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Dec 31, 2020
ORIC Pharmaceuticals Q4 2020 Earnings Report
ORIC Pharmaceuticals reported financial results and operational updates for Q4 2020.
Key Takeaways
ORIC Pharmaceuticals reported its Q4 and full-year 2020 financial results, highlighting the progress of its pipeline, team expansion, and strengthened balance sheet. The company's lead program, ORIC-101, is on track for initial data readouts in 2021, and three IND/CTA filings are expected for ORIC-533, -944, and -114. With $293.6 million in cash, cash equivalents, and investments, ORIC expects to fund operations into the second half of 2023.
ORIC-101 is on track for two initial data readouts in 2021.
Three IND/CTA filings for ORIC-533, -944, and -114 are expected in 2021.
The company completed the Part I dose escalation portion of ORIC-101 in combination with nab-paclitaxel and enzalutamide.
Cash, cash equivalents, and investments of $293.6 million are expected to fund current operations into the second half of 2023.
Forward Guidance
ORIC anticipates several milestones in 2021, including data reports and IND/CTA filings.
Positive Outlook
- Report interim safety, efficacy, and translational data from ongoing combination trial with nab-paclitaxel in the first half of 2021 for ORIC-101
- Report interim safety, efficacy, and translational data from ongoing combination trial with enzalutamide in the second half of 2021 for ORIC-101
- File an IND in the first half of 2021 for ORIC-533
- File an IND in the second half of 2021 for ORIC-944
- File a CTA in the second half of 2021 for ORIC-114
Challenges Ahead
- Risks associated with discovering, developing, and commercializing drugs.
- Potential for clinical trials to differ from preclinical results.
- Negative impacts of the COVID-19 pandemic on operations.
- Risk of termination of license agreements.
Historical Earnings Impact
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