Odyssey Therapeutics, Inc. (ODTX) furnished a new corporate presentation outlining clinical data and pipeline plans across its inflammation and immunology programs. The company reported a balance sheet of $433 million in cash as of June 30, 2026, which it expects to fund operations into the second half of 2028.
Lead program OD-001 (RIPK2 inhibitor) showed Phase 2a proof-of-concept in moderate-to-severe ulcerative colitis, with a 27% clinical remission rate and primary and secondary endpoints reported as met in 49 patients completing 12 weeks. OD-001 was well tolerated at 10 mg and 20 mg BID with no severe (grade ≥3) treatment-emergent adverse events or serious adverse events observed.
The pipeline also includes OD-002 (SLC15A4 inhibitor), targeting B‑cell–driven autoimmune disease with a CTA filing planned in the second half of 2026 and a Phase 1/2 start in the first half of 2027, and OD-003 (TNFR2 agonist) in IND‑enabling studies. The presentation details multiple planned OD-001 Phase 2b and combination readouts in 2027–2028.
Odyssey Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on autoimmune and inflammatory diseases. Its lead programs are OD-001, an oral RIPK2 inhibitor with phase 2a proof-of-concept in ulcerative colitis, and OD-002, an oral SLC15A4 inhibitor in IND-enabling studies.
For the six months ended June 30, 2026, the company reported no collaboration revenue and a net loss of $91.1 million, compared with a $79.7 million net loss a year earlier, reflecting continued investment in its pipeline and higher non-cash contingent consideration expense.
After a May 2026 IPO and concurrent private placement, Odyssey strengthened its balance sheet, ending June 30, 2026 with $433.1 million in cash, cash equivalents and marketable securities. Management estimates this capital will fund operating expenses and capital expenditures into the second half of 2028, while substantial future losses remain likely.
Odyssey Therapeutics, Inc. reported results for the quarter ended June 30, 2026, with a GAAP net loss of $52.8 million and adjusted net loss of $38.4 million. Cash, cash equivalents and marketable securities were $433.1 million, expected to fund operations into the second half of 2028.
The company is advancing OD-001, a small molecule RIPK2 scaffolding inhibitor, with Phase 2a expansion treatment complete and data accepted for an oral presentation at UEG Week in October. A Phase 2b monotherapy trial and Phase 2a combination trial with vedolizumab are expected to start in the second half of 2026, with topline induction data from both in the second half of 2027. OD-002, an oral SLC15A4 inhibitor, is expected to complete IND-enabling studies and file a CTA in the second half of 2026, enabling a Phase 1/2a trial in the first half of 2027. Research and development expenses were $36.2 million and general and administrative expenses were $10.5 million for the quarter.
Odyssey Therapeutics furnished a new corporate presentation outlining its immunology and inflammation pipeline and recent clinical data. The deck highlights OD-001, an oral RIPK2 inhibitor, which achieved a 27% clinical remission rate in a 12‑week Phase 2a ulcerative colitis trial in 49 patients, with concordant endoscopic and symptomatic endpoints and a clean safety profile to date. Odyssey also presents OD-002, a small-molecule SLC15A4 inhibitor targeting pathogenic B cells and interferon signaling, and OD-003, a TNFR2 agonist protein designed to expand regulatory T cells in major autoimmune indications. The company reports a cash balance of $464M as of March 31, 2026, pro forma for IPO and private placement, which it believes funds operations into the second half of 2028 while it advances multiple programs toward key Phase 1 and Phase 2 readouts.
Odyssey Therapeutics reported a net loss of $38.3 million for the quarter ended March 31, 2026, broadly in line with the prior year. Collaboration revenue fell to zero from $1.9 million as prior Pfizer and Johnson & Johnson research agreements were completed.
Research and development expense was $32.3 million and general and administrative expense was $7.4 million, reflecting continued investment in its autoimmune and inflammatory disease pipeline. Cash, cash equivalents and marketable securities totaled $175.7 million at quarter end.
After the quarter, Odyssey completed an IPO and concurrent private placement, raising net proceeds of about $288.7 million. Together with existing cash, management believes this will fund operations for at least twelve months from issuance of these financial statements.
Odyssey Therapeutics reported first quarter 2026 results and highlighted key clinical and financing milestones. In a Phase 2a monotherapy trial of OD-001 for moderate to severe ulcerative colitis, 27% of 49 treated patients achieved clinical remission after 12 weeks and 61% achieved clinical response, with OD-001 well tolerated at both doses.
As of March 31, 2026, Odyssey held cash, cash equivalents and marketable securities of $175.7 million, and together with $288.7 million of net proceeds from its initial public offering and concurrent private placement, expects funding to last into the second half of 2028, implying a pro-forma cash position of $464M. The company completed an offering of 15,500,000 shares and a private placement of 1,388,889 shares, with underwriters later purchasing 600,000 additional shares at $18.00 per share.
Research and development expenses were $32.3 million versus $38.8 million a year earlier, general and administrative expenses were $7.4 million versus $8.0 million, and net loss was $38.3 million compared to $38.4 million in the prior-year quarter.
FMR LLC reported beneficial ownership of 4,577,262 shares of Odyssey Therapeutics Inc common stock, representing 10.2% of the class as disclosed on the form. The filing lists sole voting and sole dispositive power over the 4,577,262 shares and names Abigail P. Johnson in related disclosures.
Odyssey Therapeutics, Inc. Schedule 13G shows that Lightspeed-affiliated entities report beneficial ownership of 3,608,443 shares of Odyssey Therapeutics common stock. The filing states this equals 7.6% of the class based on 47,174,156 shares outstanding as of May 11, 2026.
The report lists shared voting and dispositive power for the Lightspeed entities and is filed jointly by Lightspeed Venture Partners XV-B (Ignite), L.P., Lightspeed General Partner XV-B (Ignite), L.P., and Lightspeed Ultimate General Partner XV-B (Ignite), L.L.C.
SR One-affiliated funds filed a Schedule 13D reporting beneficial ownership of 3,794,883 shares of Odyssey Therapeutics common stock, representing 8.0% of the company. The stake is held across SR One Fund I Aggregator, SR One Co-Invest vehicles and AMZL, all controlled through SR One Capital Management and ultimately by Dr. Simeon George.
The position arose from Odyssey’s initial public offering of 15,500,000 shares at $18.00 per share and the automatic conversion of multiple preferred stock series and warrants into common stock immediately before the IPO closing. The filing states the investment is for investment purposes, with no current plans for corporate changes.
The funds have registration rights under an Investors' Rights Agreement, including demand and piggyback rights, and are subject to a 180-day lock-up from May 7, 2026 that restricts sales, hedging and registration demands during that period.
TPG-affiliated investors have disclosed a significant new stake in Odyssey Therapeutics, Inc. Funds managed through TPG GP A, LLC now beneficially own 3,690,146 shares of Odyssey common stock, representing about 7.8% of the 47,174,156 shares outstanding as of the IPO closing.
The position includes 1,388,889 shares that TPG LSI Rise Orazio II, L.P. bought directly from Odyssey for $25,000,002 in a concurrent private placement at $18.00 per share, matching the initial public offering price. An Investors' Rights Agreement grants registration rights for resale of these shares, and the filing notes TPG may later consider actions involving Odyssey's operations, capital structure or additional share transactions.