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Filing Details

Accession Number:: 0001567619-21-013838
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-07-22 16:10:28
Reporting Period:: 2021-07-20

Accepted Time:: 2021-07-22 16:10:28
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1761918	Erasca Inc.	ERAS	()	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1583977	Cormorant Asset Management, Lp	200 Clarendon Street, 52Nd Floor Boston MA 02116	No	No	Yes	No
1599214	Bihua Chen	200 Clarendon Street, 52Nd Floor Boston MA 02116	Yes	No	No	No
1618442	Cormorant Global Healthcare Master Fund, Lp	200 Clarendon Street, 52Nd Floor Boston MA 02116	No	No	Yes	No
1747677	Cormorant Private Healthcare Fund Ii, Lp	200 Clarendon Street, 52Nd Floor Boston MA 02116	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2021-07-20	9,555,553	$0.00	9,555,553	No	4	C	Indirect	See Footnotes
Common Stock	Acquisiton	2021-07-20	950,000	$16.00	10,505,553	No	4	P	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	See Footnotes
No	4	P	Indirect	See Footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Convertible Preferred Stock	Acquisiton	2021-07-20	4,000,000	$0.00	4,000,000	$0.00
Common Stock	Series B-1 Convertible Preferred Stock	Acquisiton	2021-07-20	4,166,666	$0.00	4,166,666	$0.00
Common Stock	Series B-2 Convertible Preferred Stock	Acquisiton	2021-07-20	1,388,887	$0.00	1,388,887	$0.00

Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (right to buy)	$5.81		2031-04-11	166,666	166,666	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2031-04-11	166,666	166,666	Direct

Footnotes

Shares of Series A, Series B-1, and Series B-2 Convertible Preferred Stock were convertible at any time at the holder's election, without payment of additional consideration. Such shares had no expiration date but converted into Common Stock automatically upon the closing of the Issuer's initial public offering.
Shares reported herein are held by Cormorant Global Healthcare Master Fund, LP (the "Master Fund"), Cormorant Private Healthcare Fund II, LP ("Fund II"), and a managed account (the "Account"). Cormorant Asset Management, LP ("Cormorant") serves as the investment manager of the Master Fund, Fund II, and the Account. Bihua Chen serves as manager of the general partner of Cormorant. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.
Represents (i) 1,728,710 shares of Common Stock held by the Master Fund, (ii) 7,716,443 shares of Common Stock held by Fund II, and (iii) 110,400 shares of Common Stock held by the Account.
Shares reported herein as purchased on July 20, 2021 represent 950,000 shares purchased by the Master Fund.
The Series A Convertible Preferred Stock represented, on an as-converted basis, (i) 677,600 shares of Common Stock held by the Master Fund, (ii) 3,212,000 shares of Common Stock held by Fund II, and (iii) 110,400 shares of Common Stock held by the Account.
The Series B-1 Convertible Preferred Stock represented, on an as-converted basis, (i)788,333 shares of Common Stock held by the Master Fund, and (ii) 3,378,333 shares of Common Stock held by Fund II.
The Series B-2 Convertible Preferred Stock represented, on an as-converted basis, (i) 262,777 shares of Common Stock held by the Master Fund, and (ii) 1,126,110 shares of Common Stock held by Fund II.
Stock option grant for 166,666 shares, 41,667 shares of which become exercisable on 3/16/2022 and 124,999 shares of which become exercisable thereafter in equal monthly installments through 3/16/2025.
Stock options granted to Bihua Chen, in her capacity as a director of the Issuer.