Omega Therapeutics, Inc. Stock Price, News & Analysis

Omega Therapeutics (Nasdaq: OMGA) announced the first patient dosing in the Phase 1/2 MYCHELANGELO™ I trial of OTX-2002, which targets hepatocellular carcinoma. The U.S. FDA has granted OTX-2002 orphan drug designation. The company also introduced OTX-2101 for MYC-driven non-small cell lung cancer as a new candidate. As of September 30, 2022, Omega reported $148.3 million in cash and equivalents. The third quarter saw R&D expenses of $20.7 million, up from $12.3 million year-over-year, and a net loss of $25.8 million compared to $18.5 million in Q3 2021.

Omega Therapeutics (Nasdaq: OMGA), a pioneering biotechnology firm in mRNA therapeutics, will participate in a fireside chat at the Jefferies London Healthcare Conference on November 15, 2022, at 11:30 a.m. GMT (6:30 a.m. ET). A live webcast will be available on the company's website, with an archived replay accessible for 90 days. Omega is advancing its OMEGA Epigenomic Programming™ platform, targeting gene expression to tackle diseases across various areas, including oncology and immunology.

Omega Therapeutics has initiated the Phase 1/2 MYCHELANGELO™ I clinical trial for OTX-2002, a first-in-class epigenomic controller targeting c-Myc for hepatocellular carcinoma (HCC). The FDA granted Orphan Drug Designation to OTX-2002, highlighting its potential in treating HCC, which lacks effective therapies. The trial aims to assess safety, tolerability, and preliminary antitumor activity, particularly in patients with relapsed or refractory HCC. The FDA's designation provides development incentives, including tax credits and marketing exclusivity.

Omega Therapeutics (NASDAQ: OMGA) announced the dosing of the first patient in its Phase 1/2 MYCHELANGELO I trial for OTX-2002, targeting relapsed or refractory hepatocellular carcinoma (HCC) linked to c-Myc oncogene overexpression. OTX-2002 is a novel mRNA therapeutic designed to downregulate MYC expression through epigenetic modulation, marking a significant step in using programmable mRNA therapeutics. The trial aims to enroll approximately 190 patients across multiple regions, assessing safety, tolerability, and preliminary antitumor efficacy. This milestone highlights Omega's commitment to innovative cancer treatments.

Omega Therapeutics (Nasdaq: OMGA) has selected OTX-2101 as its next development candidate from the OMEGA Epigenomic Programming™ platform for treating non-small cell lung cancer (NSCLC). OTX-2101 targets the c-Myc oncogene, overexpressed in ~60% of NSCLC cases. Preclinical data showed it effectively down-regulates MYC, reduces tumor growth in vivo, and is well tolerated in models. The development will utilize lipid nanoparticle technology licensed from Nitto Denko Corporation, marking a significant advancement in their pipeline aimed at addressing urgent cancer treatment needs.

Cellarity, a life sciences company, announced the successful completion of a $121 million Series C financing, raising total funds to $274 million. This round attracted new investors, including Kyowa Kirin Co. Ltd and Hanwha Impact Partners, alongside existing backers. The funds will be used to expand talent, enhance its platform, and progress its drug pipeline. Cellarity’s innovative approach focuses on cellular dysfunction rather than targeting individual molecules, aiming for breakthroughs in treating various diseases.

Omega Therapeutics (Nasdaq: OMGA) will participate in two investor conferences: the Jefferies Cell and Genetic Medicine Summit on September 30, 2022, and Chardan's 6th Annual Genetic Medicines Conference on October 4, 2022. The summit will feature a fireside chat at 9:00 a.m. ET, while the Chardan conference includes a gene regulation panel at 9:30 a.m. ET and another fireside chat at 11:00 a.m. ET. Webcasts will be available live on their website, and replays will be accessible for 90 days.

Omega Therapeutics, a clinical-stage biotechnology company utilizing mRNA therapeutics, announced management's participation in the H.C. Wainwright 24th Annual Global Investment Conference on September 12, 2022, at 10 a.m. ET. A live webcast will be accessible via their website, with an archived replay available for 90 days. The company specializes in programmable epigenetic medicines through their OMEGA Epigenomic Programming™ platform, with a focus on controlling gene expression to treat various diseases including oncology and immunology.

Omega Therapeutics, Inc. (Nasdaq: OMGA) announced the appointment of Rainer Boehm as an independent director to its Board of Directors on Sept. 1, 2022. Boehm, with over 30 years of experience, previously held senior roles at Novartis and will contribute to the audit and compensation committees. His expertise in drug development and commercialization is expected to enhance Omega's clinical pipeline, particularly in advancing its novel mRNA therapeutics platform. The company aims to address challenging diseases using its OMEGA Epigenomic Programming™ platform.