ORIC Pharmaceuticals Inc. (ORIC), a clinical-stage oncology company, on Monday released the first quarter financial results and provided operational updates on the development of drugs Rinzimetostat and Enozertinib.
The company is currently advancing therapies in the treatment of prostate and non-small cell lung cancers.
Q1 2026:
The company reported a net loss of $35.77 million, or $0.34 per share, in the first quarter of 2026, while in the same period of 2025, there was a net loss of $30.02 million, or $0.42 per share.
Other income, net was $3.85 million, while a year ago the same was $2.69 million.
Research and development expenses were at $31.40 million, an increase of more than $6.8 million from last year's first quarter expenses of $24.60 million.
Total cash, cash equivalents, and investments as of March 31, 2026, was $419.70 million, and the company expects these funds to sustain operations till 2028.
Pipeline Highlights:
ORIC is developing Rinzimetostat, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2), for the treatment of metastatic castration-resistant prostate cancer (mCRPC).
In the Phase 3 Himalayas-1 trial, mCRPC patients on post-abiraterone treatment were dosed with rinzimetostat in combination with androgen receptor (AR) inhibitor darolutamide. As of the March 2026 cutoff date, radiographic progression-free survival (rPFS) rates of dosed subjects were 84%-93%, significantly higher than the rPFS rates of 60%-75% observed with standard-of-care treatments.
Additionally, 47% of patients achieved a prostate specific antigen 50 (PSA50) response. Over 71% of patients also showed a less than or equal to50% reduction in ctDNA levels.
The company plans to initiate a registrational Phase 3 trial for rinzimetostat in treating mCRPC in the first half of 2026, and to provide updates on the program in the second half.
ORIC is simultaneously developing Enozertinib, a brain penetrant, selective inhibitor targeting EGFR mutations, for the treatment of advanced non-small cell lung cancer (NSCLC).
The company reported completion of enrollment in the Phase 1b for enozertinib as a single-agent, first-line treatment of advanced NSCLC with EGFR exon 20 mutations. Enrollment is ongoing in the Phase 1b trials for enozertinib as a single-agent treatment for NSCLC with EGFR atypical mutations, and for enozertinib in combination with subcutaneous (SC) amivantamab for the treatment of advanced NSCLC with EGFR exon 20 mutations.
Readouts from the trials for enozertinib as a monotherapy and in combination with SC amivantamabgiv are anticipated in the second half of 2026.
ORIC closed Monday at $9.63, down 1.43%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.