Initiating coverage on ORIC Pharmaceuticals (NASDAQ: ORIC) with an overweight rating, Cantor Fitzgerald singles out the promising potential of the company’s oncology wonder, ORIC-114.
ORIC-114, an oral EGFR/HER2 exon 20 inhibitor in the realm of metastatic cancers, shines bright in Cantor’s eyes, boasting a “high probability of emerging as a best-in-class drug” in the competitive pharmaceutical landscape, supporting the existing valuation.
The investment giant estimates the global addressable market for ORIC-114 exceeds $2.5 billion, excluding the Chinese market potential if tailored for EGFR, HER2, and atypical EGFR cancers. Cantor projects unadjusted peak sales to soar to around $700 million across these three lucrative segments, coupling this forecast with a solid 65% probability of success.
But that’s not all – Cantor Fitzgerald also pins high hopes on ORIC’s prostate cancer therapy in the making, ORIC-944, deeming it as offering a “very attractive” risk/reward proposition.