Odyssey Therapeutics IPO Priced at $18, Aims for $304M

Key IPO Details

Odyssey Therapeutics has priced its upsized initial public offering of 15.5 million shares at $18 per share. The clinical-stage biopharmaceutical firm is focused on developing treatments for autoimmune and inflammatory diseases.

Offering and Financial Overview

The company expects to raise gross proceeds of approximately $304 million from the IPO and a concurrent private placement of 1.388 million shares to an affiliate of TPG Life Sciences Innovations. Underwriters also have a 30-day option to purchase up to an additional 2.325 million shares at the IPO price.

Market Debut and Trading Information

Odyssey Therapeutics' common stock is expected to begin trading on the Nasdaq Capital Market on May 8, 2026, under the ticker symbol ODTX. The offering is managed by joint book-runners including J.P. Morgan, TD Cowen, and Cantor.

Summary

This IPO represents a significant financial milestone for the company, founded in 2021, providing substantial capital to advance its clinical programs. The market will closely monitor the stock's debut, with the offering anticipated to close on or about May 11, 2026, subject to standard closing conditions.

FAQ

Q: What is Odyssey Therapeutics' IPO price and ticker symbol?
A: The IPO is priced at $18.00 per share, and the stock will trade on Nasdaq under the ticker ODTX.

Q: How much capital is Odyssey Therapeutics expected to raise?
A: The company anticipates gross proceeds of approximately $304 million from the combined IPO and private placement before deductions.

Source: Investing.com