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Odyssey Therapeutics Abandons Public Listing Amid US IPO Landscape Uncertainty
ByAinvest
Tuesday, Jun 10, 2025 1:04 pm ET1min read
Odyssey Therapeutics has withdrawn its registration statement for an initial public offering (IPO) due to unfavorable market conditions. The biotech company was eyeing an IPO to fund its pipeline, but the withdrawal is the first sign that the IPO landscape may be suffering from economic uncertainty caused by US President Donald Trump's policies.
Odyssey Therapeutics has withdrawn its registration statement for an initial public offering (IPO), citing unfavorable market conditions. The biotech company, which specializes in autoimmune and inflammatory diseases, was planning to list on the Nasdaq to fund its pipeline, including the Phase II trials for its RIPK2 inhibitor OD-07656 for ulcerative colitis treatment [1].The withdrawal is the latest indication that the IPO landscape may be suffering from economic uncertainty, particularly due to policies implemented by US President Donald Trump. In April, GlobalData business fundamentals analyst Alison Labya predicted that such policies could impact investor confidence and delay IPOs [1].
Biotech IPOs saw a strong recovery in 2024, with a total raise of $8.52 billion, up 68.4% from $5.06 billion raised in 2023. However, the uptick in 2025 has been tempered by market volatility and uncertainty, with Odyssey being the latest company to withdraw its IPO plans [1].
This move comes just months after Sionna Therapeutics successfully closed a nearly $220 million IPO, indicating that market conditions can vary significantly between companies. Telix Pharmaceuticals also withdrew its US public listing at the last minute in June 2024, citing unfavorable market conditions [1].
The IPO withdrawal by Odyssey Therapeutics underscores the importance of market timing and investor sentiment in the biotech sector. As the company stated in its notice to the SEC, it is "not in the best interests of the company to conduct the proposed offering at this time" [1].
References:
[1] https://www.pharmaceutical-technology.com/news/odyssey-bails-on-public-listing-as-us-ipo-landscape-stutters/
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