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Jun 30, 2021
ORIC Pharmaceuticals Q2 2021 Earnings Report
ORIC Pharmaceuticals reported financial results and operational updates for Q2 2021.
Key Takeaways
ORIC Pharmaceuticals reported its Q2 2021 financial results, highlighting the initial data readout for ORIC-101 in combination with nab-paclitaxel and the FDA clearance of the IND application for ORIC-533. The company's cash and investments totaled $305.9 million, expected to fund operations into 2024.
Initial ORIC-101 clinical data was presented at ASCO.
ORIC-533 IND was cleared by the FDA.
Preclinical data was presented at AACR.
The company raised gross proceeds of $50.0 million through the sale of approximately 2.6 million shares under its ATM offering.
Forward Guidance
ORIC anticipates several milestones in the second half of 2021 related to its clinical programs.
Positive Outlook
- Report interim data from ORIC-101 combination trial with enzalutamide.
- Initiate Phase 1 study for ORIC-533.
- File IND for ORIC-944.
- File CTA for ORIC-114.
- Present additional preclinical data at scientific conferences.
Historical Earnings Impact
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