Omega Therapeutics Q2 2024 Earnings Report
Key Takeaways
Omega Therapeutics reported its second quarter 2024 financial results, highlighting progress in the MYCHELANGELOâ„¢ 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.
Advanced MYCHELANGELOâ„¢ I trial; Company expects to select recommended dose for expansion and initiate monotherapy and combination expansion cohorts in fourth quarter of 2024
Reinforced diverse capabilities of the OMEGA platform at scientific meetings, including demonstration of precise and durable upregulation of gene expression
Strengthened leadership team with appointment of Kaan Certel, Ph.D., as Chief Business Officer and election of Richard N. Kender to Board of Directors
Made steady progress towards identifying the recommended dose for expansion (RDE) of OTX-2002, with patient enrollment ongoing in Cohort 6 at the 0.2 mg/kg dose level across sites in the U.S. and Asia, and expects to report updated clinical data and is planning for expansion into monotherapy and combination settings in the fourth quarter of 2024.
Omega Therapeutics
Omega Therapeutics
Forward Guidance
The company expects its current cash and cash equivalents to fund operations into Q1 2025 and is planning for expansion into monotherapy and combination settings in the fourth quarter of 2024.