Odyssey Therapeutics, Inc. Common Stock

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 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 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.