ORIC Pharmaceuticals Stock Soars 18.76% on Positive Trial Data, $125M Financing

ORIC Pharmaceuticals' stock surged 18.76% 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 in combination with other treatments. The trial demonstrated significant PSA response rates, with a 59% PSA50 response rate and a 24% PSA90 response rate, indicating the potential for ORIC-944 to become a best-in-class treatment for prostate cancer.

The company also announced a $125 million private placement financing led by SR One, with participation from several prominent investors. This financing is expected to provide sufficient funds to support ORIC's operating plan through the second half of 2027 and through the anticipated primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in prostate cancer.

ORIC Pharmaceuticals is focused on developing treatments that address mechanisms of therapeutic resistance in cancer. The company's clinical-stage product candidates include ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2, and ORIC-114, a brain-penetrant inhibitor targeting specific EGFR and HER2 mutations. The positive data from the Phase 1b trial and the successful financing round position ORIC Pharmaceuticals for continued growth and development in the oncology space.