Erasca Inc. (NASDAQ:ERAS) shares on Wednesday jumped close to 60% to $6.12. On Thursday, the stock fell as low as $4.33.
• Erasca shares are advancing steadily. Why is ERAS stock trading higher?
The movement came in reaction to a rumored deal, wherein AbbVie Inc. (NYSE:ABBV) was reportedly in advanced talks to buy cancer-drug biotech Revolution Medicines, Inc. (NASDAQ:RVMD).
The Wall Street Journal report on Wednesday noted Revolution had drawn interest from other bidders, citing people familiar with the matter.
Soon after the report, the company told Reuters, “is not in discussions with Revolution Medicines.”
As per data from Benzinga Pro, Revolution Medicines has a massive market cap of around $19 billion, while Erasca has a market cap of around $1.5 billion.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers.
The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins.
In September 2025, Revolution Medicines shared updates from its Daraxonrasib Phase 1 trials, including in patients with RAS mutant pancreatic cancer.
Erasca, a clinical-stage precision oncology company, is also focused on discovering, developing and commercializing therapies for RAS/MAPK pathway-driven cancers.
Erasca is conducting two Phase 1 trials with lead drug ERAS-0015 in patients with RAS-mutant solid tumors. Initial data is expected in 2026.
The Wall Street Journal report added that Revolution Medicines would bolster AbbVie’s efforts to build its presence in the more than $250 billion worldwide market for cancer drugs.
Price Action: Erasca (ERAS) stock is trading 0.87% higher at $5.23, while Revolution Medicines (RVMD) stock is trading 5.65% lower at $96.91 at publication on Thursday.
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