Monitor the UEG Week oral presentation in October for updated OD-001 efficacy/safety data, which is the next major catalyst. The Phase 2b and combination trial initiations in 2H 2026 will provide further pipeline validation signals. Cash runway into 2H 2028 reduces near-term dilution risk.
Price Chart
Executive Summary
Odyssey Therapeutics reported Q2 2026 financial results with a GAAP net loss of $52.8M, wider than the $41.2M loss in Q2 2025. The company highlighted positive Phase 2a proof-of-concept data for lead candidate OD-001, with an oral presentation at UEG Week in October and plans to initiate Phase 2b monotherapy and Phase 2a combination trials in 2H 2026. Cash runway extends into 2H 2028, but the widening loss and lack of revenue keep the stock in a clinical-stage binary risk profile.
Key Facts
- Cash, cash equivalents and marketable securities of $433.1M as of June 30, 2026, expected to fund operations into 2H 2028.
- GAAP net loss of $52.8M for Q2 2026 vs $41.2M in Q2 2025.
- Adjusted net loss (non-GAAP) of $38.4M for Q2 2026 vs $38.1M in Q2 2025.
- R&D expenses increased to $36.2M from $30.2M year-over-year.
- Phase 2a monotherapy trial of OD-001 data accepted for oral presentation at UEG Week in October 2026.
- Phase 2b monotherapy and Phase 2a combination trial with vedolizumab expected to initiate in 2H 2026.
- OD-002 (SLC15A4 inhibitor) CTA filing expected by end of 2026, Phase 1/2a trial initiation in 1H 2027.
Financial Impact
Net loss widened by $11.6M year-over-year to $52.8M; cash burn rate increased with R&D spending up $6M vs prior year.
Risk Factors
- Clinical trial failure or disappointing OD-001 data at UEG Week
- Widening net loss and increasing cash burn rate
- No revenue and dependence on pipeline advancement for value creation
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-331512 |
| Document: odtx-ex99_1.htm | 0001193125-26-331512 |
| Document: 0001193125-26-331512-index-headers.html | 0001193125-26-331512 |
| Document: 0001193125-26-331512-index.html | 0001193125-26-331512 |
| Document: 0001193125-26-331512.txt | 0001193125-26-331512 |
| 8-K Data (Synthetic) | 0001193125-26-331512 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $18.99 $19.00 | ▲ +0.05% | ▼ −0.47% | $19.60 (+3.21%) |
Aug 4, 2026 11w ago | 8-K | $19.96 $20.89 | ▲ +4.66% | ▲ +4.86% | $19.60 (−1.80%) |
Jun 17, 2026 18w ago | 8-K | $19.07 $18.72 | ▼ −1.84% | ▼ −1.52% | $19.60 (+2.78%) |
May 11, 2026 24w ago | Insider Cluster | $17.45 $17.90 | ▲ +2.58% | ▲ +2.72% | $19.60 (+12.32%) |
May 8, 2026 24w ago | 424B4 | $17.45 $17.90 | ▲ +2.58% | ▲ +2.72% | $19.60 (+12.32%) |
May 8, 2026 24w ago | EFFECT | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.60 (+19.37%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.60 (+19.37%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.60 (+19.37%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.60 (+19.37%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.60 (+19.37%) |
US Market Status
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