Business
ORIC Pharmaceuticals Reports Fourth Quarter and Full Year 2020 Financial Results and Operational Update
Lead program ORIC-101 on track for two initial data readouts in 2021 Three IND/CTA filings for ORIC-533, -944, and -114 expected in 2021 Cash, Cash
About this update from Oric Pharmaceuticals, Inc.
[{"type":"text","content":"Lead program ORIC-101 on track for two initial data readouts in 2021 Three IND/CTA filings for ORIC-533, -944, and -114 expected in 2021 Cash, Cash Equivalents and Investments of $293.6 million expected to fund current operations into second half of 2023 SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, March 23, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today reported financial results and operational updates for the quarter and year ended December 31, 2020. “2020 was a transformational year for ORIC during which we significantly grew and advanced our pipeline, expanded the team, and strengthened the balance sheet,” said Jacob Chacko, M.D., president and chief executive officer. “The progress we made in 2020 has positioned us for a dynamic 2021, with our first data from two ongoing trials of our lead program ORIC-101 and three IND/CTAs for our other product candidates, a significant amount of development activity for a company at our stage.” Fourth Quarter 2020 and Other Recent Highlights ORIC-101: Glucocorticoid Receptor (GR) Antagonist ORIC-101 is a potent and selective GR antagonist, with two distinct mechanisms of action being evaluated in two Phase 1b trials in combination with: (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. Completed the Part I dose escalation portion of ORIC-101 in combination with nab-paclitaxel in solid tumors, selected the recommended Phase 2 dose (RP2D), and initiated the Part II dose expansion portion of the trial. The company expects to report interim safety, efficacy, and translational data from this trial in the first half of 2021.Completed the Part I dose escalation portion of ORIC-101 in combination with enzalutamide in metastatic prostate cancer, selected the RP2D, and initiated the Part II dose expansion portion of the trial. The company expects to report interim safety, efficacy, and translational data from this trial in the second half of 2021.Presented preclinical data at the 32nd EORTC-NCI-AACR Symposium 2020 that demonstrated ORIC-101 reversed GR-mediated resistance to an androgen receptor (AR) degrader. ORIC-533: CD73 Inhibitor ORIC-533 is a highly potent, orally bioavai...