ORIC® Pharmaceuticals Announces $125 Million Private Placement Financing
ORIC Pharmaceuticals (NASDAQ: ORIC) has secured a $125 million private placement financing through the sale of approximately 19.2 million shares at $6.50 per share, representing an 18% premium to its 10-day trailing VWAP. The financing, led by SR One with participation from notable investors including Point72, Viking Global Investors, and others, is expected to close on May 29, 2025.
The company will issue common stock and pre-funded warrants with an exercise price of $0.0001 per share. The proceeds, combined with existing cash reserves, are expected to fund operations into the second half of 2027, including through the anticipated primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in prostate cancer.
ORIC Pharmaceuticals (NASDAQ: ORIC) ha ottenuto un finanziamento privato da 125 milioni di dollari tramite la vendita di circa 19,2 milioni di azioni a 6,50 dollari per azione, rappresentando un premio del 18% rispetto al VWAP degli ultimi 10 giorni. Il finanziamento, guidato da SR One con la partecipazione di investitori di rilievo come Point72, Viking Global Investors e altri, è previsto in chiusura il 29 maggio 2025.
L'azienda emetterà azioni ordinarie e warrant pre-finanziati con un prezzo di esercizio di 0,0001 dollari per azione. I proventi, uniti alle riserve di cassa esistenti, dovrebbero finanziare le operazioni fino alla seconda metà del 2027, incluso il previsto risultato primario dello studio di registrazione di Fase 3 ORIC-944 nel cancro alla prostata.
ORIC Pharmaceuticals (NASDAQ: ORIC) ha asegurado un financiamiento privado de 125 millones de dólares mediante la venta de aproximadamente 19,2 millones de acciones a 6,50 dólares por acción, lo que representa una prima del 18 % respecto al VWAP de los últimos 10 días. El financiamiento, liderado por SR One con la participación de inversores destacados como Point72, Viking Global Investors y otros, se espera que cierre el 29 de mayo de 2025.
La compañía emitirá acciones ordinarias y warrants prefinanciados con un precio de ejercicio de 0,0001 dólares por acción. Los ingresos, combinados con las reservas de efectivo existentes, se espera que financien las operaciones hasta la segunda mitad de 2027, incluyendo la esperada lectura del punto final primario del primer ensayo registracional de fase 3 ORIC-944 en cáncer de próstata.
ORIC Pharmaceuticals (NASDAQ: ORIC)는 약 1,920만 주를 주당 6.50달러에 판매하여 1억 2,500만 달러 규모의 사모펀딩을 확보했으며, 이는 최근 10일간 VWAP 대비 18% 프리미엄을 의미합니다. 이번 자금 조달은 SR One이 주도하고 Point72, Viking Global Investors 등 주요 투자자들이 참여했으며, 2025년 5월 29일 마감될 예정입니다.
회사는 보통주와 주당 행사가격 0.0001달러인 선행 인수권을 발행할 예정입니다. 기존 현금 보유액과 합쳐진 자금은 2027년 하반기까지 운영 자금을 지원할 것으로 예상되며, 여기에는 전립선암을 대상으로 한 첫 번째 ORIC-944 3상 등록 시험의 주요 평가 지표 결과도 포함됩니다.
ORIC Pharmaceuticals (NASDAQ : ORIC) a obtenu un financement privé de 125 millions de dollars grâce à la vente d'environ 19,2 millions d'actions à 6,50 dollars par action, soit une prime de 18 % par rapport au VWAP des 10 derniers jours. Ce financement, mené par SR One avec la participation d'investisseurs notables tels que Point72, Viking Global Investors et d'autres, devrait se clôturer le 29 mai 2025.
La société émettra des actions ordinaires et des bons de souscription préfinancés avec un prix d'exercice de 0,0001 dollar par action. Les fonds récoltés, combinés aux réserves de trésorerie existantes, devraient financer les opérations jusqu'à la seconde moitié de 2027, y compris la lecture anticipée du critère principal du premier essai de phase 3 d'enregistrement ORIC-944 dans le cancer de la prostate.
ORIC Pharmaceuticals (NASDAQ: ORIC) hat eine Privatplatzierungsfinanzierung in Höhe von 125 Millionen US-Dollar durch den Verkauf von etwa 19,2 Millionen Aktien zu je 6,50 US-Dollar gesichert, was einem Aufschlag von 18 % gegenüber dem 10-Tage-Durchschnittspreis (VWAP) entspricht. Die Finanzierung wird von SR One angeführt, mit Beteiligung namhafter Investoren wie Point72, Viking Global Investors und weiteren, und soll am 29. Mai 2025 abgeschlossen werden.
Das Unternehmen wird Stammaktien und vorfinanzierte Optionsscheine mit einem Ausübungspreis von 0,0001 US-Dollar pro Aktie ausgeben. Die Erlöse, zusammen mit den bestehenden Barmitteln, sollen den Betrieb bis in die zweite Hälfte des Jahres 2027 finanzieren, einschließlich der erwarteten primären Endpunkt-Auswertung der ersten ORIC-944 Phase-3-Studie zur Behandlung von Prostatakrebs.
- Secured substantial $125 million financing at an 18% premium to 10-day VWAP
- Extended cash runway into second half of 2027
- Strong investor participation from prominent healthcare/biotech funds
- Funding secured through anticipated Phase 3 trial primary endpoint readout
- Significant dilution through issuance of 19.2 million new shares
- Private placement structure restricts immediate trading of new shares
Insights
ORIC secured $125M premium-priced financing from elite healthcare investors, extending cash runway through 2027 and key Phase 3 trial readout.
ORIC Pharmaceuticals has executed a $125 million private placement at $6.50 per share, representing an impressive 18% premium to their 10-day volume-weighted average price. This premium pricing signals strong investor confidence in ORIC's clinical programs, particularly unusual in biotech financings which typically come at a discount.
The quality of investors participating is noteworthy - SR One leading with support from sophisticated healthcare specialists including Point72, Viking Global, and NEA. These aren't casual biotech investors but sophisticated firms with rigorous due diligence processes, suggesting their deep conviction in ORIC's prospects.
The extended cash runway is perhaps the most significant aspect of this deal. ORIC now has funding through the second half of 2027, crucially covering the primary endpoint readout from their first Phase 3 registrational trial of ORIC-944 in prostate cancer. This removes financing risk during a critical clinical development period, allowing management to focus on execution rather than fundraising.
For a clinical-stage oncology company with no approved products generating revenue, this financing dramatically strengthens ORIC's position. The company will issue approximately 19.2 million shares (or pre-funded warrants), which while representing dilution, comes at favorable terms given the premium pricing. The deal structure using some pre-funded warrants (essentially delayed shares with a $0.0001 exercise price) is a standard approach that offers flexibility to certain investors facing ownership limitations.
This financing positions ORIC with significantly enhanced financial stability through a critical value-creating clinical milestone that could potentially transform the company's prospects.
Financing led by SR One and includes participation from new and existing investors, including Point72, Viking Global Investors, Venrock Healthcare Capital Partners, New Enterprise Associates (NEA), Nextech, Vivo Capital, and NEXTBio Capital
Pro forma cash and investments expected to fund current operating plan into the second half of 2027 and through anticipated primary endpoint readout from first ORIC-944 Phase 3 registrational trial in prostate cancer
SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, May 28, 2025 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced that it has agreed to sell approximately 19.2 million shares of its common stock (or pre-funded warrants in lieu thereof) to a select group of institutional and accredited healthcare specialist investors in a private placement, at a price per share of
The financing includes participation from new and existing institutional investors and is being led by SR One, with participation from Point72, Viking Global Investors, Venrock Healthcare Capital Partners, NEA, Nextech, Vivo Capital, and NEXTBio Capital.
ORIC intends to use the net proceeds from the proposed financing to fund research and development of its clinical-stage product candidates and research programs and for working capital and general corporate purposes. The proceeds from this financing, combined with current cash, cash equivalents and marketable securities, is expected to be sufficient to fund the current operating plan into the second half of 2027 and through the anticipated primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in prostate cancer.
The securities described above have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. ORIC has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock and the shares of common stock issuable upon exercise of the pre-funded warrants issued in this private placement. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About ORIC Pharmaceuticals, Inc.
ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients’ lives by Overcoming Resistance In Cancer. ORIC’s clinical stage product candidates include (1) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (2) ORIC-114, a brain penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20 and EGFR atypical mutations, being developed across multiple genetically defined cancers. Beyond these two product candidates, ORIC® is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com, and follow us on X or LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, the timing and expectation of the closing of the private placement; the satisfaction of customary closing conditions related to the private placement and the anticipated use of proceeds therefrom; the anticipated timing of the primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in prostate cancer; and the period over which ORIC estimates the proceeds from the private placement, combined with its existing cash, cash equivalents and marketable securities, will be sufficient to fund its current operating plan. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC’s ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC’s plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-944, ORIC-114 or any other product candidates to differ from preclinical, initial, interim, preliminary or expected results; negative impacts of health emergencies, economic instability or international conflicts on ORIC’s operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC’s license and collaboration agreements; regulatory developments in the United States and foreign countries; ORIC’s reliance on third parties, including contract manufacturers and contract research organizations; ORIC’s ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in ORIC’s Quarterly Report on Form 10-Q filed with the SEC on May 5, 2025, and ORIC’s future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
Contact:
Dominic Piscitelli, Chief Financial Officer
dominic.piscitelli@oricpharma.com
info@oricpharma.com
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