ORIC (NASDAQ: ORIC) details Q1 2026 loss and Phase 3 cancer plans
Rhea-AI Filing Summary
ORIC Pharmaceuticals reported a first quarter 2026 net loss of $35.8 million, or $0.34 per share, as it advanced two oncology programs. The company selected a 400 mg once-daily dose of rinzimetostat with darolutamide for the Himalayas-1 Phase 3 registrational trial in post-abiraterone mCRPC, expected to start in 1H 2026, supported by favorable safety and landmark rPFS data.
ORIC also reported early rinzimetostat data in post-AR inhibitor mCRPC and continued Phase 1b development of enozertinib across multiple NSCLC settings, with several data updates anticipated in 2H 2026. Cash, cash equivalents and investments were $419.7 million as of March 31, 2026, including $59.9 million raised via an ATM program, which ORIC expects will fund operations into 2H 2028.
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Insights
ORIC pairs advancing oncology pipeline with extended cash runway despite ongoing losses.
ORIC is transitioning rinzimetostat into a Phase 3 registrational trial in post-abiraterone mCRPC, backed by early data suggesting a favorable safety profile and landmark rPFS versus standard therapies. Enozertinib continues in Phase 1b across several EGFR-mutant NSCLC populations with multiple data readouts planned in 2H 2026.
Financially, ORIC reported a Q1 2026 net loss of $35.8 million, with operating expenses driven mainly by $31.4 million in R&D. An at-the-market program added $59.9 million, bringing cash and investments to $419.7 million and extending runway into 2H 2028, which helps support late-stage development plans.
The combination of a first planned Phase 3 trial and a strengthened balance sheet is important for a clinical-stage oncology company, though actual outcomes will depend on future rinzimetostat and enozertinib data and the execution of the Himalayas-1 trial and upcoming NSCLC studies.
8-K Event Classification
Key Figures
Key Terms
mCRPC medical
rPFS medical
PRC2 medical
EGFR exon 20 insertion mutations medical
at-the-market (ATM) program financial
Phase 3 registrational trial medical
Earnings Snapshot
ORIC expects its cash, cash equivalents and investments to fund its operating plan into the second half of 2028.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
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Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 4, 2026, ORIC Pharmaceuticals, Inc. (the “Company”), issued a press release announcing its financial results for the fiscal quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
All of the information furnished in this Item 2.02 and Item 9.01 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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99.1 |
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Press Release dated May 4, 2026 |
104 |
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Cover Page Interactive Data File (embedded with the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ORIC PHARMACEUTICALS, INC. |
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Date: May 4, 2026 |
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By: |
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/s/ Dominic Piscitelli |
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Dominic Piscitelli Chief Financial Officer |
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Exhibit 99.1 |
ORIC® Pharmaceuticals Reports First Quarter 2026 Financial Results and Operational Updates
Announced selection of rinzimetostat RP3D in combination with darolutamide for Himalayas-1 Phase 3 global registrational trial in post-abiraterone mCRPC, expected to initiate in 1H 2026
Reported rinzimetostat data in post-abiraterone mCRPC supporting potential best-in-disease profile, including a highly differentiated safety profile and landmark rPFS consistent with competitor PRC2 inhibitor and substantially better than standard of care therapies in mCRPC
Reported early rinzimetostat data in post-AR inhibitor mCRPC, demonstrating promising durability and reinforcing rinzimetostat’s potential to restore and sustain the benefit derived from AR inhibitors
Anticipate rinzimetostat program update in 2H 2026 and several enozertinib clinical updates in 2H 2026 ahead of potential initiation of a registrational trial
Cash and investments of approximately $420 million expected to provide runway into 2H 2028 and beyond anticipated primary endpoint readout from first Phase 3 trial for rinzimetostat
SOUTH SAN FRANCISCO and SAN DIEGO, CA – May 4, 2026 – ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today reported financial results and provided operational updates for the quarter ended March 31, 2026.
“The first quarter marked a pivotal step for ORIC as we selected our Phase 3 dose for rinzimetostat, reported data supporting a potential best-in-disease profile, and moved toward the initiation of Himalayas-1, our first registrational trial,” said Jacob M. Chacko, M.D., president and chief executive officer. “With a strong cash position and multiple enozertinib clinical updates expected later this year, we see a clear path to building ORIC into a multi-asset, late-stage oncology company.”
First Quarter 2026 and Other Recent Highlights
Rinzimetostat: a potent and selective allosteric inhibitor of PRC2
Enozertinib: a brain-penetrant, selective inhibitor targeting EGFR exon 20 insertion mutations and EGFR atypical mutations
Anticipated Program Milestones:
ORIC anticipates the following upcoming milestones:
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First Quarter 2026 Financial Results
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) rinzimetostat, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (2) enozertinib, a brain-penetrant inhibitor targeting EGFR exon 20 insertion and EGFR atypical mutations, being developed for NSCLC. 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 continued clinical development of rinzimetostat and enozertinib; the potential advantages of rinzimetostat and enozertinib; clinical outcomes, which may materially change as patient enrollment continues or more patient data become available; statements regarding the potential best-in-disease profile of rinzimetostat; the development plans and timelines for rinzimetostat and enozertinib; plans underlying ORIC’s clinical trials and development; anticipated program milestones, including timing of program and data updates and the initiation of a registrational trial; the period over which ORIC estimates its existing cash, cash equivalents and investments will be sufficient to fund its current operating plan; and statements by the company’s chief executive officer. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to
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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 rinzimetostat, enozertinib 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 or its clinical trial collaboration and supply agreements; the potential market for ORIC’s product candidates, and the progress and success of competing therapeutics currently available or in development; ORIC’s ability to raise any additional funding it will need to continue to pursue its business and product development plans; 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 Securities and Exchange Commission (the SEC) on May 4, 2026, 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
All registered trademarks are the property of their respective owners.
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ORIC PHARMACEUTICALS, INC.
CONDENSED BALANCE SHEETS
(in thousands)
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March 31, 2026 |
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December 31, 2025 |
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(unaudited) |
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Assets |
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Current assets: |
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Cash, cash equivalents and short-term investments |
$ |
281,932 |
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$ |
281,488 |
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Prepaid expenses and other current assets |
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8,301 |
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6,978 |
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Total current assets |
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290,233 |
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288,466 |
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Long-term investments |
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137,779 |
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110,762 |
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Property and equipment, net |
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2,147 |
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2,415 |
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Other assets |
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6,603 |
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7,247 |
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Total assets |
$ |
436,762 |
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$ |
408,890 |
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Liabilities and Stockholders' Equity |
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Current liabilities: |
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Accounts payable |
$ |
2,895 |
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$ |
3,824 |
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Accrued liabilities |
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14,876 |
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16,593 |
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Total current liabilities |
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17,771 |
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20,417 |
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Other long-term liabilities |
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3,434 |
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4,111 |
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Total liabilities |
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21,205 |
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24,528 |
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Total stockholders' equity |
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415,557 |
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384,362 |
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Total liabilities and stockholders' equity |
$ |
436,762 |
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$ |
408,890 |
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ORIC PHARMACEUTICALS, INC.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
(in thousands, except share and per share amounts)
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Three Months Ended |
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2026 |
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2025 |
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Operating expenses: |
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Research and development |
$ |
31,437 |
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$ |
24,640 |
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General and administrative |
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8,182 |
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8,078 |
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Total operating expenses |
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39,619 |
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32,718 |
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Loss from operations |
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(39,619 |
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(32,718 |
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Other income, net |
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3,852 |
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2,697 |
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Net loss |
$ |
(35,767 |
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$ |
(30,021 |
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Other comprehensive loss: |
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Unrealized loss on investments |
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(1,076 |
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(170 |
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Comprehensive loss |
$ |
(36,843 |
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$ |
(30,191 |
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Net loss per share, basic and diluted |
$ |
(0.34 |
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$ |
(0.42 |
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Weighted-average shares outstanding, basic and diluted |
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105,472,766 |
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71,040,580 |
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