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Mar 31, 2020
ORIC Pharmaceuticals Q1 2020 Earnings Report
ORIC Pharmaceuticals reported financial results for the quarter ended March 31, 2020.
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.