Oric Pharmaceuticals, Inc. - ORIC STOCK NEWS

ORIC Pharmaceuticals reported Q2 2024 financial results and operational updates. Key highlights include:

• Initiated ORIC-944 dosing in combinations with NUBEQA® and ERLEADA® in an ongoing Phase 1b prostate cancer trial
• Entered clinical trial collaboration agreements with Bayer and Johnson & Johnson
• Appointed Keith Lui as SVP of Commercial and Medical Affairs
• Cash and investments of $308.5 million, expected to fund operations into late 2026
• R&D expenses increased to $28.9 million in Q2 2024, up from $18.8 million in Q2 2023
• G&A expenses rose to $7.1 million in Q2 2024, compared to $6.2 million in Q2 2023

The company progressed its pipeline, including ORIC-114 for NSCLC and ORIC-944 for prostate cancer, with data updates expected in 2025.

ORIC Pharmaceuticals (Nasdaq: ORIC) has appointed Keith Lui as Senior Vice President of Commercial and Medical Affairs. This strategic move strengthens ORIC's leadership team as the company advances its oncology pipeline. Mr. Lui brings over 20 years of biopharma experience, specializing in transitioning clinical-stage companies to full commercialization.

Lui's impressive track record includes contributions to the launches of Imbruvica®, Zelboraf®, Pepaxto®, Posimir®, and new indications for Avastin® and Rituxan®. His expertise spans strategic planning, commercial launches, and medical affairs. ORIC's CEO, Dr. Jacob M. Chacko, emphasized Lui's value as the company prepares for potential registrational studies in 2025 and future commercialization efforts.

ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, has announced the granting of inducement awards to two new non-executive employees who joined in July 2024. The grants, approved on August 1, 2024, include 33,000 non-qualified stock options and 5,600 restricted stock units. These awards are part of the company'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 options will vest after one year, with the remaining vesting monthly over the next three years. The restricted stock units will vest in three equal annual installments. These inducement grants were approved by ORIC's Compensation Committee and comply with Nasdaq Rule 5635(c)(4).

ORIC Pharmaceuticals (Nasdaq: ORIC) has announced multiple clinical collaborations to support its ongoing trial of ORIC-944, a potential best-in-class PRC2 inhibitor, in combination with AR inhibitors for prostate cancer treatment. The company has initiated dosing of ORIC-944 in combination with darolutamide and apalutamide in a Phase 1b trial for metastatic prostate cancer patients.

ORIC has entered into clinical trial collaboration and supply agreements with Bayer and Johnson & Johnson's Janssen Research & Development. These partnerships will provide darolutamide (NUBEQA®) and apalutamide (ERLEADA®) for the study, while ORIC maintains full global development and commercial rights to ORIC-944.

The combination approach is based on promising preclinical findings and emerging clinical data, demonstrating synergy in multiple prostate cancer models with a unique mechanism of reprogramming prostate cancer to revert to an AR-dependent state.

ORIC Pharmaceuticals, a clinical-stage oncology company, has announced inducement grants under Nasdaq Listing Rule 5635(c)(4) to three new non-executive employees. The grants, made on July 1, 2024, include 34,000 non-qualified stock options and 5,600 restricted stock units, issued under the 2022 Inducement Equity Incentive Plan. The stock options have an exercise price equivalent to ORIC's common stock closing price on the grant date and will vest over a period of four years, with specific terms for both stock options and restricted units. These grants were approved by ORIC's Compensation Committee as a material inducement for employment, in line with Nasdaq regulations.

ORIC Pharmaceuticals announced inducement grants under Nasdaq Listing Rule 5635(c)(4) on June 3, 2024. The company granted 30,000 non-qualified stock options and 4,800 restricted stock units to three new non-executive employees who joined in May 2024. These grants were made under the 2022 Inducement Equity Incentive Plan and subject to continued employment through applicable vesting dates. The stock options have an exercise price equivalent to ORIC's common stock closing price on the grant date. 25% of the options vest after one year, with the remainder vesting monthly over the subsequent three years. The restricted stock units vest in equal parts over three years. Approved by ORIC's Compensation Committee, these grants were intended as material inducements for employment as per Nasdaq rules.

ORIC Pharmaceuticals, a clinical stage oncology company listed on Nasdaq under the ticker ORIC, has announced participation in two key investor conferences in June 2024. The company's management will appear at the Jefferies Global Healthcare Conference on June 5 at 10:30 a.m. ET and the Goldman Sachs 45th Annual Global Healthcare Conference on June 10 at 10:40 a.m. ET. Webcasts of these discussions will be available on the company's website, with replays accessible for 90 days following the events.

ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC) reported strong financial results and operational updates for Q1 2024. The company initiated three expansion cohorts for ORIC-114 and presented positive data for ORIC-944 in prostate cancer. Cash and investments stand at $331.5 million, ensuring funding until late 2026.

ORIC Pharmaceuticals, Inc. announced the granting of 14,500 non-qualified stock options and 2,300 restricted stock units to new non-executive employees under the 2022 Inducement Equity Incentive Plan. The grants were approved as inducements to employment and are subject to vesting conditions.