Quarterly ResultJun 17, 2026, 04:52 PM
Odyssey Therapeutics Reports Q1 2026 Results; OD-001 Shows Positive Data
AI Summary
Odyssey Therapeutics announced its first quarter 2026 financial results, highlighting positive clinical proof-of-concept data for its drug candidate OD-001 in a Phase 2a trial for ulcerative colitis. The company reported $175.7 million in cash and cash equivalents as of March 31, 2026, with pro-forma cash of $464.4 million expected to fund operations into the second half of 2028. Odyssey also completed an initial public offering and concurrent private placement, raising $314.8 million in gross proceeds.
Key Highlights
- Odyssey Therapeutics reported positive clinical proof-of-concept data for OD-001 in a Phase 2a trial for ulcerative colitis.
- Cash on hand as of March 31, 2026, was $175.7M, with pro-forma cash of $464.4M expected to fund operations into the second half of 2028.
- Research and development expenses for Q1 2026 were $32.3M, down from $38.8M in Q1 2025.
- General and administrative expenses for Q1 2026 were $7.4M, down from $8.0M in Q1 2025.
- Net loss for Q1 2026 was $38.3M, compared to $38.4M in Q1 2025.
- Odyssey closed an initial public offering and concurrent private placement, raising $314.8M in gross proceeds.
Price Impact
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