Oric Pharmaceuticals Files 2023 Annual Report on Form 10-K

Ticker: ORIC · Form: 10-K · Filed: Mar 11, 2024 · CIK: 1796280

Oric Pharmaceuticals, Inc. 10-K Filing Summary
FieldDetail
CompanyOric Pharmaceuticals, Inc. (ORIC)
Form Type10-K
Filed DateMar 11, 2024
Risk Levelmedium
Pages14
Reading Time17 min
Key Dollar Amounts$0.0001
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Oric Pharmaceuticals, Annual Report, Financials, Biotech

TL;DR

<b>Oric Pharmaceuticals filed its 2023 10-K, detailing its financial status and corporate information.</b>

AI Summary

Oric Pharmaceuticals, Inc. (ORIC) filed a Annual Report (10-K) with the SEC on March 11, 2024. Oric Pharmaceuticals, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and operates in the Pharmaceutical Preparations industry (SIC 2834). Key dates include the filing date of March 11, 2024, and the fiscal year end of December 31, 2023. The filing references various financial instruments and equity events, including common stock, options, and restricted stock units. The company's business address is located at 240 E. Grand Ave., 2nd Floor, South San Francisco, CA 94080.

Why It Matters

For investors and stakeholders tracking Oric Pharmaceuticals, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Oric Pharmaceuticals' financial performance, operational activities, and risk factors for the fiscal year 2023, crucial for investors assessing the company's health and future prospects. The detailed disclosures within the 10-K are essential for regulatory compliance and offer transparency to shareholders and the market regarding the company's financial position, including assets, liabilities, and equity.

Risk Assessment

Risk Level: medium — Oric Pharmaceuticals, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical industry, which is subject to significant regulatory oversight, lengthy development cycles, and high R&D costs, posing inherent risks to financial performance and market valuation.

Analyst Insight

Investors should review the detailed risk factors and financial statements in the 10-K to understand the specific challenges and opportunities facing Oric Pharmaceuticals in the competitive biotech landscape.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-03-11 — Filing Date (Filed as of date)
  • 001-39269 — SEC File Number (SEC file number for the company)
  • 0000950170-24-029298 — Accession Number (Unique identifier for the filing)

Key Players & Entities

  • Oric Pharmaceuticals, Inc. (company) — Filer name
  • 2023-12-31 (date) — Conformed period of report
  • 2024-03-11 (date) — Filed as of date
  • 2834 (industry) — Standard Industrial Classification
  • DE (jurisdiction) — State of incorporation
  • South San Francisco, CA (location) — Business address city and state
  • Mirati Therapeutics Inc (company) — Mentioned in context of private placement common stock
  • Voronoi Inc (company) — Mentioned in context of acquired in-process R&D and private placement common stock

FAQ

When did Oric Pharmaceuticals, Inc. file this 10-K?

Oric Pharmaceuticals, Inc. filed this Annual Report (10-K) with the SEC on March 11, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Oric Pharmaceuticals, Inc. (ORIC).

Where can I read the original 10-K filing from Oric Pharmaceuticals, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Oric Pharmaceuticals, Inc..

What are the key takeaways from Oric Pharmaceuticals, Inc.'s 10-K?

Oric Pharmaceuticals, Inc. filed this 10-K on March 11, 2024. Key takeaways: Oric Pharmaceuticals, Inc. filed its annual report for the fiscal year ended December 31, 2023.. The company is incorporated in Delaware and operates in the Pharmaceutical Preparations industry (SIC 2834).. Key dates include the filing date of March 11, 2024, and the fiscal year end of December 31, 2023..

Is Oric Pharmaceuticals, Inc. a risky investment based on this filing?

Based on this 10-K, Oric Pharmaceuticals, Inc. presents a moderate-risk profile. The company is in the pharmaceutical industry, which is subject to significant regulatory oversight, lengthy development cycles, and high R&D costs, posing inherent risks to financial performance and market valuation.

What should investors do after reading Oric Pharmaceuticals, Inc.'s 10-K?

Investors should review the detailed risk factors and financial statements in the 10-K to understand the specific challenges and opportunities facing Oric Pharmaceuticals in the competitive biotech landscape. The overall sentiment from this filing is neutral.

Risk Factors

  • Regulatory Risks [high — regulatory]: The pharmaceutical industry is subject to extensive regulation by governmental authorities, which can impact product development, manufacturing, marketing, and pricing.
  • Research and Development Expenses [high — financial]: Significant investment in research and development is required, with no assurance of successful commercialization of drug candidates.
  • Dependence on Key Personnel [medium — operational]: The success of the company may depend on the continued service of key scientific and management personnel.
  • Competition [high — market]: The company faces intense competition from other pharmaceutical and biotechnology companies.

Key Dates

  • 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.

Filing Stats: 4,348 words · 17 min read · ~14 pages · Grade level 17.8 · Accepted 2024-03-11 16:20:32

Key Financial Figures

  • $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ORIC The Nasdaq

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 43 Item 1B. Unresolved Staff Comments 94 Item 1C. Cybersecurity 94 Item 2.

Properties

Properties 95 Item 3.

Legal Proceedings

Legal Proceedings 95 Item 4. Mine Safety Disclosures 95 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 96 Item 6. Reserved 96 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 97 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 105 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 106 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 125 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 126 PART III Item 10. Directors, Executive Officers and Corporate Governance 127 Item 11.

Executive Compensation

Executive Compensation 127 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions, and Director Independence 127 Item 14. Principal Accounting Fees and Services 127 PART IV Item 15. Exhibits, Financial Statement Schedules 128 Item 16 Form 10-K Summary 128

SIGNATURES

SIGNATURES 132 i SPECIAL NOTE REGARDING FO RWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our future results of operations and financial position, business strategy, development plans, planned preclinical studies and clinical trials, future results of clinical trials, expected research and development costs, regulatory strategy, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing, progress and results of preclinical studies and clinical trials for ORIC-114, ORIC-944, ORIC-533 and other product candidates we may develop, including statements regarding the timing of initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available, and our research and development programs; the timing, scope and likelihood of regulatory filings and approvals, including timing of Investigational New Drug (IND), or Clinical Trial Application (CTA), applications and final Food and Drug Administration, or FDA, approval of ORIC-114, ORIC-944, ORIC-533 and any other future product candidates; the potential benefits of and activity under the company's collaboration, lic

Bu siness

Item 1. Bu siness. Overview ORIC Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to improving patients' lives by O vercoming R esistance I n C ancer . Profound advancements in oncology drug development have expanded the treatment options available to patients, yet therapeutic resistance and relapse continue to limit the efficacy and duration of clinical benefit of such treatments. Collectively, our founders and management team have a decades-long heritage of identifying and characterizing resistance mechanisms in oncology, having discovered and developed groundbreaking medicines at companies such as Ignyta, Medivation, Aragon and Genentech. Our fully integrated discovery and development team is advancing a diverse pipeline of innovative clinical and discovery stage therapies designed to counter resistance mechanisms in cancer by leveraging our expertise within three specific areas: hormone-dependent cancers, precision oncology and key tumor dependencies. Our clinical stage product candidates include: ORIC-114, a brain penetrant, orally bioavailable, irreversible inhibitor designed to selectively target epidermal growth factor receptor (EGFR) and human epidermal growth factor receptor 2 (HER2) with high potency towards exon 20 insertion mutations, for which we licensed development and commercialization rights from Voronoi Inc. (Voronoi) in October 2020 (Voronoi License Agreement). In the fourth quarter of 2021, we filed a Clinical Trial Application (CTA) in South Korea for ORIC-114, which was cleared in the first quarter of 2022. We also filed and cleared an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA) for ORIC-114 in the third quarter of 2022. We are enrolling a Phase 1b trial of ORIC-114 as a single-agent, in patients with advanced solid tumors with EGFR and HER2 exon 20 alterations, atypical EGFR mutations or HER2 amplifications, and that trial allows patients with CNS metastases th

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