Oric Pharmaceuticals, Inc. - ORIC STOCK NEWS

ORIC Pharmaceuticals has announced a clinical collaboration with Pfizer for a Phase 2 study of ORIC-533, aimed at treating multiple myeloma. As part of the agreement, ORIC will receive a $25 million equity investment from Pfizer, extending its cash runway into the first half of 2025. ORIC-533, an oral CD73 inhibitor, will be evaluated in combination with elranatamab, a bispecific antibody targeting B-cell maturation antigen. Jeff Settleman, Pfizer's Chief Scientific Officer, will join ORIC’s Scientific Advisory Board to support the development process.

ORIC Pharmaceuticals (Nasdaq: ORIC) has presented promising preclinical data for its CD73 inhibitor, ORIC-533, showing potential as a best-in-class treatment for multiple myeloma. The data exhibit ORIC-533's ability to significantly reduce adenosine generation, overcoming immune suppression and leading to the effective lysis of multiple myeloma cells in ex vivo models. The company anticipates sharing initial clinical data from the ongoing Phase 1b trial in the first half of 2023, highlighting the potential of ORIC-533 to impact treatment outcomes for patients with this challenging cancer.

ORIC Pharmaceuticals, a clinical-stage oncology firm, will participate in a fireside chat at the Jefferies London Healthcare Conference on November 16, 2022, at 5:35 p.m. GMT. The discussion will be available via a live webcast on the company’s investor website, with a replay accessible for 90 days post-event.

ORIC is focused on developing therapies to combat cancer resistance, with candidates including ORIC-533 for multiple myeloma, ORIC-114 targeting specific cancer mutations, and ORIC-944 for prostate cancer. For more information, visit www.oricpharma.com.

ORIC Pharmaceuticals reported financial results for Q3 2022, highlighting significant developments in its oncology pipeline. The company has cash and investments of $218.0 million, expected to fund operations into 2H 2024. Key clinical advancements include FDA clearance for ORIC-114's US IND and ongoing Phase 1b trials for ORIC-533, ORIC-114, and ORIC-944. R&D expenses for Q3 2022 increased to $14.7 million, primarily driven by product advancement efforts. Initial Phase 1b data for these studies is anticipated in 1H 2023.

ORIC Pharmaceuticals announced a preclinical poster presentation of ORIC-533 at the 64th ASH Annual Meeting on December 10-13, 2022. The presentation, titled "CD73 Inhibition Reverses Immunosuppression and Has Potential As an Immunomodulatory Therapy in Patients with Multiple Myeloma," showcases ORIC-533's best-in-class profile as a CD73 inhibitor. Key findings include ORIC-533's ability to overcome immune suppression and significantly lyse multiple myeloma cells in vitro. A Phase 1b trial is ongoing, with initial data expected in H1 2023.

On October 3, 2022, ORIC Pharmaceuticals granted 116,560 non-qualified stock options and 19,435 restricted stock units to five new non-executive employees, effective from September 2022. These inducement grants, part of the 2022 Inducement Equity Incentive Plan, require continued employment for vesting. Stock options will vest 25% after one year, with monthly vesting thereafter, while one-third of restricted stock units will vest annually over three years. This was approved under Nasdaq Rule 5635(c)(4) as a material inducement for employment.

ORIC Pharmaceuticals (Nasdaq: ORIC), a clinical stage oncology company, announced its participation in three investor conferences this September. The events include the Citi’s 17th Annual Biopharma Conference on September 8 at 2:40 p.m. ET, the Wells Fargo Healthcare Conference on September 9 at 8:35 a.m. ET, and the H.C. Wainwright 24th Annual Global Investment Conference on September 12 at 7:00 a.m. ET. Webcasts of the discussions will be available on the company’s website and accessible for 90 days post-event.

ORIC Pharmaceuticals reported its financial results for Q2 2022, highlighting a robust cash position of $237.8 million to fund operations into the second half of 2024. The company is advancing three Phase 1 programs: ORIC-533 for multiple myeloma, ORIC-114 for EGFR/HER2 cancers, and ORIC-944 for prostate cancer, with initial data expected in 1H 2023. R&D expenses decreased to $13.8 million, while G&A expenses rose to $6.9 million. The CEO expressed confidence in their differentiated pipeline and upcoming clinical milestones.

ORIC Pharmaceuticals will participate in a fireside chat at the Jefferies Healthcare Conference on June 9, 2022, at 8:00 a.m. ET. This clinical stage oncology company focuses on developing treatments targeting therapeutic resistance mechanisms. Key product candidates include ORIC-533 for multiple myeloma, ORIC-114 for genetically defined cancers, and ORIC-944 for prostate cancer. A live webcast of the event will be available on the company’s website, with a replay accessible for 90 days thereafter.