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ORIC Pharmaceuticals Starts U.S. IPO Effort

Mar. 04, 2020 9:47 PM ETORIC Pharmaceuticals, Inc. (ORIC)


  • ORIC Pharmaceuticals has filed to raise $100 million in an IPO, although the final figure may differ.
  • The firm is advancing a pipeline of drug treatment candidates for prostate and other cancer conditions.
  • ORIC is still very early stage and won't have next trial results until 2021.
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Quick Take

ORIC Pharmaceuticals (NASDAQ:ORIC) has filed to raise $86.25 million in an IPO of its common stock, according to an S-1 registration statement.

The company is developing drug treatment candidates for prostate cancer and solid tumors.

ORIC is still in early Phase 1 trials for its lead candidate.

I’ll provide an update when we learn more about the IPO’s pricing and valuation assumptions.

Company and Technology

South San Francisco, California-based ORIC was founded to develop small molecule antagonists of the glucocorticoid receptor to treat various solid tumors.

Management is headed by Chief Executive Officer Mr. Jacob Chacko, M.D., who has been with the firm since May 2019 and was previously CFO at Ignyta, a precision oncology firm that was acquired by Roche Holding (OTCQX:RHHBY) in 2018.

Below is a brief overview video of treatment options for prostate cancer:

Source: Cancer Research UK

The company's lead candidate is ORIC-101, a 'nuclear hormone receptor that mediates responses to glucocorticoid hormones involved in regulating a range of cellular functions, such as metabolism, cell growth and differentiation.'ORIC-101 promises to inhibit certain cancer cell activity and 'block pro-survival signals downstream of its activation that confer resistance to anti-androgen therapies and chemotherapies.'

Below is the current status of the company’s drug development pipeline:

Source: S-1

Investors in the firm have invested at least $178 million and include The Column Group, Topspin Capital, OrbiMed, and EcoR1.

Market and Competition

According to a 2017 market research report by Grand View Research, the market for prostate cancer therapeutics is expected to reach $12 billion in size by 2025.

There are many drugs in various stages of development, some of which are expected to enter the market by 2025; also, some drugs are also going off patent and the market expects providers to develop generic versions quickly thereafter.


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This article was written by

Donovan Jones profile picture

I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Start with a 14-day Free Trial.

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