$ODTX

Raymond James initiated coverage on Odyssey Therapeutics (ODTX) with an Outperform rating and a $42.00 price target. The stock is currently at $18.12, down 11% in the past week but up 10% year-to-date. The company is developing treatments for autoimmune and inflammatory conditions, with its lead asset OD-001 in Phase 2 trials. Analysts highlight the company's long-term potential and preclinical pipeline, though cash burn is noted.

Odyssey Therapeutics (ODTX) will present additional Phase 2a trial data for OD-001 in ulcerative colitis at UEG Week 2026. The presentation, by Bruce Sands, is scheduled for October 20. Odyssey will host a conference call the same day to discuss further data.

Odyssey Therapeutics (ODTX) reported Q2 2026 results with $433.1M cash, enough for operations into 2028. The company is advancing its lead drug OD-001, with Phase 2a data expected in October and two new trials planned. Net loss widened to $52.8M due to increased R&D spending. The company has no product revenue yet.

Pro-Dex (PDEX) rose 18% to $77 on FY'26 results, with net sales up 16% to $77.5M. Odyssey (ODTX) gained 8% to $29.05, reporting a Q2 loss of $52.8M. Evolus (EOLS) climbed 2% to $9.31, with Q2 revenue up 21% to $84.1M. Biofrontera (BFRI) increased 6% to $1.63, with Q2 product revenue up 32.9%. Alpha Tau (DRTS) hit $15.17, reporting a Q2 loss of $68.8M.

Odyssey Therapeutics (ODTX) debuted on Nasdaq at $20, raising $279M via an upsized offering. Shares initially climbed 13% but later fell 10% to $16. The company also raised $25M in a private placement, totaling $304M. Proceeds will fund drug development, including OD-001 for ulcerative colitis and Crohn's disease. The company reported net losses of $148.6M in 2025 and $129.3M in 2024, with $175.7M in cash as of March 2026.

HC Wainwright initiated coverage on Ascendis Pharma (ASND) with a Buy rating and $345 price target. Truist Securities initiated DigitalOcean (DOCN) with a Buy rating and $175 target. HC Wainwright also initiated Odyssey Therapeutics (ODTX) with a Buy rating and $44 target.

Biotech roundup reports multiple FDA and EU approvals: Replimune’s TUDRIQEV with Bristol Myers Squibb’s nivolumab for advanced melanoma, Takeda’s ORZEYFUL for narcolepsy type 1, Moderna’s mFLUSIVA flu vaccine for adults 50+, Sanofi’s MenQuadfi expanded EU use, and Novartis’ Pluvicto combo for PSMA+ mHSPC. It also covers Lisata layoffs, Emergent restructuring and Q2 results, and deals including Tarsus-Alkeus and Evotec-Odyssey.

Odyssey Therapeutics (ODTX) reported a wider Q2 2026 net loss of $52.8M, up from $41.2M a year earlier, driven by higher external R&D spending. Q2 R&D was $36.2M versus $30.2M in 2025. Cash and marketable securities totaled $433.1M, expected to fund operations into 2028. Pipeline updates include OD-001 Phase 2a expansion and further trials in 2026.

A dpa-AFX report says Bioventus (BVS), Trevi Therapeutics (TVTX), Odonate Therapeutics (ODTX) and Corcept? (CRL) hit 52-week highs on Aug. 5, 2026, after positive Q2 results. It also references Aclaris Therapeutics (ACRS) in the same context.

Evotec SE (NASDAQ: EVO) said it entered an R&D collaboration with Odyssey Therapeutics (NASDAQ: ODTX) to use Evotec’s AI-enabled discovery platform and screening capabilities to discover and validate small-molecule drug candidates for autoimmune and inflammatory diseases. Evotec will deliver validated hit series across multiple targets and may receive milestone payments; no financial terms were disclosed.