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ORIC Pharmaceuticals (ORIC) Up on Collaboration With Bayer & JNJ
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ORIC Pharmaceuticals, Inc. (ORIC - Free Report) announced that it has collaborated with pharma giants Bayer (BAYRY - Free Report) and Janssen Research & Development, LLC, a Johnson & Johnson (JNJ - Free Report) company, to support its ongoing study evaluating pipeline candidate ORIC-944.
ORIC will evaluate ORIC-944 in combination with Bayer’s Nubeqa (darolutamide), an androgen receptor (AR) inhibitor, and Johnson & Johnson’s AR inhibitor Erleada (apalutamide).
ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 (PRC2). ORIC initiated dosing of ORIC-944, in combination with darolutamide as well as apalutamide, in the first half of 2024 as part of the ongoing phase Ib trial in patients with metastatic prostate cancer.
Each combination cohort includes a dose escalation and expansion portion, evaluating the combination of ORIC-944 and Nubeqa or ORIC-944 and Erleada.
Per the terms of the collaborations, ORIC will continue to conduct and sponsor the ongoing phase Ib trial. Bayer and Johnson & Johnson will provide darolutamide and apalutamide, respectively, for the study. ORIC maintains full global development and commercial rights to ORIC-944.
Shares of ORIC were up in after-market trading on Jul 16, following the announcement. Shares were up in pre-market trading as well.
Year to date, the stock has gained 18.3% against the industry’s decline of 1%.
Image Source: Zacks Investment Research
ORIC-944 was initially evaluated as a single agent in a phase Ib trial in patients with advanced prostate cancer wherein it demonstrated potential best-in-class drug properties, including clinical half-life of approximately 20 hours, robust target engagement and a favorable safety profile.
ORIC’s portfolio currently does not have any approved product. Hence, in the absence of a marketed product, pipeline development remains in focus.
The company’s pipeline includes 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.
ORIC had earlier announced the completion of the dose escalation portion of the phase Ib study of ORIC-114 and the selection of the provisional recommended phase II doses.
Another candidate in the pipeline is ORIC-533. ORIC is currently completing a phase Ib study on the candidate and plans to pursue a strategic partnership for combination studies.
The company has also strengthened its cash position with a $125-million private placement financing from new and existing healthcare specialist funds in January 2024. As of Mar 31, 2024, cash, cash equivalents and investments totaled $331.5 million. ORIC expects the current cash balance to be sufficient to fund its operating plans into late 2026.
Entrada’s loss per share estimate for 2024 has narrowed from 27 cents to 13 cents in the past 60 days, and the same for 2025 has narrowed from $3.44 to $3.21 in the past 30 days.
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ORIC Pharmaceuticals (ORIC) Up on Collaboration With Bayer & JNJ
ORIC Pharmaceuticals, Inc. (ORIC - Free Report) announced that it has collaborated with pharma giants Bayer (BAYRY - Free Report) and Janssen Research & Development, LLC, a Johnson & Johnson (JNJ - Free Report) company, to support its ongoing study evaluating pipeline candidate ORIC-944.
ORIC will evaluate ORIC-944 in combination with Bayer’s Nubeqa (darolutamide), an androgen receptor (AR) inhibitor, and Johnson & Johnson’s AR inhibitor Erleada (apalutamide).
ORIC-944 is a potent and selective allosteric inhibitor of polycomb repressive complex 2 (PRC2). ORIC initiated dosing of ORIC-944, in combination with darolutamide as well as apalutamide, in the first half of 2024 as part of the ongoing phase Ib trial in patients with metastatic prostate cancer.
Each combination cohort includes a dose escalation and expansion portion, evaluating the combination of ORIC-944 and Nubeqa or ORIC-944 and Erleada.
Per the terms of the collaborations, ORIC will continue to conduct and sponsor the ongoing phase Ib trial. Bayer and Johnson & Johnson will provide darolutamide and apalutamide, respectively, for the study. ORIC maintains full global development and commercial rights to ORIC-944.
Shares of ORIC were up in after-market trading on Jul 16, following the announcement. Shares were up in pre-market trading as well.
Year to date, the stock has gained 18.3% against the industry’s decline of 1%.
Image Source: Zacks Investment Research
ORIC-944 was initially evaluated as a single agent in a phase Ib trial in patients with advanced prostate cancer wherein it demonstrated potential best-in-class drug properties, including clinical half-life of approximately 20 hours, robust target engagement and a favorable safety profile.
ORIC’s portfolio currently does not have any approved product. Hence, in the absence of a marketed product, pipeline development remains in focus.
The company’s pipeline includes 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.
ORIC had earlier announced the completion of the dose escalation portion of the phase Ib study of ORIC-114 and the selection of the provisional recommended phase II doses.
Another candidate in the pipeline is ORIC-533. ORIC is currently completing a phase Ib study on the candidate and plans to pursue a strategic partnership for combination studies.
The company has also strengthened its cash position with a $125-million private placement financing from new and existing healthcare specialist funds in January 2024. As of Mar 31, 2024, cash, cash equivalents and investments totaled $331.5 million. ORIC expects the current cash balance to be sufficient to fund its operating plans into late 2026.
Zacks Rank & Stocks to Consider
ORIC currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the biotech sector is Entrada Therapeutics (TRDA - Free Report) , which currently carries a Zacks #1 Rank (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Entrada’s loss per share estimate for 2024 has narrowed from 27 cents to 13 cents in the past 60 days, and the same for 2025 has narrowed from $3.44 to $3.21 in the past 30 days.