U.S. oncology firm ORIC lands nasdaq IPO 40% over 40%

25th, CALIFORNIA-based oncology company ORIC Pharmaceuticals announced its official landing on NASDAQ. In early March, it announced an IPO raising $86m. Now it is about 40 per cent above expectations, exceeding its $120m fundraising.The funds raised through the IPO will be mainly used for further clinical development of its research drugs ORIC-101 and ORIC-533. ORIC-101 is an antagonist for glucosal hormones. Studies over the past decade have found that the expression and activity of glucoticoid receptors are associated with resistance to cancer treatment, including various cancer-targeted drugs, chemotherapy and radiotherapy for skin sources. ORIC-101 aims to address tumors that evade anti-androgen therapy by targeting glucosticoid-like (GR) activity, another signaling path that the company believes cancer cells use to bypass the effects of androgen-inhibitors. Currently, the drug is in phase 1b clinical trials, in association with Xtandi (enzalutamide) to treat prostate cancer, and with nab-paclitaxel to treat patients with advanced/metastatic solid tumors. Interim data for the trial are expected to be available in 2021.ORIC-533 is an oral CD73 small molecule inhibitor. CD73 is an enzyme that controls the rate at which extracellular adenosine is produced, and its overexposing is associated with poor prognosis for a variety of cancers, including triple-negative breast cancer, non-small cell lung cancer, melanoma and prostate cancer. ORIC plans to file an IND application for ORIC-533 in 2021. In addition, the company has four preclinical research programs for cancer treatment resistance.In addition, it's worth noting that both of the company's founders are "loud" figures in the field of new drug development: Dr. Charles Sawyers, a professor at the Memorial Sloan-Kettering Cancer Center, MSKCC, who led the discovery and development of a variety of new cancer drugs, including Gleevec. Dr. Scott Lowe, who is also a professor at memorial Sloan-Kettering Cancer Center, has made important contributions to our understanding of the p53 tumor suppression network, as well as to the processes of cancer, cell aging, and tumor cell resistance. (Creating a foreign exchange)