Odyssey Q2 2026: $433M Cash and Pipeline Progress, with OD-001 Data Headed to UEG Week
ODTX sits 20% above its 52-week low of $15.1.
Summary
Odyssey Therapeutics reported Q2 2026 results, with $433.1 million in cash providing runway into H2 2028. Phase 2a data for OD-001 will be presented at UEG Week in October, and two new clinical trials are set to begin in the second half of 2026.
Key Events · Earnings and Guidance · ODTX
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Q2 2026 Financial Results
Net loss of $52.8M, with R&D expenses of $36.2M and G&A of $10.5M. Cash, cash equivalents and marketable securities totaled $433.1M as of June 30, 2026, expected to fund operations into H2 2028.
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OD-001 Phase 2a Data Presentation
Updated safety and efficacy results from the full Phase 2a induction dataset have been accepted for oral presentation at UEG Week in October 2026.
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Upcoming Clinical Trials
A Phase 2b monotherapy trial and a Phase 2a combination trial with vedolizumab are expected to initiate in H2 2026, with topline induction data anticipated in H2 2027.
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OD-002 Program Advancement
IND-enabling studies are to be completed, and a CTA filing is expected in H2 2026, enabling a Phase 1/2a trial in H1 2027.
Analysis · ODTX · Life Sciences
Odyssey Therapeutics posted a Q2 net loss of $52.8 million, driven by R&D spending that climbed to $36.2 million as the company advances its lead candidate OD-001. With $433.1 million in cash at quarter-end, the runway extends into the second half of 2028. A key catalyst looms: Phase 2a monotherapy data for OD-001 has been accepted for an oral presentation at UEG Week in October, an event that could validate the drug's profile. In the second half of 2026, the company also plans to initiate a Phase 2b monotherapy trial and a Phase 2a combination trial with vedolizumab, with topline data expected in the second half of 2027. Meanwhile, a second program, OD-002, remains on track for a CTA filing by year-end. The cash position and pipeline progress reinforce post-IPO momentum, though the increased R&D spend reflects the cost of advancing multiple clinical programs.
At the time of this filing, ODTX was trading at $18.13 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $870.8M. The 52-week trading range was $15.10 to $20.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.