Oric Pharmaceuticals Files Q2 2024 10-Q

TL;DR

Oric Pharma 10-Q filed: Q2 2024 financials out, showing asset fair values. Check it.

AI Summary

Oric Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial information, including fair value measurements for various assets and liabilities as of June 30, 2024, and December 31, 2023. It also references retained earnings as of June 30, 2023, and accumulated other comprehensive income.

Why It Matters

This filing provides investors with an update on Oric Pharmaceuticals' financial position, including details on asset valuations, which are crucial for understanding the company's financial health and investment potential.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain significant new risk disclosures.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2023-12-31 — Prior Year-End Date (Used for comparative financial analysis in the filing.)

Key Players & Entities

• Oric Pharmaceuticals, Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2023-12-31 (date) — Prior period for financial comparison
• 2023-06-30 (date) — Prior year period for retained earnings comparison

FAQ

Key Financial Figures

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

Filing Documents

• oric-20240630.htm (10-Q) — 1943KB
• oric-ex31_1.htm (EX-31.1) — 16KB
• oric-ex31_2.htm (EX-31.2) — 16KB
• oric-ex32_1.htm (EX-32.1) — 9KB
• oric-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-095467.txt ( ) — 6199KB
• oric-20240630.xsd (EX-101.SCH) — 786KB
• oric-20240630_htm.xml (XML) — 918KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Balance Sheets 3 4 5 6 Notes to Unaudited Financial Statements 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 21 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 76

SIGNATURES

SIGNATURES 77 i SPECIAL NOTE REGARDING FO RWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q contains forward-looking statements. All statements other than statements of historical facts contained in this quarterly report on Form10-Q, 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 quarterly report on Form 10-Q 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 (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

– FINANC IAL INFORMATION

Part I – FINANC IAL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements. ORIC PHARMACEUTICALS, INC. BALANCE SHEETS (in thousands, except share and per share amounts) June 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 49,831 $ 23,384 Short-term investments 236,575 184,803 Prepaid expenses and other current assets 8,193 4,410 Total current assets 294,599 212,597 Long-term investments 22,126 26,852 Property and equipment, net 2,878 2,862 Other assets 9,303 9,696 Total assets $ 328,906 $ 252,007 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,309 $ 944 Accrued liabilities 17,230 19,514 Total current liabilities 19,539 20,458 Other long-term liabilities 6,967 7,461 Total liabilities 26,506 27,919 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 1,000,000,000 shares authorized; 67,672,303 and 54,865,553 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 7 6 Additional paid-in capital 794,550 658,751 Accumulated deficit ( 491,901 ) ( 434,927 ) Accumulated other comprehensive (loss) income ( 256 ) 258 Total stockholders' equity 302,400 224,088 Total liabilities and stockholders' equity $ 328,906 $ 252,007 See accompanying notes to unaudited financial statements. 3 ORIC PHARMACEUTICALS, INC. (Unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 28,940 $ 18,787 $ 50,900 $ 38,303 General and administrative 7,077 6,205 14,107 12,367 Total opera

View Full Filing

View this 10-Q filing on SEC EDGAR