Odyssey Therapeutics Announces Pricing of Upsized Initial Public Offering

Odyssey Therapeutics, Inc. has announced the pricing of its upsized initial public offering (IPO) of 15,500,000 shares of common stock at $18.00 per share. The company has also granted underwriters a 30-day option to purchase an additional 2,325,000 shares at the same price. In a concurrent move, Odyssey is selling 1,388,889 shares of common stock to an affiliate of TPG Life Sciences Innovations in a private placement, also priced at $18.00 per share.

The total gross proceeds from the IPO and the private placement are expected to be approximately $304 million, not accounting for any shares that may be purchased under the underwriters’ option and before deducting associated fees and expenses. Odyssey’s common stock is expected to begin trading on the Nasdaq Capital Market under the ticker symbol “ODTX” on May 8, 2026, with the offering anticipated to close on or about May 11, 2026, subject to customary closing conditions.

J.P. Morgan, TD Cowen, and Cantor are acting as the joint book-running managers for the IPO, while Wedbush PacGrow and Oppenheimer & Co. serve as co-lead managers. A registration statement related to the offering was filed with the Securities and Exchange Commission and became effective on May 7, 2026.

The closing of the concurrent private placement is contingent upon the completion of the IPO, whereas the IPO's closing is not dependent on the private placement. The statement emphasizes that this announcement does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where such offers would be illegal prior to appropriate registration or qualification.