ORIC Pharmaceuticals Touts Positive Efficacy, Safety Data From Early-Stage Prostate Cancer Candidate, Raises Capital

Core Insights - ORIC Pharmaceuticals Inc. released preliminary efficacy and safety data from its ongoing Phase 1b trial of ORIC-944 in combination with androgen receptor inhibitors for metastatic castration-resistant prostate cancer (mCRPC) [1][2] - The company announced a $125 million private placement financing to extend its cash runway into the second half of 2027 [3] Preliminary Activity Analysis - 59% of patients (10 out of 17) achieved a PSA50 response, with a confirmed PSA50 response rate of 47% (8 out of 17) [4] - 24% of patients (4 out of 17) achieved a PSA90 response, all of which were confirmed [4] - PSA responses were consistent across all ORIC-944 dose levels and in combination with both apalutamide and darolutamide [4] Preliminary Safety Analysis - ORIC-944 combined with apalutamide or darolutamide has been generally well tolerated, with most adverse events being Grade 1 or 2 [1] - Adverse events are consistent with PRC2 and AR inhibition [1] Future Plans - The company plans to evaluate two candidate RP2Ds for each combination in the dose optimization portion of the trial in the second half of 2025 [1] - Data from the dose optimization will inform the choice of ORIC-944 dose for the first global Phase 3 registrational trial in mCRPC, expected to start in the first half of 2026 [2] Financial Update - The company will sell approximately 19.2 million shares in a private placement at $6.50 per share [3] - ORIC stock was up 24.7% at $7.44 during the premarket session following the announcement [3]