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Sep 30, 2020
ORIC Pharmaceuticals Q3 2020 Earnings Report
ORIC Pharmaceuticals reported financial results for the third quarter of 2020 and provided an operational update.
Key Takeaways
ORIC Pharmaceuticals reported its Q3 2020 financial results, highlighting the expansion of its precision oncology pipeline through in-licensing agreements and the advancement of its lead program, ORIC-101, towards multiple interim data readouts in 2021. The company also anticipates filing IND/CTAs for ORIC-533, ORIC-944, and ORIC-114 in 2021. Cash, cash equivalents and marketable securities totaled $186.6 million as of September 30, 2020.
Expanded precision oncology pipeline through in-licensing of allosteric PRC2 inhibitor program and brain penetrant EGFR and HER2 exon 20 inhibitor program.
Lead program ORIC-101 on track for multiple interim data readouts in 2021.
Expect to file IND/CTAs for ORIC-533, ORIC-944 and ORIC-114 in 2021.
Licensed Exclusive Rights to EGFR/HER2 Exon 20 Inhibitor Program, ORIC-114 and Licensed Exclusive Worldwide Rights to PRC2 Inhibitor, ORIC-944
Forward Guidance
ORIC Pharmaceuticals anticipates several milestones, including selecting the recommended Phase 2 dose for its ORIC-101 combination trials, reporting interim data from these trials, filing an IND application for ORIC-533, filing an IND application for ORIC-944, and filing a CTA and initiating a global Phase 1/2 tumor-agnostic trial for ORIC-114.
Positive Outlook
- Select the recommended Phase 2 dose for its two ongoing ORIC-101 combination trials in the second half of 2020 and to report interim data from one of the trials in the first half of 2021 and from the other trial in the second half of 2021.
- File an Investigational New Drug (IND) Application for ORIC-533 with the Food and Drug Administration (FDA) in the first half of 2021.
- File an IND Application for ORIC-944 with the FDA in the second half of 2021.
- File a CTA and initiate a global Phase 1/2 tumor-agnostic trial in genetically defined cancers for ORIC-114 in the second half of 2021.
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