ORIC Pharmaceuticals reports Q2 net loss of $36.4 mln
Overview
ORIC Pharmaceuticals Q2 net loss $36.4 mln, basic EPS misses expectations at -$0.47
Company strengthens cash position with $244 mln from recent financings
ORIC prioritizes clinical programs, reducing discovery research investment
Outlook
ORIC expects cash runway to extend into 2H 2028
Company plans to initiate registrational trials for ORIC-944 and ORIC-114 in 2026
ORIC anticipates primary endpoint readouts from Phase 3 trials before 2H 2028
Company revises operating plan to focus on clinical programs
Result Drivers
STRATEGIC FOCUS - ORIC prioritizes clinical programs, reducing investment in discovery research and implementing workforce reduction
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| -$36.36 mln |
|
Q2 Basic EPS | Miss | -$0.47 | -$0.44 (10 Analysts) |
Q2 Income from Operations |
| -$39.06 mln |
|
Q2 Operating Expenses |
| $39.06 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Oric Pharmaceuticals Inc is $19.00, about 51.6% above its August 11 closing price of $9.20
Press Release: ID:nGNXcdy0YT
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