ORIC Pharmaceuticals Q2 2020 Earnings Report
Key Takeaways
ORIC Pharmaceuticals reported its Q2 2020 financial results, highlighting the advancement of its pipeline, including ORIC-101 and ORIC-533 programs, and the licensing of ORIC-944. The company's cash position is expected to fund operations into Q4 2022.
Lead program ORIC-101 on track for multiple interim data readouts in 2021.
CD73 inhibitor ORIC-533 on track for IND filing in the first half of 2021.
Licensed exclusive worldwide development and commercialization rights to a potential best-in-class PRC2 inhibitor; IND filing expected in the second half of 2021.
Completed $138 million initial public offering.
ORIC Pharmaceuticals
ORIC Pharmaceuticals
Forward Guidance
ORIC anticipates several milestones, including selecting the Phase 2 dose for ORIC-101, reporting interim data, and filing IND applications for ORIC-533 and ORIC-944.
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 ORIC-101 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 (IND) Application for ORIC-533 with the Food and Drug Administration (FDA) in the first half of 2021.
- ORIC expects to file an IND Application for ORIC-944 with the FDA in the second half of 2021.
- The company expects its current cash and cash equivalents will be sufficient to fund its current operating plan into the fourth quarter of 2022.