Oric Pharmaceuticals (ORIC) AI Stock Analysis

• Market Cap: $1.09B
• Dividend Yield: N/A
• Average Volume (3M): 1.49M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.32
• Revenue Growth: N/A
• EPS Growth: 4.29%
• Country: US
• Employees: 122
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.30
• Shares Outstanding: 100,358,240
• 10 Day Avg. Volume: 1,669,727
• 30 Day Avg. Volume: 1,493,846
• PEG Ratio: 0.28
• Price to Book (P/B): 1.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.30
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -3.37K
• Enterprise Value/Ebitda: -8.08
• 1Y Price Target: $20.30
• Price Target Upside: 86.92% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): -1.41
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: $11.00 ▲(1.29% Upside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is primarily supported by a strong, low-leverage balance sheet and reasonable liquidity, but is held back by the lack of revenue, sizable ongoing losses, and sustained cash burn. Technicals are moderately supportive (longer-term averages and MACD), while valuation metrics are challenged by negative earnings and no dividend yield.

Positive Factors

Low leverage and rising asset base

Minimal debt combined with a materially larger asset base into 2025 improves solvency and funding flexibility. This stronger balance sheet supports multi-period R&D spending, lowers bankruptcy risk, and gives management optionality to fund trials or partner programs without immediate reliance on costly debt.

Structural access to equity capital (ATM program)

An active ATM program that has already raised meaningful proceeds and authorizes further issuance provides a durable non-debt financing channel. That structural access to equity capital helps fund clinical programs and milestones over the medium term, reducing short-term liquidity pressure.

Focused oncology R&D targeting resistance

A specialized focus on overcoming treatment resistance targets a clear unmet medical need and differentiates the pipeline. Success here can create high-value assets, attract partnership interest, and sustain long-term commercial relevance given structural demand for therapies addressing refractory cancers.

Negative Factors

No product revenue

As a clinical-stage company with no product revenue, Oric cannot self-fund operations from commercial cash flow. Persistent absence of revenue means long timelines to self-sufficiency and continued dependence on external capital to advance programs, elevating execution and financing risk.

Sustained cash burn

Consistently negative operating and free cash flow, with worsening FCF in 2025, erodes financial cushions and increases funding needs. Elevated burn narrows strategic flexibility, may force prioritization of programs, and raises the probability of additional financing or partnership requirements before revenue generation.

Reliance on equity financing and dilution risk

Heavy use of equity issuance to fund operations dilutes existing shareholders and ties funding capacity to market access. Ongoing reliance on share offerings can compress long-term per-share returns and creates vulnerability if investor appetite weakens during adverse market or clinical developments.

Oric Pharmaceuticals Business Overview & Revenue Model

Company Description

ORIC Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, discovers and develops therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-533, an orally bioavailable small molecule inhibitor of CD73 being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer; and ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations. The company is also developing multiple discovery stage precision medicines targeting other cancer resistance mechanisms. It has a license and collaboration agreement with Voronoi Inc.; and a license agreement with Mirati Therapeutics, Inc. The company was incorporated in 2014 and is headquartered in South San Francisco, California.

How the Company Makes Money

ORIC does not have publicly established recurring revenue from approved commercial products; as a clinical-stage company, its operations have historically been funded primarily through financing activities rather than product sales. Where applicable, ORIC may generate limited revenue via collaborations or licensing arrangements (e.g., upfront payments, research funding reimbursements, and milestone-based payments tied to development, regulatory, or commercialization events), and potentially future royalties on partner sales if any partnered products reach market. Specific current partners, deal terms, and the materiality of collaboration revenue to ORIC’s results are null.

Oric Pharmaceuticals Financial Statement Overview

Summary

Balance sheet strength (minimal debt, positive equity, and higher total assets in 2025) supports funding flexibility, but this is offset by no revenue, widening net losses, and persistently negative operating/free cash flow indicating ongoing funding needs.

Income Statement

The income statement remains weak, with no reported revenue across the period and consistently large operating losses. Losses have generally widened versus earlier years (net loss roughly -$74M in 2020 to about -$129M in 2025), indicating a higher spend profile. A modest positive is that results appear relatively consistent year-to-year for a development-stage biotech, but the absence of revenue and persistent negative profitability are the primary constraints.

Balance Sheet

The balance sheet is a clear strength: the company operates with minimal to no debt (debt-to-equity near zero in most years) and maintains positive equity. Total assets increased meaningfully into 2025 (about $409M vs. ~$274M in 2024), supporting liquidity and funding capacity. The key weakness is ongoing negative returns on equity in prior years (driven by net losses), which can pressure the capital base over time if losses persist.

Cash Flow

Cash flow is pressured by sustained cash burn: operating cash flow and free cash flow are negative every year shown (around -$111M in 2025). Free cash flow deterioration in 2025 versus 2024 suggests burn may be rising rather than stabilizing. A relative positive is that free cash flow broadly tracks net loss (cash usage roughly in line with accounting losses), but the overall profile still indicates ongoing funding needs until revenue ramps.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.22M	-1.11M	-1.03M	0.00	0.00
EBITDA	-128.25M	-126.74M	-109.75M	-85.80M	-77.97M
Net Income	-129.47M	-127.85M	-100.70M	-89.12M	-78.72M
Balance Sheet
Total Assets	411.00M	274.14M	254.69M	250.36M	298.64M
Cash, Cash Equivalents and Short-Term Investments	281.49M	255.96M	208.19M	206.27M	236.98M
Total Debt	11.55M	3.18M	10.21M	12.10M	1.93M
Total Liabilities	26.64M	31.02M	30.60M	28.01M	25.67M
Stockholders Equity	384.36M	243.12M	224.09M	222.35M	272.98M
Cash Flow
Free Cash Flow	-114.08M	-113.85M	-86.54M	-77.22M	-60.48M
Operating Cash Flow	-113.37M	-112.66M	-85.69M	-75.14M	-59.54M
Investing Cash Flow	-148.03M	22.14M	-43.40M	-109.25M	158.44M
Financing Cash Flow	245.26M	126.55M	85.66M	25.23M	49.13M

Oric Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ORIC, the sentiment is Negative. The current price of 10.86 is below the 20-day moving average (MA) of 12.59, below the 50-day MA of 11.47, and below the 200-day MA of 10.96, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 43.11 is Neutral, neither overbought nor oversold. The STOCH value of 18.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ORIC.

Oric Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PRAX	67 Neutral	$8.04B	-21.87	-58.74%	―	364.98%	-25.33%
SYRE	59 Neutral	$3.38B	-45.32	-29.44%	―	―	-123.65%
ORIC	57 Neutral	$1.09B	-5.55	-38.79%	―	―	4.29%
PHAR	57 Neutral	$1.08B	55.29	0.87%	―	26.54%	―
TRVI	56 Neutral	$1.37B	-42.49	-27.34%	―	―	15.84%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PRME	50 Neutral	$637.35M	-2.57	-178.61%	―	647.13%	26.79%

Oric Pharmaceuticals Corporate Events

Oric Pharmaceuticals Launches New 2026 ATM Share Program

On May 6, 2021, ORIC Pharmaceuticals, Inc. entered into an Open Market Sale Agreement with Jefferies LLC to sell common shares through an at-the-market offering program, using Jefferies as sales agent under an effective shelf registration filed on March 11, 2024. Under a 2024 prospectus supplement tied to this agreement, the company sold 13,478,432 shares for gross proceeds of about $139.7 million as of February 23, 2026, and on February 26, 2026, it transitioned to a new 2026 prospectus supplement for up to $200 million in additional share sales, with no further issuances to occur under the 2024 supplement.

The most recent analyst rating on (ORIC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Oric Pharmaceuticals stock, see the ORIC Stock Forecast page.