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Jun 30, 2023
Omega Therapeutics Q2 2023 Earnings Report
Omega Therapeutics reported financial results for the second quarter of 2023 and highlighted company progress.
Key Takeaways
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.
Continued enrollment in the monotherapy dose escalation stage of Phase 1/2 MYCHELANGELO™ I study.
Preliminary first-in-human safety, tolerability, pharmacologic and translational data anticipated in the fourth quarter of 2023.
Presented new preclinical data at ASCO 2023 demonstrating the potential of MYC-targeting Omega Epigenomic Controllers™ to synergize with immunotherapies.
Further strengthened the Board of Directors with the appointment of Chris Schade.