ORIC® Pharmaceuticals Announces $125 Million Private Placement Financing

Core Points - ORIC Pharmaceuticals, Inc. has announced a private placement of approximately 19.2 million shares at a price of $6.50 per share, representing an 18% premium to its 10-day trailing volume-weighted average price as of May 23, 2025 [1][2] - The financing is expected to generate gross proceeds of approximately $125 million, which will fund the company's operating plan into the second half of 2027 and support the primary endpoint readout from the first ORIC-944 Phase 3 trial in prostate cancer [1][3] Financing Details - The financing is led by SR One and includes participation from various institutional investors such as Point72, Viking Global Investors, Venrock Healthcare Capital Partners, New Enterprise Associates (NEA), Nextech, Vivo Capital, and NEXTBio Capital [1][2] - The pre-funded warrants will have an exercise price of $0.0001 per share and will be immediately exercisable [1] Use of Proceeds - ORIC intends to utilize the net proceeds from the financing for research and development of its clinical-stage product candidates, working capital, and general corporate purposes [3] - The combined proceeds from this financing and existing cash, cash equivalents, and marketable securities are expected to be sufficient to fund the current operating plan through the anticipated primary endpoint readout from the ORIC-944 Phase 3 trial [3] Company Overview - ORIC Pharmaceuticals is focused on developing treatments that address mechanisms of therapeutic resistance in cancer, with key product candidates including ORIC-944 for prostate cancer and ORIC-114 for multiple genetically defined cancers [6] - The company operates from offices in South San Francisco and San Diego, California [6]