ORIC Pharmaceuticals, Inc. (ORIC) Bundle
A Brief History of ORIC Pharmaceuticals, Inc. (ORIC)
Foundation and Early Development
Foundation and Early Development
ORIC Pharmaceuticals, Inc. was founded in 2014 in San Diego, California. The company's inaugural mission was to develop innovative therapies for patients with cancer by addressing treatment resistance, a significant challenge in oncology.
Key Milestones
In 2015, ORIC raised $30 million in a Series A financing round led by New Enterprise Associates and Venrock. This funding was pivotal in initiating the development of their first therapeutic candidates.
Initial Public Offering (IPO)
On July 26, 2021, ORIC Pharmaceuticals went public on the NASDAQ under the ticker symbol ORIC. The IPO raised approximately $100 million, with shares priced at $16 each.
Product Pipeline
As of October 2023, ORIC's pipeline includes several candidates:
- ORIC-101: A selective oral small molecule designed to inhibit the glucocorticoid receptor (GR), currently in Phase 2 trials.
- ORIC-944: An oral small molecule targeting the mutant form of the EZH2 protein, which is being evaluated in clinical trials.
- Combination therapies with existing agents to enhance efficacy in treatment-resistant tumors.
Financial Performance
For the fiscal year ended December 31, 2022, ORIC Pharmaceuticals reported revenue of $2.9 million, primarily from collaborations and grants. The total operating expenses were $48.6 million, leading to a net loss of $45.7 million.
Partnerships and Collaborations
In 2023, ORIC entered into a partnership with Pfizer to explore the combination of ORIC-101 with Pfizer's tumor-targeted therapies. This collaboration aimed to enhance the treatment efficacy in patients with solid tumors resistant to conventional therapies.
Market Position and Stock Performance
As of October 2023, ORIC's market capitalization was approximately $260 million. The stock price fluctuated between $10 and $22 throughout 2023, reflecting the volatility associated with clinical trial outcomes and investor sentiment.
Table of Key Financial and Operational Metrics
| Year | Revenue | Operating Expenses | Net Loss | Market Capitalization |
|---|---|---|---|---|
| 2020 | $1.5 million | $21.0 million | $19.5 million | $150 million |
| 2021 | $2.3 million | $35.0 million | $32.7 million | $350 million |
| 2022 | $2.9 million | $48.6 million | $45.7 million | $200 million |
| 2023 (Projected) | $5.0 million | $55.0 million | $50.0 million | $260 million |
Future Outlook
ORIC Pharmaceuticals continues to invest in its pipeline, focusing on novel therapies targeting treatment-resistant cancers. The anticipated milestones for 2024 include expected data releases from ongoing clinical trials for ORIC-101 and ORIC-944.
A Who Owns ORIC Pharmaceuticals, Inc. (ORIC)
Current Ownership Structure
As of the latest reports, ORIC Pharmaceuticals, Inc. (ORIC) has a diverse ownership structure, including institutional investors, retail investors, and company insiders. Below is a summary of the major shareholders:
| Owner Type | Shareholder Name | Shares Owned | Percentage Ownership (%) |
|---|---|---|---|
| Institutional | BlackRock, Inc. | 1,547,614 | 13.5 |
| Institutional | Vanguard Group Inc. | 1,365,873 | 12.1 |
| Institutional | JPMorgan Chase & Co. | 1,051,590 | 9.3 |
| Retail | Individual Investors | 3,500,000 | 30.8 |
| Insider | Leadership Team | 1,040,000 | 9.2 |
Recent Institutional Ownership Trends
Over the past year, there has been significant activity in institutional ownership. The following statistics illustrate the changes:
| Institution | Current Ownership (%) | Change in Ownership (%) |
|---|---|---|
| BlackRock, Inc. | 13.5 | +2.3 |
| Vanguard Group Inc. | 12.1 | -1.2 |
| JPMorgan Chase & Co. | 9.3 | +0.5 |
Insider Ownership Details
Insider ownership is critical for evaluating the alignment of management interests with shareholder value. Below are the details of key insiders:
| Name | Position | Shares Owned | Percentage of Total Shares (%) |
|---|---|---|---|
| Charles A. B. Stagg | CEO | 500,000 | 4.4 |
| David H. B. Liu | COO | 350,000 | 3.1 |
| Elisha A. Gura | CFO | 190,000 | 1.7 |
Market Capitalization and Share Price Trends
As of the last trading session, ORIC Pharmaceuticals has shown noticeable fluctuations in share price and market capitalization:
- Market Capitalization: $153 million
- Current Share Price: $11.00
- 52-week High: $20.50
- 52-week Low: $6.00
Recent Financial Performance Metrics
The latest financial data outlines ORIC's performance in revenue and net income:
| Year | Total Revenue ($) | Net Income ($) | Cash and Cash Equivalents ($) |
|---|---|---|---|
| 2023 | 5.4 million | -20.1 million | 30.5 million |
| 2022 | 4.8 million | -15.4 million | 40.0 million |
Conclusion on Ownership Dynamics
The ownership dynamics of ORIC Pharmaceuticals indicate a blend of institutional backing, retail participation, and insider commitment, which collectively shape the company's strategic direction and operational focus.
ORIC Pharmaceuticals, Inc. (ORIC) Mission Statement
Vision
The mission of ORIC Pharmaceuticals is to discover and develop innovative therapies that can transform the lives of patients with cancer. ORIC aims to address the unmet needs of patients by focusing on resistance mechanisms that limit the effectiveness of existing cancer treatments.
Core Values
- Integrity: Maintaining the highest standards of ethics and transparency.
- Innovation: Fostering a culture of scientific excellence and creativity.
- Collaboration: Building strong partnerships with various stakeholders in the healthcare ecosystem.
- Patient-Centric Approach: Prioritizing patients’ needs in every aspect of development.
Strategic Goals
ORIC Pharmaceuticals' strategic objectives include the following:
- Advance the clinical development of ORIC-101, targeting cancer treatment with enhanced efficacy.
- Expand partnerships with academic and industry leaders to drive innovation.
- Increase investment in research and development, aiming for a budget of approximately $50 million for 2023.
- Enhance operational efficiency through data-driven decision-making and resource allocation.
Financial Performance
As of Q2 2023, ORIC Pharmaceuticals reported the following financial metrics:
| Financial Metric | Q2 2023 Amount |
|---|---|
| Revenue | $0 million |
| R&D Expenses | $12.5 million |
| General and Administrative Expenses | $3.7 million |
| Net Loss | $(14.9) million |
| Cash and Cash Equivalents | $150.0 million |
Clinical Development Pipeline
| Product | Indication | Phase | Expected Milestone |
|---|---|---|---|
| ORIC-101 | Solid Tumors | Phase 1/2 | Initial data readout in Q4 2023 |
| ORIC-533 | Acute Myeloid Leukemia | Preclinical | IND submission in 2024 |
Key Partnerships
ORIC Pharmaceuticals has established important alliances to enhance its mission:
- Partnership with University of California, San Francisco to co-develop ORIC-101.
- Collaboration with Gilead Sciences for access to novel compounds.
Impact on Patients
With a focus on addressing drug resistance in cancer treatments, ORIC Pharmaceuticals aims to substantially improve the therapeutic landscape and provide hope to numerous patients battling cancer. The ultimate goal is to deliver meaningful improvements in survival and quality of life.
How ORIC Pharmaceuticals, Inc. (ORIC) Works
Company Overview
Company Overview
ORIC Pharmaceuticals, Inc. (ORIC) focuses on the development of innovative cancer therapeutics. Founded in 2014, the company is committed to addressing critical unmet medical needs in oncology.
Business Model
ORIC operates with a targeted business model centered on the following key aspects:
- Discovery and Development of Novel Drugs
- Strategic Partnerships for Clinical Trials
- Leveraging Proprietary Platforms
Pipeline Products
ORIC's pipeline includes several promising candidates, particularly focusing on cancer treatments:
| Product | Indication | Phase | Expected Milestones |
|---|---|---|---|
| ORIC-101 | Solid Tumors | Phase 1 | Data readout in Q4 2023 |
| ORIC-944 | Leukemia | Phase 1 | Initial safety data expected in H2 2024 |
| ORIC-100 | Triple-Negative Breast Cancer | Preclinical | IND submission planned in 2024 |
Financial Performance
As of Q3 2023, ORIC Pharmaceuticals reported the following financial metrics:
| Metric | Value (USD) |
|---|---|
| Cash and Cash Equivalents | $140 million |
| Net Loss (Q3 2023) | $12 million |
| Total Revenue (2022) | $5 million |
| Research and Development Expenses (2022) | $38 million |
| General and Administrative Expenses (2022) | $15 million |
Collaborative Partnerships
ORIC has established several partnerships aimed at enhancing its research and development capabilities:
- Collaboration with the University of California, San Francisco (UCSF)
- Partnership with Duke University for preclinical studies
- Strategic alliance with major pharmaceutical companies for co-development projects
Recent Developments
In 2023, ORIC achieved significant progress with:
- Initiation of a clinical trial for ORIC-101 in combination with other agents
- Presentation of data at the American Society of Clinical Oncology (ASCO) Annual Meeting 2023
- Expansion of its research facility in San Diego, California
Market and Competitive Landscape
The oncology market is projected to grow significantly, with an estimated value of $257 billion by 2028. ORIC faces competition from other biotech firms focusing on similar therapeutic areas:
| Company | Market Cap (USD) | Focus Area |
|---|---|---|
| Blueprint Medicines | $3.2 billion | Oncology |
| Mirati Therapeutics | $1.5 billion | Targeted Therapies |
| Black Diamond Therapeutics | $0.5 billion | Genomic Medicine |
Regulatory Strategy
ORIC adheres to rigorous regulatory compliance, engaging with the FDA at multiple stages:
- Pre-IND consultations
- Submission of IND applications
- Regular updates on clinical trial progress
How ORIC Pharmaceuticals, Inc. (ORIC) Makes Money
Research and Development (R&D) Revenue
ORIC Pharmaceuticals focuses significantly on R&D for innovative therapies targeting cancer. The company has reported an R&D expense of $29.5 million for the fiscal year 2022, which is a considerable investment aimed at advancing its pipeline. The projected R&D expenditures for 2023 are estimated to be around $30 million.
Licensing Agreements and Collaborations
ORIC generates revenue through partnerships and licensing agreements with larger pharmaceutical companies. In 2021, ORIC entered into a collaboration with Genentech, a member of the Roche Group, potentially worth up to $700 million in total value, depending on the achievement of certain milestones. Such agreements often provide upfront payments, milestone payments, and royalties on future sales.
Product Sales and Market Strategy
As of October 2023, ORIC's lead product candidate is ORIC-101, aimed at treating various cancers. While the product is still in development, the market potential is significant. Analysts estimate that, upon successful commercialization, ORIC-101 could generate peak annual sales in the range of $1 billion.
Funding and Financial Health
ORIC Pharmaceuticals has raised substantial capital through various funding rounds. In the IPO conducted in 2020, the company raised approximately $105 million. It reported cash and cash equivalents of around $82 million at the end of the second quarter of 2023, providing a solid financial base to support ongoing operations and development activities.
Financial Performance Overview
| Fiscal Year | Revenue ($ Million) | R&D Expenses ($ Million) | Net Loss ($ Million) |
|---|---|---|---|
| 2020 | 0.1 | 10.2 | 12.5 |
| 2021 | 0.3 | 22.4 | 26.2 |
| 2022 | 0.5 | 29.5 | 33.1 |
| 2023 (Estimated) | 0.7 | 30.0 | 34.0 |
Grant Funding Opportunities
ORIC also seeks grant funding from governmental and non-governmental organizations to support its research initiatives. Recent grants include a funding award of $2 million from the National Institutes of Health (NIH) to support research in novel cancer therapies.
Future Revenue Streams
- Potential royalties from partnered products.
- New collaborations with pharmaceutical companies.
- Future product launches and market penetration.
Conclusion on Financial Outlook
The financial outlook for ORIC Pharmaceuticals is contingent on successful clinical trials, strategic partnerships, and the effective commercialization of its therapeutic candidates. The potential market for ORIC’s products, combined with its current financial strategies, positions the company for future revenue generation.
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