The IPO Buzz: Odyssey Therapeutics (ODTX) Upsizes IPO & Prices it at $18 – High End
Odyssey Therapeutics (ODTX) upsized its IPO to 15.5 million shares – up from 13.2 million shares in the prospectus – and priced the deal at $18.00 – the top of its $16.00-to-$18.00 range – to raise $279 million on Thursday night, May 7, 2026. The company’s plans called for a concurrent private placement that was expected to produce about $25 million in proceeds, according to the prospectus.
The Boston-based biotech’s stock is expected to start trading tomorrow – Friday, May 8, 2026 – on the NASDAQ.
At pricing, Odyssey Therapeutics had a market cap of about $809.91 million.
J.P. Morgan, TD Cowen and Cantor were the joint book-runners.
Odyssey Therapeutics (ODTX) is developing its leading drug candidate, OD-001, in Phase 2 trials to treat ulcerative colitis (UC), one of the two main types of inflammatory bowel disease.
The IPO’s proceeds will help finance more clinical trials, the prospectus said.
The word on the Street was that Odyssey Therapeutics’ IPO was multiple times subscribed. The pricing details appear to confirm that.
Odyssey Therapeutics (ODTX) is not profitable: It company reported a net loss of $148.65 million on $2.97 million of collaboration revenue for the 12 months that ended Dec. 31, 2025, according to financial statements in the prospectus.
Source: https://www.iposcoop.com/the-ipo-buzz-odyssey-therapeutics-odtx-upsizes-ipo-prices-it-at-18-high-end/
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