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Jun 30, 2024

ORIC Pharmaceuticals Q2 2024 Earnings Report

ORIC Pharmaceuticals reported financial results and provided operational updates for Q2 2024.

Key Takeaways

ORIC Pharmaceuticals reported cash and investments of $308.5 million, which is expected to fund operating plan into late 2026. The company is advancing its pipeline with ORIC-114 and ORIC-944, and expanded its leadership team.

Initiated dosing of ORIC-944 in combinations with NUBEQA® and ERLEADA® in the ongoing Phase 1b trial for prostate cancer.

Entered into clinical trial collaboration and supply agreements with Bayer and Johnson & Johnson to support the ongoing Phase 1b trial of ORIC-944 in combination with NUBEQA® and ERLEADA®.

Expanded leadership team with the appointment of Keith Lui as Senior Vice President of Commercial and Medical Affairs.

Cash and investments of $308.5 million expected to fund operating plan into late 2026.

Total Revenue
$0
EPS
-$0.45
Previous year: -$0.5
-10.0%
R&D Expenses
$28.9M
Previous year: $18.8M
+54.0%
G&A Expenses
$7.08M
Previous year: $6.21M
+14.1%
Gross Profit
-$272K
Cash and Equivalents
$286M
Previous year: $264M
+8.4%
Free Cash Flow
-$26M
Previous year: -$21.6M
+20.5%
Total Assets
$329M
Previous year: $292M
+12.7%

ORIC Pharmaceuticals

ORIC Pharmaceuticals

Forward Guidance

ORIC Pharmaceuticals anticipates sharing further clinical updates in 2025 and expects cash and investments of $308.5 million to fund its operating plan into late 2026.