Oric Pharmaceuticals Secures $125M in Private Placement

By Ahmed Jameison • Thursday, May 29 10:18 • Permanent Link

Oric Pharmaceuticals, Inc. has recently announced a private placement financing, which is set to raise approximately $125 million. The financing was led by SR One and saw participation from a range of investors including Point72, Viking Global Investors, Venrock Healthcare Capital Partners, New Enterprise Associates (NEA), Nextech, Vivo Capital, and NextBio Capital.

The company is set to sell approximately 19.2 million shares of its common stock at a price of $6.50 per share, representing an 18% premium to Oric’s 10-day trailing volume-weighted average price as of the deal signing on May 23, 2025. The financing is expected to close on May 29, 2025, subject to customary closing conditions.

Oric Pharmaceuticals plans to use the net proceeds from the financing to fund research and development of its clinical-stage product candidates and research programs, as well as for working capital and general corporate purposes. The company anticipates that the gross proceeds, combined with its current cash, cash equivalents, and marketable securities, will be sufficient to fund its current operating plan into the second half of 2027 and through the anticipated primary endpoint readout from the first Oric-944 Phase 3 registrational trial in prostate cancer.

Oric Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing treatments that address mechanisms of therapeutic resistance in cancer. Its clinical stage product candidates include Oric-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and Oric-114, a brain-penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20, and EGFR atypical mutations, being developed across multiple genetically defined cancers. Additionally, the company is developing multiple precision medicines targeting other hallmark cancer resistance mechanisms.

This private placement financing represents a significant milestone for Oric Pharmaceuticals as it seeks to advance its clinical stage product candidates and research programs in the fight against cancer. As a result of these announcements, the company's shares have moved 3.29% on the market, and are now trading at a price of $5.97. Check out the company's full 8-K submission here.

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