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MarketScreener Homepage  >  Equities  >  Nasdaq  >  ORIC Pharmaceuticals, Inc.    ORIC

ORIC PHARMACEUTICALS, INC.

(ORIC)
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ORIC Pharmaceuticals : Announces Closing of Public Offering and Full Exercise of Underwriters Option to Purchase Additional Shares

11/18/2020 | 09:42am EST

SOUTH SAN FRANCISCO - ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced the closing of its previously announced underwritten public offering of 5,796,000 shares of its common stock, which includes the exercise in full of the underwriters' option to purchase 756,000 additional shares of its common stock, at a price to the public of $23.00 per share.

The gross proceeds to ORIC from the offering were approximately $133.3 million, before deducting underwriting discounts and commissions and estimated offering expenses.

J.P. Morgan Securities LLC, Citigroup, Jefferies LLC and Guggenheim Securities acted as joint book-running managers for the offering. Oppenheimer & Co. Inc. acted as lead manager for the offering.

The offering is made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (800) 831-9146; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, by telephone at (212) 518-9658 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

Registration statements relating to the securities have been filed with the Securities and Exchange Commission and have become effective. A copy of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.

About ORIC Pharmaceuticals, Inc.

ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials of ORIC-101 in combination with (1) Xtandi (enzalutamide) in metastatic prostate cancer and (2) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) 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. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California.

Contact:

Dominic Piscitelli

Email: dominic.piscitelli@oricpharma.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
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BROADRIDGE FINANCIAL SOLUTIONS, INC. -5.38% 143.63 Delayed Quote.-0.92%
ORIC PHARMACEUTICALS, INC. -5.65% 31.39 Delayed Quote.-7.27%
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Financials (USD)
Sales 2020 - - -
Net income 2020 -58,3 M - -
Net Debt 2020 - - -
P/E ratio 2020 -9,74x
Yield 2020 -
Capitalization 1 150 M 1 150 M -
Capi. / Sales 2020 -
Capi. / Sales 2021 -
Nbr of Employees 60
Free-Float 98,8%
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Technical analysis trends ORIC PHARMACEUTICALS, INC.
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 7
Average target price 44,14 $
Last Close Price 31,39 $
Spread / Highest target 65,7%
Spread / Average Target 40,6%
Spread / Lowest Target 8,31%
EPS Revisions
Managers and Directors
NameTitle
Jacob M. Chacko President, Chief Executive Officer & Director
Richard A. Heyman Chairman
Sara Coblin Senior Director-Finance & Operations
Dominic Piscitelli Chief Financial Officer
Pratik S. Multani Chief Medical Officer
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