Oric Pharmaceuticals

ORIC started Himalayas-1, a global Phase 3 trial enrolling about 600 patients to test rinzimetostat plus darolutamide versus an androgen receptor inhibitor or docetaxel, with radiographic progression-free survival as the primary endpoint. The company holds $387.6 million in cash and investments, which management says funds operations into the second half of 2028 and through the first pivotal readout. Quarterly R&D and G&A costs rose, widening the net loss to $41.5 million and prompting share dilution after $59.9 million raised via an at-the-market program. Market positioning shows caution, with hedge fund ownership falling and short interest at 16.83% of the float. » More on finance.yahoo.com

At the Cantor Fitzgerald healthcare conference, ORIC presented its two-drug strategy: rinzimetostat (PRC2 inhibitor) for castration-resistant prostate cancer and enosartib (brain-penetrant EGFR inhibitor) for non-small cell lung cancer. Both programs are approaching key phase III milestones; enosartib is slated to enter phase III in the first half of 2025, and HIMALAYA-1 with rinzimetostat is running globally. Management emphasized a cash balance of $388 million, which the company says funds operations into the second half of 2028, and signaled openness to partnerships or alternative financing. ORIC is monitoring Pfizer’s MEVPRO-1 study but believes differences in dosing and drug–drug interactions could bolster its own position. » More on de.investing.com

At the Wells Fargo conference, ORIC outlined its late-stage strategy focused on Rinzimetastat (prostate cancer, Phase III Himalayas-1, 600 patients, top-line data in H1 2028) and Enozertinib (lung cancer with EGFR exon-20 and atypical mutations), with particular emphasis on CNS activity. The company reported cash and equivalents of $388 million at the end of Q2, which it says funds operations into the second half of 2028, but it expects later financing needs for costly clinical trials. ORIC highlights pharmacological advantages and better tolerability of Rinzimetastat versus Pfizer’s competing program and is evaluating both standalone development and partnerships for Enozertinib. Key near-term catalysts are a Rinzimetastat update in H2 2024, an Enozertinib presentation at ESMO, and the planned start of a Phase III trial for Enozertinib in 2025. » More on de.investing.com