Odyssey Therapeutics posts first 10-Q: $175.7M cash, $38.3M quarterly loss, runway into H2 2028

Filed June 17, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  Company held $175.7M in cash and marketable securities at March 31, 2026, with management projecting runway into second half of 2028 following May 2026 IPO that raised $288.7M net. Accumulated deficit reached $606.4M.

  MD&A: Financial Position verify on EDGAR →
• high

  Lead program OD-001 (RIPK2 inhibitor) achieved proof-of-concept in phase 2a trial for ulcerative colitis; OD-002 (SLC15A4 inhibitor) remains in IND-enabling studies. All other programs are preclinical, placing commercialization multiple years out.

  MD&A: Pipeline Status verify on EDGAR →
• high

  Net loss held flat at $38.3M in Q1 2026 vs $38.4M prior year. R&D expenses fell $6.5M (driven by $6.3M non-recurring San Diego lease impairment in Q1 2025 and lower headcount), offset by $3.0M increase in CRO/CMC costs for ongoing OD-001 trial.

  MD&A: Operating Results verify on EDGAR →