SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Nov. 04, 2024 (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 management will participate in the following investor conferences in November: Guggenheim’s Inaugural Healthcare Innovation Conference – Participating in a fireside chat on Monday, November 11, 2024, at 10:30 a.m. ETJefferies London Healthcare Conferenc ...

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Nov. 01, 2024 (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 on November 1, 2024 (the “Grant Date”), ORIC granted a total of 61,800 non-qualified stock options and 10,400 restricted stock units to two new non-executive employees who began their employment with ORIC in October 2024. These inducement grants were gra ...

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Oct. 09, 2024 (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 the company will present a poster at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics to be held October 23-25, 2024, in Barcelona, Spain. Poster presentation details: Title: ORIC-114, a highly selective, brain penetrant EGFR an ...

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Sept. 06, 2024 (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 on September 3, 2024 (the "Grant Date"), ORIC granted a total of 173,200 non-qualified stock options and 28,900 restricted stock units to three new nonexecutive employees who began their employment with ORIC in August 2024. These inducement grants were ...

Financial Performance - ORIC Pharmaceuticals reported a net loss of $57.0 million for the six months ended June 30, 2024, with an accumulated deficit of $491.9 million[39]. - Total operating expenses for the first half of 2024 were $65.0 million, an increase of 28% from $50.7 million in the same period of 2023[44]. - Total cash used in operating activities for the first half of 2024 was $55.8 million, compared to $41.8 million in the same period of 2023, reflecting a 33.5% increase[53]. - The company has not generated any revenue to date and anticipates requiring substantial additional capital for ongoing operations and product development[49]. Research and Development - Research and development expenses for Q2 2024 were $28.9 million, up from $18.8 million in Q2 2023, representing an increase of 54%[44]. - For the first half of 2024, research and development expenses totaled $50.9 million, compared to $38.3 million in the same period of 2023, an increase of 32.9%[45]. - The company expects substantial increases in research and development expenses as it advances product candidates and conducts additional clinical trials[45]. - ORIC-114 is currently in a Phase 1b trial, with initial data showing systemic and intracranial activity in patients with advanced solid tumors[38]. - ORIC-944 demonstrated a clinical half-life of approximately 20 hours and favorable safety profile in its Phase 1b trial for advanced prostate cancer[38]. - ORIC-533 is completing a Phase 1b trial in patients with relapsed/refractory multiple myeloma, with initial data reported at the ASH annual meeting in December 2023[38]. Funding and Capital - The company initiated a private placement of 12.5 million shares at $10.00 per share, resulting in gross proceeds of $125.0 million[39]. - Net cash provided by financing activities in the first half of 2024 was $125.8 million, up from $85.2 million in the same period of 2023, a 47.5% increase[55]. - The company raised $125.0 million through a private placement of 12,500,000 shares at $10.00 per share in January 2024[48]. - The company expects its current cash and investments to fund operations into late 2026, but may require additional funding to support product development and commercialization efforts[49]. Expenses and Costs - General and administrative expenses for Q2 2024 were $7.1 million, compared to $6.2 million in Q2 2023, reflecting a 14% increase[44]. - The total external costs for Q2 2024 were $21.5 million, compared to $12.9 million in Q2 2023, marking a 66.5% increase[46]. Cash and Investments - As of June 30, 2024, the company had cash equivalents and investments totaling $308.5 million, including interest-bearing money market funds and U.S. Treasury securities[58]. - The company aims to preserve principal and liquidity while maximizing income without significantly increasing risk[58]. - An immediate 100 basis point change in interest rates would not have a material effect on the fair market value of the company's cash equivalents and investments[58]. Inflation and Economic Impact - Inflation impacts the company by increasing labor, clinical trial, and manufacturing costs[58]. - The company does not believe that inflation, interest rate changes, or exchange rate fluctuations significantly affected its results of operations for the periods presented[58].

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, June 07, 2024 (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 on June 3, 2024 (the "Grant Date"), ORIC granted a total of 30,000 non-qualified stock options and 4,800 restricted stock units to three new non-executive employees who began their employment with ORIC in May 2024. These inducement grants were granted pu ...

ORIC Pharmaceuticals, Inc. (ORIC) announced that it has collaborated with pharma giants Bayer (BAYRY) and Janssen Research & Development, LLC, a Johnson & Johnson (JNJ) company, to support its ongoing study evaluating pipeline candidate ORIC-944. ORIC will evaluate ORIC-944 in combination with Bayer's Nubeqa (darolutamide), an androgen receptor (AR) inhibitor, and Johnson & Johnson's AR inhibitor Erleada (apalutamide). ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 ...

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced it initiated dosing of ORIC-944, a potent and selective allosteric inhibitor of PRC2, in combination with darolutamide as well as in combination with apalutamide, in the first half of 2024 as part of the ongoing Phase 1b trial in patients with metast ...

Core Insights - ORIC Pharmaceuticals is advancing ORIC-944, a promising PRC2 inhibitor, in combination with darolutamide and apalutamide for treating metastatic castration-resistant prostate cancer (mCRPC) [1][5][6] - The ongoing Phase 1b trial aims to evaluate the safety and efficacy of these combinations, with ORIC maintaining full global development and commercial rights to ORIC-944 [1][5][6] Company Developments - ORIC has initiated dosing of ORIC-944 in combination with darolutamide and apalutamide in the first half of 2024 as part of the Phase 1b trial [5][6] - The trial includes dose escalation and expansion portions for both combinations, assessing their potential benefits in treating prostate cancer [5][6] Clinical Collaboration - ORIC has entered into clinical trial collaboration and supply agreements with Bayer and Johnson & Johnson to support the evaluation of ORIC-944 [5][6] - The collaborations are expected to enhance the investigation of ORIC-944's broader potential in combination with androgen receptor (AR) inhibitors [2][6] Mechanism and Efficacy - ORIC-944 is characterized as a potent and selective allosteric inhibitor of PRC2, demonstrating a clinical half-life of approximately 20 hours and a favorable safety profile [7] - Preclinical findings suggest that the combination of ORIC-944 with AR inhibitors may reprogram prostate cancer to revert to an AR-dependent state, indicating a novel treatment paradigm [2][7]

Core Points - ORIC Pharmaceuticals, Inc. granted inducement equity awards to three new non-executive employees on June 3, 2024, consisting of 30,000 non-qualified stock options and 4,800 restricted stock units [1][2] - The inducement grants are part of the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan and are contingent on the recipients' continued employment [2][3] - The stock options have an exercise price equal to the closing price of ORIC's common stock on the Grant Date, with a vesting schedule that includes 25% vesting after one year and the remainder vesting monthly thereafter [2] - One-third of the restricted stock units will vest on each of the first three anniversaries of the Grant Date [2] Company Overview - ORIC Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing treatments that address mechanisms of therapeutic resistance in cancer [4] - The company's product candidates include ORIC-114, ORIC-944, and ORIC-533, targeting various cancer types and resistance mechanisms [4] - ORIC is also developing multiple precision medicines aimed at overcoming cancer resistance [4]