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BDTX vs. ORIC: Which Oncology Focused Biotech Stock Is a Better Pick Now?
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Key Takeaways
BDTX advances silevertinib for EGFRm NSCLC and GBM, with phase II data due in late 2025.
ORIC progresses ORIC-944 and enozertinib, with multiple phase Ib and III studies planned through 2026.
Despite BDTX's gains, ORIC's broader pipeline and stronger estimates make it the preferred biotech pick.
Black Diamond Therapeutics, Inc. (BDTX - Free Report) is a clinical-stage oncology company developing therapies that target families of oncogenic mutations in patients with cancer.
ORIC Pharmaceuticals (ORIC - Free Report) is also a clinical-stage biopharmaceutical company developing cancer treatments.
Since both the biotech companies are focused on developing next-generation oncology therapies, the focal point of a face-off between these two players is largely their pipeline strength. Let us delve into each company’s profile to help make a prudent choice.
The Case for BDTX
BDTX is developing MasterKey therapies that target families of oncogenic mutations in patients with cancer. The company has made good progress with its lead pipeline candidate, silevertinib.
Silevertinib is a brain penetrant, fourth-generation epidermal growth factor receptor (EGFR) MasterKey inhibitor targeting epidermal growth factor receptor mutant (EGFRm) non-small cell lung cancer (NSCLC) and glioblastoma (GBM).
The candidate was well tolerated and achieved durable clinical responses in a phase I study in patients with recurrent EGFRm NSCLC whose tumors expressed a range of mutation subtypes, including the acquired C797S resistance mutation and a broad spectrum of non-classical mutations.
BDTX is currently evaluating silevertinib in a phase II study in patients with EGFRm NSCLC in both the recurrent setting (cohorts 1 and 2) and the frontline setting (cohort 3). The company has completed enrollment in frontline patients harboring non-classical EGFR mutations (cohort 3, n=43) in July 2025. Initial results from this cohort are anticipated in the fourth quarter of 2025.
The developmental plan for silevertinib includes FDA feedback on a potential registrational path in frontline EGFRm NSCLC in the first half of 2026, when progression-free survival data from the ongoing phase II study are available.
Last year, BDTX announced initial data that demonstrated encouraging clinical responses and durability of silevertinib in 27 patients with EGFRm NSCLC in the second and third-line settings (cohorts 1 and 2). BDTX expects to present final results from this trial in the first half of 2026. The company is also exploring potential combination opportunities for silevertinib in the recurrent setting.
BDTX entered into a global licensing agreement with Servier Pharmaceuticals in March 2025 for its second clinical-stage asset, BDTX-4933, a potential best-in-class targeted therapy for RAF/RAS-mutant solid tumors. The company received an upfront payment of $70.0 million.
Following the outlicensing of its other pipeline candidate, BDTX-4933, to Servier Pharmaceuticals, BDTX is solely focused on the development of silevertinib.
Black Diamond ended the second quarter of 2025 with approximately $142.8 million in cash and cash equivalents. The company believes that this cash balance is sufficient to fund its anticipated operating expenses and capital expenditure requirements into the fourth quarter of 2027.
The Case for ORIC
ORIC is advancing a pipeline of innovative clinical therapies designed to counter resistance mechanisms in cancer within three specific areas — hormone-dependent cancers, precision oncology and key tumor dependencies.
ORIC’s clinical stage product candidates include ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the embryonic ectoderm development (EED) subunit, being developed for prostate cancer, and enozertinib (ORIC-114), a brain penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20 and EGFR atypical mutations, being developed across multiple genetically defined cancers.
ORIC completed a phase Ib study of ORIC-944 as a single-agent, in patients with advanced prostate cancer. Initial data demonstrated potential best-in-class drug properties. ORIC also initiated dosing of ORIC-944 in combination with Erleada (apalutamide) as well as in combination with Nubeqa (darolutamide), as part of the ongoing phase Ib study in patients with metastatic castration resistant prostate cancer (mCRPC).
In May 2025, ORIC reported preliminary efficacy and safety data from the ongoing phase Ib study of ORIC-944 in combination with AR inhibitors, supporting the potential of ORIC-944 as a best-in-class PRC2 inhibitor that may benefit a broad range of patients with prostate cancer. The company has clinical trial collaboration and supply agreements with Janssen Research & Development, a Johnson and Johnson company and Bayer.
Both combination regimens demonstrated a safety profile so far compatible with long term dosing, with the vast majority of adverse events Grade 1 or Grade 2 in severity.
ORIC expects to report updated data of ORIC-944 both in combination with apalutamide and in combination with darolutamide in the second half of 2025. The company also plans to report dose optimization data in the first quarter of 2026. ORIC intends to initiate its first phase III study for ORIC-944 in mCRPC in the first half of 2026.
Enrollment is ongoing in a phase phase I study of enozertinib as a single-agent in patients with advanced non-small cell lung cancer (NSCLC) with EGFR exon 20, HER2 exon 20, or EGFR atypical mutations, including patients with CNS metastases that are either treated or untreated but asymptomatic, across second line + dose optimization cohorts and first-line expansion cohorts.
In January 2025, ORIC entered into a clinical trial and supply agreement with Johnson & Johnson to evaluate ORIC-114 in combination with subcutaneous (SC) amivantamab for the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. A phase 1b study was initiated in the first quarter of 2025, and initial data from this study, in addition to ORIC114 data as a monotherapy in first-line EGFR atypical mutations, are expected in mid-2026. ORIC plans to initiate phase III studies for ORIC-114 in first-line NSCLC in 2026, in EGFR exon 20, HER2 exon 20, and/or atypical EGFR mutations.
ORIC recently announced a strategic pipeline prioritization to focus operational and financial resources on the continued advancement of its two lead clinical programs, ORIC-944 and ORIC-114. This restructuring will result in a 20% workforce reduction. Consequently, cash runway is expected to fund the revised operating plan into the second half of 2028 (previously second half of 2027).
A Look at Estimates: BDTX versus ORIC
The Zacks Consensus Estimate for BDTX’s 2025 earnings per share (EPS) suggests an increase of 127.56% year over year. In the past 60 days, the bottom-line estimate for 2025 and 2026 has moved south.
Image Source: Zacks Investment Research
On the other hand, ORIC’s bottom-line estimate for both 2025 and 2026 is unchanged in the past 60 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of BDTX and ORIC
From a price-performance perspective, BDTX has fetched far better returns than ORIC so far this year. Shares of BDTX have surged 85%, while those of ORIC have gained 56.1%. The industry has gained 12.5% in the said period.
Price Performance YTD
Image Source: Zacks Investment Research
From a valuation standpoint, BDTX is inexpensive compared to ORIC. BDTX’s shares currently trade at 1.70X trailing 12-month book value, lower than 3.78X for ORIC.
Image Source: Zacks Investment Research
Which Stock Is a Better Pick for Now?
Both these clinical stage biotechs have made good pipeline progress with their oncology candidates.
While ORIC has a broader pipeline compared to BDTX and a better cash runway, the latter’s lead candidate, silevertinib, promises reward in lucrative NSCLC space if developed successfully.
According to BDTX, silevertinib has the potential to treat both newly diagnosed patients with EGFRm NSCLC and those with recurrent disease, due to its ability to target more than 50 classical and non-classical oncogenic driver mutations with greater potency than other EGFR tyrosine kinase inhibitors (TKIs). Furthermore, it targets the C797S resistance mutation, which can emerge after treatment with the leading lung cancer drug, Tagrisso (osimertinib).
However, BDTX is a one-trick pony as of now with only silevertinib in its pipeline. Any setback in the development of silevertinib will be detrimental to investors’ interests.
Hence, we believe ORIC is a better pick at present, given its pipeline prospects.
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BDTX vs. ORIC: Which Oncology Focused Biotech Stock Is a Better Pick Now?
Key Takeaways
Black Diamond Therapeutics, Inc. (BDTX - Free Report) is a clinical-stage oncology company developing therapies that target families of oncogenic mutations in patients with cancer.
ORIC Pharmaceuticals (ORIC - Free Report) is also a clinical-stage biopharmaceutical company developing cancer treatments.
Since both the biotech companies are focused on developing next-generation oncology therapies, the focal point of a face-off between these two players is largely their pipeline strength. Let us delve into each company’s profile to help make a prudent choice.
The Case for BDTX
BDTX is developing MasterKey therapies that target families of oncogenic mutations in patients with cancer. The company has made good progress with its lead pipeline candidate, silevertinib.
Silevertinib is a brain penetrant, fourth-generation epidermal growth factor receptor (EGFR) MasterKey inhibitor targeting epidermal growth factor receptor mutant (EGFRm) non-small cell lung cancer (NSCLC) and glioblastoma (GBM).
The candidate was well tolerated and achieved durable clinical responses in a phase I study in patients with recurrent EGFRm NSCLC whose tumors expressed a range of mutation subtypes, including the acquired C797S resistance mutation and a broad spectrum of non-classical mutations.
BDTX is currently evaluating silevertinib in a phase II study in patients with EGFRm NSCLC in both the recurrent setting (cohorts 1 and 2) and the frontline setting (cohort 3). The company has completed enrollment in frontline patients harboring non-classical EGFR mutations (cohort 3, n=43) in July 2025. Initial results from this cohort are anticipated in the fourth quarter of 2025.
The developmental plan for silevertinib includes FDA feedback on a potential registrational path in frontline EGFRm NSCLC in the first half of 2026, when progression-free survival data from the ongoing phase II study are available.
Last year, BDTX announced initial data that demonstrated encouraging clinical responses and durability of silevertinib in 27 patients with EGFRm NSCLC in the second and third-line settings (cohorts 1 and 2). BDTX expects to present final results from this trial in the first half of 2026. The company is also exploring potential combination opportunities for silevertinib in the recurrent setting.
BDTX entered into a global licensing agreement with Servier Pharmaceuticals in March 2025 for its second clinical-stage asset, BDTX-4933, a potential best-in-class targeted therapy for RAF/RAS-mutant solid tumors. The company received an upfront payment of $70.0 million.
Following the outlicensing of its other pipeline candidate, BDTX-4933, to Servier Pharmaceuticals, BDTX is solely focused on the development of silevertinib.
Black Diamond ended the second quarter of 2025 with approximately $142.8 million in cash and cash equivalents. The company believes that this cash balance is sufficient to fund its anticipated operating expenses and capital expenditure requirements into the fourth quarter of 2027.
The Case for ORIC
ORIC is advancing a pipeline of innovative clinical therapies designed to counter resistance mechanisms in cancer within three specific areas — hormone-dependent cancers, precision oncology and key tumor dependencies.
ORIC’s clinical stage product candidates include ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the embryonic ectoderm development (EED) subunit, being developed for prostate cancer, and enozertinib (ORIC-114), a brain penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20 and EGFR atypical mutations, being developed across multiple genetically defined cancers.
ORIC completed a phase Ib study of ORIC-944 as a single-agent, in patients with advanced prostate cancer. Initial data demonstrated potential best-in-class drug properties. ORIC also initiated dosing of ORIC-944 in combination with Erleada (apalutamide) as well as in combination with Nubeqa (darolutamide), as part of the ongoing phase Ib study in patients with metastatic castration resistant prostate cancer (mCRPC).
In May 2025, ORIC reported preliminary efficacy and safety data from the ongoing phase Ib study of ORIC-944 in combination with AR inhibitors, supporting the potential of ORIC-944 as a best-in-class PRC2 inhibitor that may benefit a broad range of patients with prostate cancer. The company has clinical trial collaboration and supply agreements with Janssen Research & Development, a Johnson and Johnson company and Bayer.
Both combination regimens demonstrated a safety profile so far compatible with long term dosing, with the vast majority of adverse events Grade 1 or Grade 2 in severity.
ORIC expects to report updated data of ORIC-944 both in combination with apalutamide and in combination with darolutamide in the second half of 2025. The company also plans to report dose optimization data in the first quarter of 2026. ORIC intends to initiate its first phase III study for ORIC-944 in mCRPC in the first half of 2026.
Enrollment is ongoing in a phase phase I study of enozertinib as a single-agent in patients with advanced non-small cell lung cancer (NSCLC) with EGFR exon 20, HER2 exon 20, or EGFR atypical mutations, including patients with CNS metastases that are either treated or untreated but asymptomatic, across second line + dose optimization cohorts and first-line expansion cohorts.
In January 2025, ORIC entered into a clinical trial and supply agreement with Johnson & Johnson to evaluate ORIC-114 in combination with subcutaneous (SC) amivantamab for the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. A phase 1b study was initiated in the first quarter of 2025, and initial data from this study, in addition to ORIC114 data as a monotherapy in first-line EGFR atypical mutations, are expected in mid-2026. ORIC plans to initiate phase III studies for ORIC-114 in first-line NSCLC in 2026, in EGFR exon 20, HER2 exon 20, and/or atypical EGFR mutations.
ORIC recently announced a strategic pipeline prioritization to focus operational and financial resources on the continued advancement of its two lead clinical programs, ORIC-944 and ORIC-114. This restructuring will result in a 20% workforce reduction. Consequently, cash runway is expected to fund the revised operating plan into the second half of 2028 (previously second half of 2027).
A Look at Estimates: BDTX versus ORIC
The Zacks Consensus Estimate for BDTX’s 2025 earnings per share (EPS) suggests an increase of 127.56% year over year. In the past 60 days, the bottom-line estimate for 2025 and 2026 has moved south.
Image Source: Zacks Investment Research
On the other hand, ORIC’s bottom-line estimate for both 2025 and 2026 is unchanged in the past 60 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of BDTX and ORIC
From a price-performance perspective, BDTX has fetched far better returns than ORIC so far this year. Shares of BDTX have surged 85%, while those of ORIC have gained 56.1%. The industry has gained 12.5% in the said period.
Price Performance YTD
Image Source: Zacks Investment Research
From a valuation standpoint, BDTX is inexpensive compared to ORIC. BDTX’s shares currently trade at 1.70X trailing 12-month book value, lower than 3.78X for ORIC.
Image Source: Zacks Investment Research
Which Stock Is a Better Pick for Now?
Both these clinical stage biotechs have made good pipeline progress with their oncology candidates.
Since both BDTX and ORIC currently carry a Zacks Rank #3 (Hold), choosing one stock over the other is a complex affair. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While ORIC has a broader pipeline compared to BDTX and a better cash runway, the latter’s lead candidate, silevertinib, promises reward in lucrative NSCLC space if developed successfully.
According to BDTX, silevertinib has the potential to treat both newly diagnosed patients with EGFRm NSCLC and those with recurrent disease, due to its ability to target more than 50 classical and non-classical oncogenic driver mutations with greater potency than other EGFR tyrosine kinase inhibitors (TKIs). Furthermore, it targets the C797S resistance mutation, which can emerge after treatment with the leading lung cancer drug, Tagrisso (osimertinib).
However, BDTX is a one-trick pony as of now with only silevertinib in its pipeline. Any setback in the development of silevertinib will be detrimental to investors’ interests.
Hence, we believe ORIC is a better pick at present, given its pipeline prospects.