Oric Pharma Stock Hits 3-Month High On Promising Results In Prostate Cancer Trial

The company also announced a $125 million private placement to fund its upcoming Phase 3 trial for ORIC-944 in metastatic prostate cancer.

Oric Pharmaceuticals' stock hit its highest levels in three months on Thursday after the company unveiled promising preliminary results from its Phase 1b trial of ORIC-944, an AR inhibitor for metastatic castration-resistant prostate cancer (mCRPC).

Shares of the pharma company soared 33.5% to close at $7.97 on Thursday. 

The company said that the trial showed potentially strong performance in both efficacy and safety, as 59% of patients reached a PSA50 response rate. 

This means that over half of the study participants saw an over 50% reduction in prostate-specific antigen (PSA) levels.

Nearly all of these PSA responses were confirmed, and 24% of patients achieved PSA90 responses, indicating a 90% drop in PSA levels.

The drug was tested with two established AR inhibitors — apalutamide (Erleada) and darolutamide (Nubeqa) — and PSA responses were consistent across all doses and both combinations. 

Most patients remained on therapy, with several approaching or surpassing one year of treatment duration.

The safety profile was favorable because most adverse events were categorized as Grade 1 or 2. 

A single Grade 3 diarrhea event occurred, while no Grade 4 or 5 treatment-related events were linked to the medication.

Meanwhile, ORIC also announced a $125 million private placement, which it said would extend its cash runway into the second half of 2027, covering the expected readout of its first global Phase 3 trial in 1H 2026.

The initiation of ORIC's global registrational Phase 3 trial for ORIC-944 is planned for the first half of 2026.

On Stocktwits, retail sentiment was ‘extremely bullish’ amid a 194% surge in 24-hour message volume.

One user expressed optimism about the stock soon reaching $10 again. 

However, another user questioned the private placement, suggesting it might be a setup for short sellers.

They cited concerns over the company’s recent $125 million PIPE financing last year, which was initially expected to last through late 2026. “So, in the period of 12 months, they've diluted the stock with $250 million of new shares.”

The stock has declined 3.5% so far in 2025.

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