Estados financieros detallados de Erasca, Inc. (ERAS): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $15.36, ERAS presenta beneficios negativos (P/E no significativo) y un ROE del -80.43%. La capitalización bursátil es de $5.3B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | 0 | $829000 | $2.6M | $3.7M | 0 | $3.1M |
| Beneficio Bruto | 0 | 0 | -$829000 | -$2.6M | -$3.7M | 0 | -$3.1M |
| I+D | $9.6M | $101.3M | $73.9M | $112.5M | $103.8M | $115.4M | $92.9M |
| Generales y Administrativos | $3.7M | $8.0M | $22.6M | $33.0M | $37.7M | $41.7M | $38.6M |
| Gastos Operativos | $13.3M | $109.3M | $124.1M | $244.8M | $137.8M | $179.6M | $128.3M |
| Beneficio Operativo | -$13.3M | -$109.3M | -$124.9M | -$247.4M | -$141.5M | -$179.6M | -$131.4M |
| EBITDA | -$13.0M | -$37.0M | -$121.9M | -$240.2M | -$121.3M | -$153.3M | -$121.4M |
| Gastos por Intereses | 0 | 0 | 0 | $201.4M | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$12.0M | -$101.7M | -$122.8M | -$242.8M | -$125.0M | -$161.7M | -$124.5M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$12.0M | -$101.7M | -$122.8M | -$242.8M | -$125.0M | -$161.7M | -$124.5M |
| BPA | $-0.10 | $-0.85 | $-1.03 | $-1.99 | $-0.83 | $-0.69 | $-0.44 |
| BPA Diluido | $-0.10 | $-0.85 | $-1.03 | $-1.99 | $-0.83 | $-0.69 | $-0.44 |
| Acciones en Circulación (Diluidas) | $119.0M | $119.0M | $119.1M | $122.0M | $150.2M | $233.8M | $283.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | -$743000 | -$723000 | 0 |
| Beneficio Operativo | -$34.5M | -$32.6M | -$37.9M | -$47.6M |
| EBITDA | -$29.9M | -$28.3M | -$182.7M | -$43.4M |
| Beneficio Neto | -$30.6M | -$29.1M | -$183.4M | -$44.1M |
| BPA | $-0.11 | $-0.10 | $-0.60 | $-0.14 |
| BPA Diluido | $-0.11 | $-0.10 | $-0.60 | $-0.14 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $29.6M | $65.4M | $360.5M | $284.2M | $93.1M | $67.7M | $73.8M |
| Inversiones a Corto | $20.8M | $53.3M | $54.0M | $151.4M | $219.3M | $230.6M | $202.3M |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | $2.3M | $2.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $51.1M | $120.0M | $420.0M | $444.5M | $320.7M | $308.8M | $286.2M |
| Inmovilizado Material | $4.3M | $4.1M | $33.3M | $65.2M | $60.2M | $48.5M | $42.3M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $55.5M | $124.8M | $501.4M | $514.9M | $395.3M | $502.5M | $396.2M |
| Cuentas por Pagar | $1.4M | $878000 | $4.7M | $23.0M | $2.0M | $468000 | $981000 |
| Deuda a Corto | 0 | $877000 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $2.8M | $13.7M | $26.2M | $48.7M | $26.2M | $31.4M | $28.5M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $69.1M | $17.4M | $44.9M | $103.1M | $78.6M | $79.0M | $71.0M |
| Reservas | -$13.7M | -$115.4M | -$238.2M | -$481.0M | -$606.0M | -$767.7M | -$892.2M |
| Patrimonio Neto | -$13.6M | $107.4M | $456.5M | $411.9M | $316.7M | $423.5M | $325.2M |
| Deuda Total | $3.7M | $3.0M | $18.8M | $55.1M | $55.9M | $51.9M | $47.1M |
| Deuda Neta | -$46.7M | -$115.7M | -$395.7M | -$380.5M | -$256.5M | -$246.4M | -$228.9M |
| Capital Circulante | $48.4M | $106.3M | $393.8M | $395.8M | $294.5M | $277.4M | $257.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $70.2M | $73.8M | $47.3M | $42.5M |
| Activos Totales | $420.4M | $396.2M | $461.2M | $435.1M |
| Pasivos Totales | $72.5M | $71.0M | $67.7M | $73.2M |
| Patrimonio Neto | $347.9M | $325.2M | $393.5M | $361.9M |
| Deuda Total | $48.3M | $47.1M | $46.0M | $44.7M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$12.0M | -$101.7M | -$122.8M | -$242.8M | -$125.0M | -$161.7M | -$124.5M |
| Amortizaciones | $310000 | $540000 | $829000 | $2.6M | $3.7M | $3.8M | $3.1M |
| Compensación en Acciones | $122000 | $797000 | $8.3M | $20.1M | $26.2M | $27.0M | $24.9M |
| Cambio en Capital Circulante | $1.7M | $3.3M | $7.7M | $15.8M | $813000 | $1.7M | -$3.3M |
| Flujo de Caja Operativo | -$10.4M | -$32.7M | -$79.6M | -$103.3M | -$101.2M | -$109.4M | -$95.5M |
| Inversiones (CapEx) | -$597000 | -$38.7M | -$18.9M | -$16.6M | -$1.8M | -$22.6M | -$128000 |
| Adquisiciones | 0 | 0 | $7.7M | $4.0M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$11.0M | -$71.4M | -$98.5M | -$119.8M | -$103.0M | -$132.0M | -$95.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$21.7M | -$21.7M | -$27.4M | -$27.3M |
| Inversiones (CapEx) | -$6000 | -$9000 | -$36000 | -$8000 |
| Flujo de Caja Libre | -$21.7M | -$21.7M | -$27.4M | -$27.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $6.0M | $5.8M | $8.5M | $9.6M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | -744.4% | -20.8% | -97.8% | +48.5% | -29.3% | +23.0% |
| Crecimiento BPA (anual) | | -750.0% | -21.2% | -93.2% | +58.3% | +16.9% | +36.2% |
| Cambio en Acciones (anual) | | +0.0% | +0.1% | +2.5% | +23.1% | +55.7% | +21.3% |
| Crecimiento FCF (anual) | | -550.4% | -38.0% | -21.7% | +14.0% | -28.1% | +27.6% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.09 | $-0.60 | $-0.83 | $-0.98 | $-0.69 | $-0.56 | $-0.34 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $119.0M | $119.0M | $119.1M | $122.0M | $150.2M | $233.8M | $283.5M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -80.43% |
| Rentabilidad sobre capital invertido | -37.52% |
| Rentabilidad sobre activos | -66.02% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.12 |
| Ratio corriente | 8.29 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 5.45 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -174.30 | -20.51 | -15.13 | -2.17 | -2.57 | -3.64 | -8.45 |
| P/VC | -152.41 | 19.30 | 4.06 | 1.28 | 1.01 | 1.39 | 3.24 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |