SCHEDULE 13D/A: SR One Capital Reduces ORIC Pharma Stake Below 5%

SR One Capital Management and its affiliated funds have reported a decrease in their beneficial ownership of ORIC Pharmaceuticals, Inc. common stock to below 5%.

Summary

• SR One Capital Management, LLC and its affiliated funds (the "Reporting Persons") have filed an Amendment No. 1 to their Schedule 13D, originally filed on June 5, 2025.
• The Reporting Persons collectively ceased to beneficially own 5% or more of ORIC Pharmaceuticals, Inc.'s Common Stock as of August 5, 2025.
• This amendment was triggered solely by a change in the number of outstanding shares of ORIC Pharmaceuticals, Inc., indicating dilution rather than a sale of shares by SR One.
• As of the filing, SR One Capital Management, LLC and Simeon George beneficially own 4,615,384 shares, representing 4.75% of the class.
• The calculation of ownership percentage is based on 97,223,442 shares of Common Stock outstanding, which includes 97,122,987 shares reported by the Issuer as of August 5, 2025, plus shares underlying Pre-Funded Warrants.
• No transactions in ORIC Pharmaceuticals, Inc. common stock were effected by the Reporting Persons in the last 60 days.

Sentiment

Score: 5

Explanation: The filing is neutral as it primarily reports a technical change in ownership percentage due to dilution, not an active divestment by the investor. The investor's underlying position in terms of share count has not changed in the last 60 days.

Positives

• The decrease in percentage ownership was attributed solely to an increase in the number of outstanding shares of the Issuer, suggesting the Reporting Persons did not actively sell their holdings.

Negatives

• The overall percentage ownership by a significant institutional investor group has fallen below the 5% threshold, which could be perceived negatively by some investors.

Risks

• The filing itself does not detail company-specific risks for ORIC Pharmaceuticals, Inc. It primarily concerns the reporting persons' ownership and legal standing. No specific risks for the issuer are mentioned.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding ORIC Pharmaceuticals, Inc.'s future performance or strategic direction.

Industry Context

This filing is a routine disclosure of a change in beneficial ownership by an institutional investor in a biotechnology company. The reduction below the 5% threshold, while notable, is explicitly stated to be due to an increase in the issuer's outstanding shares (dilution), rather than active selling by the investor. This context is important for understanding the implications, as it suggests the investor's position has been diluted, which is a common occurrence in growth-oriented biotech firms that frequently raise capital.

Stakeholder Impact

• Shareholders: The dilution of SR One Capital Management's stake suggests a larger share base, which could impact per-share metrics. However, the investor did not sell, which might reassure some shareholders about the investor's continued belief in the company.

Key Dates

Recommendation

The filing indicates a technical reduction in SR One Capital Management's percentage ownership due to dilution from an increase in ORIC Pharmaceuticals' outstanding shares, rather than an active sale of shares by the investor. This suggests the investor maintains their position, but the company's share count has grown. While dilution can be a concern, the absence of active selling by a significant institutional holder prevents a 'sell' recommendation. Investors should 'hold' and monitor future company developments and any further changes in institutional ownership.

Keywords

ORIC Pharmaceuticals, SR One Capital Management, Schedule 13D/A, Beneficial Ownership, Institutional Investor, Common Stock, Dilution, Biotechnology, Pharmaceuticals