1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
OMGA
Event Date
2021-07-30
Sector
Health Care
Subsector
Biotechnology
Offer Range
$17.00-$17.00
Shares Offered
7.4M
47.76M
$794.3M
15.5%
Implied Upside vs Midpoint
Description
At Omega Therapeutics, our goal is to pioneer a new class of DNA-sequence-targeting, mRNA-encoded therapeutics to fundamentally transform human medicine in the service of patients. Our pioneering OMEGA Epigenomic Programming platform is designed to coopt nature’s universal operating system by harnessing the power of epigenetics, the mechanism for gene control and cell differentiation. We have deciphered the three-dimensional architecture of the human genome and its accompanying regulators, which are organized into distinct and evolutionarily conserved structures called Insulated Genomic Domains, or IGDs. IGDs are the fundamental structural and functional units of gene control and cell differentiation and act as the “control room” of biology. Most diseases are caused by aberrant gene expression rooted in alterations in IGDs. The OMEGA platform has enabled us to systematically identify and validate thousands of novel DNA-sequence-based epigenomic “zip codes” within IGDs. We call these epigenomic targets EpiZips. We rationally design and engineer modular, programmable mRNA-encoded epigenetic medicines, which we call Omega Epigenomic Controllers, or OECs, to target EpiZips for Precision Genomic Control. This enables us to precisely tune genes to a desired level of expression and to control the duration of expression. Through this approach, we believe that the OMEGA platform has broad potential applicability across a range of diseases and conditions. Our pipeline currently consists of early-stage, preclinical programs that span regenerative medicine, multigenic diseases including immunology, oncology, and select monogenic diseases. We have conducted in vivo preclinical studies of our OECs in multiple disease models for various indications, including hepatocellular carcinoma, or HCC, non-small cell lung cancer, or NSCLC, and acute respiratory distress syndrome, or ARDS, and we expect to conduct in vivo preclinical studies for multiple additional programs. If successful, we plan to initiate IND-enabling studies for multiple programs beginning in 2021, and we expect to submit an IND for our OEC candidate for the treatment of HCC in the first half of 2022 and an additional IND for another OEC candidate in the second half of 2022 or in early 2023. We also expect to declare two to three OEC development candidates by mid-2022. --- We were incorporated under the laws of the State of Delaware in July 2016 under the name VL42, Inc. Our principal executive offices are located at 20 Acorn Park Drive, Cambridge, Massachusetts 02140 and our telephone number is 617-949-4360. Our website address is www.omegatherapeutics.com.
Omega Therapeutics, Inc. annual income statement and balance sheet, FY 2020 to FY 2023, as reported in SEC filings.
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|
| Revenue | — | $144K | $2.1M | $3.1M |
| Operating income | ($28.6M) | ($66.0M) | ($103M) | ($100M) |
| Net income | ($29.4M) | ($68.3M) | ($103M) | ($97.4M) |
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|
| Total assets | $28.1M | $233M | $146M | $204M |
| Total liabilities | $17.5M | $32.7M | $40.0M | $146M |
| Total equity | ($64.6M) | $201M | $106M | $58.0M |
| Cash & equivalents | $23.0M | $186M | $70.6M | $68.4M |