Shares of ORIC Pharmaceuticals Inc. (NASDAQ:ORIC) jumped 20% following the release of early data from its ongoing Phase 1b clinical study evaluating ORIC-944 in combination with androgen receptor (AR) inhibitors for the treatment of metastatic castration-resistant prostate cancer (mCRPC). The interim results point to promising clinical efficacy and a manageable safety profile, potentially positioning ORIC-944 as a leading PRC2 inhibitor candidate.
The trial tested ORIC-944 alongside AR inhibitors apalutamide and darolutamide, commonly used in prostate cancer therapy. Results revealed a 59% PSA50 response rate – indicating a 50% or greater reduction in prostate-specific antigen (PSA) levels – and a 24% PSA90 response rate. Most side effects were reported as mild or moderate in intensity, reinforcing the therapy’s potential for prolonged use.
Commenting on the results, Cantor Fitzgerald analyst Prakhar Agrawal stated, “Overall, a solid update by ORIC with not much to nitpick on efficacy/safety.” The analyst reaffirmed an Overweight rating on the stock, citing ORIC-944’s competitive edge relative to similar treatments currently in development.
Alongside the clinical news, ORIC announced a $125 million financing raise, which the company expects will extend its financial runway into the second half of 2027. The timing is strategic, supporting continued development and data collection, including the primary endpoint results from the first Phase 3 registrational trial of ORIC-944 in mCRPC.
Market enthusiasm was fueled by the one-two punch of strong trial results and a robust cash infusion, both of which strengthen ORIC’s outlook. The company is planning to carry out dose optimization over the coming three quarters, with a goal to launch a global Phase 3 registrational trial in the first half of 2026.