ORIC Pharmaceuticals Reports $36.4 Million Net Loss in Q2 2025, Increases Focus on Key Clinical Programs

ORIC Pharmaceuticals, Inc. reported a net loss of $36.4 million for the second quarter of 2025, compared to a loss of $32.0 million in the same period of 2024, reflecting an increase of $4.4 million year-over-year. For the first half of 2025, the company’s net loss totaled $66.4 million, up from $57.0 million in the prior year. The increase in losses was primarily attributed to higher research and development expenses, which rose to $30.5 million in Q2 2025 from $28.9 million in Q2 2024, driven by increased personnel costs and stock-based compensation. General and administrative expenses also increased, totaling $8.5 million in Q2 2025, compared to $7.1 million in Q2 2024.

In terms of financial position, ORIC Pharmaceuticals reported total assets of $346.9 million as of June 30, 2025, a significant increase from $274.1 million at the end of 2024. This growth was largely due to an increase in cash and cash equivalents, which rose to $75.9 million from $59.4 million, and short-term investments, which increased to $206.6 million from $196.6 million. The company’s accumulated deficit also grew to $629.2 million, reflecting ongoing investments in its clinical programs.

Strategically, ORIC Pharmaceuticals has focused on advancing its lead clinical programs, ORIC-944 and ORIC-114, while announcing a workforce reduction of approximately 20% as part of a strategic pipeline prioritization. This decision aims to concentrate resources on these two key programs, which are in advanced stages of clinical trials. The company expects to incur one-time costs of about $1.9 million related to this workforce reduction, primarily for severance and healthcare benefits.

Operationally, ORIC Pharmaceuticals has made significant strides in its clinical trials. The company is currently conducting Phase 1b trials for both ORIC-944 and ORIC-114, with promising early data reported for both candidates. The company has also entered into collaboration agreements with major pharmaceutical companies, including Johnson & Johnson and Bayer, to evaluate its product candidates in combination with their therapies. As of June 30, 2025, the company had 86.2 million shares outstanding, reflecting an increase from 71.0 million shares at the end of 2024, following recent equity financing activities.

Looking ahead, ORIC Pharmaceuticals anticipates continued significant losses as it progresses through clinical trials and seeks regulatory approvals for its product candidates. The company expects its current cash and investments to fund operations into the second half of 2028, but acknowledges the need for additional capital to support ongoing development efforts. The company remains focused on its strategic initiatives and aims to report updated clinical data for its lead programs in the latter half of 2025.