Oric(US:ORIC)2025-11-13 21:20Financial Performance - ORIC Pharmaceuticals reported a net loss of $99.0 million for the nine months ended September 30, 2025, with an accumulated deficit of $661.7 million[77]. - Other income, net for the nine months ended September 30, 2025, was $9.5 million, a decrease of $2.3 million from $11.8 million in the same period of 2024[89]. - ORIC Pharmaceuticals anticipates significant losses will continue as it advances its clinical programs, particularly ORIC-944 and enozertinib[77]. Research and Development Expenses - Research and development expenses for the three months ended September 30, 2025, were $28.8 million, a decrease of $2.4 million compared to $31.2 million in the same period of 2024[89]. - For the nine months ended September 30, 2025, research and development expenses increased to $84.0 million, up 2.3% from $82.1 million in the same period of 2024[91]. - Research and development expenses for Q3 2025 were $28.8 million, a decrease of 7.7% from $31.2 million in Q3 2024[90]. General and Administrative Expenses - General and administrative expenses increased to $7.9 million for the three months ended September 30, 2025, compared to $7.1 million in the same period of 2024[89]. - For the nine months ended September 30, 2025, general and administrative expenses rose to $24.5 million, a 15.6% increase from $21.2 million in the same period of 2024[94]. - General and administrative expenses for Q3 2025 were $7.9 million, an increase of 11.3% from $7.1 million in Q3 2024[93]. Operating Expenses - Total operating expenses for the nine months ended September 30, 2025, were $108.5 million, an increase of $5.1 million from $103.3 million in the same period of 2024[89]. Cash Flow and Financial Resources - Net cash used in operating activities for the nine months ended September 30, 2025, was $88.5 million, compared to $84.6 million in the same period of 2024[104]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $243.8 million, significantly higher than $126.0 million in the same period of 2024[110]. - As of September 30, 2025, the company had cash, cash equivalents, and investments totaling $413.0 million[116]. - The company expects its current financial resources to support operations into the second half of 2028[99]. - The company raised approximately $125.0 million from a private placement of common stock in May 2025[95]. - The company anticipates substantial additional capital will be required to develop product candidates and fund operations in the future[98]. Clinical Trials and Pipeline - ORIC-944 demonstrated a PSA50 response rate of 55% and a PSA90 response rate of 20% in patients with metastatic castration-resistant prostate cancer[74]. - Enozertinib is in a Phase 1b trial for advanced solid tumors, with initial data showing systemic and intracranial activity[75]. - A strategic pipeline prioritization was announced on August 12, 2025, resulting in a 20% workforce reduction and a one-time cost of approximately $1.9 million[85]. - The company expects to report dose optimization data for ORIC-944 in the first quarter of 2026 and initiate a Phase 3 trial in the first half of 2026[74].