ORIC Pharmaceuticals, a biopharmaceutical company, presented its latest developments in prostate cancer and lung cancer programs at the Morgan Stanley conference. The company, which ended the second quarter of 2024 with $388 million in cash, is focused on late-stage cancer treatments.
ORIC's lead prostate cancer program, rinzimetostat, has a 20-hour clinical half-life and is dosed at 400 milligrams once daily. This is in contrast to Pfizer's mevrometostat, which has a 4-5 hour half-life and is dosed at 875 milligrams twice daily. The Himalayas-1 study, designed to enroll 600 patients, aims to achieve a progression-free survival of over 10 months for the treatment arm.
The company's lung cancer program, enozertinib, is expected to start a Phase III trial in the first half of 2027. The program targets EGFR exon 20 and atypical mutations, with a potential market opportunity of over $1 billion in the U.S.
ORIC's CEO, Jacob Chacko, emphasized the importance of brain-penetrant drugs in lung cancer treatment, stating that the best-in-class drugs are always brain penetrant. The company's CFO, Dom Piscitelli, expressed confidence in the CNS activity data presented at ESMO Asia last year and aims to exceed the benchmarks set.
The company's stock was trading at $11.97, with a market capitalization of $1.25 billion. Analysts have set price targets ranging from $14 to $27.
