ORIC Pharmaceuticals Announces Closing of Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional ...
November 17 2020 - 4:15PM
ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage
oncology company focused on developing treatments that address
mechanisms of therapeutic resistance, today announced the closing
of its previously announced underwritten public offering of
5,796,000 shares of its common stock, which includes the exercise
in full of the underwriters’ option to purchase 756,000 additional
shares of its common stock, at a price to the public of $23.00 per
share. The gross proceeds to ORIC from the offering were
approximately $133.3 million, before deducting underwriting
discounts and commissions and estimated offering expenses.
J.P. Morgan Securities LLC,
Citigroup, Jefferies LLC and Guggenheim Securities acted as
joint book-running managers for the offering. Oppenheimer & Co.
Inc. acted as lead manager for the offering.
The offering is made only by means of a
prospectus, copies of which may be obtained from: J.P. Morgan
Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at (866) 803-9204 or by email
at prospectus-eq_fi@jpmchase.com; Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by telephone at
(800) 831-9146; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at (877) 821-7388
or by email at Prospectus_Department@Jefferies.com;
or Guggenheim Securities, LLC, Attention: Equity
Syndicate Department, 330 Madison, 8th Floor, New York,
NY 10017, by telephone at (212) 518-9658 or by email
at GSEquityProspectusDelivery@guggenheimpartners.com.
Registration statements relating to the
securities have been filed with the Securities and Exchange
Commission and have become effective. A copy of the registration
statement can be accessed through the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About ORIC Pharmaceuticals,
Inc.
ORIC Pharmaceuticals is a clinical stage
biopharmaceutical company dedicated to improving patients’ lives by
Overcoming Resistance In Cancer. ORIC’s lead product candidate,
ORIC-101, is a potent and selective small molecule antagonist of
the glucocorticoid receptor, which has been linked to resistance to
multiple classes of cancer therapeutics across a variety of solid
tumors. ORIC-101 is currently in two separate Phase 1b trials of
ORIC-101 in combination with (1) Xtandi (enzalutamide) in
metastatic prostate cancer and (2) Abraxane (nab-paclitaxel) in
advanced or metastatic solid tumors. ORIC’s other product
candidates include (1) ORIC-533, an orally bioavailable small
molecule inhibitor of CD73, a key node in the adenosine pathway
believed to play a central role in resistance to chemotherapy- and
immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric
inhibitor of the polycomb repressive complex 2 (PRC2) via the EED
subunit, being developed for prostate cancer, and (3) ORIC-114, a
brain penetrant inhibitor designed to selectively target EGFR and
HER2 with high potency against exon 20 insertion mutations, being
developed across multiple genetically defined cancers. Beyond these
four product candidates, ORIC is also developing multiple precision
medicines targeting other hallmark cancer resistance mechanisms.
ORIC has offices in South San Francisco and San Diego,
California.
For more information, please contact:
Dominic Piscitelli, Chief Financial
Officerdominic.piscitelli@oricpharma.cominfo@oricpharma.com
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