NASDAQ$OMGAQ
Omega Therapeutics Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Omega Therapeutics' financial performance and corporate developments were reported for Q3 2022.
Omega Therapeutics reported a net loss of $25.8 million for the third quarter of 2022, driven by increased R&D and G&A expenses. The company's cash, cash equivalents, and marketable securities totaled $148.3 million as of September 30, 2022. Key highlights included the first patient dosed in the Phase 1/2 MYCHELANGELO I trial of OTX-2002 and the selection of OTX-2101 for MYC-Driven Non-Small Cell Lung Cancer as a second development candidate.
- First patient dosed in Phase 1/2 MYCHELANGELO I Trial of OTX-2002.
- OTX-2002 granted Orphan Drug Designation by U.S. FDA for the treatment of Hepatocellular Carcinoma.
- OTX-2101 for MYC-Driven Non-Small Cell Lung Cancer selected as second Omega Epigenomic Controller™ Development Candidate.
- Company had $148.3 million in cash, cash equivalents and marketable securities as of September 30, 2022.
Headline financials
Revenue & EPS history
Omega Therapeutics · Revenue · Quarterly
$595K
Forward guidance
This press release contains forward-looking statements regarding the timing and design of clinical trials, the potential of the OMEGA platform, expectations surrounding product candidates, and expectations regarding the pipeline.
Tailwinds
- The Phase 1/2 MYCHELANGELOTM I clinical trial is ongoing.
- The OMEGA platform has the potential to engineer programmable epigenetic mRNA therapeutics.
- Product candidates like OTX-2002 and OTX-2101 show potential.
- The company is advancing multiple preclinical development programs.
- The company is working on treatments for oncology, immunology, regenerative medicine, and select monogenic diseases.
Headwinds
- The novel technology makes it difficult to predict the time and cost of development.
- There are substantial development and regulatory risks associated with epigenomic controller machines.
- The company has a limited operating history and expects to incur significant additional losses.
- Preclinical development is uncertain, especially for a new class of medicines.
- Product candidates may be associated with serious adverse events or undesirable side effects.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 9 quarterly earnings reports
-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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