ORIC Initiates Phase 3 Trial for Prostate Cancer Drug, Secures Bayer Supply Deal
ORIC sits 50% above its 52-week low of $7.23.
Summary
ORIC has started the Himalayas-1 global Phase 3 registrational trial for rinzimetostat in metastatic castration-resistant prostate cancer, a key step toward potential approval. The trial will enroll about 600 patients across 250 sites in 25 countries, with primary endpoint radiographic progression-free survival. Bayer will supply darolutamide at no cost under a clinical collaboration, while ORIC retains full rights to rinzimetostat. This follows positive Phase 1b data and FDA interactions, moving the lead asset into a pivotal study. The Bayer deal reduces trial costs and validates the combination approach. Topline data timing is not yet disclosed, but the trial's initiation marks a major derisking event for the pipeline.
At the time of this announcement, ORIC was trading at $10.85 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $7.23 to $14.93. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.