ORIC Pharmaceuticals Reports $30M Net Loss in Q1 2025, Increases R&D Spending

ORIC Pharmaceuticals, Inc. reported a net loss of $30.0 million for the first quarter of 2025, compared to a net loss of $25.0 million for the same period in 2024, reflecting an increase in operating expenses driven primarily by higher research and development costs. Total operating expenses for the quarter were $32.7 million, up from $29.0 million year-over-year. The company's accumulated deficit reached $592.8 million as of March 31, 2025. Cash and cash equivalents decreased to $49.3 million from $59.4 million at the end of 2024, while short-term investments also fell to $154.4 million from $196.6 million.

The increase in operating expenses was largely attributed to a rise in research and development expenditures, which totaled $24.6 million for the first quarter of 2025, up from $22.0 million in the prior year. This increase was driven by higher personnel costs and external expenses related to the advancement of the company’s clinical candidates, ORIC-944 and ORIC-114. General and administrative expenses also rose to $8.1 million from $7.0 million, primarily due to increased personnel costs and stock-based compensation.

Strategically, ORIC Pharmaceuticals has been active in advancing its clinical programs. The company is currently conducting Phase 1b trials for both ORIC-944 and ORIC-114, with collaborations established with Janssen Research & Development and Bayer for the evaluation of these candidates in combination with existing therapies. As of March 31, 2025, the company had 71,088,080 shares of common stock outstanding, reflecting a slight increase from the previous quarter.

Looking ahead, ORIC Pharmaceuticals anticipates continued significant losses as it invests in the development of its product candidates. The company expects its existing cash, cash equivalents, and investments will be sufficient to fund operations into 2027. However, it acknowledges the need for additional capital to support ongoing research and development activities, and it may seek to raise funds through equity or debt financing, which could dilute existing shareholders. The company remains focused on advancing its clinical trials and obtaining regulatory approvals for its product candidates, while navigating the complexities of the biopharmaceutical landscape.