ORIC Pharmaceuticals (Nasdaq: ORIC) starts Phase 3 cancer trial with $387.6M cash
Rhea-AI Filing Summary
ORIC Pharmaceuticals, Inc. reported financial results and pipeline progress for the quarter ended June 30, 2026. Cash, cash equivalents and investments totaled $387.6 million, including $59.9 million in net proceeds raised under an at-the-market program, which are expected to fund the operating plan into 2H 2028.
For Q2 2026, research and development expenses were $36.3 million versus $30.5 million a year earlier, and general and administrative expenses were $9.0 million versus $8.5 million. Net loss was $41,492 thousand, with net loss per share of $0.38 compared with $0.47 in Q2 2025.
Operationally, ORIC initiated Himalayas-1, a global Phase 3 registrational trial of rinzimetostat in mCRPC, targeting about 600 patients across 25 countries, and entered a collaboration with Bayer, which will supply NUBEQA (darolutamide) at no cost while ORIC retains full rights to rinzimetostat. Enozertinib continues in Phase 1b NSCLC studies, with multiple data readouts anticipated in 2H 2026 and October 2026.
Positive
- None.
Negative
- None.
8-K Event Classification
Key Figures
Key Terms
mCRPC medical
Phase 3 registrational trial regulatory
radiographic progression-free survival medical
allosteric inhibitor medical
EGFR exon 20 insertion mutations medical
at-the-market (ATM) program financial
Earnings Snapshot
The company expects its existing cash and investments to fund its current operating plan into the second half of 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were ORIC (ORIC) cash and investment balances as of June 30, 2026?
What loss did ORIC (ORIC) report for the second quarter of 2026?
How did ORIC (ORIC) research and development expenses change in Q2 2026?
What major clinical trial did ORIC (ORIC) initiate in Q2 2026?
What collaboration did ORIC (ORIC) enter regarding the Himalayas-1 trial?
What upcoming clinical milestones has ORIC (ORIC) highlighted for 2026?
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
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
|
|||
(State or other jurisdiction of incorporation) |
|
(Commission File Number) |
|
(IRS Employer |
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
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:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
|
The |
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 August 3, 2026, ORIC Pharmaceuticals, Inc. (the “Company”), issued a press release announcing its financial results for the fiscal quarter ended June 30, 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. |
|
Description |
|
|
|
99.1 |
|
Press Release dated August 3, 2026 |
104 |
|
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.
|
|
|
|
|
|
|
|
|
|
|
|
|
ORIC PHARMACEUTICALS, INC. |
|
|
|
|
|||
Date: August 3, 2026 |
|
|
|
By: |
|
/s/ Dominic Piscitelli |
|
|
|
|
|
|
Dominic Piscitelli Chief Financial Officer |
|
Exhibit 99.1 |
ORIC® Pharmaceuticals Reports Second Quarter 2026 Financial Results and Operational Updates
Initiated Himalayas-1 global Phase 3 trial in patients with mCRPC previously treated with abiraterone
Entered into a clinical trial collaboration and supply agreement with Bayer to provide darolutamide for Himalayas-1
Anticipate rinzimetostat program update in 2H 2026 and enozertinib clinical updates in 2H 2026 ahead of potential initiation of a registrational trial
Cash and investments of approximately $388 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 – August 3, 2026 – ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing and commercializing treatments that address mechanisms of therapeutic resistance, today reported financial results and provided operational updates for the quarter ended June 30, 2026.
“The recent initiation of Himalayas-1, a global Phase 3 registrational trial, brings us closer to delivering a potentially practice-changing therapy for patients with prostate cancer,” said Jacob M. Chacko, M.D., president and chief executive officer. “With rinzimetostat now in Phase 3 and enozertinib approaching a key clinical update in the second half of the year, ORIC has become a diversified, late-stage oncology company with multiple opportunities to create meaningful value for patients while advancing our mission of Overcoming Resistance In Cancer.”
Second 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
Enozertinib is currently being evaluated in Phase 1b trials across the following first-line patient populations with advanced NSCLC:
Anticipated Program Milestones:
ORIC anticipates the following upcoming milestones:
Second 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; 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; the period over which ORIC estimates its existing cash 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 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 ORIC’s limited operating history; 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, expected or prior clinical trial 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 August 3, 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.
|
|
|
ORIC PHARMACEUTICALS, INC.
CONDENSED BALANCE SHEETS
(in thousands)
|
June 30, 2026 |
|
|
December 31, 2025 |
|
||
|
(unaudited) |
|
|
|
|
||
Assets |
|
||||||
Current assets: |
|
|
|
|
|
||
Cash, cash equivalents and short-term investments |
$ |
264,761 |
|
|
$ |
281,488 |
|
Prepaid expenses and other current assets |
|
8,934 |
|
|
|
6,978 |
|
Total current assets |
|
273,695 |
|
|
|
288,466 |
|
|
|
|
|
|
|
||
Long-term investments |
|
122,799 |
|
|
|
110,762 |
|
Property and equipment, net |
|
2,242 |
|
|
|
2,415 |
|
Other assets |
|
5,949 |
|
|
|
7,247 |
|
Total assets |
$ |
404,685 |
|
|
$ |
408,890 |
|
|
|
|
|
|
|
||
Liabilities and Stockholders' Equity |
|
||||||
Current liabilities: |
|
|
|
|
|
||
Accounts payable |
$ |
3,873 |
|
|
$ |
3,824 |
|
Accrued liabilities |
|
16,883 |
|
|
|
16,593 |
|
Total current liabilities |
|
20,756 |
|
|
|
20,417 |
|
|
|
|
|
|
|
||
Other long-term liabilities |
|
2,673 |
|
|
|
4,111 |
|
Total liabilities |
|
23,429 |
|
|
|
24,528 |
|
|
|
|
|
|
|
||
Total stockholders' equity |
|
381,256 |
|
|
|
384,362 |
|
Total liabilities and stockholders' equity |
$ |
404,685 |
|
|
$ |
408,890 |
|
|
|
|
ORIC PHARMACEUTICALS, INC.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
(in thousands, except share and per share amounts)
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
||||
Research and development |
$ |
36,296 |
|
|
$ |
30,549 |
|
|
$ |
67,733 |
|
|
$ |
55,189 |
|
General and administrative |
|
9,000 |
|
|
|
8,515 |
|
|
|
17,182 |
|
|
|
16,593 |
|
Total operating expenses |
|
45,296 |
|
|
|
39,064 |
|
|
|
84,915 |
|
|
|
71,782 |
|
Loss from operations |
|
(45,296 |
) |
|
|
(39,064 |
) |
|
|
(84,915 |
) |
|
|
(71,782 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Other income, net |
|
3,804 |
|
|
|
2,709 |
|
|
|
7,656 |
|
|
|
5,406 |
|
Net loss |
$ |
(41,492 |
) |
|
$ |
(36,355 |
) |
|
$ |
(77,259 |
) |
|
$ |
(66,376 |
) |
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized loss on investments |
|
(728 |
) |
|
|
(22 |
) |
|
|
(1,804 |
) |
|
|
(192 |
) |
Comprehensive loss |
$ |
(42,220 |
) |
|
$ |
(36,377 |
) |
|
$ |
(79,063 |
) |
|
$ |
(66,568 |
) |
Net loss per share, basic and diluted |
$ |
(0.38 |
) |
|
$ |
(0.47 |
) |
|
$ |
(0.72 |
) |
|
$ |
(0.89 |
) |
Weighted-average shares outstanding, basic and diluted |
|
108,012,388 |
|
|
|
78,126,257 |
|
|
|
106,749,594 |
|
|
|
74,602,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|