Oric(ORIC) - 2024 Q3 - Quarterly Results

Financial Performance - ORIC Pharmaceuticals reported cash and investments of $282.4 million as of September 30, 2024, expected to fund operations into late 2026[6] - The net loss for Q3 2024 was$ 34.6 million, compared to a net loss of $25.5 million in Q3 2023, reflecting a 35.0% increase in losses[14] - The total operating expenses for the nine months ended September 30, 2024, were$ 103.3 million, compared to $79.4 million for the same period in 2023, a 30.1% increase[14] Research and Development - Research and development (R&D) expenses increased to$ 31.2 million for Q3 2024, up from $22.4 million in Q3 2023, representing a 39.2% increase[7] - ORIC-114 is advancing towards registrational studies, with updated Phase 1b data expected in the first half of 2025[3] - ORIC-944 initiated dosing in combination with NUBEQA® and ERLEADA® in ongoing Phase 1b trials for prostate cancer in early 2024[4] - The company entered into clinical trial collaboration and supply agreements with Bayer and Johnson & Johnson to support ORIC-944 trials[4] - ORIC-114 demonstrated potential best-in-class properties in preclinical data presented at the EORTC-NCI-AACR Conference[2] Administrative Expenses - General and administrative (G&A) expenses rose to$ 7.1 million for Q3 2024, compared to $6.3 million in Q3 2023, a 12.7% increase[8] Leadership Changes - The leadership team was expanded with the appointment of Keith Lui as Senior Vice President of Commercial and Medical Affairs[5]