Oric Pharmaceuticals Inc. is quitting development of ORIC-101 after interim analyses of two phase Ib studies concluded that the clinical activity does not justify going forward with the compound. The company was testing ORIC-101, a glucocorticoid receptor antagonist, combined with Abraxane in various solid tumors and paired with Xtandi in metastatic prostate cancer.
Oric Pharmaceuticals Inc. stepped into a tough economic climate on Friday when it priced its IPO of 7.5 million shares of common stock at $16 each and won the day as shares (NASDAQ:ORIC) closed at $25.77 each, 61.06% higher than they started.
