Omega Therapeutics Q1 2023 Earnings Report
Key Takeaways
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 MYCHELANGELOâ„¢ I study for OTX-2002.
Advanced monotherapy dose escalation stage of ongoing Phase 1/2 MYCHELANGELOâ„¢ I Study; preliminary data anticipated in 2023.
Announced Clinical Supply Agreement with Roche to Evaluate OTX-2002 in Combination with Atezolizumab in MYCHELANGELO I Study.
Advanced other pipeline programs and OMEGA Platform development.
Cash, cash equivalents and marketable securities of $136.8 million as of March 31, 2023.
Omega Therapeutics
Omega Therapeutics
Forward Guidance
The Company anticipates that its cash, cash equivalents and marketable securities balance will be sufficient to fund its operations into the second half of 2024.