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ORIC Pharmaceuticals, Inc. develops clinical-stage oncology therapies designed to counter mechanisms of therapeutic resistance in cancer. News about ORIC commonly covers rinzimetostat (ORIC-944), a selective allosteric PRC2/EED inhibitor studied in prostate cancer and metastatic castration-resistant prostate cancer, and enozertinib (ORIC-114), a brain-penetrant selective inhibitor targeting EGFR exon 20 insertion mutations and EGFR atypical mutations.
Recurring updates include clinical and preclinical data presentations, development-dose decisions, oncology conference presentations, quarterly financial results, cash runway disclosures, at-the-market equity financing, and Nasdaq Rule 5635(c)(4) inducement equity grants.
ORIC Pharmaceuticals announced the completion of its underwritten public offering of 5,796,000 shares, raising approximately $133.3 million. This includes the full exercise of the underwriters’ option to purchase an additional 756,000 shares, priced at $23.00 each. The offering was managed by J.P. Morgan, Citigroup, Jefferies, and Guggenheim. Funds will support ORIC's pipeline, including its lead candidate ORIC-101, aimed at combating cancer therapeutic resistance.
ORIC Pharmaceuticals (Nasdaq: ORIC) has announced a public offering of 5,040,000 shares of common stock, priced at $23.00 per share, aiming to raise approximately $115.9 million. The underwriters have a 30-day option to purchase an additional 756,000 shares. The offering is slated to close on November 17, 2020, pending customary conditions. J.P. Morgan, Citigroup, Jefferies, and Guggenheim are the joint book-running managers for this offering, which is intended to bolster ORIC's pipeline for cancer therapeutics, specifically targeting resistance mechanisms.
ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC) has announced a public offering of 4,000,000 shares of its common stock, with plans to grant underwriters a 30-day option for an additional 600,000 shares. The offering, subject to market conditions, is underwritten by J.P. Morgan, Citigroup, Jefferies, and Guggenheim Securities. A registration statement has been filed with the SEC, but the offering is contingent upon its effectiveness. ORIC focuses on developing treatments for therapeutic resistance in cancer, including lead candidate ORIC-101 currently in Phase 1b trials.
The press release from ORIC Pharmaceuticals, a clinical stage oncology company, highlights CEO Jacob Chacko's participation in two upcoming investor conferences in November 2020. The events include a virtual fireside chat at the Jefferies Virtual London Healthcare Conference on November 18 and meetings at the SVB Leerink Oncology 1x1 Day on November 19. A live webcast of the fireside chat will be accessible on the company’s website, with a replay available for 90 days. ORIC is focused on developing therapies to combat therapeutic resistance in cancer.
ORIC Pharmaceuticals, a clinical-stage oncology firm, reported Q3 2020 financial results, highlighting progress in its oncology pipeline. The company secured licenses for the EGFR/HER2 inhibitor (ORIC-114) and PRC2 inhibitor (ORIC-944), with expectations to file IND applications for multiple programs in 2021. Significant milestones anticipated include interim data readouts for ORIC-101 and initiation of trials for ORIC-114. Financially, cash reserves stand at $186.6 million, expected to sustain operations into H2 2022, though R&D and G&A expenses have risen significantly compared to last year.
ORIC Pharmaceuticals has entered into an exclusive license agreement with Voronoi for the development of ORIC-114, a selective inhibitor targeting EGFR and HER2 exon 20 insertion mutations. ORIC-114 is designed for brain penetrance and aims to address a critical unmet medical need, particularly in patients with brain metastases. ORIC will initiate a global Phase 1/2 trial in the second half of 2021, having paid $5 million in cash and $8 million in stock, along with potential milestone payments totaling up to $608 million. This partnership enhances ORIC's pipeline in precision oncology.
On October 9, 2020, ORIC Pharmaceuticals announced a presentation at the 32nd EORTC-NCI-AACR Symposium, showcasing preclinical data on ORIC-101, a glucocorticoid receptor antagonist. The study demonstrates ORIC-101's ability to combat GR-mediated resistance in prostate cancer cell lines treated with androgen receptor degraders. ORIC-101 is currently in two Phase 1b trials, one with enzalutamide in metastatic prostate cancer and another with nab-paclitaxel in advanced solid tumors. Interim data is expected in 2021.
ORIC Pharmaceuticals (Nasdaq: ORIC) announced participation in key investor conferences in September 2020. CEO Jacob Chacko will join the Citi's 15th Annual BioPharma Virtual Conference on September 9, and present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 15. Additionally, ORIC will host virtual meetings at the 2020 Cantor Virtual Global Healthcare Conference on September 17 and participate in a fireside chat at the Oppenheimer Fall Healthcare Life Sciences & Med Tech Summit on September 22. Webcasts will be available on the company's website.
ORIC Pharmaceuticals reported significant progress in its clinical pipeline, including the anticipated IND filings for PRC2 inhibitor ORIC-944 and CD73 inhibitor ORIC-533 in 2021. Financial results for Q2 2020 showed cash and equivalents at $196.6 million, bolstered by an IPO that raised $138 million. R&D expenses rose to $7.7 million, and G&A expenses increased to $3.4 million, reflecting higher operational costs. The company is focused on advancing its projects, with plans for interim data readouts scheduled for the upcoming year.
ORIC Pharmaceuticals has secured exclusive worldwide rights to develop and commercialize a novel PRC2 inhibitor through a licensing agreement with Mirati Therapeutics. The compound, ORIC-944, is targeted for prostate cancer treatment and is positioned as potentially best-in-class. ORIC plans to file an IND for ORIC-944 in the second half of 2021. In exchange for the license, ORIC issued a one-time non-cash payment of $20 million in ORIC common stock, based on a share price of $34.00, with no future milestone or royalty obligations.