Oric Pharmaceuticals Advances Key Cancer Drug Toward Late-Stage Trials

Shares of Oric Pharmaceuticals Inc (ORIC) experienced a modest decline of 3.2% in today's session, opening at $9.38. This slight pullback occurred despite the biopharmaceutical company recently presenting encouraging Phase 1b clinical data for its drug candidate, enozertinib (ORIC-114). The data, showcased at the ESMO Asia congress, is now fueling discussions about the asset's readiness to progress into pivotal registration studies.

The preliminary results from the ongoing trial demonstrated enozertinib's activity across several non-small cell lung cancer (NSCLC) patient groups with specific genetic mutations.

• In a cohort of first-line (1L) NSCLC patients with EGFR PACC mutations, the investigational therapy achieved a preliminary overall response rate (ORR) of 80%. Notably, for patients with measurable central nervous system (CNS) disease, the intracranial ORR reached 100%.
• For previously treated NSCLC patients harboring PACC mutations, the confirmed ORR was 36%, with a disease control rate of 91%. Importantly, 75% of those who responded remained on the treatment after a median follow-up period exceeding 32 weeks.
• In patients with HER2 exon 20 mutations receiving an 80 mg dose, enozertinib posted an ORR of 35% (26% confirmed) and a 100% disease control rate. The treatment was generally well-tolerated, with most adverse events reported as Grade 1 or 2.

Based on this dataset, Oric has selected the 80 mg once-daily dose for potential advancement into a Phase 3 clinical program.

Strategic Partnerships and Financial Runway

Beyond the monotherapy data, Oric has established a strategic clinical supply agreement with Janssen. The collaboration will evaluate a combination regimen of ORIC-114 with subcutaneous amivantamab for first-line treatment of EGFR exon 20 insertion-positive NSCLC. Initial results from this combination study are anticipated by mid-2026.

Should investors sell immediately? Or is it worth buying Oric Pharmaceuticals Inc?

The company appears to be well-capitalized to execute its development plans. As of September 30, 2025, Oric reported holding approximately $413 million in cash, cash equivalents, and marketable securities. Management believes this provides a sufficient financial runway to fund operations into the second half of 2028.

Upcoming Catalysts and Market Sentiment

The immediate clinical roadmap for Oric includes several key data readouts for both enozertinib and another pipeline asset, ORIC-944, expected by the middle of 2026. The decision to initiate registration-enabling studies for enozertinib in 2026 will be contingent on the outcomes of these upcoming data releases, as well as results from the combination testing.

While the Phase 1b data is promising, analysts note that these are still early results. Definitive conclusions regarding efficacy and safety will require validation in larger, prospectively designed trials. The current analyst consensus rating for Oric Pharmaceuticals stands at "Moderate Buy," with an average price target of around $19.67.