ORIC Pharmaceuticals Announces $125M Private Placement Of ~12.5M Shares At $10.00/Share
Portfolio Pulse from Benzinga Newsdesk
ORIC Pharmaceuticals has secured a $125M private placement, issuing approximately 12.5M shares at $10.00 each. The funding involves new and existing investors such as Viking Global Investors, Commodore Capital, Frazier Life Sciences, Venrock Healthcare Capital Partners, NEA, and Nextech. This capital is expected to support ORIC's operations until late 2026.
January 22, 2024 | 1:34 pm
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POSITIVE IMPACT
ORIC Pharmaceuticals has completed a significant private placement, raising $125 million by selling shares at $10 each, which is expected to fund operations into late 2026.
The successful private placement is a strong positive signal for ORIC, as it secures necessary funding for the next few years, reducing financial risk and potentially enhancing investor confidence. The involvement of notable investors could also be seen as an endorsement of ORIC's prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100