Investing.com -- ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC ) shares soared 20% today after the company announced preliminary efficacy and safety data from its ongoing Phase 1b trial of ORIC-944 in combination with AR inhibitors for the treatment of metastatic castration-resistant prostate cancer (mCRPC). The data indicated substantial clinical activity and a safety profile that supports long-term dosing.

The preliminary results from the trial, which evaluated ORIC-944 in combination with AR inhibitors apalutamide and darolutamide, showed a 59% PSA50 response rate and a 24% PSA90 response rate, with the majority of adverse events being mild to moderate. The company highlighted these findings as potentially positioning ORIC-944 as a best-in-class PRC2 inhibitor.

Cantor Fitzgerald analyst Prakhar Agrawal commented on the results, stating, "Overall, a solid update by ORIC with not much to nitpick on efficacy/safety." Agrawal reiterated an Overweight rating on ORIC Pharmaceuticals, underscoring the data’s favorable comparison to similar drugs and the potential for ORIC-944 to stand out in the prostate cancer treatment landscape.

The trial’s success also coincides with a concurrent $125 million financing announcement, which is expected to extend the company’s cash runway into the second half of 2027. This financial boost is timed to support the anticipated primary endpoint readout from the first Phase 3 registrational trial of ORIC-944 in mCRPC.

Investors are reacting to the promising combination of clinical and financial updates, which suggest a strong path forward for ORIC Pharmaceuticals. The company plans to continue dose exploration through the next three quarters, with the aim of initiating a global Phase 3 registrational trial in the first half of 2026.

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