Oric Pharma Hits Five: month high on Pfizer deal, equity investment

ORIC Pharmaceuticals

22/12/2022 16:13

** Shares of ORIC Pharmaceuticals Inc  ORIC.O  jump as high
as 75% to more than a five-month high of $5.25
    ** Stock set for its best day on record, if gains hold; also
among top three pct. gainers and heaviest volumes across U.S.
exchanges
    ** ORIC says it will partner with Pfizer Inc  PFE.N  on a
potential mid-stage study of its experimental cancer drug
ORIC-533
    ** Pfizer to take an equity stake worth ~$25 mln in ORIC at
a per-share price that is at a premium of 55% to last close
    ** Jefferies ("buy", PT: $15) says ORIC's management
declined to share with the brokerage whether PFE is interested
in anything else in ORIC's pipeline apart from ORIC-533
    ** Over 14.5 mln shares trade hands, about 95x 25-DMA
    ** As of last close, stock down nearly 80% YTD 
 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))