Odyssey Therapeutics, Inc.
For the period ended Mar 31, 2026. Filed Jun 17, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Jun 17, 2026
ODTX$20.00+4.4%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(in thousands) (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(38,262) | $(38,435) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,171 | 1,299 |
| Loss (gain) from disposal of property and equipment | (33) | 495 |
| Right-of-use asset impairment expense | — | 5,440 |
| Accretion of discount on marketable securities | (296) | (501) |
| Stock-based compensation expense | 2,587 | 2,989 |
| Non-cash rent expense | 879 | 1,024 |
| Change in fair value of contingent consideration and warrant liability | 109 | (5,648) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 3 | 618 |
| Other non-current assets | (1,686) | (2,008) |
| Accounts payable | 484 | 713 |
| Lease liabilities | (1,225) | (1,065) |
| Accrued expenses and other current liabilities | (4,766) | (3,542) |
| Net cash used in operating activities | (41,035) | (38,621) |
| Cash flows from investing activities: | ||
| Maturities of marketable securities | 34,950 | 35,000 |
| Purchases of property and equipment | (148) | (927) |
| Proceeds from sale of property and equipment | — | 54 |
| Net cash provided by investing activities | 34,802 | 34,127 |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of common stock options | 651 | 235 |
| Payment of deferred offering costs | (143) | — |
| Principal payments on finance leases | (24) | (35) |
| Net cash provided by financing activities | 484 | 200 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 24 | 69 |
| Decrease in cash, cash equivalents and restricted cash | (5,725) | (4,225) |
| Cash, cash equivalents and restricted cash, beginning of period | 44,897 | 62,346 |
| Cash, cash equivalents and restricted cash, end of period | $39,172 | $58,121 |
| Cash and cash equivalents, end of period | $35,719 | $54,911 |
| Restricted cash, included in other non-current assets, end of period | 3,453 | 3,210 |
| Total cash, cash equivalents and restricted cash, end of period | $39,172 | $58,121 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes | $30 | $40 |
| Cash paid for interest | $10 | $2 |
| Supplemental disclosure of non-cash financing and investing activities: | ||
| Deferred offering costs included in accounts payable and accrued expenses and other current liabilities | $1,603 | $5,677 |
| Purchases of property and equipment included in accounts payable | $— | $— |
| Right-of-use assets obtained in exchange for new finance lease liabilities | $278 | $— |
| Remeasurement of right-of-use assets and lease liabilities | $— | $— |
| Unrealized loss on marketable securities | $180 | $43 |
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