Oric Pharmaceuticals Inc (ORIC) News & EventsORICOric Pharmaceuticals Inc

Nasdaq Hits Record Highs, S&P 500 Up 0.7%

Broad-based strength in the mega-cap tech space - in spite of continued upward pressure in Treasury yields - helped the Nasdaq Composite to fresh record highs on Monday and also lifted S&P 500 by 0.7%. Among the Mag-7, Nvidia, Metaand Teslawere up by about 2%. Computer Hardware stocks like Seagateand Western Digitalwere also notably higher, rising 4% and 6%, respectively. Rate sensitive sectors lagged, with Real Estate and Utilities finishing the day as the two worst performing areas of the market as the yield on the 10-year benchmark closed at the highs and above 5.3% for the first time since 2002.In the opening hour of the evening session, S&P e-minis and Nasdaq 100 contracts are up by about a decimal. WTI Crude Oil is down for the third straight session to trade below $90 per barrel as more constructive reports of traffic navigating the Strait of Hormuz and reports of a G7 supply release supercede the absence of a U.S.-Iran resolution.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Option Care Healthup 21.0% after FT report company is under takeover interest from McKesson and PE partnerFreshworksup 4.3% after admission into S&P SmallCap 600 indexLeonardo DRSup 1.8% after completing training, delivery for INOD Block III to Australian ArmyXenon Pharmaceuticalsup 1.7% after being started with Buy at GuggenheimORIC Pharmaceuticalsup 1.5% after entering pact with Cancer Research UK to advance ORIC-259Pinterestup 1.0% after naming new CFOLOWER -NeoGenomicsdown 3.1% after Q3 pre-announcement, CEO transitionTORM plcdown 1.4% after equity offering

Oric Pharmaceuticals Partners with Cancer Research UK to Advance ORIC-259 Clinical Development

Oric Pharmaceuticals announced an agreement with Cancer Research UK to advance a potential CIP2A-targeted therapy into clinical development. Under the agreement, Cancer Research UK's Centre for Drug Development, or CDD, will fully fund, sponsor, design, and execute CTA-enabling studies and early clinical development of ORIC-259 for patients with cancer. ORIC retains an option to reacquire rights to ORIC-259 following Phase 1/2 data, with Cancer Research UK eligible to receive downstream milestone payments and royalties. Cancerous Inhibitor of PP2A is a protein that contributes to the development and progression of many cancer types due to its role in protein phosphorylation, mitosis, and DNA damage response. ORIC-259 is a potent, selective, orally bioavailable small molecule degrader of CIP2A mRNA.

ORIC Initiates Himalayas-1 Trial, Advancing Prostate Cancer Treatment

"The recent initiation of Himalayas-1, a global Phase 3 registrational trial, brings us closer to delivering a potentially practice-changing therapy for patients with prostate cancer," said Jacob M. Chacko, president and chief executive officer. "With rinzimetostat now in Phase 3 and enozertinib approaching a key clinical update in the second half of the year, ORIC has become a diversified, late-stage oncology company with multiple opportunities to create meaningful value for patients while advancing our mission of Overcoming Resistance In Cancer."