ORIC Pharmaceuticals Stock Nosedives 25% After Hours: What Is Going On?

ORIC Pharmaceuticals Inc. (NASDAQ: ORIC) saw its stock price drop 24.86% in after-hours trading to $9.52, despite closing the regular session up 3.94% at $12.67. The decline followed the release of updated Phase 1b clinical data for its lead drug candidate, rinzimetostat, which showed an 84% radiographic progression-free survival rate in patients with metastatic castration-resistant prostate cancer. The company plans to initiate a global Phase 3 trial in 2026, aiming to enroll around 600 patients across more than 20 countries.