An­oth­er small biotech watch­es its lead drug im­plode as its stock price tanks

Close to 2 years af­ter ORIC Phar­ma­ceu­ti­cals went pub­lic with an IPO boast­ing of the po­ten­tial of its lead can­cer drug, the biotech has joined the long list of its mar­ket class­mates that have come a crop­per.

The South San Fran­cis­co-based biotech saw its shares $ORIC tank 29% on Tues­day — com­plet­ing an 80% freefall over the past year — af­ter re­port­ing that the lead drug had failed 2 Phase Ib stud­ies and would be scrapped.

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