Oric Pharmaceuticals, Inc. - ORIC STOCK NEWS

ORIC Pharmaceuticals reported Q3 2024 financial results and operational updates. The company presented preclinical data for ORIC-114, demonstrating potential best-in-class properties for treating EGFR exon 20 insertions. They announced clinical collaborations with Bayer and Johnson & Johnson for ORIC-944 trials in prostate cancer. Financial highlights include cash and investments of $282.4 million, expected to fund operations into late 2026. R&D expenses increased to $31.2 million in Q3 2024 from $22.4 million in Q3 2023, while G&A expenses rose to $7.1 million from $6.3 million in the same period.

ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced its participation in two upcoming investor conferences in November 2024. The company will be featured in fireside chats at Guggenheim's Inaugural Healthcare Innovation Conference on November 11 at 10:30 a.m. ET and the Jefferies London Healthcare Conference on November 21 at 12:00 p.m. GMT. Live webcasts of both discussions will be accessible through ORIC's investor website section, with replays available for 90 days after the events.

ORIC Pharmaceuticals announced the granting of inducement equity awards to two new non-executive employees who joined in October 2024. The grants include 61,800 non-qualified stock options and 10,400 restricted stock units. The stock options will vest 25% after one year, with remaining shares vesting monthly over three years. The restricted stock units will vest one-third annually over three years. These grants were made under the company's 2022 Inducement Equity Incentive Plan and approved by the Compensation Committee in accordance with Nasdaq Rule 5635(c)(4).

ORIC Pharmaceuticals presented data highlighting ORIC-114's potential as a best-in-class EGFR/HER2 inhibitor for treating EGFR exon 20 insertions and other atypical mutations. The brain-penetrant, orally bioavailable treatment demonstrated superior potency across EGFR mutational classes compared to other inhibitors. Key findings showed tumor regressions in all tested EGFR mutant models, with 100% tumor regressions in complex atypical mutant EGFR models. The drug displayed superior kinome selectivity and complete molecular responses in ctDNA from patients. Updated data from Phase 1b expansion cohorts is expected in H1 2025.

Candid Therapeutics, a clinical stage biotechnology company focused on T-cell engagers for autoimmune diseases, has appointed Angie You, Ph.D. and Dan Puckett to its board of directors. Dr. You, currently CEO of Architect Therapeutics, brings extensive experience in scaling organizations and advancing innovative products. She previously led Amunix Pharmaceuticals to a $1.2 billion acquisition by Sanofi. Mr. Puckett, former CFO of Shockwave Medical, played a key role in the company's growth leading to its $13.1 billion acquisition by Johnson & Johnson in 2024.

Ken Song, Chairman, President and CEO of Candid Therapeutics, expressed confidence that these proven leaders will be invaluable resources as the company aims to become a leader in treating autoimmune diseases. Both new board members have expressed enthusiasm for Candid's potential to transform autoimmune disease treatment through T-cell engagers.

ORIC Pharmaceuticals (Nasdaq: ORIC) announced a poster presentation at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics, scheduled for October 23-25, 2024, in Barcelona, Spain. The poster, titled "ORIC-114, a highly selective, brain penetrant EGFR and HER2 inhibitor, demonstrates best-in-class properties against exon 20 insertions and other atypical EGFR mutations," will be presented on October 23, 2024.

ORIC-114 is described as a highly selective, brain penetrant, orally bioavailable, irreversible inhibitor targeting EGFR and HER2 mutations. Preclinical analysis showed ORIC-114's superior properties compared to other inhibitors, including brain penetrance, kinome selectivity, and potent activity against various EGFR mutations. The drug has demonstrated clinical responses in patients with EGFR and HER2 exon 20 insertion mutations, including those with CNS metastases. ORIC-114 is currently being evaluated in a global clinical trial (NCT05315700).

ORIC Pharmaceuticals, a clinical stage oncology company, announced on October 4, 2024, that it granted 92,400 non-qualified stock options and 16,300 restricted stock units to four new non-executive employees who joined in September 2024. These inducement grants, approved on October 1, 2024, are part of ORIC's 2022 Inducement Equity Incentive Plan and are subject to continued employment.

The stock options have an exercise price equal to ORIC's closing stock price on the grant date. 25% of the stock options will vest after one year, with the remaining vesting monthly over three years. The restricted stock units will vest one-third annually over three years. These grants, approved by ORIC's Compensation Committee, comply with Nasdaq Rule 5635(c)(4) as material inducements to employment.

OpenBench and ORIC Pharmaceuticals (NASDAQ: ORIC) have launched a collaborative effort to enhance early drug discovery for an undisclosed oncology target. The partnership aims to leverage OpenBench's AI-enabled success-driven small molecule discovery approach and structure-based machine learning platform to complement ORIC's resistance platform in targeting cancer-specific vulnerabilities.

Under the agreement, OpenBench will receive payment for identifying novel small molecule chemotypes that meet ORIC's specified activity and developability criteria. In return, ORIC gains exclusive rights to the discovered leads and access to OpenBench's proprietary screening technology for the target of interest. While specific financial terms were not disclosed, this collaboration represents a strategic move to combine OpenBench's innovative discovery platform with ORIC's expertise in addressing mechanisms of therapeutic resistance in oncology.

ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced the granting of 173,200 non-qualified stock options and 28,900 restricted stock units to three new non-executive employees who joined in August 2024. These inducement grants, approved on September 3, 2024, are part of the company's 2022 Inducement Equity Incentive Plan. The stock options have an exercise price equal to ORIC's closing stock price on the grant date. 25% of the stock options will vest after one year, with the remaining vesting monthly over three years. The restricted stock units will vest in three equal annual installments. These grants, approved by ORIC's Compensation Committee, comply with Nasdaq Rule 5635(c)(4) and serve as material inducements for employment.