Monitor upcoming Phase 2b and combination trial initiations for OD-001 in H2 2026 as key catalysts; cash runway into H2 2028 provides ample time for pipeline advancement without near-term financing risk.
Price Chart
Executive Summary
Odyssey Therapeutics reported Q1 2026 financial results with a net loss of $38.3M, essentially flat YoY, and no revenue as a pre-revenue clinical-stage biotech. The company highlighted positive Phase 2a proof-of-concept data for OD-001 in ulcerative colitis and a strong pro-forma cash position of $464.4M post-IPO, funding operations into H2 2028. The filing is a routine quarterly update with no financial surprises.
Key Financial Metrics
Key Facts
- Net loss of $38.3M for Q1 2026, compared to $38.4M in Q1 2025 (essentially flat).
- Cash, cash equivalents and marketable securities of $175.7M as of March 31, 2026.
- Pro-forma cash position of $464.4M after including $288.7M net IPO proceeds, funding operations into H2 2028.
- Closed IPO and concurrent private placement with gross proceeds of $314.8M (15.5M shares + 1.39M private placement at $18.00/share, plus partial underwriter option).
- Research and development expenses were $32.3M, down from $38.8M in Q1 2025, primarily due to a prior-year non-cash lease impairment charge.
- General and administrative expenses were $7.4M, down from $8.0M in Q1 2025.
- Positive clinical proof-of-concept for OD-001 (RIPK2 scaffolding inhibitor) in moderate-to-severe ulcerative colitis (27% clinical remission, 61% clinical response).
- Anticipated milestones: Phase 2b monotherapy and Phase 2a combination trial for OD-001 initiation in H2 2026; CTA filing for OD-002 in H2 2026.
Financial Impact
Net loss $38.3M, flat YoY; pro-forma cash $464.4M post-IPO; no revenue.
Risk Factors
- Clinical trial risks for OD-001 and OD-002, including potential delays or negative data.
- Dependence on successful pipeline advancement for value creation; no approved products or revenue.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-274291 |
| Document: odtx-ex99_1.htm | 0001193125-26-274291 |
| Document: 0001193125-26-274291-index-headers.html | 0001193125-26-274291 |
| Document: 0001193125-26-274291-index.html | 0001193125-26-274291 |
| Document: 0001193125-26-274291.txt | 0001193125-26-274291 |
| 8-K Data (Synthetic) | 0001193125-26-274291 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $18.99 $19.00 | ▲ +0.05% | ▼ −0.47% | $19.71 (+3.79%) |
Aug 4, 2026 12w ago | 8-K | $19.96 $20.89 | ▲ +4.66% | ▲ +4.86% | $19.71 (−1.25%) |
Jun 17, 2026 18w ago | 8-K | $19.07 $18.72 | ▼ −1.84% | ▼ −1.52% | $19.71 (+3.36%) |
May 11, 2026 24w ago | Insider Cluster | $17.45 $17.90 | ▲ +2.58% | ▲ +2.72% | $19.71 (+12.95%) |
May 8, 2026 24w ago | 424B4 | $17.45 $17.90 | ▲ +2.58% | ▲ +2.72% | $19.71 (+12.95%) |
May 8, 2026 24w ago | EFFECT | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.71 (+20.04%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.71 (+20.04%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.71 (+20.04%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.71 (+20.04%) |
May 7, 2026 24w ago | 3 | $16.42 $17.45 | ▲ +6.27% | ▲ +6.04% | $19.71 (+20.04%) |
US Market Status
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