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NEWS

Omega Therapeutics Announces Successful Completion of Phase 1 Trial for Novel Epigenomic Controller, Prioritized Pipeline, Leadership Changes, and Third Quarter 2024 Financial Results
Positive
Phase 1 MYCHELANGELO trial showed 50% disease control rate in HCC patients
Reduced net loss to $16.4M in Q3 2024 from $22.2M in Q3 2023
R&D expenses decreased by $3.7M compared to Q3 2023
G&A expenses reduced by $1.0M compared to Q3 2023
Ongoing collaboration with Novo Nordisk for obesity program
Negative
$30.4M cash runway only extends into Q2 2025
Deprioritization of OTX-2101 and CXCL1-8 programs
Phase 2 development of OTX-2002 dependent on finding strategic partners
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