ORIC Pharmaceuticals (ORIC)
Market Price (6/28/2026): $9.38 | Market Cap: $989.3 MilSector: Health Care | Industry: Biotechnology
ORIC Pharmaceuticals (ORIC)
Market Price (6/28/2026): $9.38Market Cap: $989.3 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Weak multi-year price returns2Y Excs Rtn is -2.8%, 3Y Excs Rtn is -24% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.31, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -150 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18% Key risksORIC key risks include [1] its heavy dependence on achieving successful clinical and regulatory milestones for its lead drug candidates, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -2.8%, 3Y Excs Rtn is -24% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.31, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -150 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18% |
| Key risksORIC key risks include [1] its heavy dependence on achieving successful clinical and regulatory milestones for its lead drug candidates, Show more. |
Qualitative Assessment
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ORIC Pharmaceuticals (ORIC) stock has lost about 30% since 2/28/2026 because of the following key factors:
1. Market skepticism regarding the Phase 3 advancement of rinzimetostat.
Despite ORIC reporting "compelling" Phase 1b data for its lead prostate cancer drug, rinzimetostat, the stock experienced a significant drop of approximately 19% on April 1, 2026, following the announcement of its advancement to a large 600-patient Phase 3 trial, Himalayas-1. This negative market reaction, despite the company's positive framing of selecting the Recommended Phase 3 Dose (RP3D) and initiating the trial in fiscal H1 2026, may stem from concerns about the limited patient dataset (efficacy endpoints reported on 15 patients for PSA50 and 14 patients for ctDNA) underlying the Phase 1b results, implying increased risk for the large and costly Phase 3 study.
2. Increased research and development (R&D) expenses.
ORIC Pharmaceuticals reported an increase in R&D expenses, which rose by $6.8 million from $24.6 million in fiscal Q1 2025 to $31.4 million in fiscal Q1 2026. This increase was primarily attributed to the accelerated advancement of rinzimetostat and enozertinib, contributing to a higher cash burn rate expected in clinical-stage companies. While necessary for pipeline progression, this increased spending, especially in conjunction with the perceived risks of large-scale clinical trials, likely contributed to investor caution.
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ORIC Pharmaceuticals (ORIC) stock has lost about 30% since 2/28/2026 because of the following key factors:
1. Market skepticism regarding the Phase 3 advancement of rinzimetostat.
Despite ORIC reporting "compelling" Phase 1b data for its lead prostate cancer drug, rinzimetostat, the stock experienced a significant drop of approximately 19% on April 1, 2026, following the announcement of its advancement to a large 600-patient Phase 3 trial, Himalayas-1. This negative market reaction, despite the company's positive framing of selecting the Recommended Phase 3 Dose (RP3D) and initiating the trial in fiscal H1 2026, may stem from concerns about the limited patient dataset (efficacy endpoints reported on 15 patients for PSA50 and 14 patients for ctDNA) underlying the Phase 1b results, implying increased risk for the large and costly Phase 3 study.
2. Increased research and development (R&D) expenses.
ORIC Pharmaceuticals reported an increase in R&D expenses, which rose by $6.8 million from $24.6 million in fiscal Q1 2025 to $31.4 million in fiscal Q1 2026. This increase was primarily attributed to the accelerated advancement of rinzimetostat and enozertinib, contributing to a higher cash burn rate expected in clinical-stage companies. While necessary for pipeline progression, this increased spending, especially in conjunction with the perceived risks of large-scale clinical trials, likely contributed to investor caution.
3. Heightened risk perception of a large Phase 3 trial in a moderated biopharma funding environment.
The initiation of a substantial Phase 3 clinical trial for rinzimetostat, which plans to enroll 600 patients, inherently introduces significant financial and execution risks for a clinical-stage oncology company with no commercial revenue. This capital-intensive undertaking is set against a backdrop where biopharma funding, while still above pre-pandemic levels, has shown moderation between 2024 and 2025. The combination of a large, costly trial and a less exuberant funding environment likely contributed to a de-risking sentiment among investors, further pressuring the stock.
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Stock Movement Drivers
Fundamental Drivers
The -29.1% change in ORIC stock from 2/28/2026 to 6/27/2026 was primarily driven by a -2.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282026 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.45 | 9.53 | -29.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 103 | 105 | -2.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2026 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ORIC | -29.1% | |
| Market (SPY) | 6.6% | 10.6% |
| Sector (XLV) | 0.5% | 6.5% |
Fundamental Drivers
The -19.8% change in ORIC stock from 11/30/2025 to 6/27/2026 was primarily driven by a -6.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.88 | 9.53 | -19.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 99 | 105 | -6.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
11/30/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ORIC | -19.8% | |
| Market (SPY) | 7.3% | 15.8% |
| Sector (XLV) | 2.6% | 8.9% |
Fundamental Drivers
The 16.6% change in ORIC stock from 5/31/2025 to 6/27/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.17 | 9.53 | 16.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 71 | 105 | -32.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ORIC | 16.6% | |
| Market (SPY) | 25.1% | 18.2% |
| Sector (XLV) | 23.0% | 11.8% |
Fundamental Drivers
The 89.1% change in ORIC stock from 5/31/2023 to 6/27/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.04 | 9.53 | 89.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 45 | 105 | -57.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2023 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ORIC | 89.1% | |
| Market (SPY) | 81.3% | 26.2% |
| Sector (XLV) | 31.9% | 23.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ORIC Return | -57% | -60% | 56% | -12% | 1% | 16% | -72% |
| Peers Return | 43% | -20% | 3% | 78% | -33% | -14% | 20% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| ORIC Win Rate | 25% | 33% | 58% | 50% | 58% | 50% | |
| Peers Win Rate | 46% | 50% | 46% | 58% | 75% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ORIC Max Drawdown | -67% | -85% | -42% | -59% | -66% | -46% | |
| Peers Max Drawdown | -41% | -46% | -34% | -26% | -59% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ATYR, AVLN, CNXU, COAG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)
How Low Can It Go
| Event | ORIC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.4% | -18.8% |
| % Gain to Breakeven | 86.6% | 23.1% |
| Time to Breakeven | 51 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.3% | -7.8% |
| % Gain to Breakeven | 12.7% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -37.4% | -9.5% |
| % Gain to Breakeven | 59.9% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.0% | -6.7% |
| % Gain to Breakeven | 13.6% | 7.1% |
| Time to Breakeven | 6 days | 31 days |
In The Past
ORIC Pharmaceuticals's stock fell -46.4% during the 2025 US Tariff Shock. Such a loss loss requires a 86.6% gain to breakeven.
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| Event | ORIC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.4% | -18.8% |
| % Gain to Breakeven | 86.6% | 23.1% |
| Time to Breakeven | 51 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -37.4% | -9.5% |
| % Gain to Breakeven | 59.9% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
In The Past
ORIC Pharmaceuticals's stock fell -46.4% during the 2025 US Tariff Shock. Such a loss loss requires a 86.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About ORIC Pharmaceuticals (ORIC)
ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative therapies for various cancers. Based in South San Francisco, California, the company's primary mission is to address critical unmet medical needs in oncology, particularly by targeting mechanisms that contribute to cancer resistance.
The company's product pipeline features several promising candidates in clinical development. These include ORIC-533, an orally bioavailable small molecule inhibitor of CD73, being developed to overcome resistance to chemotherapy- and immunotherapy-based treatment regimens. Another key candidate is ORIC-944, an allosteric inhibitor specifically designed for prostate cancer. Additionally, ORIC-114 is a brain-penetrant, orally bioavailable irreversible inhibitor engineered to selectively target epidermal growth factor receptor (EGFR) and human epidermal growth factor receptor 2 (HER2), with high potency towards exon 20 insertion mutations.
Beyond its clinical-stage assets, ORIC Pharmaceuticals is also advancing multiple discovery-stage precision medicines that target other cancer resistance mechanisms. The company's primary customers are patients suffering from various forms of cancer, including those with resistance to current treatments, prostate cancer, and specific EGFR/HER2-mutated tumors. ORIC operates within the global oncology pharmaceutical market, aiming to provide advanced therapeutic solutions to improve patient outcomes.
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- A startup biotech solely focused on cancer drug development, much like an early-stage Genentech or Merck focused only on oncology.
- The oncology research department of a major pharmaceutical company like Pfizer or AstraZeneca, spun out as a clinical-stage startup.
- A specialized R&D engine, relentlessly hunting for the next breakthrough cancer treatments, similar to the advanced oncology divisions of companies like Novartis or Johnson & Johnson.
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- ORIC-533: An orally bioavailable small molecule inhibitor of CD73, developed to counter resistance to chemotherapy and immunotherapy.
- ORIC-944: An allosteric inhibitor specifically developed for prostate cancer.
- ORIC-114: A brain-penetrant, orally bioavailable irreversible inhibitor targeting EGFR and HER2, particularly potent against exon 20 insertion mutations.
- Discovery Stage Precision Medicines: Multiple early-stage medicines in development, focused on targeting other cancer resistance mechanisms.
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ORIC Pharmaceuticals, Inc. (ORIC) is a clinical-stage biopharmaceutical company focused on discovering and developing therapies for the treatment of cancers. As a clinical-stage company, its product candidates (ORIC-533, ORIC-944, and ORIC-114) are still in various phases of clinical development and have not yet been approved for commercial sale. Therefore, ORIC Pharmaceuticals does not currently have major customers who purchase its therapies.
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Jacob Chacko, MD President, Chief Executive Officer and Board Member
Dr. Chacko has served as CEO of ORIC since April 2018. During his tenure, ORIC has raised over $900 million in private and public financing, including its IPO in April 2020, and has advanced four programs into clinical trials. Prior to ORIC, Dr. Chacko was CFO of Ignyta, a Nasdaq-listed precision oncology company acquired by Roche in February 2018 for $1.9 billion. At Ignyta, he helped raise over $500 million in capital and grew the company from fewer than 20 employees and a $50 million enterprise value to 125 employees and a $1.7 billion enterprise value at the time of acquisition. Before Ignyta, Dr. Chacko was an investor at TPG Capital, a global private equity firm, where he helped lead teams that completed acquisitions having an aggregate value of over $10 billion. He previously served on the board of directors of Turning Point Therapeutics (acquired by Bristol Myers Squibb), Bonti (acquired by Allergan), EnvisionRx (acquired by Rite Aid), and RentPath.
Dominic Piscitelli Chief Financial Officer
Mr. Piscitelli joined ORIC in September 2019. Prior to ORIC, he was CFO of AnaptysBio, a NASDAQ-listed biotechnology company, where he helped raise over $500 million in an IPO and follow-on financings. Before AnaptysBio, Mr. Piscitelli was Vice President of Finance, Strategy and Investor Relations at Medivation and played a key role in its acquisition by Pfizer. He also served in roles of increasing responsibility at Astellas Pharma and OSI Pharmaceuticals, playing a significant role in OSI's acquisition by Astellas. He began his career with KPMG and is a certified public accountant.
Pratik Multani, MD Chief Medical Officer
Dr. Multani joined ORIC in September 2018. He brings over 25 years of experience in oncology drug development. Most recently, he served as Chief Medical Officer of Ignyta, which was acquired by Roche, where he led development and regulatory activities for multiple clinical-stage assets, including entrectinib. Prior to Ignyta, he was Chief Medical Officer of Fate Therapeutics, and held leadership positions at Kalypsys, Kanisa, and Salmedix. His early biotech career included involvement with the development of Zevalin® and Rituxan® at Biogen Idec.
Lori Friedman, PhD Chief Scientific Officer
Dr. Friedman brings over 20 years of experience in cancer research. During her 15-year career at Genentech, she held roles of increasing responsibility, most recently as head of translational oncology for Genentech Research and Early Development (gRED), where her team advanced more than 20 programs into clinical development. Prior to Genentech, she held scientific leadership roles at Exelixis.
Kevin Brodbeck, PhD Chief Technical Officer
Prior to joining ORIC, Dr. Brodbeck served as SVP of Technical Operations at Nektar Therapeutics, leading development programs in oncology, immunotherapy, anti-infective, and pain, from early development to commercial. He led Nektar's global CMC development and manufacturing organization and also held product development leadership positions at ALZA and Powderject.
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ORIC Pharmaceuticals (ORIC) faces several key risks inherent to its nature as a clinical-stage biopharmaceutical company focused on developing therapies for cancer. These risks primarily stem from the lengthy, costly, and uncertain process of drug development and regulatory approval.
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Clinical Development Uncertainty and Regulatory Approval Risk
As a clinical-stage company with no approved products, ORIC Pharmaceuticals' success is critically dependent on its product candidates, including ORIC-533, ORIC-944, and ORIC-114, successfully advancing through rigorous and lengthy clinical trials. The path from early-stage data to market approval is uncertain, with no guarantee that future clinical trials will replicate early positive results or demonstrate sufficient safety and efficacy. The regulatory approval processes by authorities like the U.S. Food and Drug Administration (FDA) are complex, time-consuming, and inherently unpredictable. Any delays, setbacks, or failures in clinical trials, or the inability to secure regulatory approvals, could significantly disrupt ORIC's financial projections and timelines, and ultimately impact the company's viability.
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Product Pipeline Dependence and Competitive Landscape
ORIC Pharmaceuticals' future value and growth are heavily reliant on the successful development and eventual commercialization of its relatively limited number of product candidates. The failure of any one of its lead candidates, or significant delays in their development, could have a substantial negative impact on the company, especially given that it currently generates minimal revenue from approved products. Furthermore, the oncology sector, where ORIC operates, is highly competitive. ORIC's drug candidates must demonstrate superior efficacy and safety profiles compared to existing or developing therapies to gain market share. The company also faces risks from "negative readthrough," where adverse news or safety concerns regarding a competitor's drug in a similar class can negatively affect investor perception and the development path for ORIC's own related candidates, as observed with the impact on ORIC-944 (rinzimetostat) following a competitor's drug withdrawal.
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Financial Strain and Funding Requirements
Drug discovery and development are capital-intensive undertakings. As a clinical-stage company, ORIC Pharmaceuticals currently incurs significant research and development expenses without corresponding revenue from product sales, leading to negative free cash flow and net losses. While the company has raised capital, continued high R&D spending and the extensive costs associated with ongoing and future clinical trials mean that ORIC may need to raise additional capital in the future, which could lead to dilution of existing shareholders' equity. The ability to secure sufficient funding is crucial to sustain its operations and advance its pipeline through the various stages of development to potential commercialization.
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ORIC Pharmaceuticals develops therapies for various cancers, with its main products targeting specific market opportunities:
- ORIC-533: This orally bioavailable small molecule inhibitor of CD73 is being developed for relapsed or refractory multiple myeloma. The estimated annual global revenue for ORIC-533 is projected to reach approximately $261 million by 2035.
- ORIC-944: As an allosteric inhibitor for prostate cancer, ORIC-944 targets the metastatic castration-resistant prostate cancer (mCRPC) market. The total market size for mCRPC in the 7 Major Markets (7MM), which includes the United States, EU4 (Germany, France, Italy, and Spain), and Japan, was estimated to be nearly $7 billion in 2023. The metastatic prostate cancer market globally is projected to grow to $13.16 billion by 2030.
- ORIC-114: This brain-penetrant inhibitor targets epidermal growth factor receptor (EGFR) and human epidermal growth factor receptor 2 (HER2) with high potency towards exon 20 insertion mutations, primarily in non-small cell lung cancer (NSCLC).
- For EGFR-NSCLC, the total market size in the United States was estimated to be nearly $3.3 billion in 2024, while the total market size in the 7MM was approximately $6 billion in the same year. The global EGFR+ NSCLC market is estimated at $15.60 billion in 2025 and is expected to reach $32.83 billion by 2032.
- For HER2+ NSCLC, the market in the 7MM was approximately $850 million in 2023 and is expected to increase to approximately $3.11 billion by 2036. The U.S. alone accounted for about $540 million of the HER2+ NSCLC market in 2023.
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Here are 3-5 expected drivers of future revenue growth for ORIC Pharmaceuticals (ORIC) over the next 2-3 years:
- Successful Advancement and Potential Commercialization of Rinzimetostat (ORIC-944) for Metastatic Castration-Resistant Prostate Cancer (mCRPC): ORIC Pharmaceuticals expects to initiate its first global Phase 3 registrational trial for rinzimetostat (ORIC-944) in mCRPC in the first half of 2026. This program has shown encouraging early data from its Phase 1b trial, demonstrating synergistic activity when combined with AR inhibitors. The company has also entered into clinical trial collaborations with Bayer and Johnson & Johnson to support the evaluation of ORIC-944 with their respective AR inhibitors, which could lead to future revenue streams through milestones or royalties if successful.
- Successful Advancement and Potential Commercialization of Enozertinib (ORIC-114) for Non-Small Cell Lung Cancer (NSCLC) with EGFR Exon 20 Insertion Mutations: A Phase 3 trial for enozertinib (ORIC-114) is planned for 2026, focusing on first-line treatment settings for NSCLC patients with EGFR exon 20 insertion mutations. Early Phase 1b data for enozertinib has demonstrated strong systemic activity and a 100% intracranial overall response rate in measurable central nervous system (CNS) disease, suggesting a potential best-in-class profile. Analysts have identified a promising market opportunity for enozertinib, estimated at $3.0 to $3.5 billion annually for key patient cohorts in the U.S. ORIC has also established a clinical trial collaboration and supply agreement with Johnson & Johnson to evaluate ORIC-114 in combination with subcutaneous amivantamab for this indication.
- Milestone Payments from Strategic Collaborations: As a clinical-stage biopharmaceutical company, ORIC Pharmaceuticals relies on collaborations to advance its pipeline. The company has existing license agreements with Voronoi, Inc. and Mirati Therapeutics, Inc., as well as clinical trial collaborations with Bayer and Johnson & Johnson for ORIC-944 and Johnson & Johnson for ORIC-114. Successful progression of its drug candidates through various clinical stages can trigger milestone payments from these partnerships, contributing to its revenue.
- Advancement of ORIC-533 for Multiple Myeloma: ORIC-533, an orally bioavailable small molecule inhibitor of CD73, is being developed for relapsed or refractory multiple myeloma. Preclinical data has demonstrated ORIC-533's potential as a best-in-class CD73 inhibitor. A collaboration with Pfizer aims to potentially advance ORIC-533 into a Phase 2 combination study with elranatamab, Pfizer's investigational BCMA CD3-targeted bispecific antibody. While direct product revenue from ORIC-533 is projected further out (e.g., $261 million by 2035 globally), continued positive clinical development could generate milestone payments or attract further strategic investments in the near term.
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Share Issuance
- In February 2026, ORIC Pharmaceuticals renewed an at-the-market (ATM) stock offering, enabling the sale of up to $200.0 million in common shares. The company had previously raised $139.7 million under a 2024 prospectus supplement.
- In May 2025, the company completed a private placement financing, selling approximately 19.2 million shares of common stock (or pre-funded warrants) for gross proceeds of about $125 million.
- In 2023, ORIC Pharmaceuticals completed two PIPE (Private Investment in Public Equity) financings, securing a total of $210 million from top-tier healthcare specialist funds. The company also raised $125 million in a private placement in January 2024.
Inbound Investments
- In May 2025, ORIC Pharmaceuticals secured a $125 million private placement financing. This investment was led by SR One and included participation from other institutional investors such as Point72, Viking Global Investors, Venrock Healthcare Capital Partners, NEA, Nextech, Vivo Capital, and NEXTBio Capital.
- The company received $210 million from two private placement financings in 2023, contributed by top-tier healthcare specialist funds.
- An additional private placement financing in January 2024 raised $125 million from the sale of 12.5 million shares of common stock.
Capital Expenditures
- In the last 12 months for which data was available (likely late 2025/early 2026), capital expenditures for ORIC Pharmaceuticals were approximately $712,000.
- The primary focus of capital allocation for the company is on research and development (R&D) and advancing its clinical-stage product candidates. For example, R&D expenses were $85.2 million for the year ended December 31, 2023, and $109.8 million for the year ended December 31, 2025.
Latest Trefis Analyses
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| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 20.84 |
| Mkt Cap | 62.9 |
| Rev LTM | 0 |
| Op Inc LTM | -5 |
| FCF LTM | -4 |
| FCF 3Y Avg | 935 |
| CFO LTM | -4 |
| CFO 3Y Avg | 1,147 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.1% |
| Rev Chg 3Y Avg | 9.9% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 605.9% |
| Op Inc Chg 3Y Avg | 172.3% |
| Op Mgn LTM | 38.2% |
| Op Mgn 3Y Avg | 24.1% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 34.7% |
| CFO/Rev 3Y Avg | 21.5% |
| FCF/Rev LTM | 30.4% |
| FCF/Rev 3Y Avg | 17.7% |
Price Behavior
| Market Price | $9.53 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 04/24/2020 | |
| Distance from 52W High | -33.9% | |
| 50 Days | 200 Days | |
| DMA Price | $8.93 | $10.67 |
| DMA Trend | down | down |
| Distance from DMA | 6.8% | -10.6% |
| 3M | 1YR | |
| Volatility | 113.0% | 80.6% |
| Downside Capture | 107.55 | 146.90 |
| Upside Capture | -27.57 | 105.53 |
| Correlation (SPY) | 12.3% | 17.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 0.80 | 0.60 | 1.12 | 1.17 | 1.41 |
| Up Beta | -0.15 | -0.80 | -0.10 | 0.42 | 0.44 | 1.25 |
| Down Beta | 0.03 | 0.69 | 1.14 | 1.17 | 0.85 | 1.51 |
| Up Capture | -35% | -58% | -49% | 58% | 139% | 254% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 7 | 17 | 28 | 51 | 113 | 358 |
| Down Capture | 434% | 524% | 166% | 166% | 144% | 109% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 12 | 23 | 32 | 68 | 129 | 377 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ORIC | |
|---|---|---|---|---|
| ORIC | -6.9% | 80.5% | 0.29 | - |
| Sector ETF (XLV) | 21.4% | 15.4% | 1.06 | 11.0% |
| Equity (SPY) | 21.2% | 12.4% | 1.26 | 17.5% |
| Gold (GLD) | 21.8% | 27.7% | 0.70 | 3.0% |
| Commodities (DBC) | 21.8% | 18.6% | 0.92 | 2.7% |
| Real Estate (VNQ) | 16.1% | 13.6% | 0.85 | 13.3% |
| Bitcoin (BTCUSD) | -44.2% | 42.5% | -1.25 | 17.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ORIC | |
|---|---|---|---|---|
| ORIC | -13.8% | 89.9% | 0.24 | - |
| Sector ETF (XLV) | 7.0% | 14.8% | 0.29 | 18.2% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 21.7% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 2.4% |
| Commodities (DBC) | 7.4% | 19.5% | 0.28 | 1.2% |
| Real Estate (VNQ) | 3.4% | 18.9% | 0.08 | 21.7% |
| Bitcoin (BTCUSD) | 10.9% | 54.0% | 0.39 | 13.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ORIC | |
|---|---|---|---|---|
| ORIC | -9.5% | 87.9% | 0.21 | - |
| Sector ETF (XLV) | 10.4% | 16.6% | 0.51 | 17.9% |
| Equity (SPY) | 15.2% | 18.0% | 0.72 | 21.1% |
| Gold (GLD) | 11.8% | 16.1% | 0.60 | 2.7% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 2.6% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 19.4% |
| Bitcoin (BTCUSD) | 54.7% | 66.4% | 0.95 | 11.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/22/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -0.6% | -6.6% | -18.6% |
| 2/23/2026 | 14.6% | 18.5% | -5.2% |
| 11/13/2025 | 0.5% | -5.8% | -25.2% |
| 8/12/2025 | 3.3% | 0.8% | 14.1% |
| 5/5/2025 | -11.6% | -5.1% | 59.3% |
| 2/18/2025 | 1.1% | 2.9% | -4.8% |
| 11/12/2024 | 0.1% | -13.4% | -17.8% |
| 8/12/2024 | 6.8% | 22.0% | 19.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 15 | 14 |
| # Negative | 10 | 12 | 13 |
| Median Positive | 3.7% | 9.1% | 26.5% |
| Median Negative | -1.6% | -5.5% | -17.8% |
| Max Positive | 14.6% | 29.6% | 65.6% |
| Max Negative | -28.7% | -21.7% | -41.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -0.6% | -6.6% | -18.6% |
| 2/23/2026 | 14.6% | 18.5% | -5.2% |
| 11/13/2025 | 0.5% | -5.8% | -25.2% |
| 8/12/2025 | 3.3% | 0.8% | 14.1% |
| 5/5/2025 | -11.6% | -5.1% | 59.3% |
| 2/18/2025 | 1.1% | 2.9% | -4.8% |
| 11/12/2024 | 0.1% | -13.4% | -17.8% |
| 8/12/2024 | 6.8% | 22.0% | 19.6% |
| 5/6/2024 | 2.6% | -4.3% | -2.1% |
| 3/11/2024 | -4.5% | -2.1% | -33.3% |
| 1/9/2024 | 0.1% | 1.2% | 52.9% |
| 11/6/2023 | -0.7% | -11.2% | 29.7% |
| 8/10/2023 | 11.0% | 7.3% | 11.7% |
| 5/8/2023 | -2.5% | -1.0% | 9.0% |
| 3/16/2023 | -8.6% | 4.2% | 23.2% |
| 1/9/2023 | -0.5% | 4.8% | -0.9% |
| 11/7/2022 | 3.7% | 27.0% | 36.5% |
| 8/11/2022 | 4.5% | -1.5% | -26.3% |
| 5/9/2022 | 5.2% | 29.6% | 65.6% |
| 3/21/2022 | -28.7% | -21.7% | -41.8% |
| 1/10/2022 | -0.3% | -10.7% | -38.3% |
| 11/8/2021 | 8.4% | 9.1% | -6.0% |
| 8/10/2021 | 7.0% | 17.8% | 42.0% |
| 5/6/2021 | 0.0% | 1.6% | -8.6% |
| 1/11/2021 | 1.7% | 15.5% | 11.1% |
| 11/5/2020 | -0.0% | -0.1% | 51.2% |
| 8/5/2020 | 14.1% | 14.9% | 10.2% |
| SUMMARY STATS | |||
| # Positive | 17 | 15 | 14 |
| # Negative | 10 | 12 | 13 |
| Median Positive | 3.7% | 9.1% | 26.5% |
| Median Negative | -1.6% | -5.5% | -17.8% |
| Max Positive | 14.6% | 29.6% | 65.6% |
| Max Negative | -28.7% | -21.7% | -41.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 03/21/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/10/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 03/23/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/20/2020 | 10-Q |
| 12/31/2019 | 04/24/2020 | 424B4 |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 2262026 | 13.51 | 52,000 | 702,686 | 920,898 | Form |
| 2 | Heyman, Richard A | Direct | Sell | 1202026 | 12.00 | 3,500 | 42,016 | 501,792 | Form | |
| 3 | Heyman, Richard A | See footnote | Sell | 1202026 | 12.00 | 3,200 | 38,415 | 2,557,844 | Form | |
| 4 | Multani, Pratik S | Chief Medical Officer | Direct | Sell | 12172025 | 9.06 | 10,720 | 97,129 | 617,464 | Form |
| 5 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 12172025 | 9.06 | 10,720 | 97,127 | 617,448 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 2262026 | 13.51 | 52,000 | 702,686 | 920,898 | Form |
| 2 | Heyman, Richard A | Direct | Sell | 1202026 | 12.00 | 3,500 | 42,016 | 501,792 | Form | |
| 3 | Heyman, Richard A | See footnote | Sell | 1202026 | 12.00 | 3,200 | 38,415 | 2,557,844 | Form | |
| 4 | Multani, Pratik S | Chief Medical Officer | Direct | Sell | 12172025 | 9.06 | 10,720 | 97,129 | 617,464 | Form |
| 5 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 12172025 | 9.06 | 10,720 | 97,127 | 617,448 | Form |
| 6 | Chacko, Jacob | PRESIDENT AND CEO | Direct | Sell | 12172025 | 9.06 | 33,374 | 302,368 | 5,270,302 | Form |
| 7 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 10082025 | 14.52 | 11,000 | 159,719 | 701,558 | Form |
| 8 | Chacko, Jacob | PRESIDENT AND CEO | Direct | Sell | 10082025 | 12.32 | 37,461 | 461,520 | 6,547,082 | Form |
| 9 | Chacko, Jacob | PRESIDENT AND CEO | Direct | Sell | 10022025 | 12.05 | 53,001 | 638,805 | 6,856,540 | Form |
| 10 | Chacko, Jacob | PRESIDENT AND CEO | Direct | Sell | 10022025 | 12.01 | 34,538 | 414,750 | 7,467,858 | Form |
| 11 | Chacko, Jacob | PRESIDENT AND CEO | Direct | Sell | 9242025 | 10.80 | 125,000 | 1,349,938 | 7,088,997 | Form |
| 12 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 7022025 | 10.05 | 20,000 | 200,972 | 485,518 | Form |
| 13 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6242025 | 10.50 | 32,466 | 341,039 | 717,636 | Form |
| 14 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6242025 | 10.00 | 1,034 | 10,344 | 1,008,269 | Form |
| 15 | You, Angie | Direct | Buy | 6232025 | 9.43 | 1,403 | 13,230 | 264,040 | Form | |
| 16 | You, Angie | Direct | Buy | 6232025 | 9.39 | 26,597 | 249,669 | 249,669 | Form | |
| 17 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6132025 | 10.00 | 300 | 3,000 | 1,018,170 | Form |
| 18 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6112025 | 10.01 | 2,976 | 29,777 | 1,021,753 | Form |
| 19 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6112025 | 10.00 | 324 | 3,240 | 1,050,930 | Form |
| 20 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6092025 | 10.00 | 300 | 3,000 | 1,038,640 | Form |
| 21 | Piscitelli, Dominic | Chief Financial Officer | Direct | Sell | 6092025 | 10.01 | 2,600 | 26,021 | 1,042,494 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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