Odyssey Therapeutics Hits $900M Valuation In Nasdaq Debut, Stock Climbs 13% Before Diving Lower

• Odyssey Therapeutics stated that it had also raised an additional $25 million through a private placement of 1.39 million shares of its common stock to an affiliate of TPG Life Sciences Innovations.
• Odyssey plans to use the proceeds of the offering and private placement to advance the development of OD-001, its most advanced drug candidate for the treatment of ulcerative colitis and Crohn’s disease.
• It also disclosed plans to advance its SLC15A4 program and to fund additional discovery, preclinical, and clinical activities for disclosed or future programs.

Shares of Odyssey Therapeutics Inc. (ODTX) gained nearly 13% in its debut on the Nasdaq on Friday, reaching a valuation of $900 million as equity markets hover near new all-time highs.

Odyssey Therapeutics shares debuted on the Nasdaq at $20. However, the stock has lost all its gains at the time of writing, trading nearly 10% lower at $16 per share, compared to its issue price of $18 per share.

The Boston-based clinical-stage biopharmaceutical company raised $279 million through an upsized offering, issuing 15.5 million shares of its common stock. The company also stated that the underwriters have an option to purchase up to an additional 2.33 million shares within 30 days from the date of issue.

Retail sentiment on Stocktwits around Odyssey Therapeutics trended in the ‘neutral’ territory at the time of writing.

ODTX Raises Additional $25M From Private Placement

Odyssey Therapeutics stated that it had also raised an additional $25 million through a private placement of 1.39 million shares of its common stock to an affiliate of TPG Life Sciences Innovations at the IPO price of $18 per share.

Overall, Odyssey’s gross proceeds from the public issue and the private placement stood at $304 million.

The company had previously filed for an IPO in 2025, but withdrew it a few months later.

Odyssey plans to use the proceeds of the offering and private placement to advance the development of OD-001, its most advanced drug candidate for the treatment of ulcerative colitis and Crohn’s disease. It also disclosed plans to advance its SLC15A4 program and to fund additional discovery, preclinical, and clinical activities for disclosed or future programs.

What Does ODTX Do?

Odyssey Therapeutics is a clinical-stage biotech company developing targeted treatments for autoimmune and inflammatory diseases.

Founded in 2021, the company has built an internally developed pipeline of drug candidates that precisely target disease pathways and deliver deeper, longer-lasting remission for patients with unmet medical needs.

According to the company’s filings with the U.S. Securities and Exchange Commission (SEC), Odyssey reported a net loss of $148.6 million in 2025, while its net loss for 2024 stood at $129.3 million.

Odyssey stated that it had $175.7 million in cash, cash equivalents, and marketable securities as of March 31, 2026.

The Renaissance IPO ETF (IPO) is up 20% over the past 12 months.

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