Odyssey Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops medicines for autoimmune and inflammatory diseases. Its pipeline includes OD-001, an oral small molecule inhibitor of receptor-interacting protein kinase 2 in phase 2a trials for ulcerative colitis; OD-002, an oral small molecule SLC15A4 inhibitor designed to block TLR7/8/9-mediated pathogenic inflammatory responses and activation of interferon regulatory factor 5 (IRF5); OD-003, a protein therapeutic designed to selectively agonize tumor necrosis factor receptor 2 on Treg; a TSLP/IL-33 bispecific antagonist; an oral small molecule interleukin-1 receptor-associated kinase 4 scaffolding inhibitor; and a small molecule inhibitor of IRF5. The company was incorporated in 2021 and is headquartered in Boston, Massachusetts.
Odyssey Therapeutics Posts $433.1 Million Cash, Widens Loss to $52.8 Million
Odyssey Therapeutics reported second-quarter financial results on August 4, closing the quarter with $433.1 million in cash as of June 30, 2026, a runway that stretches into the second half of 2028. The clinical-stage biopharmaceutical company said its net loss widened to $52.8 million from $41.2 million a year earlier, while research and development spending rose to $36.2 million from $30.2 million and general and administrative costs fell to $10.5 million from $13.2 million. Adjusted net loss came to $38.4 million, nearly flat against $38.1 million a year earlier, after backing out an $8.7 million non-cash charge tied to the fair value of contingent consideration and stock-based compensation. Odyssey finished dosing patients in the Phase 2a expansion cohort for OD-001, its RIPK2 scaffolding inhibitor, and will present the complete data set at United European Gastroenterology Week this October, with two additional studies planned before year-end: a Phase 2b trial of OD-001 alone and a Phase 2a trial pairing it with vedolizumab. Behind that program sits OD-002, an oral compound targeting the SLC15A4 B-cell pathway, on pace for a clinical trial application by the end of 2026 and a first-in-human study in the first half of 2027. Hedge fund ownership jumped from zero funds in the prior quarter to 24, while 5.25% of the float remains sold short.
Odyssey Therapeutics Reports Wider Net Loss and Evotec Deal
Odyssey Therapeutics reported a second quarter 2026 net loss of US$52.79 million, widening from US$41.24 million a year earlier, while basic and diluted loss per share from continuing operations was US$1.74 compared with US$29.54 in the prior year. For the first six months of 2026, the net loss reached US$91.05 million versus US$79.67 million in the same period of 2025, with loss per share of US$5.05 against US$67.11 a year earlier. The results and a new research and development collaboration with Evotec have refocused attention on the stock, which has returned 35.02% year to date. Odyssey Therapeutics trades at a price-to-book multiple of 2.5 times, in line with the broader US biotechs industry average but below a closer peer group average of 4.5 times.
Bioventus, Travere, Charles River, Odyssey, Aclaris Hit 52-Week Highs on Earnings
Several biotech stocks reached 52-week highs on August 5, 2026, driven by quarterly results. Bioventus rose over 13% to $15.89 after reporting a 4% revenue increase to $153 million and guiding full-year 2026 net sales of $600 million to $610 million. Travere Therapeutics climbed 12% to $66.24 as second-quarter revenue grew to $169 million, with FILSPARI U.S. sales exceeding $141 million following its April 2026 FDA approval for FSGS. Charles River Laboratories gained over 11% to $266 despite a 2.7% revenue dip to just over $1 billion, while Odyssey Therapeutics advanced over 4% to $21.41 after providing pipeline updates including Phase 2 progress for OD-001 in ulcerative colitis. Aclaris Therapeutics rose over 6% to $6.51, highlighting its Bosakitug Phase 2 trial in atopic dermatitis with topline results expected in the fourth quarter of 2026.
Evotec and Odyssey Therapeutics enter AI-enabled R&D collaboration in autoimmune and inflammatory diseases
Evotec SE and Odyssey Therapeutics have entered a strategic R&D collaboration to discover potential new treatments for autoimmune and inflammatory diseases. Under the agreement, Odyssey will leverage Evotec's integrated data-driven discovery platform, advanced screening capabilities, and AI-enabled data science technologies to discover and validate differentiated small molecule drug candidates across multiple high-value disease targets. The collaboration combines Odyssey's disease biology expertise with Evotec's proprietary compound libraries and discovery infrastructure to accelerate early-stage research. Evotec is eligible to receive milestone payments based on the successful delivery of validated hit series for each target, though detailed financials were not disclosed.
Odyssey Therapeutics reported a first-quarter net loss of $38.26 million, or $6.77 per share, narrowing slightly from $38.43 million, or $39.37 per share, a year earlier. Research and development expenses fell to $32.32 million from $38.77 million. The company ended the quarter with $175.7 million in cash, cash equivalents, and marketable securities. Odyssey also highlighted upcoming milestones, including advancing OD-001 into a Phase 2b monotherapy trial and a Phase 2a combination trial with vedolizumab in the second half of 2026, with topline data expected in the second half of 2027, and completing IND and clinical trial applications for OD-002 in the second half of 2026 to potentially start a Phase 1/2a trial in the first half of 2027.
Odyssey Therapeutics reports positive Phase 2a data for OD-001 in ulcerative colitis
Odyssey Therapeutics reported positive clinical proof-of-concept data for its first-in-class oral RIPK2 scaffolding inhibitor OD-001 in a Phase 2a monotherapy trial for moderate to severe ulcerative colitis. In the trial, 27% of patients achieved clinical remission and 61% achieved clinical response after 12 weeks of treatment. The company also closed its initial public offering and concurrent private placement, raising gross proceeds of $314.8 million, and began trading on Nasdaq under the ticker ODTX on May 8, 2026. As of March 31, 2026, Odyssey had cash, cash equivalents and marketable securities of $175.7 million, which together with $288.7 million in net proceeds from the financing events gives a pro-forma cash position of $464.4 million, expected to fund operations into the second half of 2028. Odyssey plans to initiate a Phase 2b monotherapy trial and a Phase 2a combination trial with vedolizumab for OD-001 in the second half of 2026, with topline data expected in the second half of 2027, and expects to file a clinical trial application for its SLC15A4 inhibitor OD-002 in the second half of 2026.
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