Odyssey Therapeutics raised about $279 million in its initial public offering, according to company disclosures ahead of Nasdaq trading under the ticker “ODTX.” The autoimmune-focused developer priced 15.5 million shares at $18 each, adding another $25 million through a concurrent private stock sale. Odyssey’s IPO had been more than a year in the making, and the company previously delayed going public based on leadership’s assessment that timing was not optimal. It later pursued a $213 million Series D round before returning to the IPO path. The offering makes Odyssey the 11th biotech to go public so far in 2026. Investors will watch after-market performance for signal on risk appetite toward immunology developers, as recent IPOs have shown improved traction for larger, data-backed offerings.