ORIC Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:20 pm EST
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ORIC Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 25.48 million compared to USD 24.83 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.63 a year ago.
For the nine months, net loss was USD 72.37 million compared to USD 68.28 million a year ago. Basic loss per share from continuing operations was USD 1.46 compared to USD 1.73 a year ago.
ORIC Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaged in improving patients' lives by overcoming resistance in cancer. It is developing a pipeline of clinical and discovery stage therapies designed to counter resistance mechanisms in cancer by leveraging its expertise within three specific areas: hormone-dependent cancers, precision oncology and key tumor dependencies. Its clinical-stage product candidates include 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, ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and 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.