NASDAQ$OMGAQ
Omega Therapeutics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Omega Therapeutics announced financial results for the first quarter ended March 31, 2024, and highlighted recent Company progress.
Omega Therapeutics reported a net loss of $20.1 million for the first quarter of 2024, compared to a net loss of $25.3 million for the first quarter of 2023. As of March 31, 2024, the Company had cash and cash equivalents totaling $60.0 million, expected to fund operations into Q1 2025.
- Advanced MYCHELANGELO™ I trial dose escalation to Cohort 5; Presentation of additional monotherapy data and planned expansion into Phase 2 settings expected in mid-2024
- Presented new preclinical data demonstrating potential of a MYC-targeting epigenomic controller in NSCLC at AACR 2024
- Company to present new preclinical data demonstrating durable epigenomic upregulation and other OMEGA platform capabilities at ASGCT 2024
- The Company expects to report additional clinical data from monotherapy dose escalation and expand into monotherapy and combination settings in mid-2024.
Headline financials
Revenue & EPS history
Omega Therapeutics · Revenue · Quarterly
$2.36M
Forward guidance
The Company's cash balance of $60.0 million as of March 31, 2024, along with a cost reduction and strategic prioritization initiative that occurred during the first quarter, is expected to fund operations into Q1 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 9 quarterly earnings reports · overlaid with Q1 2024
-5.1%
Avg return
Earnings day
-8.9%
Avg return
5 days after
-12.9%
Avg return
30 days after
47%
7 / 15 earnings
Positive
+14.2%
Q1 2023
Best reaction
-47.5%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -47.5% | -25.0% | -44.8% | |
| Q3 2024 | -22.6% | -30.7% | -9.2% | |
| Q2 2024 | -0.6% | +0.0% | -11.3% | |
| Q1 2024 | -16.7% | -16.1% | -17.3% | |
| Q4 2023 | -9.9% | -15.3% | -36.6% | |
| Q3 2023 | -3.4% | +5.1% | +28.7% | |
| Q2 2023 | +2.4% | -14.2% | -23.8% | |
| Q1 2023 | +14.2% | +9.1% | +4.4% | |
| Q4 2022 | +5.6% | +7.0% | -6.7% | |
| Q3 2022 | -3.8% | — | — | |
| Q2 2022 | +9.3% | — | — | |
| Q1 2022 | +0.3% | — | — | |
| Q4 2021 | -6.4% | — | — | |
| Q3 2021 | +1.5% | — | — | |
| Q2 2021 | +0.9% | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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