ORIC Pharmaceuticals Stock Soars 24.46% on Clinical Trial Success

ORIC Pharmaceuticals' stock surged 24.46% in pre-market trading on May 29, 2025, driven by a series of positive developments in its clinical trials and financing efforts.

ORIC Pharmaceuticals has reported promising preliminary efficacy and safety data from its ongoing Phase 1b trial of ORIC-944, a drug being developed for prostate cancer. The trial demonstrated significant PSA response rates, with a 59% PSA50 response rate and a 24% PSA90 response rate, indicating the drug's potential as a best-in-class treatment.

The company also announced a $125 million private placement financing led by SR One, with participation from several prominent investors. This funding is expected to support ORIC's research and development efforts, including the advancement of ORIC-944 through its Phase 3 registrational trial in prostate cancer. The proceeds from this financing, combined with existing cash reserves, are anticipated to fund the company's operating plan into the second half of 2027.