Welcome to our dedicated page for Oric Pharmaceuticals news (Ticker: ORIC), a resource for investors and traders seeking the latest updates and insights on Oric Pharmaceuticals stock.
Oric Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, is dedicated to discovering and developing innovative therapies for the treatment of cancer. Headquartered in South San Francisco, California, Oric Pharmaceuticals was founded in 2014 and has since focused on addressing the challenging problem of cancer resistance to existing treatments.
The company's lead product candidate is ORIC-101, a small molecule antagonist of the glucocorticoid receptor. This receptor has been identified as a key player in the resistance mechanisms against various classes of cancer therapeutics, particularly across solid tumors. By targeting this receptor, ORIC-101 aims to enhance the effectiveness of existing cancer treatments.
Another significant asset in Oric's pipeline is ORIC-533, an orally bioavailable small molecule inhibitor of CD73. CD73 plays a role in resistance to both chemotherapy and immunotherapy, and ORIC-533 is being developed to counteract this resistance, offering a potential new avenue for treating patients who do not respond to current therapies.
In addition to ORIC-101 and ORIC-533, the company is also developing ORIC-944 and ORIC-114, each targeting different mechanisms of cancer resistance. ORIC-944 has shown promise in initial Phase 1b data, and the company has outlined several anticipated milestones for these programs in the near future.
Oric Pharmaceuticals demonstrates a robust commitment to advancing the field of precision oncology. The company leverages its expertise in hormone-dependent cancers, precision oncology, and key tumor dependencies to build a diverse pipeline of therapies. These efforts are supported by strategic partnerships and collaborations aimed at accelerating the development and commercialization of their treatment candidates.
Financially, Oric Pharmaceuticals has provided guidance and updates to keep stakeholders informed about their progress and strategic direction. For the latest news and developments, investors and interested parties are encouraged to stay tuned to the company's announcements.
Contact: Dominic Piscitelli, Chief Financial Officer
ORIC Pharmaceuticals, a clinical-stage oncology firm, reported Q3 2020 financial results, highlighting progress in its oncology pipeline. The company secured licenses for the EGFR/HER2 inhibitor (ORIC-114) and PRC2 inhibitor (ORIC-944), with expectations to file IND applications for multiple programs in 2021. Significant milestones anticipated include interim data readouts for ORIC-101 and initiation of trials for ORIC-114. Financially, cash reserves stand at $186.6 million, expected to sustain operations into H2 2022, though R&D and G&A expenses have risen significantly compared to last year.
ORIC Pharmaceuticals has entered into an exclusive license agreement with Voronoi for the development of ORIC-114, a selective inhibitor targeting EGFR and HER2 exon 20 insertion mutations. ORIC-114 is designed for brain penetrance and aims to address a critical unmet medical need, particularly in patients with brain metastases. ORIC will initiate a global Phase 1/2 trial in the second half of 2021, having paid $5 million in cash and $8 million in stock, along with potential milestone payments totaling up to $608 million. This partnership enhances ORIC's pipeline in precision oncology.
On October 9, 2020, ORIC Pharmaceuticals announced a presentation at the 32nd EORTC-NCI-AACR Symposium, showcasing preclinical data on ORIC-101, a glucocorticoid receptor antagonist. The study demonstrates ORIC-101's ability to combat GR-mediated resistance in prostate cancer cell lines treated with androgen receptor degraders. ORIC-101 is currently in two Phase 1b trials, one with enzalutamide in metastatic prostate cancer and another with nab-paclitaxel in advanced solid tumors. Interim data is expected in 2021.
ORIC Pharmaceuticals (Nasdaq: ORIC) announced participation in key investor conferences in September 2020. CEO Jacob Chacko will join the Citi's 15th Annual BioPharma Virtual Conference on September 9, and present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 15. Additionally, ORIC will host virtual meetings at the 2020 Cantor Virtual Global Healthcare Conference on September 17 and participate in a fireside chat at the Oppenheimer Fall Healthcare Life Sciences & Med Tech Summit on September 22. Webcasts will be available on the company's website.
ORIC Pharmaceuticals reported significant progress in its clinical pipeline, including the anticipated IND filings for PRC2 inhibitor ORIC-944 and CD73 inhibitor ORIC-533 in 2021. Financial results for Q2 2020 showed cash and equivalents at $196.6 million, bolstered by an IPO that raised $138 million. R&D expenses rose to $7.7 million, and G&A expenses increased to $3.4 million, reflecting higher operational costs. The company is focused on advancing its projects, with plans for interim data readouts scheduled for the upcoming year.
ORIC Pharmaceuticals has secured exclusive worldwide rights to develop and commercialize a novel PRC2 inhibitor through a licensing agreement with Mirati Therapeutics. The compound, ORIC-944, is targeted for prostate cancer treatment and is positioned as potentially best-in-class. ORIC plans to file an IND for ORIC-944 in the second half of 2021. In exchange for the license, ORIC issued a one-time non-cash payment of $20 million in ORIC common stock, based on a share price of $34.00, with no future milestone or royalty obligations.
ORIC Pharmaceuticals (Nasdaq: ORIC) announced a conference call on August 5, 2020, at 4:30 p.m. ET to discuss second quarter 2020 financial results and business highlights. Participants can join by dialing (866) 393-4306 or (734) 385-2616 for international calls, using conference ID: 5167646. The event will also be available via live webcast on the company's website, which will remain archived for 60 days. ORIC focuses on innovative oncology treatments aimed at overcoming therapeutic resistance, with lead candidate ORIC-101 currently in Phase 1b trials.
ORIC Pharmaceuticals presented encouraging preclinical data for its ORIC-101 glucocorticoid receptor antagonist and ORIC-533 CD73 inhibitor at the AACR Virtual Annual Meeting II. ORIC-101 showed the ability to reverse GR-mediated resistance across various tumor models, which is critical in cancer treatment. The ongoing Phase 1b trials with enzalutamide and nab-paclitaxel aim to further assess its effectiveness. Meanwhile, ORIC-533 has demonstrated notable potency in inhibiting adenosine production, with potential benefits for immunotherapy and anti-tumor responses.
ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC) appointed Dr. Lori Kunkel to its board of directors, enhancing its expertise in oncology and immunology. Dr. Kunkel, with over twenty-five years of experience, has played a pivotal role in the development and commercialization of various oncology therapies. CEO Jacob Chacko expressed enthusiasm for her contributions as the company advances its lead asset, ORIC-101, in clinical development. ORIC-101 is currently being tested in two Phase 1b trials, showcasing the company's commitment to overcoming therapeutic resistance in cancer.
ORIC Pharmaceuticals, a clinical-stage oncology company, will have its CEO, Jacob Chacko, present at the Jefferies Virtual Healthcare Conference on June 2, 2020, at 11:00 am ET. The company focuses on developing therapies to combat therapeutic resistance in cancer. Its lead candidate, ORIC-101, is currently undergoing Phase 1b trials in conjunction with Xtandi and Abraxane. A webcast of the presentation will be available via the investor section of their website, with a replay accessible for 90 days afterward.
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