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Dec 31, 2023
ORIC Pharmaceuticals Q4 2023 Earnings Report
ORIC Pharmaceuticals reported financial results and operational updates for Q4 2023.
Key Takeaways
ORIC Pharmaceuticals reported a net loss of $28.33 million for the fourth quarter of 2023. The company's cash, cash equivalents, and investments totaled $235.0 million as of December 31, 2023, which is expected to fund the operating plan into late 2026.
Presented initial Phase 1b data from three clinical programs, supporting potential best-in-class profiles for ORIC-944 and ORIC-114.
Expect to initiate a combination study of ORIC-944 with AR inhibitor(s) in metastatic prostate cancer in the first half of 2024.
Expect to initiate multiple dose expansion cohorts for ORIC-114 in patients with mutated NSCLC in the first half of 2024.
Strengthened cash position with $210 million from two private placement financings.
Forward Guidance
ORIC Pharmaceuticals plans to advance two programs towards the initiation of registrational studies in the second half of 2025.
Positive Outlook
- Initiate combination study of ORIC-944 with AR inhibitor(s) in metastatic prostate cancer expected in first half of 2024.
- Provide a program update for ORIC-944 in mid-2024.
- Initiate multiple dose expansion cohorts for ORIC-114 in patients with mutated NSCLC expected in first half of 2024.
- Report updated Phase 1b data for ORIC-114 in the first half of 2025.
- Complete dose escalation for the Phase 1b trial of ORIC-533 in the first quarter of 2024.
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