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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 (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).
ORIC Pharmaceuticals (Nasdaq: ORIC) has announced multiple clinical collaborations to support its ongoing trial of ORIC-944, a potential best-in-class PRC2 inhibitor, in combination with AR inhibitors for prostate cancer treatment. The company has initiated dosing of ORIC-944 in combination with darolutamide and apalutamide in a Phase 1b trial for metastatic prostate cancer patients.
ORIC has entered into clinical trial collaboration and supply agreements with Bayer and Johnson & Johnson's Janssen Research & Development. These partnerships will provide darolutamide (NUBEQA®) and apalutamide (ERLEADA®) for the study, while ORIC maintains full global development and commercial rights to ORIC-944.
The combination approach is based on promising preclinical findings and emerging clinical data, demonstrating synergy in multiple prostate cancer models with a unique mechanism of reprogramming prostate cancer to revert to an AR-dependent state.
ORIC Pharmaceuticals, a clinical-stage oncology company, has announced inducement grants under Nasdaq Listing Rule 5635(c)(4) to three new non-executive employees. The grants, made on July 1, 2024, include 34,000 non-qualified stock options and 5,600 restricted stock units, issued under the 2022 Inducement Equity Incentive Plan. The stock options have an exercise price equivalent to ORIC's common stock closing price on the grant date and will vest over a period of four years, with specific terms for both stock options and restricted units. These grants were approved by ORIC's Compensation Committee as a material inducement for employment, in line with Nasdaq regulations.