ORIC Stock Surges on Upbeat Initial Data From Prostate Cancer Study

Core Viewpoint - ORIC Pharmaceuticals' shares increased over 20% in pre-market trading following the announcement of promising preliminary efficacy and safety data for its prostate cancer treatment candidate, ORIC-944 [1] Group 1: Study Results - ORIC-944 is being evaluated in a phase Ib study in combination with J&J's Erleada and Bayer's Nubeqa for treating metastatic castration-resistant prostate cancer (mCRPC) [2] - The study reported that 59% of the 17 previously-treated mCRPC patients showed a 50% drop in PSA levels (PSA50 response), with a confirmed PSA50 rate of 47% [4] - Additionally, 24% of patients demonstrated a 90% drop in PSA levels (PSA90 response), all of which were confirmed [4] - PSA responses were consistent across all dosage levels and combinations with either Erleada or Nubeqa, indicating a well-tolerated safety profile with mild to moderate adverse events [6] Group 2: Future Plans - ORIC Pharmaceuticals aims to complete the phase Ib dose exploration by mid-2025 and plans to test two potential recommended phase II doses in the second half of 2025 [7] - The results from the dose optimization phase will inform the best ORIC-944 dose for the first global phase III study, expected to start in the first half of 2026 [8] Group 3: Financial Aspects - ORIC Pharmaceuticals announced a $125 million private placement to fund operations through the second half of 2027, covering expenses until the primary endpoint data readout from the phase III mCRPC study [9]