Odyssey Therapeutics, Inc.

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.

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.

Odyssey Therapeutics, Inc. announced positive results from its Phase 2a monotherapy trial of OD-001 for ulcerative colitis, meeting the primary endpoint and showing a 27% clinical remission rate. The company also provided updates on its pipeline, including OD-002 (SLC15A4 inhibitor) with CTA filing expected in 2H 2026, and OD-003 (TNFR2 agonist) in IND-enabling studies. Odyssey reported a strong financial position with $464 million cash as of March 31, 2026, extending its operational runway into the second half of 2028.

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.

Odyssey Therapeutics reported a net loss of $(38.26) million for the first quarter of 2026, a slight improvement from $(38.44) million in Q1 2025. Collaboration revenue declined to $0 from $1.92 million year-over-year, while R&D expenses decreased to $32.32 million. Subsequent to the quarter, the company successfully completed its Initial Public Offering and a concurrent private placement in May and June 2026, raising aggregate net proceeds of $288.7 million, which resolved prior substantial doubt about its going concern ability.

Odyssey Therapeutics reported positive clinical proof-of-concept data for OD-001, its oral RIPK2 scaffolding inhibitor, in a Phase 2a monotherapy trial for moderate to severe ulcerative colitis. The company also announced the successful completion of its initial public offering and a concurrent private placement, raising gross proceeds of $314.8 million. With a pro-forma cash position of $464.4 million as of March 31, 2026, Odyssey expects to fund its operations into the second half of 2028. For Q1 2026, the company reported a net loss of $38.3 million, with R&D expenses at $32.3 million and G&A expenses at $7.4 million.

Odyssey Therapeutics, Inc. completed a private placement of 1,388,889 shares of its common stock to TPG LSI Rise Orazio II, L.P., an affiliate of an existing stockholder, for a total of $25,002,002. The shares were sold at the initial public offering (IPO) price of $18.00 per share, with the private placement closing concurrently with the IPO. Additionally, the company filed an amended and restated certificate of incorporation and adopted amended and restated bylaws, effective May 11, 2026, in connection with the IPO.

Odyssey Therapeutics, Inc. announced the pricing of its upsized initial public offering of 15,500,000 shares of common stock at $18.00 per share. The company also granted underwriters an option to purchase an additional 2,325,000 shares. Concurrently, Odyssey sold 1,388,889 shares to an affiliate of TPG Life Sciences Innovations in a private placement at the same price. The combined gross proceeds from these offerings are expected to be approximately $304 million, with shares anticipated to begin trading on the Nasdaq Capital Market under "ODTX" on May 8, 2026.