ORIC Reports Promising Efficacy & Safety Data From ORIC-944 Phase 1b Trial In MCRPC; Stock Up

(RTTNews) - ORIC Pharmaceuticals Inc. (ORIC) announced potentially best-in-class preliminary efficacy and safety data from the ongoing Phase 1b trial of once daily ORIC-944 in combination with androgen receptor (AR) inhibitors in patients with metastatic castration-resistant prostate cancer (mCRPC).

ORIC closed Wednesday's regular trading at $5.97 up $0.19 or 3.29%. The stock further gained $1.11 or 18.59%.

The company noted that Broad and deep PSA responses were achieved in patients with mCRPC, with a 59% PSA50 response rate (47% confirmed, with one additional response pending confirmation) and a 24% PSA90 response rate, all confirmed.

PSA responses were observed across all ORIC-944 dose levels and at comparable rates when combined with apalutamide and darolutamide. The majority of patients remain on treatment, with multiple individuals approaching one year or longer.

Both combination regimens exhibited a safety profile compatible with long-term dosing, with the vast majority of adverse events classified as Grade 1 or 2.

The company announced a concurrent $125 million private placement financing that it expects will extend cash runway into the second half of 2027 and through the anticipated primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in mCRPC. The financing is expected to close on May 29, 2025.

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