ORIC Pharmaceuticals Gaining on Pfizer Clinical Development Collaboration and $25 M Equity Investment

(24/7 MARKET NEWS) – ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC) announced, after yesterday’s market close, that it entered into a clinical development collaboration for a potential Phase 2 study of ORIC-533 in multiple myeloma with Pfizer and agreed to sell 5,376,344 of its common shares at a price of $4.65 per share to Pfizer for approximately $25 million in proceeds.

Oric Pharma is trading higher in this morning’s premarket, at $4.35, up $1.35 (+45.00%), on 3.7 million shares traded.

Its 52-week range is $2.36 to $17.26. Its next inflection points are $5.12, today’s premarket high, and $5.50. If it can break through the $5.50 resistance level, on strong volume, it has a favorable setup for a potential run to much higher levels.

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