Clinical Trial Success and Failure Risks: Erasca's drug candidates are in early-stage clinical development, meaning there's a high risk that they may not demonstrate sufficient safety or efficacy in clinical trials, leading to developmental halts or failures.

Regulatory Approval Uncertainty: Even if clinical trials are successful, there is no guarantee that Erasca will obtain necessary regulatory approvals from agencies like the FDA for its product candidates, which is a lengthy and uncertain process.

Significant Capital Requirements and Funding Dilution: Erasca has no commercialized products and relies on external funding. There is a risk of needing substantial additional capital, which may not be available on favorable terms or could lead to significant shareholder dilution.