As filed with the Securities and Exchange Commission on March 29, 2024
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ORIC PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 47-1787157 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification Number) |
240 E. Grand Ave., 2nd Floor
South San Francisco, California 94080
(650) 388-5600
(Address of principal executive offices, including zip code)
2020 Equity Incentive Plan
2020 Employee Stock Purchase Plan
2022 Inducement Equity Incentive Plan
(Full title of the plan)
Jacob M. Chacko, M.D.
President and Chief Executive Officer
ORIC Pharmaceuticals, Inc.
240 E. Grand Ave, 2nd Floor
South San Francisco, CA 94080
(650) 388-5600
(Name, address and telephone number, including area code, of agent for service)
Copies to:
Kenneth A. Clark Tony Jeffries Jennifer Knapp Amanda N. Urquiza Wilson Sonsini Goodrich & Rosati, Professional Corporation 650 Page Mill Road Palo Alto, CA 94304 (650) 493-9300 |
Dominic Piscitelli Chief Financial Officer ORIC Pharmaceuticals, Inc. 240 E. Grand Ave, 2nd Floor South San Francisco, CA 94080 (650) 388-5600 |
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
EXPLANATORY NOTE
ORIC Pharmaceuticals, Inc. (the Registrant) is filing this Registration Statement on Form S-8 (the Registration Statement) with the Securities and Exchange Commission (the Commission) to register (i) 2,656,500 shares of common stock of the Registrant, $0.0001 par value per share (Common Stock), reserved for issuance under ORICs 2020 Equity Incentive Plan (the EIP), (ii) 500,000 shares of Common Stock reserved for issuance under ORICs 2020 Employee Stock Purchase Plan (the ESPP) and (iii) to register 650,000 additional shares of Common Stock reserved for issuance under the Registrants 2022 Inducement Plan, as amended (the 2022 Inducement Plan).
The number of shares of Common Stock available for grant and issuance under the EIP is subject to an annual increase on the first day of each fiscal year starting on January 1, 2021 and each subsequent anniversary, equal to the smallest of (a) 2,656,500, (b) 5% of the number of shares of Common Stock issued and outstanding on December 31 of the immediately preceding year, or (c) an amount determined by the Administrator (as defined in the EIP). The number of shares of Common Stock available for grant and issuance under the ESPP is subject to an annual increase on the first day of each fiscal year starting on January 1, 2021 and each subsequent anniversary, equal to the smallest of (a) 500,000, (b) 1% of the number of shares of Common Stock issued and outstanding on December 31 of the immediately preceding year, or (c) an amount determined by the Administrator (as defined in the ESPP). The number of shares of Common Stock available for grant under the 2022 Inducement Plan as inducement grants under Nasdaq Listing Rule 5635(c)(4) was increased pursuant to an amendment to the 2022 Inducement Plan approved by the Compensation Committee of the Board of Directors of the Registrant.
Accordingly, contents of (i) the Registration Statement on Form S-8 filed with the Commission on April 24, 2020 (Registration No. 333-237840), (ii) the Registration Statement on Form S-8 (No. 333-254626) filed by the Registrant with the Commission on March 23, 2021, (iii) the Registration Statement on Form S-8 (No. 333-263763) filed by the Registrant with the Commission on March 22, 2022, and (iv) the Registration Statement on Form S-8 (No. 333-270619) filed by the Registrant with the Commission on March 16, 2023 are incorporated herein by reference pursuant to General Instruction E of Form S-8 (together, the Previous Forms S-8), including the information incorporated by reference therein and the periodic reports filed after the Previous Forms S-8 to maintain current information about the Registrant, are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the Securities Act) and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference into this Registration Statement the following documents previously filed with the Commission:
(1) | the Registrants Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Commission on March 11, 2024; |
(2) | the Registrants Current Report on Form 8-K filed with the Commission on January 22, 2024; |
(3) | the sections of the Registrants Definitive Proxy Statement on Schedule 14A for the 2023 Annual Meeting of Stockholders filed with the Commission on April 26, 2023 incorporated by reference in the Registrants 2022 Annual Report; and |
(4) | the description of the Registrants Common Stock contained in Exhibit 4.3 to the Registrants Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Commission on March 11, 2024, including any amendment or report filed for the purpose of updating such description. |
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
The validity of the securities offered hereby will be passed upon for us by Wilson Sonsini Goodrich & Rosati, Professional Corporation, Palo Alto, California. Additional legal matters may be passed on for us, or any underwriters, dealers or agents, by counsel that we will name in the applicable prospectus supplement.
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law empowers a corporation to indemnify its directors and officers and to purchase insurance with respect to liability arising out of their capacity or status as directors and officers, provided that the person acted in good faith and in a manner the person reasonably believed to be in our best interests, and, with respect to any criminal action, had no reasonable cause to believe the persons actions were unlawful. The Delaware General Corporation Law further provides that the indemnification permitted thereunder shall not be deemed exclusive of any other rights to which the directors and officers may be entitled under the corporations bylaws, any agreement, a vote of stockholders or otherwise. The Amended and Restated Certificate of Incorporation of the Registrant provides for the indemnification of the Registrants directors and officers to the fullest extent permitted under the Delaware General Corporation Law. In addition, the Amended and Restated Bylaws of the Registrant require the Registrant to fully indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding (whether civil, criminal, administrative or investigative) by reason of the fact that such person is or was a director or officer of the Registrant, or is or was a director or officer of the Registrant serving at the Registrants request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, to the fullest extent permitted by applicable law.
Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except (1) for any breach of the directors duty of loyalty to the corporation or its stockholders, (2) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) for payments of unlawful dividends or unlawful stock repurchases or redemptions or (4) for any transaction from which the director derived an improper personal benefit. The Amended and Restated Certificate of Incorporation of the Registrant provides that the Registrants directors shall not be
personally liable to it or its stockholders for monetary damages for breach of fiduciary duty as a director and that if the Delaware General Corporation Law is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of the Registrants directors shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended.
Section 174 of the Delaware General Corporation Law provides, among other things, that a director who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either absent when the unlawful actions were approved, or dissented at the time, may avoid liability by causing his or her dissent to such actions to be entered in the books containing minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives notice of the unlawful acts.
As permitted by the Delaware General Corporation Law, the Registrant has entered into separate indemnification agreements with each of the Registrants directors and certain of the Registrants officers which require the Registrant, among other things, to indemnify them against certain liabilities which may arise by reason of their status as directors, officers or certain other employees.
The Registrant expects to obtain and maintain insurance policies under which its directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities which might be imposed as a result of, actions, suits or proceedings to which they are parties by reason of being or having been directors or officers. The coverage provided by these policies may apply whether or not the Registrant would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.
These indemnification provisions and the indemnification agreements entered into between the Registrant and the Registrants officers and directors may be sufficiently broad to permit indemnification of the Registrants officers and directors for liabilities (including reimbursement of expenses incurred) arising under the Securities Act.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Incorporated by Reference | ||||||||||||||||||
Exhibit Number |
Description |
Form | File No. | Exhibit | Filing Date | |||||||||||||
4.1 | Specimen common stock certificate of the Registrant | S-1/A | 333-236792 | 4.2 | 4/20/2020 | |||||||||||||
10.1 | 2020 Equity Incentive Plan, and form agreements thereunder | S-1/A | 333-236792 | 10.3 | 4/20/2020 | |||||||||||||
10.2 | 2020 Employee Stock Purchase Plan, and form agreements thereunder | 10-Q | 001-39269 | 10.2 | 11/8/2021 | |||||||||||||
10.3 | Amended and Restated 2022 Inducement Equity Incentive Plan, and form agreements thereunder | 8-K | 001-39269 | 10.1 | 3/29/2024 | |||||||||||||
5.1* | Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation | |||||||||||||||||
23.1* | Consent of Independent Registered Public Accounting Firm | |||||||||||||||||
23.2* | Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (contained in Exhibit 5.1 hereto) | |||||||||||||||||
24.1* | Power of Attorney (contained on signature page hereto) | |||||||||||||||||
107* | Filing Fee Table |
* | Filed herewith. |
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the Calculation of Registration Fee table in the effective Registration Statement; and
(iii) to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2) that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrants annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plans annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of South San Francisco, California, on March 29, 2024.
ORIC PHARMACEUTICALS, INC. | ||
By: | /s/ Jacob M. Chacko | |
Jacob M. Chacko, M.D. | ||
President and Chief Executive Officer |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Jacob M. Chacko, M.D. and Dominic Piscitelli, and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement, including post-effective amendments, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith and about the premises, as fully for all intents and purposes as they, he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or any of them, or their, his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/s/ Jacob M. Chacko Jacob M. Chacko, M.D. |
President, Chief Executive Officer and Director (Principal Executive Officer) |
March 29, 2024 | ||
/s/ Dominic Piscitelli Dominic Piscitelli |
Chief Financial Officer (Principal Financial and Accounting Officer) |
March 29, 2024 | ||
/s/ Richard Heyman Richard Heyman, Ph.D. |
Chair of the Board | March 29, 2024 | ||
/s/ Mardi Dier Mardi Dier |
Director | March 29, 2024 | ||
/s/ Steven Hoerter Steven Hoerter |
Director | March 29, 2024 | ||
/s/ Lori Kunkel Lori Kunkel, M.D. |
Director | March 29, 2024 | ||
/s/ Angie You Angie You, Ph.D. |
Director | March 29, 2024 |
Exhibit 5.1
|
Wilson Sonsini Goodrich & Rosati
650 Page Mill Road
O: 650.493.9300 |
March 29, 2024
ORIC Pharmaceuticals, Inc.
240 E. Grand Avenue, 2nd Floor
South San Francisco, CA 94080
(650) 388-5600
Re: | Registration Statement on Form S-8 |
Ladies and Gentlemen:
We have examined the Registration Statement on Form S-8 (the Registration Statement) to be filed by ORIC Pharmaceuticals, Inc., a Delaware corporation (the Company), with the Securities and Exchange Commission on or about the date hereof, relating to the registration under the Securities Act of 1933, as amended, of (i) 2,656,500 shares of common stock, par value $0.0001 per share (the Common Stock) reserved for issuance pursuant to the Companys 2020 Equity Incentive Plan, (ii) 500,000 shares of Common stock reserved for issuance pursuant to the Companys 2020 Employee Stock Purchase Plan and (iii) 650,000 shares of Common Stock reserved for issuance pursuant to the Companys 2022 Inducement Equity Incentive Plan, as amended (which plans are referred to herein as the Plans and which shares of Common Stock are referred to herein as the Shares).
On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plans and pursuant to the agreements that accompany the Plans, will be legally and validly issued, fully paid, and nonassessable.
We consent to the use of this opinion as an exhibit to the Registration Statement, and further consent to the use of our name wherever appearing in the Registration Statement and any amendments thereto.
Very truly yours, |
/s/Wilson Sonsini Goodrich & Rosati, P.C. |
WILSON SONSINI GOODRICH & ROSATI |
Professional Corporation |
AUSTIN BEIJING BOSTON BOULDER BRUSSELS HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO
SALT LAKE CITY SAN DIEGO SAN FRANCISCO SEATTLE SHANGHAI WASHINGTON, DC WILMINGTON, DE
Exhibit 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the use of our report dated March 11, 2024, with respect to the financial statements of ORIC Pharmaceuticals, Inc., incorporated herein by reference.
/s/ KPMG LLP |
San Diego, California March 29, 2024 |
Exhibit 107
Calculation of Filing Fee Table
Form S-8
(Form Type)
ORIC Pharmaceuticals, Inc.
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
Security Type | Security Class Title |
Fee Calculation or Carry Forward Rule |
Amount Registered(1) |
Proposed Maximum Offering Price Per Unit |
Maximum Aggregate Offering Price |
Fee Rate |
Amount of Registration Fee | |||||||
Equity | Common Stock, $0.0001 par value, reserved for issuance pursuant to the 2020 Equity Incentive Plan | 457(c) and 457(h) | 2,656,500(2) | $13.58(3) | $36,075,270 | 0.00014760 | $5,324.71 | |||||||
Equity | Common Stock, $0.0001 par value, reserved for issuance pursuant to the 2020 Employee Stock Purchase Plan | 457(c) and 457(h) | 500,000(4) | $13.58(5) | $6,790,000 | 0.00014760 | $1,002.20 | |||||||
Equity | Common Stock, $0.0001 par value, reserved for issuance pursuant to the 2022 Inducement Equity Incentive Plan | 457(c) and 457(h) | 650,000(6) | $13.58(7) | $8,827,000 | 0.00014760 | $1,302.87 | |||||||
Total Offering Amounts | $51,692,270 | $7,629.78 | ||||||||||||
Total Fee Offsets | | |||||||||||||
Net Fee Due | $7,629.78 |
(1) | Represents shares of common stock, par value $0.0001 per share (Common Stock) of the ORIC Pharmaceuticals, Inc. (the Registrant) available for issuance pursuant to awards granted pursuant to the Registrants 2020 Equity Incentive Plan (the EIP), 2020 Employee Stock Purchase Plan (the ESPP) and 2022 Inducement Equity Incentive Plan (the 2022 Inducement Plan). In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the Securities Act), this Registration Statement shall also cover any additional shares of the Registrants Common Stock that become issuable under the EIP, ESPP or 2022 Inducement Plan by reason of an event such as any stock split, stock dividend or similar adjustment effected without the Registrants receipt of consideration that increases the number of the Registrants outstanding shares of Common Stock. |
(2) | Reflects an automatic annual increase of 2,656,500 on January 1, 2024 to the number of shares of Registrants Common Stock reserved for issuance under the EIP, which annual increase is provided for in the EIP. |
(3) | Estimated in accordance with paragraphs (c) and (h) of Rule 457 under the Securities Act solely for the purpose of calculating the registration fee on the basis of 13.58 per share, which represents the average of the high and low price per share of the Registrants common stock on March 27, 2024 as reported on the Nasdaq Global Select Market. |
(4) | Reflects an automatic annual increase of 500,000 on January 1, 2024 to the number of shares of Registrants Common Stock reserved for issuance under the ESPP, which annual increase is provided for in the ESPP. |
(5) | Estimated in accordance with paragraphs (c) and (h) of Rule 457 under the Securities Act solely for the purpose of calculating the registration fee on the basis of 85% of 13.58 per share, which represents the average of the high and low price per share of the Registrants Common Stock on March 27, 2024 as reported on the Nasdaq Global Select Market. Pursuant to the ESPP, the purchase price of the shares of the Registrants Common Stock reserved for issuance thereunder will be at least 85% of the lower of the fair market value on (i) the first trading day of the offering period or (ii) the purchase date. |
(6) | Reflects 650,000 shares of Common Stock reserved for issuance under the 2022 Inducement Plan. |
(7) | Estimated in accordance with Rules 457 (c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of 13.58 per share, which represents the average of the high and low prices of the registrants common stock on March 27, 2024, as reported on the Nasdaq Global Select Market. |