ORIC Pharmaceuticals Inc. (NASDAQ:ORIC) surged during Tuesday's session before pulling back sharply in after-hours trading following the release of new clinical data for its lead drug candidate.

ORIC closed the regular session up 3.94% at $12.67 but fell 24.86% after hours to $9.52.

Overview

ORIC Pharmaceuticals is a clinical-stage biotech company focused on developing therapies to overcome resistance in cancer treatment. The stock has gained over 120% in the past year, trading between a 52-week low of $3.90 and a high of $14.93.

Clinical Data Catalyst

The company reported updated Phase 1b data for rinzimetostat (ORIC-944) in combination with darolutamide for patients with metastatic castration-resistant prostate cancer. At a median follow-up of approximately five months, the treatment demonstrated a radiographic progression-free survival rate of 84%, alongside favorable safety outcomes.

Phase 3 Progression

ORIC also selected a 400 mg once-daily dose as the recommended Phase 3 dose and said it expects to initiate its global Phase 3 Himalayas-1 trial in the first half of 2026. The study is expected to enroll approximately 600 patients across more than 20 countries.

Mixed Market Reaction

Despite the positive data and advancement toward a late-stage trial, shares declined in after-hours trading, suggesting investor caution around early-stage results or profit-taking following the recent run-up.

Trading Metrics

ORIC Pharmaceuticals has a market capitalization of approximately $1.27 billion. The stock's 52-week high is $14.93, and its 52-week low is $3.90.

Benzinga Edge Rankings indicate ORIC Pharmaceuticals stock shows positive price trends across short, medium and long-term periods.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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