ORIC Enters Into Clinical Trial Collaboration And Supply Agreements With Bayer and J&J; Stock Up

(RTTNews) - ORIC Pharmaceuticals, Inc. (ORIC) announced that it has entered into clinical trial collaboration and supply agreements with Bayer and Janssen Research & Development, LLC, a Johnson & Johnson company, to evaluate ORIC-944 in combination with NUBEQA, Bayer's androgen receptor (AR) inhibitor, and ERLEADA, Johnson & Johnson's AR inhibitor.

ORIC closed Tuesday's regular trading at $10.99 up $0.24 or 2.23%. In the after-hours trading, the stock further gained $1.08 or 9.83%.

ORIC said it initiated dosing of ORIC-944, a potent and selective allosteric inhibitor of PRC2, in combination with darolutamide as well as in combination with apalutamide, in the first half of 2024 as part of the ongoing Phase 1b trial in patients with metastatic prostate cancer. Each combination cohort includes a dose escalation and expansion portion, evaluating the combination of ORIC-944 and NUBEQA (darolutamide) or ORIC-944 and ERLEADA (apalutamide).

As per the terms of the collaborations, ORIC will continue to conduct and sponsor the ongoing Phase 1b trial, and Bayer and Johnson & Johnson will provide darolutamide and apalutamide, respectively, for the study. ORIC maintains full global development and commercial rights to ORIC-944.