Cancer biotech Erasca falls after announcing $500 mln stock offering

** 9 of 11 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $20, per LSEG data

** Shares of oncology co Erasca ERAS.O fall 1.9% to $17.56 in extended trading as it seeks equity

** ERAS announces $500 mln stock offering

** Co intends to use net offering proceeds to fund R&D of its product candidates, other development programs and for working capital, among other general purposes

** JP Morgan, Morgan Stanley, Jefferies and Evercore joint bookrunners

** San Diego, California-based ERAS also announces updated Phase 1 data for ERAS-0015 in patients with solid tumors caused by mutations in the RAS gene

** In late Apr, ERAS shares tumbled 48% after co said a patient died in an early-stage trial of ERAS-0015

** Shares closed down 3.4% at $17.90 on Mon, but are up 381% YTD