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Public Equity Report: Erasca reboots, Telix plans NASDAQ listing

ARTICLE | Finance

Plus: OnKure goes public via reverse merger, Monte Rosa and Allogene each raise $100M+, and Incyte’s $2B buyback

By Paul Bonanos, Director of Biopharma Intelligence

May 17, 2024 7:05 PM UTC

Less than two months after tapping investors for a PIPE, Erasca Inc. (NASDAQ:E RAS) has raised $160 million in a public offering announced concurrently with a pair of licensing deals for RAS programs, resetting the company’s priorities.

Late Thursday, the biotech sold 86.5 million shares at $1.85, at parity with its closing price. Following Erasca’s $45 million PIPE from undisclosed investors in March, the company now believes it has cash runway into 2027…