ODTX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• development projects or if, when and to what extent we will generate revenue from the commercialization and sale of our product candidates, if approved.

• Research and development expenses increased by $6.0 million, from $30.2 million for three months ended June 30, 2025 to $36.2 million for the three months ended June 30, 2026. This increase was primarily attributable to:

• a $6.2 million increase in external expenses associated with preclinical and clinical studies, primarily due to an increase in CRO expenses and chemistry, manufacturing, and controls activities primarily associated with our ongoing OD-001 phase 2a monotherapy trial;

• a $0.5 million increase in research software, professional services and laboratory operations, primarily due to the increase in research reagents to support increased level of research activity across the discovery and toxicology programs; and

• a $0.3 million increase in facility-related costs, primarily due to disposal of fixed assets.

Text removed vs the prior filing · source: 10-Q · 2026-06-17

• Additional funds will be necessary to maintain our current operations and to continue our research and development activities.

• Comparison of the Three Months Ended March 31, 2026 and 2025

• Research and development expenses decreased by $6.5 million, from $38.8 million for the three months ended March 31, 2025 to $32.3 million for the three months ended March 31, 2026. This decrease was primarily attributable to:

• a $6.3 million decrease in facility related costs primarily related to an impairment of our San Diego lease right-of-use asset during the three months ended March 31, 2025;

• a $2.8 million decrease in internal personnel-related expenses, primarily attributable to a lower headcount during the three months ended March 31, 2026 as compared to March 31, 2025; and

Text added vs the prior filing · source: 10-Q · 2026-08-06

• As a "smaller reporting company," as defined by Item 10 of Regulation S-K of the Exchange Act, and pursuant to Item 305 of Regulation S-K, we are not required to provide quantitative and qualitative disclosures about market risk.

Text removed vs the prior filing · source: 10-Q · 2026-06-17

• The primary objectives of our investment activities are to ensure liquidity and to preserve capital. As of March 31, 2026, we had $0.1 million in interest bearing money market accounts with maturities of less than three months. As of March 31, 2026, we had $140.0 million in marketable securities. Ou…

• Our employees and our operations are currently predominately located in the United States and our expenses are generally denominated in U.S. dollars. However, we do have a small number of employees located in Germany and use research and development vendors outside of the United States. As such, our…

• To date, foreign currency transaction gains and losses have not been material to our consolidated financial statements, and we have not had a formal hedging program with respect to foreign currency. We do not believe that a hypothetical 10% increase or decrease in exchange rates during any of the pe…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• sooner than we expect. Additionally, because the design and outcome of our planned and anticipated preclinical studies and clinical trials are highly uncertain, we cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of any product ca…

• Even if we believe that we will have sufficient funds for our current or future operating plans, we may seek additional capital if market conditions are favorable or if there are specific strategic considerations for doing so. To the extent

• that we raise such additional capital through the sale of equity or convertible debt securities, our stockholders’ ownership interest will be diluted and the terms of such securities may include liquidation or other preferences that adversely affect the rights of our existing stockholders. Debt fina…

• life insurance on the lives of our executives or any of our employees, we may not have adequate compensation for the loss of the services of these individuals.

• Our success also depends on our ability to continue to receive adequate attention from our key leaders as we execute on our growth strategy. For example, in addition to his services to Odyssey as CEO, Dr. Glick began serving as Executive Chair of Charm Therapeutics Limited, or Charm, a biotechnology…

Text removed vs the prior filing · source: 10-Q · 2026-06-17

• Even if we believe that we will have sufficient funds for our current or future operating plans, we may seek additional capital if market conditions are favorable or if there are specific strategic considerations for doing so. To the extent that we raise such additional capital through the sale of e…

• Our success also depends on our ability to continue to receive adequate attention from our key leaders as we execute on our growth strategy. For example, in addition to his services to Odyssey as CEO, Dr. Glick began serving as Executive Chair of Charm Therapeutics Limited, or Charm, a biotechnology…

• unforeseen developments at Charm could require Dr. Glick to divert his attention for a period of time from his role at Odyssey in order to fulfill his responsibilities at Charm. None of our other key leaders currently has an outside role that we believe could detract from their ability to fulfill th…

• Our current operations are concentrated predominantly in Boston, Massachusetts and Ann Arbor, Michigan. Any unplanned event, such as a flood, explosion, extreme weather condition, epidemic or pandemic, power outage, telecommunications failure or other natural or manmade accidents or incidents that r…

• Federal Trade Commission, or the FTC, has required other companies to turn over (or disgorge) valuable insights or trainings generated through the use of AI/ML where they allege the company has violated privacy and consumer protection laws. If we cannot use AI/ML or our use is restricted, our precli…