Oric Pharmaceuticals Inc

ORIC Pharmaceuticals reported second-quarter results on August 3 and launched Himalayas-1, a global Phase 3 trial of its lead prostate cancer drug rinzimetostat, while holding $387.6 million in cash and investments. The trial is designed to enroll roughly 600 patients across more than 250 sites in 25 countries, randomizing them 1:1 to rinzimetostat plus darolutamide against a physician's choice of an androgen receptor inhibitor or docetaxel, with radiographic progression-free survival as the primary endpoint and overall survival as the key secondary measure. ORIC paired the launch with a supply deal under which Bayer provides its approved drug NUBEQA at no cost for the trial, while ORIC kept full global rights to rinzimetostat. Research and development spending rose to $36.3 million for the quarter from $30.5 million a year earlier, and the net loss widened to $41.5 million from $36.4 million, though loss per share narrowed to $0.38 from $0.47 after the weighted average share count climbed from about 78.1 million shares to 108 million. The company's second program, enozertinib, is running four separate Phase 1b studies in EGFR-mutated lung cancer, with data from the atypical mutation study scheduled for the ESMO Congress in October, and ORIC says its cash position funds operations into the second half of 2028.