ORIC Pharmaceuticals Q1 2020 Earnings Report
Key Takeaways
ORIC Pharmaceuticals reported first quarter 2020 financial results. The company's cash and cash equivalents totaled $79.4 million as of March 31, 2020. Research and development expenses were $7.3 million, while general and administrative expenses were $1.9 million for the quarter.
First patient dosed in ORIC-101 Phase 1b combination trial for prostate cancer.
Preclinical data on CD73 Inhibitor Program Presented at AACR.
Completed initial public offering with gross proceeds of $138.0 million.
Strengthened executive leadership and board.
ORIC Pharmaceuticals
ORIC Pharmaceuticals
Forward Guidance
ORIC anticipates several milestones including selecting the recommended Phase 2 dose for ORIC-101 combination trials, reporting interim data from these trials, and filing an Investigational New Drug Application for ORIC-533.
Positive Outlook
- ORIC expects to select the recommended Phase 2 dose for its two ongoing ORIC-101 combination trials in the second half of 2020.
- ORIC expects to report interim data from one of the trials in the first half of 2021 and from the other trial in the second half of 2021.
- ORIC expects to file an Investigational New Drug Application for ORIC-533 with the Food and Drug Administration in the first half of 2021.