Quarterly ResultAug 6, 2026, 06:10 AM
Odyssey Therapeutics Reports Q2 Loss of $52.8M; IPO Raises $288.2M
AI Summary
Odyssey Therapeutics, a clinical-stage biopharmaceutical company, reported a net loss of $52.8 million for Q2 2026 and $91.1 million for the first six months of 2026. The company successfully completed its Initial Public Offering (IPO) in May 2026, raising approximately $288.2 million in net proceeds. This significantly boosted its liquidity, with cash, cash equivalents, and marketable securities totaling $433.1 million as of June 30, 2026.
Key Highlights
- Net loss for Q2 2026 was $52.8 million, compared to $41.2 million in Q2 2025.
- Net loss for the six months ended June 30, 2026, was $91.1 million.
- Initial Public Offering (IPO) in May 2026 generated approximately $288.2 million in net proceeds.
- Cash, cash equivalents, and marketable securities totaled $433.1 million as of June 30, 2026.
- Total assets increased to $483.9 million as of June 30, 2026, from $269.8 million at year-end 2025.
- Research and development expenses were $68.5 million for the first six months of 2026.
- All outstanding convertible preferred stock converted into common stock upon IPO.
Price Impact
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