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Dec 31, 2024
ORIC Pharmaceuticals Q4 2024 Earnings Report
ORIC Pharmaceuticals reported its financial results for the fourth quarter and full year ended December 31, 2024, highlighting significant advancements in its clinical programs and a strengthened financial position.
Key Takeaways
ORIC Pharmaceuticals reported a net loss of $36.307 million for Q4 2024, an increase from $28.330 million in Q4 2023. The company's cash and investments totaled $256 million, expected to fund operations into late 2026. Key achievements included progress in ORIC-114 and ORIC-944 clinical trials, strategic partnerships, and successful financing.
ORIC-944 showed encouraging early safety and efficacy data in an ongoing dose escalation trial for mCRPC patients.
A clinical trial collaboration was established with Johnson & Johnson to evaluate ORIC-114 in combination with subcutaneous amivantamab for NSCLC.
The company anticipates seven data readouts across its ORIC-114 and ORIC-944 clinical programs over the next 18 months.
Cash and investments of $256 million are expected to fund the operating plan into late 2026.
Forward Guidance
ORIC Pharmaceuticals anticipates several key milestones and potential registrational trials for its clinical programs, with current cash reserves expected to support operations into late 2026.
Positive Outlook
- Expects seven data readouts across ORIC-114 and ORIC-944 clinical programs over the next 18 months.
- Potential initiation of registrational trials for ORIC-114 in 2H25 and ORIC-944 in early 2026.
- Cash and investments of $256 million are expected to fund the operating plan into late 2026.
- Anticipated 1H 2025 data readout for ORIC-114 in 2L EGFR exon 20 and 2L+ HER2 exon 20 NSCLC.
- Anticipated 4Q 2025 / 1H 2026 data readout for ORIC-944 in combination with AR inhibitors for mCRPC.
Challenges Ahead
- Actual results could differ materially due to risks associated with drug discovery, development, and commercialization.
- Clinical trial outcomes may change as patient enrollment continues or more data become available.
- Potential negative impacts from health emergencies, economic instability, or international conflicts on operations.
Historical Earnings Impact
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