Financial Data and Key Metrics Changes - Operating expenses net for 2025 decreased to approximately $13.8 million from approximately $22 million in 2024 [16] - Total operating expenses net for Q4 2025 were approximately $3.2 million, down from approximately $4.3 million in Q4 2024 [16] - Revenues for 2025 totaled approximately $3.9 million, a decrease from approximately $5.6 million in 2024 [21] - Net loss for 2025 was approximately $7.8 million compared to approximately $18.1 million in the previous year [30] - Operating loss for Q4 2025 was approximately $5.2 million, an increase from approximately $3.5 million in Q4 2024 [26] Business Line Data and Key Metrics Changes - Lavie Bio Ltd. completed the sale of the majority of its operations, significantly reducing its operational expenses [17] - Biomica scaled down operations and entered into a license agreement with Lishan Pharmaceuticals for its lead oncology candidate [17] - AgPlenus integrated into core operations, focusing on novel ag chemical products [18] - Casterra Ag ceased operations in Kenya and recorded an impairment of approximately $2.2 million related to its seed inventory [18][22] Market Data and Key Metrics Changes - The demand for castor seeds significantly declined, impacting Casterra's operations [18] - The agriculture industry has faced negative performance, affecting collaboration willingness, but there are signs of improvement [40] Company Strategy and Development Direction - The company has focused on two high-impact markets: human health and agriculture, utilizing ChemPass AI for drug development and ag chemicals [8] - A strategic transformation was initiated to streamline operations and enhance long-term value creation [6] - The mission is to become the partner of choice for small molecule discovery and optimization in pharma and agriculture [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of reduced expense levels and the potential for cash inflow from Lavie Bio and Biomica [35] - The company anticipates significant future collaborations with technology and pharmaceutical companies, which could serve as catalysts for growth [36][40] Other Important Information - The company held consolidated cash equivalents of approximately $13 million as of December 31, 2025 [20] - Financing income net for 2025 was approximately $0.6 million, a decrease from approximately $4 million in the previous year [26] Q&A Session Summary Question: Can you speak to the terms of the BMC128 license agreement with Lishan Pharmaceuticals? - The agreement includes milestone payments based on advancing BMC128 and revenue sharing from the end product [33] Question: Can you speak to the magnitude of cash potentially coming in from Lavie Bio and Biomica? - Expected cash from Lavie Bio and Biomica will satisfy operational needs for at least mid-next year [35] Question: What are the expected investor catalysts over the coming 12 months? - Three types of catalysts were identified: technology collaborations, additional pharma collaborations, and ag chemical collaborations [36][40]

Summary of ORIC Pharmaceuticals Conference Call Company Overview - **Company Name**: ORIC Pharmaceuticals - **Ticker**: NasdaqGS:ORIC - **Focus**: Development of small molecule drugs in oncology, specifically targeting solid tumors like prostate cancer and lung cancer [2][3] Key Points and Arguments Lead Programs - ORIC is currently focused on two lead programs in prostate cancer and lung cancer, both in dose optimization and expected to start pivotal phase three studies in 2026 [2][3] ORIC-944 Program - Recent data showed encouraging results for the ORIC-944 program, particularly in combination with apalutamide and daralutamide, with impressive PSA response rates [3][4] - ORIC-944 has a 20-hour half-life compared to Pfizer's memoremedistat, which has a five-hour half-life, suggesting a potential safety advantage [3][19] - The ability to clear ctDNA was observed in 59% of patients, which correlates strongly with long-term outcomes like PFS and OS [5][9] Safety Profile - The safety profile of ORIC-944 appears favorable, with only one grade 3 adverse event reported in 20 patients, compared to multiple grade 3 events in Pfizer's studies [13][15] - A clean safety profile is crucial for future development, especially in earlier lines of treatment for prostate cancer [14][15] Market Opportunity - The metastatic CRPC market is estimated at approximately 50,000 patients, with a total addressable market (TAM) of about $3.5 billion in the US for each of the post-AR inhibitors and post-abiraterone populations [29][30] - Historical data suggests that even with an undifferentiated profile, a second-to-market drug can capture about 35% of the market [30] Future Development Plans - ORIC plans to submit dose optimization data to regulators in early 2026 to align on pivotal study design [25][26] - The first phase three study is expected to start in the first half of 2026, with primary readout anticipated in the second half of 2027 [27][28] Pipeline Asset ORIC-114 - ORIC-114 is focused on non-small cell lung cancer, with updates expected at ESMO Asia in December, including data from multiple cohorts [35] - The drug is designed to be CNS-penetrant, which may lead to longer PFS outcomes for patients with brain metastases [36][37] Financial Position - As of the third quarter, ORIC had $413 million in cash and investments, providing a runway into the second half of 2028, covering pivotal studies for both ORIC-944 and ORIC-114 [42] Additional Important Information - ORIC maintains strong relationships with Bayer and Johnson & Johnson, which are crucial for future collaborations [31][32] - The company is exploring the potential of PRC2 inhibitors in other oncology indications beyond prostate cancer, including breast cancer and lung cancer [33][34]