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Omega Therapeutics, Inc. (Nasdaq: OMGA) announced it will present new preclinical data regarding its MYC-HCC and MYC-NSCLC programs at the ASCO Annual Meeting in Chicago from June 2-6, 2023. The presentation, titled Effect of MYC-targeting Programmable Epigenetic mRNA Therapeutics on TME and Immunotherapy Responses, is scheduled for June 5, 2023, from 8:00 a.m. to 11:00 a.m. CDT, and will focus on the therapeutic impact on gastrointestinal cancers. Omega is pioneering programmable epigenomic mRNA medicines aimed at treating various diseases, leveraging a platform that modulates gene expression with precision. The poster presentation will be available on the Omega website concurrently with the event.
Omega Therapeutics, Inc. (Nasdaq: OMGA) has secured a clinical supply agreement with Roche for OTX-2002, its lead candidate targeting MYC-driven hepatocellular carcinoma (HCC). This partnership will involve evaluating OTX-2002 in combination with Roche's atezolizumab in the Phase 1/2 MYCHELANGELO™ I trial.
CEO Mahesh Karande highlighted the potential of OTX-2002 to downregulate the MYC oncogene, an historically challenging target, demonstrating good safety in preclinical studies. The ongoing trial will assess both the monotherapy and the combination's efficacy, with preliminary data expected in 2023.
Omega Therapeutics (Nasdaq: OMGA) reported significant advancements in 2022, including the IND clearance and orphan drug designation for its lead program OTX-2002. The MYCHELANGELO I trial for hepatocellular carcinoma is underway, with preliminary data expected in 2023. Cash, cash equivalents, and marketable securities stood at $124.7 million as of December 31, 2022, bolstered by a $40 million registered direct offering. However, the company faced a net loss of $102.7 million for the year, up from a $68.3 million loss in 2021, mainly due to increased research and development costs.
Omega Therapeutics (Nasdaq: OMGA) announced a registered direct offering of 6,920,415 shares at $5.78 per share, totaling approximately $40 million in gross proceeds. The offering includes both new and existing investors and is set to close on February 27, 2023, subject to closing conditions. Importantly, no underwriter fees will be incurred, as the offering is conducted without an underwriter. This offering was made pursuant to a shelf registration statement filed with the SEC. Omega focuses on developing programmable epigenetic mRNA medicines aimed at treating various diseases.
Omega Therapeutics (Nasdaq: OMGA) announced the presentation of a trial-in-progress poster for the MYCHELANGELO I study at the ASCO-GI 2023 Symposium, scheduled for January 19-21, 2023, in San Francisco. The Phase 1/2 trial evaluates OTX-2002, a first-in-class Omega Epigenomic Controller™ targeting hepatocellular carcinoma and other solid tumors associated with the c-Myc oncogene. The study aims to assess safety, tolerability, pharmacokinetics, and initial antitumor activity. OTX-2002 is an innovative mRNA therapy designed to modulate gene expression epigenetically, potentially transforming cancer treatment.
KSQ Therapeutics announced the appointment of Mahesh Karande, President and CEO of Omega Therapeutics (OMGA), to its board of directors. His expertise in product commercialization and fundraising is expected to bolster KSQ's efforts in advancing clinical studies for KSQ-4279 and the eTIL cell therapy programs. Karande brings a wealth of experience, having previously led initiatives at Novartis Pharmaceuticals and Macrolide Pharma. His insights will be pivotal as KSQ explores novel cancer therapies through its proprietary CRISPRomics® platform.
On November 17, 2022, Omega Therapeutics (Nasdaq: OMGA) announced its participation in a fireside chat at the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022, at 8:00 a.m. ET. The event will showcase Omega's innovative approach to mRNA therapeutics as programmable epigenetic medicines. A live webcast can be accessed on their website, with an archived replay available for 90 days post-event.
Omega focuses on correcting gene expression using its OMEGA Epigenomic Programming platform across various diseases.