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Jun 30, 2023
ORIC Pharmaceuticals Q2 2023 Earnings Report
Reported financial results and operational updates for the second quarter of 2023.
Key Takeaways
ORIC Pharmaceuticals reported its second quarter 2023 financial results, highlighting steady enrollment in its three clinical trials and the completion of an $85 million private placement financing, ending the quarter with $273.7 million in cash and investments.
Strengthened cash position with $85 million private placement financing.
Initial Phase 1b clinical data for ORIC-114 in EGFR/HER2-mutated cancers to be presented at the ESMO Congress in October 2023.
Initial Phase 1b clinical data expected for ORIC-533 in multiple myeloma in fourth quarter of 2023 and ORIC-944 in prostate cancer in first quarter of 2024.
Ended the quarter with cash and investments of $273.7 million, expected to fund operating plan into late 2025.
Forward Guidance
The company expects that the cash, cash equivalents and investments of $273.7 million as of June 30, 2023 will be sufficient to fund its current operating plan into late 2025.
Historical Earnings Impact
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