Odyssey Therapeutics Inc. announced the pricing of its initial public offering at $18 per share for 15.5 million shares, and has provided underwriters with a 30-day option to buy as many as 2.325 million additional shares at the same price.
At the same time, the company disclosed a private placement of 1.388 million shares to an affiliate of TPG Life Sciences Innovations, also priced at $18 per share. Taken together, the IPO and the private placement are expected to generate about $304 million in gross proceeds before fees and expenses.
The company said its common stock is expected to start trading on the Nasdaq Capital Market on May 8, 2026 under the ticker symbol NASDAQ: ODTX. The offering is scheduled to close on or about May 11, 2026, subject to customary closing conditions.
J.P. Morgan, TD Cowen and Cantor are serving as joint book-running managers for the transaction. Wedbush PacGrow and Oppenheimer & Co. are listed as co-lead managers.
Odyssey describes itself as a clinical-stage biopharmaceutical company focused on developing therapies for autoimmune and inflammatory diseases. Founded in 2021, the company has assembled a portfolio of internally discovered drug candidates, and its first program has advanced through clinical milestones.
Regulatory filings related to the offering moved forward when the U.S. Securities and Exchange Commission declared the company’s registration statement on Form S-1 effective on May 7, 2026. The company noted that the private placement closing is contingent on completion of the IPO, while the IPO itself is not conditioned on the private placement closing.
Key operational and capital-markets milestones are now set: the effective S-1 declaration, the scheduled Nasdaq listing, and the expected timing for offering close. The combination of the public offering, the underwriters' option, and the concurrent private placement outline the near-term financing path the company will follow as its clinical programs progress.