Odyssey Q3 2026: $387M Cash Through H2 2028, OD-002 IND Work Complete
ODTX sits 43% above its 52-week low of $15.1.
Summary
Odyssey reported Q3 2026 results with $387 million in cash that funds operations into H2 2028, a net loss of $53.1 million, and completion of IND-enabling studies for OD-002 ahead of a planned Phase 1/2a in the first half of 2027.
Key Events · Earnings and Guidance · ODTX
-
Q3 2026 Results Reported
Net loss of $53.1 million for the quarter ended September 30, 2026, versus $35.5 million a year earlier; adjusted net loss (non-GAAP) was $41.9 million.
-
Cash Runway Into H2 2028
$387 million in cash, cash equivalents and marketable securities as of September 30, 2026, expected to fund operations into the second half of 2028.
-
R&D Spend Jumps
Research and development expense was $42.1 million versus $26.3 million in the prior-year quarter, driven by external costs advancing clinical and preclinical programs.
-
OD-002 IND-Enabling Complete
IND-enabling studies for the first-in-class oral SLC15A4 inhibitor are done; a Phase 1/2a trial is expected to start in the first half of 2027, with healthy-participant data in H2 2027.
Analysis · ODTX · Life Sciences
The balance sheet is the quarter's headline: $387 million in cash and securities carries Odyssey into the second half of 2028, easing near-term financing pressure while OD-001's Phase 2b and combination readouts are not expected until H2 2027. Spending is climbing fast, with R&D up to $42.1 million from $26.3 million a year ago and the net loss widening to $53.1 million from $35.5 million — the cost of running the OD-001 program and pushing OD-002 forward. On the pipeline, IND-enabling work for OD-002 is done and a Phase 1/2a is planned for the first half of 2027, while OD-004 has a nominated development candidate. The CMO and chief people officer appointments read as continuity moves rather than a strategy shift.
How filings like this one have moved
In the 30 days to Nov 4, 2026, 32.4% of the 2221 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ODTX was trading at $21.57 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1B. The 52-week trading range was $15.10 to $29.05. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.