Loading...
•
Sep 30, 2023
Omega Therapeutics Q3 2023 Earnings Report
Announced promising clinical data for OTX-2002 and advanced OMEGA platform capabilities.
Key Takeaways
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.
Promising preliminary clinical data for OTX-2002 from ongoing MYCHELANGELO™ I trial was announced.
Clinical proof-of-platform established with potential applicability across a broad range of diseases.
Advanced OMEGA platform capabilities and presented new preclinical data on multiple epigenomic controller programs at medical meetings.
Board of Directors strengthened with appointment of Chris Schade as Chairman and addition of Michelle C. Werner.
Omega Therapeutics
Omega Therapeutics
Forward Guidance
Omega expects to report updated clinical data from monotherapy dose escalation in the first half of 2024 and is planning to initiate expansion cohorts in monotherapy and in combination settings with standard of care agents mid-2024.
Positive Outlook
- OTX-2002 continues to advance in monotherapy dose escalation.
- The Company is actively evaluating patients with HCC in Cohort 3.
- Omega expects to report updated clinical data from monotherapy dose escalation in the first half of 2024.
- The Company is planning to initiate expansion cohorts in monotherapy.
- The Company is planning to initiate expansion cohorts in combination settings with standard of care agents mid-2024.