ORIC Oric Pharmaceuticals Inc.

25
-0.34  -1%
Previous Close 25.34
Open 25.1
52 Week Low 18.6
52 Week High 40.81
Market Cap $917,405,400
Shares 36,696,216
Float 17,399,837
Enterprise Value $653,596,113
Volume 146,851
Av. Daily Volume 241,078
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Upcoming Catalysts

Drug Stage Catalyst Date
ORIC-101 and Abraxane (nab-paclitaxel)
Solid tumors
Phase 1b
Phase 1b
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ORIC-101 and Xtandi (enzalutamide)
Prostate cancer
Phase 1b
Phase 1b
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Drug Pipeline

Drug Stage Notes
ORIC-114
Tumors - EGFR/HER2 Exon 20 Inhibitor
Phase 1/2
Phase 1/2
Phase 1/2 trial planned.

Latest News

  1. Lead program ORIC-101 on track for two initial Phase 1b data readouts in 2021

    Three IND/CTA filings for ORIC-533, -944, and -114 expected in 2021

    SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, May 06, 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 March 31, 2021.

    "We continue to make steady progress in advancing our robust pipeline of novel oncology candidates," said Jacob Chacko, M.D., president and chief executive officer. "As planned, we will present preliminary safety, pharmacokinetic, and translational data, as well as early…

    Lead program ORIC-101 on track for two initial Phase 1b data readouts in 2021

    Three IND/CTA filings for ORIC-533, -944, and -114 expected in 2021

    SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, May 06, 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 March 31, 2021.

    "We continue to make steady progress in advancing our robust pipeline of novel oncology candidates," said Jacob Chacko, M.D., president and chief executive officer. "As planned, we will present preliminary safety, pharmacokinetic, and translational data, as well as early efficacy data from our ongoing Phase 1 trial of ORIC-101 in combination with nab-paclitaxel in solid tumors at the upcoming ASCO Annual Meeting. In addition, we expect to achieve multiple other milestones throughout the remainder of 2021, including reporting preliminary data from our second trial for ORIC-101 in combination with enzalutamide in prostate cancer, and IND/CTA filings for ORIC-533, our oral small molecule CD73 inhibitor, ORIC-944, our allosteric PRC2 inhibitor, and ORIC-114, our brain penetrant EGFR/HER2 exon 20 inhibitor."

    First Quarter 2021 and Other Recent Highlights

    • Acceptance of Two Abstracts at ASCO: Two abstracts highlighting preliminary results from the Phase 1b study of ORIC-101 in combination with nab-paclitaxel have been accepted for poster presentations during the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, to be held June 4 - 8, 2021. The ASCO presentations will highlight interim safety, pharmacokinetic, efficacy, and translational data from the ongoing Phase 1b study of ORIC-101 in combination with nab-paclitaxel.
    • Preclinical Data Presented at AACR: In April 2021, ORIC presented posters on four programs at the 2021 American Association for Cancer Research (AACR) virtual annual meeting. Key findings of the presentations included:

    ORIC-101: Glucocorticoid Receptor (GR) Antagonist

    • GR upregulation and activation, an established preclinical resistance mechanism for antiandrogens, may drive resistance when antiandrogens are combined with AKT inhibitors.
    • ORIC-101 was able to overcome this resistance and restore antitumor activity in preclinical prostate cancer cell lines.

    ORIC-533: Oral Small Molecule CD73 Inhibitor

    • Nanomolar concentrations of ORIC-533 efficiently rescued cytotoxic T-cell function in the presence of high AMP concentrations, reflective of AMP levels observed in tumors.
    • Inhibitors of adenosine receptors were only able to rescue CD8+ T-cell function in the context of low AMP, and were ineffective in moderate or high AMP levels.
    • ORIC-533 has potential best-in-class properties in inhibiting adenosine production and reversing immunosuppression in tumors.

    ORIC-944: Allosteric PRC2 Inhibitor

    • ORIC-944 has potential best-in-class drug properties compared to first generation PRC2 inhibitors, including a clean CYP profile.
    • ORIC-944 demonstrated superior activity compared to an EZH2 inhibitor in an in vivo DLBCL model.
    • ORIC-944 demonstrated strong tumor growth inhibition as a single agent with once daily oral dosing in both enzalutamide-responsive and enzalutamide-resistant in vivo prostate cancer models.

    ORIC-114: Brain Penetrant EGFR/HER2 exon 20 Inhibitor

    • ORIC-114 is highly selective for the EGFR family of receptors with superior kinome selectivity compared to other exon 20 inhibitors.
    • ORIC-114 demonstrated low nanomolar potency across exon 20 insertion variants in biochemical and cell-based assays.
    • Significant tumor regression was observed in multiple EGFR exon 20 patient-derived xenograft models using once daily oral administration of ORIC-114.
    • ORIC-114 displayed superior brain exposure relative to other compounds targeting exon 20 insertion mutations, and greater activity compared to other EGFR inhibitors in an intracranial NSCLC EGFR mutant xenograft model.

    Anticipated Milestones

    • ORIC anticipates the following milestones in 2021:
      • ORIC-101: Report interim safety, efficacy, and translational data from ongoing combination trial with nab-paclitaxel at ASCO
      • ORIC-101: Report interim safety, efficacy, and translational data from ongoing combination trial with enzalutamide in the second half of 2021
      • ORIC-533: File an IND in the second quarter of 2021
      • ORIC-944: File an IND in the second half of 2021
      • ORIC-114: File a CTA in the second half of 2021
      • Present additional preclinical data at scientific conferences in 2021

    First Quarter 2021 Financial Results

    • Cash, Cash Equivalents and Short-term Investments: Cash, cash equivalents, and short-term investments totaled $278.1 million as of March 31, 2021. The company expects its current cash, cash equivalents, and short-term investments will be sufficient to fund its current operating plan into the second half of 2023.
    • R&D Expenses: Research and development expenses were $11.7 million for the three months ended March 31, 2021, compared to $7.3 million for the three months ended March 31, 2020, an increase of $4.4 million. The increase was primarily driven by an increase in external expenses related to the advancement of ORIC-101 and our other product candidates of $3.6 million, as well as higher personnel costs, including additional non-cash stock-based compensation of $0.8 million for the three months ended March 31, 2021, as compared to the same period in 2020.
    • G&A Expenses: General and administrative expenses were $4.9 million for the three months ended March 31, 2021, compared to $1.9 million for the three months ended March 31, 2020, an increase of $3.0 million. The increase was primarily due to higher personnel costs, including additional non-cash stock-based compensation of $1.4 million for the three months ended March 31, 2021, as compared to the same period in 2020, and higher professional services and related costs to operate as a public company.

    About ORIC Pharmaceuticals, Inc.

    ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com, and follow us on Twitter or LinkedIn.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding ORIC's development plans and timelines; the potential advantages of ORIC's product candidates and programs; plans underlying ORIC-101 clinical trials and development; the expected timing of reporting interim data from the ORIC-101 clinical trials; plans underlying ORIC-533, ORIC-944, ORIC-114 or any other programs; the planned IND filings for ORIC-533 and ORIC-944 and CTA filing for ORIC-114; ORIC's anticipated 2021 milestones; the period over which ORIC estimates its existing cash, cash equivalents and short-term investments will be sufficient to fund its current operating plan; and statements by the company's president and chief executive officer. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC's ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC's plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-101, ORIC-533, ORIC-944, ORIC-114 or any other product candidates to differ from preclinical, interim, preliminary or expected results; negative impacts of the COVID-19 pandemic on ORIC's operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC's license agreements; ORIC's ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC's reliance on third parties, including contract manufacturers and contract research organizations; ORIC's ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled "Risk Factors" in ORIC's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 6, 2021, and ORIC's future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

    Contact:

    Dominic Piscitelli, Chief Financial Officer





    ORIC PHARMACEUTICALS, INC.

    CONDENSED BALANCE SHEETS

    (in thousands, except share and per share amounts)

     March 31, 2021 December 31, 2020
     (unaudited)  
    Assets
    Current assets:   
    Cash, cash equivalents and short-term investments$278,141 $293,600
    Prepaid expenses and other current assets 1,960  3,097
    Total current assets 280,101  296,697
        
    Property and equipment, net 1,969  1,981
    Other assets 1,890  319
    Total assets$283,960 $298,997
        
    Liabilities and Stockholders' Equity
        
    Current liabilities:   
    Accounts payable$606 $757
    Accrued liabilities 7,070  8,245
    Total current liabilities 7,676  9,002
        
    Other long-term liabilities 209  219
    Total liabilities 7,885  9,221
        
    Total stockholders' equity 276,075  289,776
    Total liabilities and stockholders' equity$283,960 $298,997
        





    ORIC PHARMACEUTICALS, INC.

    STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (Unaudited)

    (in thousands, except share and per share amounts)

     Three Months Ended March 31, 
     2021  2020 
    Operating expenses:       
    Research and development$11,697  $7,254 
    General and administrative 4,856   1,925 
    Total operating expenses 16,553   9,179 
    Loss from operations (16,553)  (9,179)
            
    Other income:       
    Interest income, net 44   241 
    Other income    66 
    Total other income 44   307 
    Net loss$(16,509) $(8,872)
    Other comprehensive loss:       
    Unrealized gain on available-for-sale securities 48    
    Comprehensive loss$(16,461) $(8,872)
    Net loss per share, basic and diluted$(0.45) $(4.46)
    Weighted-average shares outstanding, basic and diluted 36,679,684   1,988,861 



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  2. SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, April 28, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced that two abstracts highlighting preliminary results from the Phase 1b study of ORIC-101 in combination with nab-paclitaxel have been accepted for poster presentations during the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, to be held June 4 - 8, 2021.

    "We are pleased to participate in the 2021 ASCO program and report initial data from the ongoing Phase 1b study of ORIC-101, our glucocorticoid receptor antagonist, in combination with nab-paclitaxel in patients with advanced…

    SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, April 28, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced that two abstracts highlighting preliminary results from the Phase 1b study of ORIC-101 in combination with nab-paclitaxel have been accepted for poster presentations during the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, to be held June 4 - 8, 2021.

    "We are pleased to participate in the 2021 ASCO program and report initial data from the ongoing Phase 1b study of ORIC-101, our glucocorticoid receptor antagonist, in combination with nab-paclitaxel in patients with advanced solid tumors," said Jacob Chacko, M.D., president and chief executive officer. "This represents the first of two data readouts from our two ongoing Phase 1b trials of ORIC-101. We expect to report initial data from the second trial, ORIC-101 in combination with enzalutamide in prostate cancer, in the second half of this year."

    Poster Presentations:

    Presentation Title: Initial results from a Phase 1b study of ORIC-101, a glucocorticoid receptor antagonist, in combination with nab-paclitaxel in patients with advanced solid tumors

    Date and Time (On-Demand): June 4, 2021 (6:00 am PT)

    Abstract Number: 2553

    Presentation Title: Biomarker results supporting selection of RP2D from a Phase 1b study of ORIC-101, a glucocorticoid receptor antagonist, in combination with nab-paclitaxel in patients with advanced solid tumors

    Date and Time (On-Demand): June 4, 2021 (6:00 am PT)

    Abstract Number: 3110

    The posters will be available at www.oricpharma.com/publications following presentation at the meeting.

    About ORIC Pharmaceuticals, Inc.

    ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com, and follow us on Twitter or LinkedIn.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the expected timing of reporting initial data and biomarker results from the ORIC-101 clinical trial in combination with nab-paclitaxel and the initial data from the ORIC-101 clinical trial in combination with enzalutamide, and statements by the company's president and chief executive officer. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC's ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC's plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-101, ORIC-533, ORIC-944, ORIC-114 or any other product candidates to differ from preclinical, interim, preliminary or expected results; negative impacts of the COVID-19 pandemic on ORIC's operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC's license agreements; ORIC's ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC's reliance on third parties, including contract manufacturers and contract research organizations; ORIC's ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled "Risk Factors" in ORIC's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 23, 2021, and ORIC's future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

    Contact:

    Dominic Piscitelli, Chief Financial Officer





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  3. SOUTH SAN FRANCISCO and SAN DIEGO, April 12, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of resistance in cancer, presented four preclinical poster presentations at the 2021 American Association for Cancer Research (AACR) virtual annual meeting.

    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.

    Key findings of the presentation:

    • GR upregulation and activation…

    SOUTH SAN FRANCISCO and SAN DIEGO, April 12, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of resistance in cancer, presented four preclinical poster presentations at the 2021 American Association for Cancer Research (AACR) virtual annual meeting.

    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.

    Key findings of the presentation:

    • GR upregulation and activation, an established resistance mechanism for antiandrogens, may drive resistance when antiandrogens are combined with AKT inhibitors.
    • ORIC-101 was able to overcome this resistance and restore antitumor activity in preclinical prostate cancer cell lines.

    Poster Presentation:

    ORIC-533: CD73 Inhibitor

    ORIC-533 is a highly potent, orally bioavailable CD73 inhibitor and has demonstrated greater potency in preclinical studies compared to an antibody approach and other small molecule CD73 inhibitors.

    Key findings of the presentation:

    • Nanomolar concentrations of ORIC-533 efficiently rescued cytotoxic T-cell function in the presence of high AMP concentrations, reflective of levels observed in tumors.
    • Inhibitors of adenosine receptors A2A or A2A/B were only able to rescue CD8+ T-cell function in the context of low micromolar AMP, thus may be ineffective in tumors with moderate or high AMP and adenosine levels.
    • ORIC-533 has potential best-in-class properties in reversing immunosuppression in tumors.

    Poster Presentation:

    ORIC-944: PRC2 Inhibitor  

    ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 (PRC2) and targets its regulatory embryonic ectoderm development (EED) subunit.

    Key findings of the presentation:

    • ORIC-944 has potential best-in-class drug properties compared to first generation PRC2 inhibitors, including a clean CYP profile.
    • ORIC-944 demonstrated superior activity compared to an EZH2 inhibitor in an in vivo DLBCL model.
    • ORIC-944 demonstrated strong tumor growth inhibition as a single agent with once daily dosing in both enzalutamide-responsive and enzalutamide-resistant in vivo prostate cancer models.

    Poster Presentation:

    ORIC-114: EGFR/HER2 Inhibitor

    ORIC-114 is a brain penetrant, orally bioavailable, irreversible inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations.

    Key findings of the presentation:

    • ORIC-114 is highly selective for the EGFR family of receptors with superior kinome selectivity compared to other exon 20 inhibitors.
    • ORIC-114 demonstrated low nanomolar potency across exon 20 insertion variants in biochemical and cell-based assays.  
    • Significant tumor regression was observed in multiple EGFR exon 20 patient-derived xenograft models using once daily oral administration of ORIC-114.
    • ORIC-114 displayed superior brain exposure relative to other compounds targeting exon 20 insertion mutations, and greater activity compared to other EGFR inhibitors in an intracranial NSCLC EGFR mutant xenograft model.

    Poster Presentation:

    About ORIC Pharmaceuticals, Inc.

    ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the potential advantages of ORIC's product candidates and programs, including potential best-in-class differentiation; and plans underlying ORIC-101, ORIC-533, ORIC-944, ORIC-114 or any other programs. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC's ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC's plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-101 or any other product candidates to differ from preclinical, preliminary or expected results; negative impacts of the COVID-19 pandemic on ORIC's operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC's license agreements; ORIC's ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC's reliance on third parties, including contract manufacturers and contract research organizations; ORIC's ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled "Risk Factors" in ORIC's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 23, 2021, and ORIC's future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

    Investor Contact:

    Dominic Piscitelli, Chief Financial Officer



     



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  4. 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…

    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 bioavailable CD73 inhibitor and has demonstrated more potent adenosine inhibition in preclinical studies compared to an antibody approach and other small molecule CD73 inhibitors.

    • Conducted a preclinical collaboration with an academic key opinion leader that generated compelling single agent activity in patient derived model systems in an undisclosed tumor type. The company plans to pursue a single agent clinical development path in this indication.
    • ORIC-533 continues to progress in Investigational New Drug (IND) enabling studies and the company expects to file an IND with the Food and Drug Administration (FDA) in the first half of 2021.

    ORIC-944: PRC2 Inhibitor

    ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 (PRC2) that targets its regulatory embryonic ectoderm development (EED) subunit and has demonstrated single agent efficacy in multiple enzalutamide-resistant prostate cancer models in preclinical studies.

    • Licensed exclusive worldwide development and commercialization rights from Mirati Therapeutics, Inc. in August 2020.
    • ORIC-944 continues to progress in IND enabling studies and the company expects to file an IND with the FDA in the second half of 2021, with initial clinical development as a single agent in treatment-resistant prostate cancer.

    ORIC-114: EGFR/HER2 Inhibitor

    ORIC-114 is a brain penetrant, orally bioavailable, irreversible inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations.

    • Licensed exclusive development and commercialization rights worldwide excluding the People's Republic of China, Hong Kong, Macau and Taiwan from Voronoi, Inc. in October 2020.
    • ORIC-114 continues to progress in IND enabling studies and the company expects to file a Clinical Trial Application (CTA) in South Korea in the second half of 2021.

    Corporate:

    • The company completed a public offering of common stock in November 2020, raising gross proceeds of $133.3 million.

    Anticipated Milestones

    • ORIC anticipates the following milestones in 2021:
      • ORIC-101: Report interim safety, efficacy, and translational data from ongoing combination trial with nab-paclitaxel in the first half of 2021
      • ORIC-101: Report interim safety, efficacy, and translational data from ongoing combination trial with enzalutamide in the second half of 2021
      • ORIC-533: File an IND in the first half of 2021
      • ORIC-944: File an IND in the second half of 2021
      • ORIC-114: File a CTA in the second half of 2021
      • Present additional preclinical and translational research data on ORIC-101, ORIC-533, ORIC-944, and ORIC-114 at scientific conferences in 2021

    Fourth Quarter and Full year 2020 Financial Results

    • Cash, Cash Equivalents and Short-term Investments: Cash, cash equivalents and short-term investments totaled $293.6 million as of December 31, 2020, which included gross proceeds of $133.3 million from the follow-on financing completed in November 2020. The company expects its current cash, cash equivalents and short-term investments will be sufficient to fund its current operating plan into the second half of 2023.



    • R&D Expenses: Research and development (R&D) expenses were $12.1 million for the three months ended December 31, 2020, compared to $7.0 million for the three months ended December 31, 2019, an increase of $5.1 million. For the year ended December 31, 2020, R&D expenses were $35.9 million compared to $22.8 million for the same period of 2019, an increase of $13.1 million. The increases for the 2020 periods were primarily driven by an increase in external expenses related to the advancement of ORIC-101, ORIC-533 and exploratory research programs, as well as higher personnel costs, including additional non-cash stock-based compensation of $0.4 million and $1.5 million for the three and twelve months ended December 31, 2020, as compared to the same periods in 2019, respectively.



    • IPR&D Expenses: In-process research and development (IPR&D) expenses of $11.9 million and $24.8 million for the three and twelve months ended December 31, 2020 related to charges the company recorded for the cash payment and fair value of common stock shares issued to Mirati and Voronoi for the development and commercialization rights to ORIC-944 and ORIC-114. There were no similar costs incurred in 2019.



    • G&A Expenses: General and administrative (G&A) expenses were $4.3 million for the three months ended December 31, 2020, compared to $1.8 million for the three months ended December 31, 2019, an increase of $2.5 million. For the year ended December 31, 2020, G&A expenses were $13.4 million compared to $5.7 million for the same period in 2019, an increase of $7.7 million. These increases were primarily due to higher personnel costs, including additional non-cash stock-based compensation of $0.9 million and $2.7 million for the three and twelve months ended December 31, 2020, as compared to the same periods in 2019, respectively, higher professional services and related costs to operate as a public company.

    About ORIC Pharmaceuticals, Inc.

    ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com, and follow us on Twitter or LinkedIn.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding ORIC's development plans and timelines; the potential advantages of ORIC's product candidates and programs; plans underlying ORIC-101 clinical trials and development; the expected timing of reporting interim data from the ORIC-101 clinical trials; plans underlying ORIC-533, ORIC-944, ORIC-114 or any other programs; the planned IND filings for ORIC-533 and ORIC-944 and CTA filing for ORIC-114; ORIC's anticipated 2021 milestones; the period over which ORIC estimates its existing cash, cash equivalents and short-term investments will be sufficient to fund its current operating plan; and statements by the company's president and chief executive officer. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC's ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC's plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-101, ORIC-533, ORIC-944, ORIC-114 or any other product candidates to differ from preclinical, interim, preliminary or expected results; negative impacts of the COVID-19 pandemic on ORIC's operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC's license agreements; ORIC's ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC's reliance on third parties, including contract manufacturers and contract research organizations; ORIC's ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled "Risk Factors" in ORIC's Quarterly Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 23, 2021, and ORIC's future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

    Contact:

    Dominic Piscitelli, Chief Financial Officer



    ORIC PHARMACEUTICALS, INC.

    CONDENSED BALANCE SHEETS

    (in thousands, except share and per share amounts)

     December 31, 
     2020  2019 
            
    Assets 
    Current assets:       
    Cash, cash equivalents and short-term investments$293,600  $89,159 
    Prepaid expenses and other current assets 3,097   840 
    Total current assets 296,697   89,999 
            
    Property and equipment, net 1,981   2,241 
    Other assets 319   1,853 
    Total assets$298,997  $94,093 
            
    Liabilities, Convertible Preferred Stock and Stockholders' Equity (Deficit) 
            
    Current liabilities:       
    Accounts payable$757  $152 
    Accrued liabilities 8,245   5,202 
    Total current liabilities 9,002   5,354 
            
    Deferred rent - long term 219   765 
    Total liabilities 9,221   6,119 
            
    Convertible preferred stock    178,058 
    Total stockholders' equity (deficit) 289,776   (90,084)
    Total liabilities, convertible preferred stock and stockholders' equity (deficit)$298,997  $94,093 

    ORIC PHARMACEUTICALS, INC.

    STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (Unaudited)

    (in thousands, except share and per share amounts)

     Three Months Ended December 31,  Twelve Months Ended December 31, 
     2020  2019  2020  2019 
                    
    Operating Expenses:               
    Research and development$12,113  $6,960  $35,921  $22,844 
    Acquired in-process research and development 11,872      24,843    
    General and administrative 4,297   1,811   13,422   5,725 
    Total operating expenses 28,282   8,771   74,186   28,569 
    Loss from operations (28,282)  (8,771)  (74,186)  (28,569)
    Other Income:               
    Interest income, net 30   343   306   1,397 
    Other income (7)  74   177   289 
    Total other income 23   417   483   1,686 
    Net loss$(28,259) $(8,354) $(73,703) $(26,883)
    Other comprehensive loss:               
    Unrealized loss on available-for-sale securities (2)     (31)   
    Comprehensive loss$(28,261) $(8,354) $(73,734) $(26,883)
    Net loss per share, basic and diluted$(0.84) $(4.27) $(3.36) $(14.15)
    Weighted-average shares outstanding, basic and diluted 33,618,477   1,958,644   21,942,476   1,899,348 



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  5. SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, March 10, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of resistance in cancer, today announced four preclinical poster presentations at the 2021 American Association for Cancer Research (AACR) virtual annual meeting on April 10-15, 2021.

    "We are pleased to present these compelling preclinical data on our four product candidates, which continue to validate our scientific platform focused on overcoming resistance in cancer," said Lori Friedman, chief scientific officer. "In particular, we are encouraged to see our lead program ORIC-101 reversing GR-mediated resistance in a variety of…

    SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, March 10, 2021 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of resistance in cancer, today announced four preclinical poster presentations at the 2021 American Association for Cancer Research (AACR) virtual annual meeting on April 10-15, 2021.

    "We are pleased to present these compelling preclinical data on our four product candidates, which continue to validate our scientific platform focused on overcoming resistance in cancer," said Lori Friedman, chief scientific officer. "In particular, we are encouraged to see our lead program ORIC-101 reversing GR-mediated resistance in a variety of tumor models and contexts. Furthermore, ORIC-533, ORIC-944 and ORIC-114 each continue to show mounting evidence of potential best-in-class differentiation. We look forward to the continued advancements of these programs and our discovery research pipeline as we work to improve the lives of patients with cancer."

    ORIC-101: Glucocorticoid Receptor (GR) Antagonist

    Title: GR antagonist ORIC-101 overcomes GR-mediated resistance to the combination of AR and AKT inhibition in preclinical prostate cancer cell lines

    Date: Poster release on April 10, 2021

    Session: Reversal of Drug Resistance

    Abstract: 1420

    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. It has previously been demonstrated that ORIC-101 reverses GR-mediated resistance to enzalutamide and to AR degraders in preclinical prostate cancer cell lines. This preclinical study evaluated whether activated GR confers resistance to the combination of AKT inhibitors with enzalutamide and whether co-treatment with ORIC-101 reverses GR-mediated resistance to the combination. It was observed that GR upregulation and activation, an established resistance mechanism for antiandrogens, may drive resistance when antiandrogens are combined with AKT inhibitors, and our data demonstrated that ORIC-101 was able to overcome this resistance and restore antitumor activity.

    ORIC-533: CD73 Inhibitor

    Title: Blocking adenosine production with ORIC-533, a CD73 inhibitor with best-in-class properties, reverses immunosuppression in high-AMP environments

    Date: Poster release on April 10, 2021

    Session: Modifiers of the Tumor Microenvironment

    Abstract: LB-163

    ORIC-533 is a highly potent, orally bioavailable CD73 inhibitor and has demonstrated greater potency in preclinical studies compared to an antibody approach and other small molecule CD73 inhibitors. In these studies, nanomolar concentrations of ORIC-533 efficiently rescued cytotoxic T-cell function in the presence of high AMP concentrations, reflective of levels observed in tumors. Additionally, inhibitors of adenosine receptors A2A or A2A/B were only able to rescue CD8+ T-cell function in the context of low micromolar AMP, thus may be ineffective in tumors with moderate or high AMP and adenosine levels. These preclinical results indicate that ORIC-533 has potential best-in-class properties in reversing immunosuppression in tumors.

    ORIC-944: PRC2 Inhibitor

    Title: ORIC-944, a potent and selective allosteric PRC2 inhibitor, demonstrates robust in vivo activity in prostate cancer models

    Date: Poster release on April 10, 2021

    Session: Epigenetic Targets

    Abstract: 1131

    ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 (PRC2) and targets its regulatory embryonic ectoderm development (EED) subunit. The unique EED targeting strategy may more completely inhibit PRC2, and may address certain resistance mutations in EZH2 and the possible compensatory escape mechanism of EZH1. ORIC-944 has potential best-in-class drug properties compared to first generation PRC2 inhibitors, and superior in vivo efficacy was observed when compared to tazemetostat in a DLBCL model. In prostate cancer, ORIC-944 demonstrated strong tumor growth inhibition as a single agent with once daily dosing in both enzalutamide-responsive and enzalutamide-resistant models.

    ORIC-114: EGFR/HER2 Inhibitor

    Title: ORIC-114, a brain penetrant, orally bioavailable, irreversible inhibitor selectively targets EGFR and HER2 exon20 insertion mutants and regresses intracranial NSCLC xenograft tumors

    Date: Poster release on April 10, 2021

    Session: Tyrosine Kinase and Phosphatase Inhibitors

    Abstract: 1466

    ORIC-114 is a brain penetrant, orally bioavailable, irreversible inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations. Assessment of kinase panels showed ORIC-114 is highly selective to the EGFR family of receptors, with superior kinome selectivity compared to other exon 20 inhibitors. ORIC-114 also demonstrated low nanomolar potency across exon 20 insertion variants in biochemical and cell-based assays. Regressions were observed in multiple EGFR exon 20 patient-derived xenograft models using once daily oral administration. Importantly, ORIC-114 displayed superior brain exposure relative to other compounds targeting exon 20 and significantly regressed established EGFR-driven intracranial NSCLC tumors, commensurate with the superior brain exposure of ORIC-114.

    About ORIC Pharmaceuticals, Inc.

    ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the potential advantages of ORIC's product candidates and programs, including potential best-in-class differentiation; plans underlying ORIC-101, ORIC-533, ORIC-944, ORIC-114 or any other programs; and statements by the company's chief scientific officer. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC's ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC's plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC-101 or any other product candidates to differ from preclinical, preliminary or expected results; negative impacts of the COVID-19 pandemic on ORIC's operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC's license agreements; ORIC's ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC's reliance on third parties, including contract manufacturers and contract research organizations; ORIC's ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled "Risk Factors" in ORIC's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 5, 2020, and ORIC's future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

    Investor Contact:

    Dominic Piscitelli, Chief Financial Officer





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