ORIC Pharmaceuticals, Inc., a clinical-stage oncology company, has announced a private placement deal expected to generate gross proceeds of approximately $125 million.The financing, which involves the sale of approximately 19.2 million shares of common stock (or pre-funded warrants), is being conducted with a select group of institutional and accredited healthcare specialist investors.

The price per share is set at $6.50 (or $6.4999 per pre-funded warrant), representing an 18% premium over the company’s 10-day trailing volume-weighted average price as of May 23, 2025. The pre-funded warrants, with an exercise price of $0.0001 per share, are instantly exercisable and will remain so until fully exercised. The deal is anticipated to close on May 29, 2025, pending customary closing conditions.

SR One is leading the financing, with participation from other new and existing institutional investors, including Point72, viking Global Investors, Venrock Healthcare Capital Partners, NEA, Nextech, Vivo Capital, and NEXTBio Capital.

ORIC intends to allocate the net proceeds to further the 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 funds, combined with existing cash, cash equivalents, and marketable securities, will sustain operations into the second half of 2027.This timeline also covers the anticipated primary endpoint readout from the first ORIC-944 Phase 3 registrational trial in prostate cancer.

Regulatory and Forward-Looking Statements

The securities mentioned have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without effective registration or an applicable exemption. ORIC has committed to filing a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) for the resale of the common stock shares and those issuable upon exercise of the pre-funded warrants. Any offering will be made via a prospectus.

ORIC anticipates the gross proceeds from the private placement to be approximately $125 million.

The declaration clarifies that the press release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such actions would be unlawful.

ORIC’s Pipeline and Focus

ORIC Pharmaceuticals is focused on developing treatments that address mechanisms of therapeutic resistance in cancer. Their clinical-stage product candidates include:

• ORIC-944: An allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, currently in development for prostate cancer.
• ORIC-114: A brain-penetrant inhibitor selectively targeting EGFR exon 20, HER2 exon 20, and EGFR atypical mutations, being developed across multiple genetically defined cancers.

The company is also developing precision medicines targeting other hallmark cancer resistance mechanisms.