Oric Pharmaceuticals Shares Plummet 40% on Disappointing Cancer Drug Trial Results

Oric Pharmaceuticals' shares fell 40% after reporting study results that were positive but not positive enough for Wall Street. The cancer biotech's prostate-cancer drug candidate showed signs of a "best in disease" profile, but the data fell short of expectations. The results were positive but not positive enough for investors, leading to a significant decline in the company's shares.