Welcome to our dedicated page for Oric Pharmaceuticals news (Ticker: ORIC), a resource for investors and traders seeking the latest updates and insights on Oric Pharmaceuticals stock.
Oric Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, is dedicated to discovering and developing innovative therapies for the treatment of cancer. Headquartered in South San Francisco, California, Oric Pharmaceuticals was founded in 2014 and has since focused on addressing the challenging problem of cancer resistance to existing treatments.
The company's lead product candidate is ORIC-101, a small molecule antagonist of the glucocorticoid receptor. This receptor has been identified as a key player in the resistance mechanisms against various classes of cancer therapeutics, particularly across solid tumors. By targeting this receptor, ORIC-101 aims to enhance the effectiveness of existing cancer treatments.
Another significant asset in Oric's pipeline is ORIC-533, an orally bioavailable small molecule inhibitor of CD73. CD73 plays a role in resistance to both chemotherapy and immunotherapy, and ORIC-533 is being developed to counteract this resistance, offering a potential new avenue for treating patients who do not respond to current therapies.
In addition to ORIC-101 and ORIC-533, the company is also developing ORIC-944 and ORIC-114, each targeting different mechanisms of cancer resistance. ORIC-944 has shown promise in initial Phase 1b data, and the company has outlined several anticipated milestones for these programs in the near future.
Oric Pharmaceuticals demonstrates a robust commitment to advancing the field of precision oncology. The company leverages its expertise in hormone-dependent cancers, precision oncology, and key tumor dependencies to build a diverse pipeline of therapies. These efforts are supported by strategic partnerships and collaborations aimed at accelerating the development and commercialization of their treatment candidates.
Financially, Oric Pharmaceuticals has provided guidance and updates to keep stakeholders informed about their progress and strategic direction. For the latest news and developments, investors and interested parties are encouraged to stay tuned to the company's announcements.
Contact: Dominic Piscitelli, Chief Financial Officer
ORIC Pharmaceuticals presented data highlighting ORIC-114's potential as a best-in-class EGFR/HER2 inhibitor for treating EGFR exon 20 insertions and other atypical mutations. The brain-penetrant, orally bioavailable treatment demonstrated superior potency across EGFR mutational classes compared to other inhibitors. Key findings showed tumor regressions in all tested EGFR mutant models, with 100% tumor regressions in complex atypical mutant EGFR models. The drug displayed superior kinome selectivity and complete molecular responses in ctDNA from patients. Updated data from Phase 1b expansion cohorts is expected in H1 2025.
Candid Therapeutics, a clinical stage biotechnology company focused on T-cell engagers for autoimmune diseases, has appointed Angie You, Ph.D. and Dan Puckett to its board of directors. Dr. You, currently CEO of Architect Therapeutics, brings extensive experience in scaling organizations and advancing innovative products. She previously led Amunix Pharmaceuticals to a $1.2 billion acquisition by Sanofi. Mr. Puckett, former CFO of Shockwave Medical, played a key role in the company's growth leading to its $13.1 billion acquisition by Johnson & Johnson in 2024.
Ken Song, Chairman, President and CEO of Candid Therapeutics, expressed confidence that these proven leaders will be invaluable resources as the company aims to become a leader in treating autoimmune diseases. Both new board members have expressed enthusiasm for Candid's potential to transform autoimmune disease treatment through T-cell engagers.
ORIC Pharmaceuticals (Nasdaq: ORIC) announced a poster presentation at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics, scheduled for October 23-25, 2024, in Barcelona, Spain. The poster, titled "ORIC-114, a highly selective, brain penetrant EGFR and HER2 inhibitor, demonstrates best-in-class properties against exon 20 insertions and other atypical EGFR mutations," will be presented on October 23, 2024.
ORIC-114 is described as a highly selective, brain penetrant, orally bioavailable, irreversible inhibitor targeting EGFR and HER2 mutations. Preclinical analysis showed ORIC-114's superior properties compared to other inhibitors, including brain penetrance, kinome selectivity, and potent activity against various EGFR mutations. The drug has demonstrated clinical responses in patients with EGFR and HER2 exon 20 insertion mutations, including those with CNS metastases. ORIC-114 is currently being evaluated in a global clinical trial (NCT05315700).
ORIC Pharmaceuticals, a clinical stage oncology company, announced on October 4, 2024, that it granted 92,400 non-qualified stock options and 16,300 restricted stock units to four new non-executive employees who joined in September 2024. These inducement grants, approved on October 1, 2024, are part of ORIC's 2022 Inducement Equity Incentive Plan and are subject to continued employment.
The stock options have an exercise price equal to ORIC's closing stock price on the grant date. 25% of the stock options will vest after one year, with the remaining vesting monthly over three years. The restricted stock units will vest one-third annually over three years. These grants, approved by ORIC's Compensation Committee, comply with Nasdaq Rule 5635(c)(4) as material inducements to employment.
OpenBench and ORIC Pharmaceuticals (NASDAQ: ORIC) have launched a collaborative effort to enhance early drug discovery for an undisclosed oncology target. The partnership aims to leverage OpenBench's AI-enabled success-driven small molecule discovery approach and structure-based machine learning platform to complement ORIC's resistance platform in targeting cancer-specific vulnerabilities.
Under the agreement, OpenBench will receive payment for identifying novel small molecule chemotypes that meet ORIC's specified activity and developability criteria. In return, ORIC gains exclusive rights to the discovered leads and access to OpenBench's proprietary screening technology for the target of interest. While specific financial terms were not disclosed, this collaboration represents a strategic move to combine OpenBench's innovative discovery platform with ORIC's expertise in addressing mechanisms of therapeutic resistance in oncology.
ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced the granting of 173,200 non-qualified stock options and 28,900 restricted stock units to three new non-executive employees who joined in August 2024. These inducement grants, approved on September 3, 2024, are part of the company's 2022 Inducement Equity Incentive Plan. The stock options have an exercise price equal to ORIC's closing stock price on the grant date. 25% of the stock options will vest after one year, with the remaining vesting monthly over three years. The restricted stock units will vest in three equal annual installments. These grants, approved by ORIC's Compensation Committee, comply with Nasdaq Rule 5635(c)(4) and serve as material inducements for employment.
ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced its participation in three upcoming investor conferences in September 2024:
- 2024 Wells Fargo Healthcare Conference on September 5 at 8:00 a.m. ET
- Baird 2024 Global Healthcare Conference on September 10 at 10:50 a.m. ET (for conference attendees only)
- 2024 Cantor Global Healthcare Conference on September 19 at 8:35 a.m. ET
The company will participate in fireside chats at each event. Live webcasts for the Wells Fargo and Cantor conferences will be available on ORIC's website, with replays accessible for 90 days after the events. This engagement demonstrates ORIC's commitment to investor relations and showcasing its progress in developing treatments for therapeutic resistance in oncology.
ORIC Pharmaceuticals reported Q2 2024 financial results and operational updates. Key highlights include:
- Initiated ORIC-944 dosing in combinations with NUBEQA® and ERLEADA® in an ongoing Phase 1b prostate cancer trial
- Entered clinical trial collaboration agreements with Bayer and Johnson & Johnson
- Appointed Keith Lui as SVP of Commercial and Medical Affairs
- Cash and investments of $308.5 million, expected to fund operations into late 2026
- R&D expenses increased to $28.9 million in Q2 2024, up from $18.8 million in Q2 2023
- G&A expenses rose to $7.1 million in Q2 2024, compared to $6.2 million in Q2 2023
The company progressed its pipeline, including ORIC-114 for NSCLC and ORIC-944 for prostate cancer, with data updates expected in 2025.
ORIC Pharmaceuticals (Nasdaq: ORIC) has appointed Keith Lui as Senior Vice President of Commercial and Medical Affairs. This strategic move strengthens ORIC's leadership team as the company advances its oncology pipeline. Mr. Lui brings over 20 years of biopharma experience, specializing in transitioning clinical-stage companies to full commercialization.
Lui's impressive track record includes contributions to the launches of Imbruvica®, Zelboraf®, Pepaxto®, Posimir®, and new indications for Avastin® and Rituxan®. His expertise spans strategic planning, commercial launches, and medical affairs. ORIC's CEO, Dr. Jacob M. Chacko, emphasized Lui's value as the company prepares for potential registrational studies in 2025 and future commercialization efforts.
ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced the granting of inducement awards to two new non-executive employees who joined in July 2024. The grants, approved on August 1, 2024, include 33,000 non-qualified stock options and 5,600 restricted stock units. These awards are part of the company's 2022 Inducement Equity Incentive Plan and are subject to continued employment.
The stock options have an exercise price equal to ORIC's closing stock price on the grant date. 25% of the options will vest after one year, with the remaining vesting monthly over the next three years. The restricted stock units will vest in three equal annual installments. These inducement grants were approved by ORIC's Compensation Committee and comply with Nasdaq Rule 5635(c)(4).
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