in one day, falling from roughly $19 to just $9.90 Robbins Geller Rudman & Dowd LLP.
Now, the law firm Robbins Geller Rudman & Dowd LLP has filed a securities fraud class action lawsuit — Cheng v. Erasca, Inc. (No. 3:26-cv-03481) — in the Southern District of California. Investors who lost money between January 14, 2025 and April 26, 2026 have until August 10, 2026 to apply to lead the case GlobeNewswire.
A Two-Day Meltdown That Wiped Out Billions
The collapse unfolded over just 48 hours. On April 27, 2026, Erasca filed a Form 8-K disclosing that competitor Revolution Medicines had sent a formal demand letter on April 24, alleging patent infringement and trade secret theft. Shares dropped 10.9% that day, closing at $19.15 Benzinga.
Then, after the market closed on April 27, Erasca released early Phase 1 trial data for its lead drug, ERAS-0015. On a conference call, the company revealed a patient had died — a 66-year-old man with pancreatic cancer — and admitted that earlier comparisons to rival drugs were not based on head-to-head trials GlobeNewswire. The next morning, the stock fell another 48.3%, closing at $9.90.
The Patent Fight: Revolution Medicines Accuses Erasca of Theft
Revolution Medicines claims that ERAS-0015 — a
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