NASDAQ$OMGAQ
Omega Therapeutics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2023 financial results and provided a strategic update.
Omega Therapeutics reported clinical validation of an epigenomic controller, a research collaboration with Novo Nordisk, and a strategic prioritization to extend cash runway into Q1 2025.
- Advanced OTX-2002 in MYCHELANGELO™ I trial, demonstrating encouraging disease control rate in late-stage HCC patients.
- Established a research collaboration with Novo Nordisk to develop an epigenomic controller for obesity, expanding the pipeline into the cardiometabolic space.
- Announced strategic prioritization to focus resources on potential near-term value drivers, support long-term growth, and extend cash runway into Q1 2025.
- OTX-2002 continued to be generally well tolerated, with no dose-limiting toxicities observed.
Headline financials
Revenue & EPS history
Omega Therapeutics · Revenue · Quarterly
$989K
Forward guidance
Omega Therapeutics is focused on advancing its lead program and maximizing value creation from its platform, with expectations to extend cash runway into Q1 2025.
Tailwinds
- Achieve key clinical data readouts from the monotherapy dose escalation and dose expansion stages of the MYCHELANGELO I clinical trial.
- Prioritize preclinical programs including OTX-2101 for non-small cell lung cancer (NSCLC).
- Prioritize the HNF4A program in liver regeneration.
- Continue development of an epigenomic controller for obesity in collaboration with Novo Nordisk.
- Continue core work on platform biology, epigenomic controllers, and characterization of LNP delivery to the lung and other tissues.
Headwinds
- Difficult but necessary actions to streamline our team and optimize our R&D efforts and cost structure.
- Changes will unfortunately affect a number of our colleagues.
- Uncertainty regarding preclinical development, especially for a new class of medicines such as epigenomic controllers.
- Potential delays in and unforeseen costs arising from our clinical trials.
- Product candidates may be associated with serious adverse events, undesirable side effects or have other properties that could halt their regulatory development
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 Q4 2023
-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