ORIC® Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Operational Updates

Core Insights - ORIC Pharmaceuticals reported encouraging early safety and efficacy data for ORIC-944 in combination with androgen receptor inhibitors for metastatic castration-resistant prostate cancer (mCRPC) [1] - The company entered a clinical trial collaboration with Johnson & Johnson to evaluate ORIC-114 in combination with amivantamab for non-small cell lung cancer (NSCLC) patients with EGFR exon 20 insertion mutations [1][5] - ORIC anticipates seven data readouts across its clinical programs over the next 18 months, with potential registrational trials starting in the second half of 2025 and early 2026 [1][2] - The company has a cash position of 256 million, expected to fund operations into late 2026 [1][11] Clinical Developments - ORIC-114 is being developed as a brain penetrant, orally bioavailable, irreversible EGFR/HER2 inhibitor for NSCLC [3] - ORIC-944 is a potent and selective allosteric inhibitor of PRC2, currently in trials for prostate cancer [4] - The company has initiated multiple cohorts for ORIC-114 and ORIC-944, with ongoing trials showing promising results [2][5] - Preclinical data presented at major conferences indicate the potential best-in-class properties of both ORIC-114 and ORIC-944 [5][6] Financial Performance - For Q4 2024, ORIC reported R&D expenses of 32 million, up from $24.5 million in Q4 2023, reflecting increased external expenses and personnel costs [11] - General and administrative expenses for Q4 2024 were$7.6 million, compared to $6.9 million in Q4 2023 [11] - The total net loss for the year ended December 31, 2024, was$127.8 million, compared to $100.7 million for the previous year [16]