Odyssey Therapeutics, Inc. (ODTX) reported on Wednesday its first quarter 2026 financial results and highlighted key clinical milestones.
Company Profile
Odyssey Therapeutics is a clinical-stage biopharmaceutical company developing precision medicines for cancer and autoimmune diseases.
The company pipeline includes selective small molecule therapies such as OD-001, which is in a Phase 2a trial for ulcerative colitis, and OD-002 for treating lupus, and others.
Q1 2026 Financial Performance
Odyssey recorded a net loss of $38.26 million, or $6.77 per share, for the first quarter, marking a slight improvement from $38.43 million, or $39.37 per share, for the same period last year.
The research and development (R&D) expenses for the quarter were $32.32 million, compared to $38.77 million for the same period last year.
As of March 31, 2026, Odyssey recorded total cash, cash equivalents, and marketable securities of $175.7 million.
Operational And Pipeline Highlights
The company closed an initial public offering with gross proceeds amounting to $314.8 million, as it began trading on the Nasdaq Capital Market from May 8, 2026.
The Phase 2a study for OD-001 in treating ulcerative colitis was successfully concluded, achieving proof-of-concept for the drug and registering a good safety profile.
Upcoming Clinical Milestones
- Odyssey plans to advance OD-001 through a Phase 2b trial as a monotherapy and a Phase 2a trial in combination with vedolizumab in the second half of 2026. Topline data for both trials are expected in the second half of 2027.
- The company plans to complete investigational new drug (IND) and clinical trial applications for OD-002 in the second half of 2026, which could allow initiation of a Phase 1/2a clinical trial in the first half of 2027.
ODTX closed Wednesday's trade at $18.48, up 3.41%. In the pre-market shares are trading at $18.32, down 0.87%.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.