Omega Therapeutics Earnings Reports

Omega Therapeutics reported its second quarter 2024 financial results, highlighting progress in the MYCHELANGELO™ I trial and advancements in the OMEGA platform. The company's cash and cash equivalents totaled $45.9 million, expected to fund operations into Q1 2025.

Omega Therapeutics reported a net loss of $20.1 million for the first quarter of 2024, compared to a net loss of $25.3 million for the first quarter of 2023. As of March 31, 2024, the Company had cash and cash equivalents totaling $60.0 million, expected to fund operations into Q1 2025.

Omega Therapeutics reported clinical validation of an epigenomic controller, a research collaboration with Novo Nordisk, and a strategic prioritization to extend cash runway into Q1 2025.

Omega Therapeutics reported third quarter results with a net loss of $22.2 million. The company highlighted promising preliminary clinical data for OTX-2002 and the advancement of its OMEGA platform.

Omega Therapeutics reported a net loss of $29.7 million for the second quarter of 2023, driven by increased R&D expenses. As of June 30, 2023, the company's cash, cash equivalents, and marketable securities totaled $113.0 million.

Omega Therapeutics reported a net loss of $25.3 million for the first quarter of 2023, with cash, cash equivalents, and marketable securities totaling $136.8 million as of March 31, 2023. The company continues to advance its clinical and preclinical programs, including the Phase 1/2 MYCHELANGELO™ I study for OTX-2002.

Omega Therapeutics reported a net loss of $30.8 million for Q4 2022, with cash, cash equivalents, and marketable securities totaling $124.7 million as of December 31, 2022. Research and development expenses were $25.7 million, while general and administrative expenses were $5.4 million for the quarter.

Omega Therapeutics reported a net loss of $25.8 million for the third quarter of 2022, driven by increased R&D and G&A expenses. The company's cash, cash equivalents, and marketable securities totaled $148.3 million as of September 30, 2022. Key highlights included the first patient dosed in the Phase 1/2 MYCHELANGELO I trial of OTX-2002 and the selection of OTX-2101 for MYC-Driven Non-Small Cell Lung Cancer as a second development candidate.

Omega Therapeutics reported a net loss of $25.9 million for the second quarter of 2022. The company's cash, cash equivalents and marketable securities totaled $173.7 million as of June 30, 2022. They also received FDA clearance for OTX-2002 IND application.

Omega Therapeutics reported a net loss of $20.2 million for the first quarter of 2022. The company's cash, cash equivalents, and marketable securities totaled $200.8 million as of March 31, 2022. They are on track to file an IND for OTX-2002 in the first half of 2022.

Omega Therapeutics reported its Q4 2021 financial results, with a net loss of $20.9 million. The company had $225.3 million in cash, cash equivalents, and marketable securities as of December 31, 2021. They are planning to submit an Investigational New Drug application (IND) for OTX-2002 and nominate two OEC candidates in the first half of 2022.

Omega Therapeutics reported financial results for the third quarter ended September 30, 2021, highlighting the advancement of OTX-2002 through IND-enabling studies, a strategic collaboration with Stanford University School of Medicine, and a strong balance sheet with $234.3 million in cash and cash equivalents.

Omega Therapeutics reported a net loss of $15.4 million for the second quarter of 2021. The company's cash and cash equivalents totaled $122.4 million as of June 30, 2021, which does not include the gross proceeds of $141.1 million from the Company’s IPO.