{"success":true,"data":{"pressRelease":{"id":"19679","rtpr_id":"nGNX2QKcmv","ticker":"ORIC","exchange":"NASDAQ","all_tickers":["ORIC"],"title":"ORIC® Pharmaceuticals Reports First Quarter 2026 Financial Results and Operational Updates","author":"Globe Newswire","published_at":"2026-05-04T20:05:02.419Z","article_body":"Announced selection of rinzimetostat RP3D in combination with darolutamide for\nHimalayas-1 Phase 3 global registrational trial in post-abiraterone mCRPC,\nexpected to initiate in 1H 2026\n\nReported rinzimetostat data in post-abiraterone mCRPC supporting potential\nbest-in-disease profile, including a highly differentiated safety profile and\nlandmark rPFS consistent with competitor PRC2 inhibitor and substantially\nbetter than standard of care therapies in mCRPC\n\nReported early rinzimetostat data in post-AR inhibitor mCRPC, demonstrating\npromising durability and reinforcing rinzimetostat’s potential to restore\nand sustain the benefit derived from AR inhibitors\n\nAnticipate rinzimetostat program update in 2H 2026 and several enozertinib\nclinical updates in 2H 2026 ahead of potential initiation of a registrational\ntrial\n\nCash and investments of approximately $420 million expected to provide runway\ninto 2H 2028 and beyond anticipated primary endpoint readout from first Phase\n3 trial for rinzimetostat\n\nSOUTH SAN FRANCISCO and SAN DIEGO, May 04, 2026 (GLOBE NEWSWIRE) -- ORIC\nPharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company\nfocused on developing treatments that address mechanisms of therapeutic\nresistance, today reported financial results and provided operational updates\nfor the quarter ended March 31, 2026.\n\n“The first quarter marked a pivotal step for ORIC as we selected our Phase 3\ndose for rinzimetostat, reported data supporting a potential best-in-disease\nprofile, and moved toward the initiation of Himalayas-1, our first\nregistrational trial,” said Jacob M. Chacko, M.D., president and chief\nexecutive officer. “With a strong cash position and multiple enozertinib\nclinical updates expected later this year, we see a clear path to building\nORIC into a multi-asset, late-stage oncology company.”\n\nFirst Quarter 2026 and Other Recent Highlights\n\nRinzimetostat: a potent and selective allosteric inhibitor of PRC2\n* Announced the selection of rinzimetostat 400 mg once daily as the\nRecommended Phase 3 Dose (RP3D) in combination with darolutamide for the\nHimalayas-1 Phase 3 global trial in post-abiraterone mCRPC.\n* Reported rinzimetostat dose optimization data in post-abiraterone mCRPC\nsupporting potential best-in-disease profile. As of the March 2026\npresentation cutoff dates, rinzimetostat 400 mg once daily in combination with\ndarolutamide demonstrated compelling safety and efficacy across multiple\nendpoints: * The vast majority of treatment-related adverse events (TRAEs)\nwere Grade 1 in severity and consistent with PRC2 and androgen receptor (AR)\ninhibition. A single Grade 3 TRAE was observed, and no Grade 4 or 5 AEs were\nattributed to rinzimetostat or darolutamide. Dose modifications were rare (one\ninterruption and one discontinuation), with no dose reductions required.\n* With a median follow up of 4.9 months, landmark rPFS rates of 93%, 84%, and\n84% at 3, 4, and 5 months, respectively, are consistent with the competitor\nPRC2 inhibitor currently in Phase 3 in post-abiraterone mCRPC patients and\nsuperior to available standard-of-care therapies, including Xtandi®,\nJevtana®, Taxotere®, and Pluvicto®. For reference, the 5-month landmark\nrPFS for these approved therapies ranges from approximately 60% to 75%.\n* 47% of patients (7/15) achieved a PSA50 response, with 33% (5/15) confirmed.\n* Impressive ctDNA reductions observed across a range of AR mutations, with\n71% of patients (10/14) achieving >50% ctDNA reduction.\n \n* Reported early rinzimetostat dose optimization data in patients with mCRPC\npreviously treated with AR inhibitors. Rinzimetostat 400 mg once daily in\ncombination with the AR inhibitor darolutamide demonstrated compelling\nlandmark rPFS rates of 93%, 85%, and 85% at 3, 4, and 5 months, respectively,\nwith a median follow-up of 4.8 months. For reference, the clinical benefit of\nandrogen receptor pathway inhibitors in this setting is limited; for example,\nZytiga(®) has demonstrated a median rPFS of 3.4 months.\n* Presented preclinical data at AACR showing PRC2 inhibition reduces tumor\nadaptability and sustains the benefit derived from AR inhibition, with\npotential advantages of EED over EZH2 inhibition.\nEnozertinib: a brain-penetrant, selective inhibitor targeting EGFR exon 20\ninsertion mutations and EGFR atypical mutations\n* Completed enrollment in the Phase 1b trial of enozertinib as a single-agent\nin first-line patients with advanced NSCLC harboring EGFR exon 20 insertion\nmutations.\n* Continue to enroll Phase 1b trial of enozertinib as a single-agent in\nfirst-line patients with advanced NSCLC harboring EGFR atypical mutations.\n* Continue to enroll Phase 1b trial of enozertinib in combination with\nsubcutaneous (SC) amivantamab in first-line patients with advanced NSCLC\nharboring EGFR exon 20 insertion mutations.\nAnticipated Program Milestones:\n\nORIC anticipates the following upcoming milestones:\n* Rinzimetostat in mCRPC: * 1H 2026: Initiate Himalayas-1 global Phase 3\nregistrational trial in post-abiraterone mCRPC\n* 2H 2026: Program update\n \n* Enozertinib in NSCLC: * 2H 2026: 1L EGFR atypical monotherapy data\n* 2H 2026: 1L EGFR exon 20 insertion monotherapy data and combination data\nwith SC amivantamab\nFirst Quarter 2026 Financial Results\n* Cash, Cash Equivalents and Investments: Cash, cash equivalents and\ninvestments totaled $419.7 million as of March 31, 2026, which includes $59.9\nmillion in net proceeds raised from healthcare specialist funds during the\nquarter under the ATM (at-the-market) program. The company expects its cash\nand investments to fund the operating plan into 2H 2028.\n\n* R&D Expenses: Research and development (R&D) expenses were $31.4 million\nfor the three months ended March 31, 2026, compared to $24.6 million for the\nthree months ended March 31, 2025, an increase of $6.8 million. The increase\nwas primarily due to an increase in external expenses related to the\nadvancement of rinzimetostat and enozertinib, offset primarily by lower\npreclinical costs.\n\n* G&A Expenses: General and administrative (G&A) expenses were $8.2 million\nfor the three months ended March 31, 2026, relatively consistent with\n$8.1 million for the three months ended March 31, 2025.\nAbout ORIC Pharmaceuticals, Inc. \nORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated\nto improving patients’ lives by Overcoming Resistance In Cancer. ORIC’s\nclinical stage product candidates include (1) rinzimetostat, an allosteric\ninhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit,\nbeing developed for prostate cancer, and (2) enozertinib, a brain-penetrant\ninhibitor targeting EGFR exon 20 insertion and EGFR atypical mutations, being\ndeveloped for NSCLC. ORIC has offices in South San Francisco and San Diego,\nCalifornia. For more information, please go to www.oricpharma.com, and follow\nus on X\n(https://www.globenewswire.com/Tracker?data=r8AJKqMEa9uhOD64bSi9P7qg8Hc-HAVP01TRaT2DO7fKxpPBrAN0QyEL3hf3ZtaniPvBxa_5hM5I3FkO94VAVlMDZ4Amsufxylm6wnUz4bppIQ1PmoPHauQbde5O7lMeuxsGlHu9yCfS8-9oF8yY449_ocPvN7ubQ4JV-HjugoPSYPnURiRA24kgzd0c-ViUu2XWXgJ6BjVhQLeAoWZQfg==) or LinkedIn\n(https://www.globenewswire.com/Tracker?data=_Kig4QKKh_SOU8Opr0jjVhec_HQ-hA5ejBmppJLnrNFv3yTpkUifZHG7TtEzTndoojjUiICgpOIzeNd4KXdwe-TS0r2PIbmqhHW-hM-OZEwhPNlHKFU5upfayvA8Jkk80Rld_ttNfWI9tDT8KDpiYzGKiEl2a-Np9KWiWvyOKKj3oEVAnwLg6pCyF9FiRw6PONiKp9rbQBWvslDAbi7jyM3MxouxrFUwkAezHoEZ34o2IEXLM7ExltLFdTZIcl0_Fun8-wBO4FgOjcbU6Q-HoQ==).\n\nCautionary Note Regarding Forward-Looking Statements\nThis press release contains forward-looking statements as that term is defined\nin Section 27A of the Securities Act of 1933 and Section 21E of the Securities\nExchange Act of 1934. Statements in this press release that are not purely\nhistorical are forward-looking statements. Such forward-looking statements\ninclude, among other things, the continued clinical development of\nrinzimetostat and enozertinib; the potential advantages of rinzimetostat and\nenozertinib; clinical outcomes, which may materially change as patient\nenrollment continues or more patient data become available; statements\nregarding the potential best-in-disease profile of rinzimetostat; the\ndevelopment plans and timelines for rinzimetostat and enozertinib; plans\nunderlying ORIC’s clinical trials and development; anticipated program\nmilestones, including timing of program and data updates and the initiation of\na registrational trial; the period over which ORIC estimates its existing\ncash, cash equivalents and investments will be sufficient to fund its current\noperating plan; and statements by the company’s chief executive officer.\nWords such as “believes,” “anticipates,” “plans,” “expects,”\n“intends,” “will,” “goal,” “potential” and similar expressions\nare intended to identify forward-looking statements. The forward-looking\nstatements contained herein are based upon ORIC’s current expectations and\ninvolve assumptions that may never materialize or may prove to be incorrect.\nActual results could differ materially from those projected in any\nforward-looking statements due to numerous risks and uncertainties, including\nbut not limited to: risks associated with the process of discovering,\ndeveloping and commercializing drugs that are safe and effective for use as\nhuman therapeutics and operating as an early clinical stage company; ORIC’s\nability to develop, initiate or complete preclinical studies and clinical\ntrials for, obtain approvals for and commercialize any of its product\ncandidates; changes in ORIC’s plans to develop and commercialize its product\ncandidates; the potential for clinical trials of rinzimetostat, enozertinib or\nany other product candidates to differ from preclinical, initial, interim,\npreliminary or expected results; negative impacts of health emergencies,\neconomic instability or international conflicts on ORIC’s operations,\nincluding clinical trials; the risk of the occurrence of any event, change or\nother circumstance that could give rise to the termination of ORIC’s license\nand collaboration agreements or its clinical trial collaboration and supply\nagreements; the potential market for ORIC’s product candidates, and the\nprogress and success of competing therapeutics currently available or in\ndevelopment; ORIC’s ability to raise any additional funding it will need to\ncontinue to pursue its business and product development plans; regulatory\ndevelopments in the United States and foreign countries; ORIC’s reliance on\nthird parties, including contract manufacturers and contract research\norganizations; ORIC’s ability to obtain and maintain intellectual property\nprotection for its product candidates; the loss of key scientific or\nmanagement personnel; competition in the industry in which ORIC operates;\ngeneral economic and market conditions; and other risks. Information regarding\nthe foregoing and additional risks may be found in the section entitled\n“Risk Factors” in ORIC’s Quarterly Report on Form 10-Q filed with the\nSecurities and Exchange Commission (the SEC) on May 4, 2026, and ORIC’s\nfuture reports to be filed with the SEC. These forward-looking statements are\nmade as of the date of this press release, and ORIC assumes no obligation to\nupdate the forward-looking statements, or to update the reasons why actual\nresults could differ from those projected in the forward-looking statements,\nexcept as required by law.\n\nContact:\n\nDominic Piscitelli, Chief Financial Officer\ndominic.piscitelli@oricpharma.com\ninfo@oricpharma.com\n\nAll registered trademarks are the property of their respective owners.\n\n ORIC PHARMACEUTICALS, INC. CONDENSED BALANCE SHEETS (in thousands)                                             \n                                                    March 31, 2026                      December 31, 2025       \n                                                    (unaudited)                                                 \n Assets                                                                                                         \n Current assets:                                                                                                \n Cash, cash equivalents and short-term investments  $         281,932                   $          281,488      \n Prepaid expenses and other current assets                    8,301                                6,978        \n Total current assets                                         290,233                              288,466      \n                                                                                                                \n Long-term investments                                        137,779                              110,762      \n Property and equipment, net                                  2,147                                2,415        \n Other assets                                                 6,603                                7,247        \n Total assets                                       $         436,762                   $          408,890      \n                                                                                                                \n Liabilities and Stockholders' Equity                                                                           \n Current liabilities:                                                                                           \n Accounts payable                                   $         2,895                     $          3,824        \n Accrued liabilities                                          14,876                               16,593       \n Total current liabilities                                    17,771                               20,417       \n                                                                                                                \n Other long-term liabilities                                  3,434                                4,111        \n Total liabilities                                            21,205                               24,528       \n                                                                                                                \n Total stockholders' equity                                   415,557                              384,362      \n Total liabilities and stockholders' equity         $         436,762                   $          408,890      \n                                                                                                                \n\n\n\n ORIC PHARMACEUTICALS, INC. STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (in thousands, except share and per share amounts) \n                                                         Three Months Ended March 31,                            \n                                                         2026                              2025                  \n Operating expenses:                                                                                             \n Research and development                                $      31,437                     $      24,640         \n General and administrative                                     8,182                             8,078          \n Total operating expenses                                       39,619                            32,718         \n Loss from operations                                           (39,619      )                    (32,718     )  \n                                                                                                                 \n Other income, net                                              3,852                             2,697          \n Net loss                                                $      (35,767      )             $      (30,021     )  \n Other comprehensive loss:                                                                                       \n Unrealized loss on investments                                 (1,076       )                    (170        )  \n Comprehensive loss                                      $      (36,843      )             $      (30,191     )  \n Net loss per share, basic and diluted                   $      (0.34        )             $      (0.42       )  \n Weighted-average shares outstanding, basic and diluted         105,472,766                       71,040,580     \n                                                                                                                 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/acbc0ad2-7a44-4ee7-b729-ab92d57ffafb)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX2QKcmv","title":"ORIC® Pharmaceuticals Reports First Quarter 2026 Financial Results and Operational Updates","author":"Globe Newswire","ticker":"ORIC","created":"2026-05-04T20:05:02.419Z","tickers":["ORIC"],"exchange":"NASDAQ","article_body":"Announced selection of rinzimetostat RP3D in combination with darolutamide for\nHimalayas-1 Phase 3 global registrational trial in post-abiraterone mCRPC,\nexpected to initiate in 1H 2026\n\nReported rinzimetostat data in post-abiraterone mCRPC supporting potential\nbest-in-disease profile, including a highly differentiated safety profile and\nlandmark rPFS consistent with competitor PRC2 inhibitor and substantially\nbetter than standard of care therapies in mCRPC\n\nReported early rinzimetostat data in post-AR inhibitor mCRPC, demonstrating\npromising durability and reinforcing rinzimetostat’s potential to restore\nand sustain the benefit derived from AR inhibitors\n\nAnticipate rinzimetostat program update in 2H 2026 and several enozertinib\nclinical updates in 2H 2026 ahead of potential initiation of a registrational\ntrial\n\nCash and investments of approximately $420 million expected to provide runway\ninto 2H 2028 and beyond anticipated primary endpoint readout from first Phase\n3 trial for rinzimetostat\n\nSOUTH SAN FRANCISCO and SAN DIEGO, May 04, 2026 (GLOBE NEWSWIRE) -- ORIC\nPharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company\nfocused on developing treatments that address mechanisms of therapeutic\nresistance, today reported financial results and provided operational updates\nfor the quarter ended March 31, 2026.\n\n“The first quarter marked a pivotal step for ORIC as we selected our Phase 3\ndose for rinzimetostat, reported data supporting a potential best-in-disease\nprofile, and moved toward the initiation of Himalayas-1, our first\nregistrational trial,” said Jacob M. Chacko, M.D., president and chief\nexecutive officer. “With a strong cash position and multiple enozertinib\nclinical updates expected later this year, we see a clear path to building\nORIC into a multi-asset, late-stage oncology company.”\n\nFirst Quarter 2026 and Other Recent Highlights\n\nRinzimetostat: a potent and selective allosteric inhibitor of PRC2\n* Announced the selection of rinzimetostat 400 mg once daily as the\nRecommended Phase 3 Dose (RP3D) in combination with darolutamide for the\nHimalayas-1 Phase 3 global trial in post-abiraterone mCRPC.\n* Reported rinzimetostat dose optimization data in post-abiraterone mCRPC\nsupporting potential best-in-disease profile. As of the March 2026\npresentation cutoff dates, rinzimetostat 400 mg once daily in combination with\ndarolutamide demonstrated compelling safety and efficacy across multiple\nendpoints: * The vast majority of treatment-related adverse events (TRAEs)\nwere Grade 1 in severity and consistent with PRC2 and androgen receptor (AR)\ninhibition. A single Grade 3 TRAE was observed, and no Grade 4 or 5 AEs were\nattributed to rinzimetostat or darolutamide. Dose modifications were rare (one\ninterruption and one discontinuation), with no dose reductions required.\n* With a median follow up of 4.9 months, landmark rPFS rates of 93%, 84%, and\n84% at 3, 4, and 5 months, respectively, are consistent with the competitor\nPRC2 inhibitor currently in Phase 3 in post-abiraterone mCRPC patients and\nsuperior to available standard-of-care therapies, including Xtandi®,\nJevtana®, Taxotere®, and Pluvicto®. For reference, the 5-month landmark\nrPFS for these approved therapies ranges from approximately 60% to 75%.\n* 47% of patients (7/15) achieved a PSA50 response, with 33% (5/15) confirmed.\n* Impressive ctDNA reductions observed across a range of AR mutations, with\n71% of patients (10/14) achieving >50% ctDNA reduction.\n \n* Reported early rinzimetostat dose optimization data in patients with mCRPC\npreviously treated with AR inhibitors. Rinzimetostat 400 mg once daily in\ncombination with the AR inhibitor darolutamide demonstrated compelling\nlandmark rPFS rates of 93%, 85%, and 85% at 3, 4, and 5 months, respectively,\nwith a median follow-up of 4.8 months. For reference, the clinical benefit of\nandrogen receptor pathway inhibitors in this setting is limited; for example,\nZytiga(®) has demonstrated a median rPFS of 3.4 months.\n* Presented preclinical data at AACR showing PRC2 inhibition reduces tumor\nadaptability and sustains the benefit derived from AR inhibition, with\npotential advantages of EED over EZH2 inhibition.\nEnozertinib: a brain-penetrant, selective inhibitor targeting EGFR exon 20\ninsertion mutations and EGFR atypical mutations\n* Completed enrollment in the Phase 1b trial of enozertinib as a single-agent\nin first-line patients with advanced NSCLC harboring EGFR exon 20 insertion\nmutations.\n* Continue to enroll Phase 1b trial of enozertinib as a single-agent in\nfirst-line patients with advanced NSCLC harboring EGFR atypical mutations.\n* Continue to enroll Phase 1b trial of enozertinib in combination with\nsubcutaneous (SC) amivantamab in first-line patients with advanced NSCLC\nharboring EGFR exon 20 insertion mutations.\nAnticipated Program Milestones:\n\nORIC anticipates the following upcoming milestones:\n* Rinzimetostat in mCRPC: * 1H 2026: Initiate Himalayas-1 global Phase 3\nregistrational trial in post-abiraterone mCRPC\n* 2H 2026: Program update\n \n* Enozertinib in NSCLC: * 2H 2026: 1L EGFR atypical monotherapy data\n* 2H 2026: 1L EGFR exon 20 insertion monotherapy data and combination data\nwith SC amivantamab\nFirst Quarter 2026 Financial Results\n* Cash, Cash Equivalents and Investments: Cash, cash equivalents and\ninvestments totaled $419.7 million as of March 31, 2026, which includes $59.9\nmillion in net proceeds raised from healthcare specialist funds during the\nquarter under the ATM (at-the-market) program. The company expects its cash\nand investments to fund the operating plan into 2H 2028.\n\n* R&D Expenses: Research and development (R&D) expenses were $31.4 million\nfor the three months ended March 31, 2026, compared to $24.6 million for the\nthree months ended March 31, 2025, an increase of $6.8 million. The increase\nwas primarily due to an increase in external expenses related to the\nadvancement of rinzimetostat and enozertinib, offset primarily by lower\npreclinical costs.\n\n* G&A Expenses: General and administrative (G&A) expenses were $8.2 million\nfor the three months ended March 31, 2026, relatively consistent with\n$8.1 million for the three months ended March 31, 2025.\nAbout ORIC Pharmaceuticals, Inc. \nORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated\nto improving patients’ lives by Overcoming Resistance In Cancer. ORIC’s\nclinical stage product candidates include (1) rinzimetostat, an allosteric\ninhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit,\nbeing developed for prostate cancer, and (2) enozertinib, a brain-penetrant\ninhibitor targeting EGFR exon 20 insertion and EGFR atypical mutations, being\ndeveloped for NSCLC. ORIC has offices in South San Francisco and San Diego,\nCalifornia. For more information, please go to www.oricpharma.com, and follow\nus on X\n(https://www.globenewswire.com/Tracker?data=r8AJKqMEa9uhOD64bSi9P7qg8Hc-HAVP01TRaT2DO7fKxpPBrAN0QyEL3hf3ZtaniPvBxa_5hM5I3FkO94VAVlMDZ4Amsufxylm6wnUz4bppIQ1PmoPHauQbde5O7lMeuxsGlHu9yCfS8-9oF8yY449_ocPvN7ubQ4JV-HjugoPSYPnURiRA24kgzd0c-ViUu2XWXgJ6BjVhQLeAoWZQfg==) or LinkedIn\n(https://www.globenewswire.com/Tracker?data=_Kig4QKKh_SOU8Opr0jjVhec_HQ-hA5ejBmppJLnrNFv3yTpkUifZHG7TtEzTndoojjUiICgpOIzeNd4KXdwe-TS0r2PIbmqhHW-hM-OZEwhPNlHKFU5upfayvA8Jkk80Rld_ttNfWI9tDT8KDpiYzGKiEl2a-Np9KWiWvyOKKj3oEVAnwLg6pCyF9FiRw6PONiKp9rbQBWvslDAbi7jyM3MxouxrFUwkAezHoEZ34o2IEXLM7ExltLFdTZIcl0_Fun8-wBO4FgOjcbU6Q-HoQ==).\n\nCautionary Note Regarding Forward-Looking Statements\nThis press release contains forward-looking statements as that term is defined\nin Section 27A of the Securities Act of 1933 and Section 21E of the Securities\nExchange Act of 1934. Statements in this press release that are not purely\nhistorical are forward-looking statements. Such forward-looking statements\ninclude, among other things, the continued clinical development of\nrinzimetostat and enozertinib; the potential advantages of rinzimetostat and\nenozertinib; clinical outcomes, which may materially change as patient\nenrollment continues or more patient data become available; statements\nregarding the potential best-in-disease profile of rinzimetostat; the\ndevelopment plans and timelines for rinzimetostat and enozertinib; plans\nunderlying ORIC’s clinical trials and development; anticipated program\nmilestones, including timing of program and data updates and the initiation of\na registrational trial; the period over which ORIC estimates its existing\ncash, cash equivalents and investments will be sufficient to fund its current\noperating plan; and statements by the company’s chief executive officer.\nWords such as “believes,” “anticipates,” “plans,” “expects,”\n“intends,” “will,” “goal,” “potential” and similar expressions\nare intended to identify forward-looking statements. The forward-looking\nstatements contained herein are based upon ORIC’s current expectations and\ninvolve assumptions that may never materialize or may prove to be incorrect.\nActual results could differ materially from those projected in any\nforward-looking statements due to numerous risks and uncertainties, including\nbut not limited to: risks associated with the process of discovering,\ndeveloping and commercializing drugs that are safe and effective for use as\nhuman therapeutics and operating as an early clinical stage company; ORIC’s\nability to develop, initiate or complete preclinical studies and clinical\ntrials for, obtain approvals for and commercialize any of its product\ncandidates; changes in ORIC’s plans to develop and commercialize its product\ncandidates; the potential for clinical trials of rinzimetostat, enozertinib or\nany other product candidates to differ from preclinical, initial, interim,\npreliminary or expected results; negative impacts of health emergencies,\neconomic instability or international conflicts on ORIC’s operations,\nincluding clinical trials; the risk of the occurrence of any event, change or\nother circumstance that could give rise to the termination of ORIC’s license\nand collaboration agreements or its clinical trial collaboration and supply\nagreements; the potential market for ORIC’s product candidates, and the\nprogress and success of competing therapeutics currently available or in\ndevelopment; ORIC’s ability to raise any additional funding it will need to\ncontinue to pursue its business and product development plans; regulatory\ndevelopments in the United States and foreign countries; ORIC’s reliance on\nthird parties, including contract manufacturers and contract research\norganizations; ORIC’s ability to obtain and maintain intellectual property\nprotection for its product candidates; the loss of key scientific or\nmanagement personnel; competition in the industry in which ORIC operates;\ngeneral economic and market conditions; and other risks. Information regarding\nthe foregoing and additional risks may be found in the section entitled\n“Risk Factors” in ORIC’s Quarterly Report on Form 10-Q filed with the\nSecurities and Exchange Commission (the SEC) on May 4, 2026, and ORIC’s\nfuture reports to be filed with the SEC. These forward-looking statements are\nmade as of the date of this press release, and ORIC assumes no obligation to\nupdate the forward-looking statements, or to update the reasons why actual\nresults could differ from those projected in the forward-looking statements,\nexcept as required by law.\n\nContact:\n\nDominic Piscitelli, Chief Financial Officer\ndominic.piscitelli@oricpharma.com\ninfo@oricpharma.com\n\nAll registered trademarks are the property of their respective owners.\n\n ORIC PHARMACEUTICALS, INC. CONDENSED BALANCE SHEETS (in thousands)                                             \n                                                    March 31, 2026                      December 31, 2025       \n                                                    (unaudited)                                                 \n Assets                                                                                                         \n Current assets:                                                                                                \n Cash, cash equivalents and short-term investments  $         281,932                   $          281,488      \n Prepaid expenses and other current assets                    8,301                                6,978        \n Total current assets                                         290,233                              288,466      \n                                                                                                                \n Long-term investments                                        137,779                              110,762      \n Property and equipment, net                                  2,147                                2,415        \n Other assets                                                 6,603                                7,247        \n Total assets                                       $         436,762                   $          408,890      \n                                                                                                                \n Liabilities and Stockholders' Equity                                                                           \n Current liabilities:                                                                                           \n Accounts payable                                   $         2,895                     $          3,824        \n Accrued liabilities                                          14,876                               16,593       \n Total current liabilities                                    17,771                               20,417       \n                                                                                                                \n Other long-term liabilities                                  3,434                                4,111        \n Total liabilities                                            21,205                               24,528       \n                                                                                                                \n Total stockholders' equity                                   415,557                              384,362      \n Total liabilities and stockholders' equity         $         436,762                   $          408,890      \n                                                                                                                \n\n\n\n ORIC PHARMACEUTICALS, INC. STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (in thousands, except share and per share amounts) \n                                                         Three Months Ended March 31,                            \n                                                         2026                              2025                  \n Operating expenses:                                                                                             \n Research and development                                $      31,437                     $      24,640         \n General and administrative                                     8,182                             8,078          \n Total operating expenses                                       39,619                            32,718         \n Loss from operations                                           (39,619      )                    (32,718     )  \n                                                                                                                 \n Other income, net                                              3,852                             2,697          \n Net loss                                                $      (35,767      )             $      (30,021     )  \n Other comprehensive loss:                                                                                       \n Unrealized loss on investments                                 (1,076       )                    (170        )  \n Comprehensive loss                                      $      (36,843      )             $      (30,191     )  \n Net loss per share, basic and diluted                   $      (0.34        )             $      (0.42       )  \n Weighted-average shares outstanding, basic and diluted         105,472,766                       71,040,580     \n                                                                                                                 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/acbc0ad2-7a44-4ee7-b729-ab92d57ffafb)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-04T20:05:02.507760956Z","server_sent_at_ms":1777925102507},"received_at":"2026-05-04T20:05:02.568Z","source_url":"https://www.globenewswire.com/news-release/2025/05/05/3074504/0/en/ORIC-Pharmaceuticals-Reports-First-Quarter-2025-Financial-Results-and-Operational-Updates.html"},"analysis":{"id":"14407","press_release_id":"19679","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":[],"eventType":"clinical_trial","narrative":"ORIC selected the 400 mg dose of rinzimetostat for its Himalayas-1 Phase 3 trial in post-abiraterone mCRPC, with initiation expected in 1H 2026, and reported 84% rPFS at five months.\n\nThe company reported $419.7 million in cash and investments as of March 31, 2026, providing a runway into 2H 2028, bolstered by $59.9 million raised via an ATM program.\n\nR&D expenses increased to $31.4 million during the quarter to support clinical advancement, while the net loss was $35.8 million.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"ORIC advances lead asset to Phase 3 with 'best-in-disease' data and cash runway secured into 2028."},"keyFigures":{"drugName":"rinzimetostat","phaseOfTrial":"Phase 3","customDimensions":{"rpfs_5_month_percent":84,"cash_and_investments_usd":419700000}},"quotedText":"The first quarter marked a pivotal step for ORIC as we selected our Phase 3 dose for rinzimetostat, reported data supporting a potential best-in-disease profile, and moved toward the initiation of Himalayas-1, our first registrational trial","namedEntities":{"people":[{"name":"Jacob M. Chacko","role":"President and Chief Executive Officer"},{"name":"Dominic Piscitelli","role":"Chief Financial Officer"}],"products":["rinzimetostat","darolutamide","Xtandi®","Jevtana®","Taxotere®","Pluvicto®","enozertinib","Zytiga®","amivantamab"],"companies":[{"name":"ORIC Pharmaceuticals, Inc.","ticker":"ORIC"}],"dollarAmounts":[{"amount":"$419.7 million","context":"Cash, cash equivalents and investments as of March 31, 2026"},{"amount":"$59.9 million","context":"Net proceeds raised during the quarter under the ATM program"},{"amount":"$31.4 million","context":"Research and development expenses for Q1 2026"},{"amount":"$8.2 million","context":"General and administrative expenses for Q1 2026"},{"amount":"$35.8 million","context":"Net loss for Q1 2026"}]},"materialImpact":{"score":3,"reasoning":"ORIC announced the selection of the Phase 3 dose for its lead asset rinzimetostat and the impending initiation of the Himalayas-1 registrational trial, marking a major de-risking event. The reported rPFS data suggests a potential best-in-disease profile, and the company secured a cash runway into 2H 2028 via an ATM offering."},"tickerRelevance":{"others":[],"primary":"ORIC"},"globalImportance":35,"audienceRelevance":40,"eventTypeSecondary":["earnings"],"importanceComponents":{"dataQuality":"Positive Efficacy Signals","cashPosition":"Strong Runway","eventGravity":"Phase 3 Initiation","sectorWeight":"Biotech"}},"event_type":"clinical_trial","event_type_secondary":["earnings"],"sentiment":"bullish","material_impact_score":3,"narrative":"ORIC selected the 400 mg dose of rinzimetostat for its Himalayas-1 Phase 3 trial in post-abiraterone mCRPC, with initiation expected in 1H 2026, and reported 84% rPFS at five months.\n\nThe company reported $419.7 million in cash and investments as of March 31, 2026, providing a runway into 2H 2028, bolstered by $59.9 million raised via an ATM program.\n\nR&D expenses increased to $31.4 million during the quarter to support clinical advancement, while the net loss was $35.8 million.","key_figures":{"drugName":"rinzimetostat","phaseOfTrial":"Phase 3","customDimensions":{"rpfs_5_month_percent":84,"cash_and_investments_usd":419700000}},"named_entities":{"people":[{"name":"Jacob M. Chacko","role":"President and Chief Executive Officer"},{"name":"Dominic Piscitelli","role":"Chief Financial Officer"}],"products":["rinzimetostat","darolutamide","Xtandi®","Jevtana®","Taxotere®","Pluvicto®","enozertinib","Zytiga®","amivantamab"],"companies":[{"name":"ORIC Pharmaceuticals, Inc.","ticker":"ORIC"}],"dollarAmounts":[{"amount":"$419.7 million","context":"Cash, cash equivalents and investments as of March 31, 2026"},{"amount":"$59.9 million","context":"Net proceeds raised during the quarter under the ATM program"},{"amount":"$31.4 million","context":"Research and development expenses for Q1 2026"},{"amount":"$8.2 million","context":"General and administrative expenses for Q1 2026"},{"amount":"$35.8 million","context":"Net loss for Q1 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-04T20:49:05.979Z","global_importance":35,"audience_relevance":40,"importance_components":{"dataQuality":"Positive Efficacy Signals","cashPosition":"Strong Runway","eventGravity":"Phase 3 Initiation","sectorWeight":"Biotech"}},"durationMs":218430,"modelName":"glm-4.7"}}