ORIC Pharmaceuticals Inc. (ORIC) stock soared 7.21% in Tuesday's trading session, following the company's announcement of focused registrational clinical development plans for its lead programs, ORIC-944 and ORIC-114, and an extension of its projected cash runway into 2027.

In the press release, ORIC outlined its plans to prioritize the development of ORIC-944, a PRC2 inhibitor for metastatic castration-resistant prostate cancer (mCRPC), and ORIC-114, an EGFR/HER2 inhibitor for non-small cell lung cancer (NSCLC). Specifically, the company expects to initiate the first Phase 3 trial for ORIC-944 in mCRPC in the first half of 2026, and plans to initiate Phase 3 trial(s) for ORIC-114 in first-line NSCLC in 2026, focusing on EGFR exon 20, HER2 exon 20, and atypical EGFR mutations.

Additionally, ORIC announced accelerated and augmented corporate milestones, including combination dose escalation data for ORIC-944 in mCRPC expected in the first and second halves of 2025, and comprehensive NSCLC data for ORIC-114 expected in the second half of 2025, which includes first-line EGFR exon 20. The company's projected cash runway has been extended into 2027 under the refined operating plan.