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Jun 30, 2020
ORIC Pharmaceuticals Q2 2020 Earnings Report
Reported financial results and provided operational update for the second quarter of 2020.
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.
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.
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