Omega Therapeutics Q4 2022 Earnings Report
Key Takeaways
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.
Advanced OTX-2002, the lead program, in the Phase 1/2 MYCHELANGELOâ„¢ I trial, with preliminary data anticipated in 2023.
Progressed IND-enabling studies for OTX-2101, a development candidate for MYC-driven non-small cell lung cancer, utilizing a novel lung-targeting lipid nanoparticle.
Ended the year with cash, cash equivalents, and marketable securities of $124.7 million as of December 31, 2022.
Strengthened the balance sheet with a $40 million registered direct offering.