Odyssey Therapeutics, Inc. · NASDAQ:ODTX
Odyssey Therapeutics — UEG Week 2026 Investor Webcast
47 slides from Odyssey Therapeutics's conference presentation, Oct 20, 2026
Slide 1: OD-001 Phase 2a Monotherapy Trial Update
OD-001 Phase 2a Monotherapy Trial Update Investor and Analyst Webcast October 20, 2026 Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In sear ch of extr aor di nar y for pati ents
Slide 2: Disclaimers
Disclaimers Forward-looking statements and third-party information This presentation contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-lo
Slide 3: Overview of Presenters
Overview of Presenters Gary D. Glick, Ph.D. Anthony Opipari, M.D., Ph.D. Collin Todd Founder and Chief Medical Officer Senior Vice President, Chief Executive Officer Strategy and Business Development Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In sear ch of extr aor di nar y for pati
Slide 4: Today's Presentation – OD-001 Phase 2a Monotherapy Trial in UC
Today’s Presentation – OD-001 Phase 2a Monotherapy Trial in UC New information today Totality of phase 2a data Full 10 mg BID dataset Converging lines of evidence support clinical efficacy of OD-001, a • Shows evidence of a dose response first-in-class RIPK2 scaffolding inhibitor • Confirms that 20
Slide 5: Inflammatory Bowel Disease and RIPK2
Inflammatory Bowel Disease and RIPK2 Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 5
Slide 6: Despite Multiple Approved Drugs, Significant Unmet Need Remains in IBD
Despite Multiple Approved Drugs, Significant Unmet Need Remains in IBD IBD encompasses two serious and UC and CD differ in anatomical distribution and natural prevalent diseases, ulcerative colitis history but share pathogenic mechanisms: (UC) and Crohn’s disease (CD) • Intestinal barrier disruption
Slide 7: RIPK2 Plays a Central Role in the Pathogenesis of IBD
RIPK2 Plays a Central Role in the Pathogenesis of IBD Innate Adaptive Epithelium Gut Lamina RIPK2 transduces NOD1/2 lumen propria inflammatory signaling… Lymph node egress OD-001 NOD1/2 IL-23 Bacteria RIPK2 T cells TNF in gut TLRs TL1A … and RIPK2 activation amplifies TLR inflammatory Neutrophil sig
Slide 8: RIPK2 Is a Validated Target to Treat IBD
RIPK2 Is a Validated Target to Treat IBD Animal data Human data Microbes are required for spontaneous colitis in rodent RIPK2 pathway activation is increased in models intestinal tissue from patients with both UC and CD RIPK2 knockout reduces inflammatory cytokines and RIPK2 ubiquitination is observ
Slide 9: RIPK2 Is Activated in UC and CD and Correlates With Severity
RIPK2 Is Activated in UC and CD and Correlates With Severity Increased levels of activated (ubiquitinated) Increased expression of RIPK2-responsive gene RIPK2 scaffolding with XIAP is necessary for RIPK2 in patients with UC and CD signature in IBD patient biopsies activation and inflammatory signali
Slide 10: RIPK2 Drugs Must Block Scaffolding to Fully Inhibit NOD2 Signaling
RIPK2 Drugs Must Block Scaffolding to Fully Inhibit NOD2 Signaling Mol Cell 2018;69(4):551–565 EMBO J 2018;37(17):e99372 Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In sear ch of extr aor di nar y for pati ents 10
Slide 11: Blocking RIPK2 Scaffolding With OD-001 Achieves Maximal Inhibition
Blocking RIPK2 Scaffolding With OD-001 Achieves Maximal Inhibition OD-001 is an allosteric scaffolding inhibitor that Relationship between OD-001 and XIAP binding to OD-001 blocks cytokine production from reduces the affinity for XIAP RIPK2 macrophages stimulated with PGN 100 100 100 100 80 % XIAP b
Slide 12: Not All RIPK2 Scaffolding Inhibitors Are the Same
Not All RIPK2 Scaffolding Inhibitors Are the Same OD-001 blocks TL1A production in response to microbial Pharmacology of noncompetitive allosteric inhibitors stimulation (PGN) in human macrophages Scaffolding + XIAP % TL1A production RIPK2 RIPK2:XIAP 100 +I Kd +I 50 + XIAP RIPK2:I RIPK2:I:XIAP KD 0
Slide 13: Phase 2a Monotherapy Trial
Phase 2a Monotherapy Trial NCT06850727 Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 13
Slide 14: Rationale and Dose Selection for Proof-of-Concept Phase 2a Trial
Rationale and Dose Selection for Proof-of-Concept Phase 2a Trial • OD-001 is the first innate immune-targeted therapy and the first RIPK2 scaffolding inhibitor to enter UC clinical development • Trial was designed to assess safety and efficacy of OD-001 and determine whether to advance the program -
Slide 15: Phase 2a Monotherapy Trial Overview
Phase 2a Monotherapy Trial Overview • Patients with moderately to severely active UC and an mMS of 5–9 were enrolled from 18 sites across seven countries; up to three prior advanced therapies were permitted • Dosing strategy: - Part 1: Initial evaluation at 10 mg BID to ensure safety in UC patients
Slide 16: Participant Characteristics Are Similar to Other Contemporary UC Trials
Participant Characteristics Are Similar to Other Contemporary UC Trials OD-001 Obefazimod SPY001 Icotrokinra Tulisokibart Duvakitug Afimkibart RIPK2 miR-124 a4b7 IL-23 TL1A TL1A TL1A Phase 2, Phase Phase 2a Phase 2b Phase 3 Phase 2b Phase 2 Phase 2b Phase 2b Part A Age, mean 40 41 42 44 42 41 41 39
Slide 17: Biomarker, Efficacy, and Safety Assessments
Biomarker, Efficacy, and Safety Assessments Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 17
Slide 18: Induction Portion of the OD-001 Phase 2a Trial Is Complete
Induction Portion of the OD-001 Phase 2a Trial Is Complete New clinical data presented today Key implications Total of 56 evaluable patients Greatest efficacy observed at the dose that maximally inhibits RIPK2 • Previously, Odyssey reported results from • 20 mg BID phenocopies cytokine inhibition fr
Slide 19: Markers of Systemic and Local Inflammation Are Reduced After OD-001 Treatment
Markers of Systemic and Local Inflammation Are Reduced After OD-001 Treatment • 20 mg BID dosing results in reduced fecal calprotectin across treated patients • 20 mg BID results in reduced serum C-reactive protein • 10 mg and 20 mg BID result in increased serum albumin - Serum albumin may increase
Slide 20: Efficacy Across Prespecified Week Endpoints vs. Historic Placebo
Efficacy Across Prespecified Week 12 Endpoints vs. Historic Placebo • Trial met the primary endpoint of change in mMS from baseline in both parts and on a consolidated basis (-2.4, p < 0.001) • Stronger efficacy observed with 20 mg BID Regulatory endpoints Other endpoints 70% 60% % Trial participant
Slide 21: Higher Remission Rate With 20 mg BID Dose in Severe Patients (MES = 3)
Higher Remission Rate With 20 mg BID Dose in Severe Patients (MES = 3) Similar activity between OD-001 doses in patients with moderate disease Dose-dependent activity in patients with severe disease (MES = 2) (MES = 3) • Clinical remission rates in patients with moderate endoscopic disease are • Gre
Slide 22: Clinical Remission Rate Similar in AT-Naïve and AT-Experienced Patients
Clinical Remission Rate at 20 mg BID Is Similar in AT-Naïve and AT-Experienced Patients • Existing therapies often show reduced activity in AT-experienced patients, whereas OD-001 shows similar activity in both populations 50% Advanced therapy naïve (n = 28) Advanced therapy experienced (n = 13) 40%
Slide 23: OD-001 Is Competitive With Other Oral Agents on Early Symptomatic Remission
OD-001 Is Competitive With Other Oral Agents on Early Symptomatic Remission, With Increases Through Week 12 OD-001 (20 mg BID) Icotrokinra (IL-23) Obefazimod (miR-124) Patients achieving symptomatic remission (%) Proportion in symptomatic remission (%) Proportion in symptomatic remission (%) n=33(1)
Slide 24: OD-001 Is Safe and Well Tolerated Across Doses
OD-001 Is Safe and Well Tolerated Across Doses Part 1 Part 2 Group 1 Group 2 Total 10 mg BID, n = 16 10 then 20 mg BID, n = 9 20 mg BID, n = 36 n = 45 Total number of TEAEs 11 20 20 40 Severe (grade ≥ 3) TEAE 1 (anemia) (1) 0 0 0 Drug-related TEAE 0 0 3 3 Liver function abnormality identified as a T
Slide 25: Summary and Conclusions
Summary and Conclusions OD-001 20 mg BID has a competitive efficacy profile vs. approved or leading investigational therapies • 27% absolute clinical remission rate with rapid onset of symptomatic benefit • Efficacy across patient subgroups (e.g., AT experience and endoscopic severity) supports pote
Slide 26: Transcriptomic Analyses
Transcriptomic Analyses Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 26
Slide 27: Transcriptomic Analysis of Mucosal Biopsies From Baseline and Week 12
Transcriptomic Analysis of Mucosal Biopsies From Baseline and Week 12 • Initial analyses conducted to support target engagement/mechanism of action and to support clinical efficacy endpoints - Biopsy timing is not uniform, so analyses reflect sustained treatment-associated biology vs. immediate drug
Slide 28: OD-001 Reduces Inflammatory and Fibrotic Gene Expression in IBD
OD-001 Reduces Inflammatory and Fibrotic Gene Expression in IBD • Transcriptomic analysis on mucosal biopsies from patients treated with 20 mg BID (n = 40) at baseline and week 12 were compared to detect differentially expressed genes p value (-log10) - Colored dots represent differentially regulate
Slide 29: Reductions in RIPK2 Gene Signature and Cytokine Gene Responses Track With Clinical Outcomes
Reductions in RIPK2 Gene Signature and Cytokine Gene Responses Following OD-001 Treatment Track With Clinical Outcomes RIPK2 IL-23 TNF TL1A * ** * ** RIPK2 gene signature, GSVA TNF/NF-kB signaling, GSVA TL1A signaling, GSVA IL-23 signaling, GSVA Clinical Clinical No Clinical Clinical No Clinical Cli
Slide 30: Reduction in T Effector Activation Signatures Following OD-001 Treatment
Reduction in T Effector Activation Signatures Following OD-001 Treatment Th17 gene signature Th1 gene signature (RORγ+ T cell subset) (T-bet+ T cell subset) ** ** Th17-associated genes, GSVA Th1-associated genes, GSVA Clinical Clinical No Clinical Clinical No remission response response remission re
Slide 31: OD-001 Modulates a Distinct Set of Inflammatory Genes Not Addressed With Existing Therapies
OD-001 Modulates a Distinct Set of Inflammatory Genes Not Addressed With Existing Therapies OD-001 blocks direct activation of the MAPK pathway from gut bacteria, AP-1 signature downregulation similar to OD-001 is not observed in addressing redundancy missed by existing anti-cytokine therapies publi
Slide 32: Reduction in Fibrosis-Related Genes and Upregulation of Healing Genes
Reduction in Fibrosis-Related Genes and Upregulation of Genes Associated With Healing Align With Clinical Outcomes Inflammatory fibroblast Penetrating fibrosis Epithelial homeostasis ** ** ** * Penetrating fibrosis signature, GSVA Inflammatory fibrosis specific, GSVA Epithelial homeostasis, GSVA Cli
Slide 33: Depth of Reduction in Penetrating Fibrosis Signature May Differentiate Responders
Depth of Reduction in the Penetrating Fibrosis Signature May Differentiate Responders From Effective Treatments Versus Placebo Golimumab Placebo OD-001 *** ** *** *** GSVA signature, GSVA signature, GSVA GSVA signature,GSVA GSVA fibrosis signature, fibrosissignature, fibrosissignature, Penetratingfi
Slide 34: Transcriptomic Changes, Histology, and Fecal Calprotectin Show Concordant Effects in Remitters
Transcriptomic Changes, Histology, and Fecal Calprotectin Show Concordant Effects in Clinical Remitters Pro-inflammatory Fibrotic Histologic Mucosal Week 12 – baseline, standardized score signaling remodeling disease activity inflammation No response No change relative to baseline Clinical 1 Patient
Slide 35: Differential Expression Correlates With Efficacy Measures and Overlaps With Anti-IL-23 Response
Differential Expression of Genes Following OD-001 Treatment Correlates With Efficacy Measures and Overlaps With the Response to Anti-IL-23 Genes most highly correlated with efficacy measures include IL-1β, IL-23, and IL-17, all of which are associated with inflammation OD-001 Mirikizumab -log10 (q-v
Slide 36: Patient-Level Analyses of Transcriptional Changes Compared With Public Datasets
Patient-Level Analyses of Transcriptional Changes With OD-001 Compared With Publicly Available Datasets • Three public UC transcriptomic datasets were identified that included patient-level data suitable for direct responder-based comparisons with OD-001 • OD-001 downregulates a majority of a publis
Slide 37: Biological Processes Modulated in Responders to OD-001 Are Similar to Other Effective Treatments
Biological Processes Modulated in Responders to OD-001 Are Similar to Other Effective Treatments COMPARISON KEY BIOLOGY IMPLICATION ↓ Inflammatory monocytes Shared among all therapies Common features associated with effective OD-001, infliximab, vedolizumab ↓ TNF / NF-κB, Th17, and IL-6 signaling UC
Slide 38: Concluding Remarks
Concluding Remarks Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 38
Slide 39: Summary of Key Findings
Summary of Key Findings • Phase 2a trial provides clinical proof of concept for a first-in-class oral therapy targeting RIPK2 with a compelling efficacy and safety profile - Biomarkers and transcriptomics link RIPK2 scaffolding inhibition with clinical efficacy • Efficacy, biomarker, and transcripto
Slide 40: Next Steps for OD-001
Next Steps for OD-001 • Advance OD-001 in parallel as a monotherapy and in combination for ulcerative colitis • Establish OD-001 in ulcerative colitis before expanding into Crohn’s disease or other inflammatory indications (e.g., spondyloarthritis, a common comorbidity in IBD) • Placebo-controlled m
Slide 41: Upcoming Milestones for Lead Programs Through 2028
Upcoming Milestones for Lead Programs Through 2028 • In addition to advancing RIPK2, Odyssey expects to file a CTA for OD-002, an SLC15A4 inhibitor, in H2 2026, with phase 1/2a trial initiation expected in H1 2027 - Phase 1 healthy-volunteer trial will use a validated ex vivo stimulation assay that
Slide 42: Appendix
Appendix Copyright 2026 | Odyssey Therapeutics | All Rights Reserved In In sear ch ch sear of of extr aoraor extr di nar y for di nar pati y for ents pati ents 42
Slide 43: Efficacy Analysis of Complete 10 mg BID Cohort
Efficacy Analysis of Complete 10 mg BID Cohort • Among the seven additional evaluable patients, one reached clinical remission, one had endoscopic improvement, and five had no response - All additional patients were enrolled at existing phase 2a clinical trial sites and were naïve to advanced therap
Slide 44: Historic Placebo Rates Derived From UC Trial Meta-Analysis
Historic Placebo Rates Derived From UC Trial Meta-Analysis AVERAGE HISTORIC PLACEBO Includes approved, in development, 38 Phase 2 and 3 trials Clinical remission = 10% endpoint and discontinued 2005–2025 data readouts FDA n = 14,881 11 Phase 2/3 trials drugs Total = 3,012, placebo group = 820 Endosc
Slide 45: Clinical Responders at Week 12 May Benefit From Continued Treatment
Clinical Responders at 12 Weeks May Benefit From Continued Treatment Patients with clinical response showed rapid reductions in rectal bleeding, … stool frequency also showed rapid reduction, but rate of improvement similar to patients with clinical remission… appears slower Rectal bleeding score by
Slide 46: OD-001 Treatment Downregulates Genes Associated With Poor Response to Anti-TNF Therapy
OD-001 Treatment Downregulates Genes Associated With Poor Response to Anti-TNF Therapy • A published 34-gene mucosal signature that is predictive at baseline for patients with non-response to anti-TNF therapy FCGR3A TREM1 • OD-001 treatment significantly downregulated S100A8 FCGR3B 29 of these 34 ge
Slide 47: Transcriptional Response to OD-001 Overlaps With Anti-TNF or Anti-α4β7 Gene Changes
Transcriptional Response to OD-001 Overlaps With Gene Changes From Approved Anti-TNF or Anti-⍺4β7 Therapies OD-001 responders show concordant mucosal gene changes with infliximab or vedolizumab responders Infliximab Vedolizumab C4BPA AQP8 AQP8 C4BPA TNIP3 TNIP3 PADI2 PADI2 p value (-log10) ANXA1 MMP
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