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ORIC Pharmaceuticals Reports Second Quarter 2021 Financial Results and Operational Update
ORIC-101 on track for initial Phase 1b data readout in prostate cancer in 2H21 ORIC-533 IND cleared by FDA; initiation of Phase 1 trial expected in 2H21
About this update from Oric Pharmaceuticals, Inc.
[{"type":"text","content":"ORIC-101 on track for initial Phase 1b data readout in prostate cancer in 2H21 ORIC-533 IND cleared by FDA; initiation of Phase 1 trial expected in 2H21 IND/CTA filings for ORIC-944 and ORIC-114 expected in 2H21 Cash and investments of $305.9 million, expected to fund current operating plan into 2024 SOUTH SAN FRANCISCO and SAN DIEGO, Calif. , Aug. 10, 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 ended June 30, 2021. “We executed well in the first half of the year, achieving multiple milestones, including the initial data readout for ORIC-101 in combination with nab-paclitaxel in solid tumors and the clearance of the IND application for ORIC-533, our small molecule CD73 inhibitor,” said Jacob Chacko, M.D., president and chief executive officer. “In the second half of the year, we expect to present preliminary safety, pharmacokinetic, and translational data, as well as preliminary antitumor activity from our ongoing Phase 1 trial of ORIC-101 in combination with enzalutamide in prostate cancer. In addition, we look forward to dosing our first patient with ORIC-533 and to filing an IND for ORIC-944, our allosteric PRC2 inhibitor, and a CTA for ORIC-114, our brain penetrant EGFR/HER2 exon 20 inhibitor. Furthermore, the proceeds from our recent financing have bolstered our balance sheet with funding for the continued development of ORIC-101 and our other three product candidates through multiple data readouts expected in the 2022 and 2023 timeframe.” Second Quarter 2021 and Other Recent Highlights Initial ORIC-101 Clinical Data Presented at ASCO: In June 2021, ORIC presented initial clinical data from the Phase 1b trial of ORIC-101 in combination with nab-paclitaxel. The trial is a single arm, multicenter, open-label study conducted in two parts, intended to establish the recommended Phase 2 dose (RP2D), safety, pharmacokinetics, pharmacodynamics, and preliminary antitumor activity when administered to patients with advanced or metastatic solid tumors. Following the completion of the Part I dose escalation portion of the study, the RP2D was determined to be 160 mg of ORIC-101 continuous once daily dosing in combination with...