ORICNasdaqPharmaceutical PreparationsUS GAAP · USD

Oric Pharmaceuticals, Inc.

ORIC Pharmaceuticals is a U.S.-based clinical-stage biopharmaceutical company focused on discovering and developing cancer therapies designed to overcome treatment resistance. Its pipeline centers on oncology programs in hormone-dependent cancers, precision oncology, and key tumor dependencies, with development activities run from its South San Francisco headquarters.

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Operating profit (EBIT)-143m USD
−0.1 %y/y
Net income-129m USD
−1.3 %y/y
Free cash flow-112m USD
+1.9 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-150-100-500m USD2020: EBIT -74 m USD20202021: EBIT -79 m USD20212022: EBIT -92 m USD20222023: EBIT -111 m USD20232024: EBIT -143 m USD20242025: EBIT -143 m USD2025-143
RevenueOperating profit (EBIT)

Business

Share of revenue
Clinical-stage oncology programs100 %

Investigational drug candidates in human clinical trials for cancer.

Preclinical discovery pipeline0 %

Earlier-stage internal and in-licensed programs aimed at resistance mechanisms.

Customers

ORIC does not sell commercial products today; its direct counterparties are clinical trial sites, research collaborators, licensors, and contract service providers that support drug development. If approved in the future, its end customers would be patients treated by oncologists and the healthcare systems that reimburse specialty cancer medicines.

Clinical trial collaborators

Hospitals, investigators, and research networks that enroll patients and run ORIC-sponsored studies.

Pharmaceutical partners

Companies such as Johnson & Johnson and Bayer that supply combination agents and support studies.

Licensors and biotech counterparties

Owners of external programs that ORIC in-licenses to expand its pipeline.

Future oncology patients

Patients with resistant cancers who would use ORIC therapies if approved.

Strategy

ORIC’s strategy is to concentrate resources on a small number of differentiated oncology assets, especially ORIC-944 and ORIC-114, where it believes resistance biology can create clinical value. It also uses business development to add external programs and partnerships, while leveraging combination studies to strengthen the development path for its lead candidates.

Advance ORIC-944 through late-stage developmentShort term

This is a lead asset in resistant prostate cancer and a core value driver.

Develop ORIC-114 as a precision oncology programMedium term

It broadens the pipeline beyond hormone-dependent cancers and targets resistant mutations.

Use business development to expand the pipelineMedium term

External innovation can add assets without relying only on internal discovery.

Geography

ORIC is headquartered in South San Francisco, California and operates as a U.S.-based development company. Its business is primarily tied to U.S. clinical development, regulatory review, and collaboration with global pharmaceutical partners, while future commercialization would likely extend into major oncology markets outside the United States if products are approved.

Risks

ORIC is a clinical-stage company with no commercial revenue, so its value depends heavily on successful clinical development, regulatory approval, and future financing. Its programs face the usual oncology risks of trial failure, safety issues, competition, and dependence on third-party collaborators, suppliers, and licensors.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Capital dependence1Clinical development failure2Third-party reliance3Competitive pressure4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Capital dependenceImpact: CriticalLikelihood: High

    The company has no revenue and must fund long development timelines.

    Exposure: Corporate-wide

  2. Clinical development failureImpact: CriticalLikelihood: Medium

    Lead programs may not demonstrate sufficient safety or efficacy in trials.

    ExposureORIC-944ORIC-114ORIC-533
  3. Third-party relianceImpact: HighLikelihood: Medium

    Trials, manufacturing, and combination studies depend on external partners and suppliers.

    ExposureCROsCMOsLicensorsPharma collaborators
  4. Competitive pressureImpact: HighLikelihood: Medium

    Large oncology companies can move faster, fund more studies, and reach patients sooner.

    Exposure: Prostate cancer and precision oncology

Accounting

Judgemental items
Research and development expense recognition

Clinical-stage spending is recognized as incurred and drives most reported costs.

Impact: Affects operating loss and comparability across periods

Stock-based compensation

Employee and director equity awards are a meaningful non-cash expense for biotech firms.

Impact: Affects operating expenses and net loss

Clinical trial accruals

Estimated site, CRO, and vendor costs require judgment and can be trued up later.

Impact: Affects R&D expense timing

Investment valuation and maturities

Cash management and marketable securities affect liquidity and interest income.

Impact: Affects balance sheet and other income

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Last updated: 24/09/2026