Quarterly ResultAug 4, 2026, 07:07 AM
Odyssey Therapeutics Q2 Net Loss $52.8M; OD-001 Trials Advance; Cash Funds into 2H 2028
AI Summary
Odyssey Therapeutics reported its second quarter 2026 financial results, with a net loss of $52.8 million. The company announced it has $433.1 million in cash, expected to fund operations into the second half of 2028. Significant progress was made in its clinical pipeline, including the acceptance of OD-001 Phase 2a data for oral presentation and plans to initiate new Phase 2b and Phase 2a combination trials for OD-001 in the second half of 2026. Additionally, Odyssey expects to file a CTA for OD-002 in the second half of 2026, aiming for Phase 1/2a trial initiation in the first half of 2027.
Key Highlights
- Cash, cash equivalents, and marketable securities totaled $433.1 million as of June 30, 2026.
- Cash on hand is expected to fund operations into the second half of 2028.
- Net loss for Q2 2026 was $52.8 million, compared to $41.2 million for Q2 2025.
- Adjusted net loss (non-GAAP) was $38.4 million for Q2 2026, versus $38.1 million for Q2 2025.
- Research and development expenses increased to $36.2 million in Q2 2026 from $30.2 million in Q2 2025.
- General and administrative expenses decreased to $10.5 million in Q2 2026 from $13.2 million in Q2 2025.
- OD-001 Phase 2a monotherapy trial data accepted for oral presentation at United European Gastroenterology Week in October.
- OD-001 Phase 2b monotherapy and Phase 2a combination trials expected to initiate in 2H 2026.
- OD-002 CTA filing expected in 2H 2026, with Phase 1/2a trial initiation in 1H 2027.
Price Impact
More from ODTX