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Sep 30, 2022
ORIC Pharmaceuticals Q3 2022 Earnings Report
Reported financial results and operational updates for the quarter ended September 30, 2022.
Key Takeaways
ORIC Pharmaceuticals reported its Q3 2022 financial results, highlighting the FDA clearance of the US IND for ORIC-114 and the upcoming presentation of ORIC-533 preclinical data at the ASH Annual Meeting. The company's cash and investments are expected to fund operations into 2H 2024.
Initial Phase 1b data for ORIC-533 in multiple myeloma, ORIC-114 in EGFR/HER2-mutated cancers, and ORIC-944 in prostate cancer is expected in 1H 2023.
Clinical development of ORIC-114 was expanded with FDA clearance of US IND.
Preclinical data on ORIC-533 will be presented at the 64th American Society of Hematology (ASH) Annual Meeting.
Cash and investments of $218.0 million are expected to fund the current operating plan into 2H 2024.
Forward Guidance
ORIC anticipates initial Phase 1b data for ORIC-533, ORIC-114, and ORIC-944 in the first half of 2023.
Positive Outlook
- ORIC-533 (oral CD73 inhibitor): Initial Phase 1b data in 1H 2023
- ORIC-114 (brain penetrant EGFR/HER2 exon 20 inhibitor): Initial Phase 1b data in 1H2023
- ORIC-944 (allosteric PRC2 inhibitor): Initial Phase 1b data in 1H 2023
Historical Earnings Impact
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