NASDAQ$OMGAQ
Omega Therapeutics Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported second quarter results and highlighted company progress.
Omega Therapeutics reported its second quarter 2024 financial results, highlighting progress in the MYCHELANGELO™ I trial and advancements in the OMEGA platform. The company's cash and cash equivalents totaled $45.9 million, expected to fund operations into Q1 2025.
- Advanced MYCHELANGELO™ I trial; Company expects to select recommended dose for expansion and initiate monotherapy and combination expansion cohorts in fourth quarter of 2024
- Reinforced diverse capabilities of the OMEGA platform at scientific meetings, including demonstration of precise and durable upregulation of gene expression
- Strengthened leadership team with appointment of Kaan Certel, Ph.D., as Chief Business Officer and election of Richard N. Kender to Board of Directors
- Made steady progress towards identifying the recommended dose for expansion (RDE) of OTX-2002, with patient enrollment ongoing in Cohort 6 at the 0.2 mg/kg dose level across sites in the U.S. and Asia, and expects to report updated clinical data and is planning for expansion into monotherapy and combination settings in the fourth quarter of 2024.
Headline financials
Revenue & EPS history
Omega Therapeutics · Revenue · Quarterly
$2.13M
Forward guidance
The company expects its current cash and cash equivalents to fund operations into Q1 2025 and is planning for expansion into monotherapy and combination settings in the fourth quarter of 2024.
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 Q2 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro