$OMGA
Omega Therapeutics, Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024127008 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $2.612M
YoY Change 214.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.225M
YoY Change -14.26%
% of Gross Profit
Research & Development $12.81M
YoY Change -22.26%
% of Gross Profit
Depreciation & Amortization $400.0K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $19.03M
YoY Change -19.81%
Operating Profit -$16.42M
YoY Change -28.31%
Interest Expense $14.00K
YoY Change -97.94%
% of Operating Profit
Other Income/Expense, Net -$24.00K
YoY Change -103.66%
Pretax Income -$16.44M
YoY Change -26.09%
Income Tax
% Of Pretax Income
Net Earnings -$16.44M
YoY Change -26.09%
Net Earnings / Revenue -629.56%
Basic Earnings Per Share -$0.30
Diluted Earnings Per Share -$0.30
COMMON SHARES
Basic Shares Outstanding 55.37M 55.15M
Diluted Shares Outstanding 55.16M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.40M
YoY Change -65.96%
Cash & Equivalents $30.40M
Short-Term Investments $0.00
Other Short-Term Assets $7.613M
YoY Change -32.03%
Inventory
Prepaid Expenses
Receivables $486.0K
Other Receivables $477.0K
Total Short-Term Assets $38.95M
YoY Change -61.77%
LONG-TERM ASSETS
Property, Plant & Equipment $4.498M
YoY Change -16.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.00K
YoY Change -73.95%
Total Long-Term Assets $113.8M
YoY Change -1.84%
TOTAL ASSETS
Total Short-Term Assets $38.95M
Total Long-Term Assets $113.8M
Total Assets $152.7M
YoY Change -29.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.434M
YoY Change -40.32%
Accrued Expenses $4.650M
YoY Change -38.15%
Deferred Revenue
YoY Change
Short-Term Debt $4.000M
YoY Change 2.56%
Long-Term Debt Due $4.000M
YoY Change 0.0%
Total Short-Term Liabilities $24.17M
YoY Change -9.86%
LONG-TERM LIABILITIES
Long-Term Debt $11.60M
YoY Change -27.04%
Other Long-Term Liabilities $4.797M
YoY Change 1310.88%
Total Long-Term Liabilities $16.40M
YoY Change 0.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.17M
Total Long-Term Liabilities $16.40M
Total Liabilities $141.2M
YoY Change -0.41%
SHAREHOLDERS EQUITY
Retained Earnings -$387.5M
YoY Change 23.25%
Common Stock $55.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.54M
YoY Change
Total Liabilities & Shareholders Equity $152.7M
YoY Change -29.88%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$16.44M
YoY Change -26.09%
Depreciation, Depletion And Amortization $400.0K
YoY Change 0.0%
Cash From Operating Activities -$14.01M
YoY Change -39.17%
INVESTING ACTIVITIES
Capital Expenditures $16.00K
YoY Change -97.81%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$16.00K
YoY Change -97.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.444M
YoY Change 14340.0%
NET CHANGE
Cash From Operating Activities -14.01M
Cash From Investing Activities -16.00K
Cash From Financing Activities -1.444M
Net Change In Cash -15.47M
YoY Change -34.9%
FREE CASH FLOW
Cash From Operating Activities -$14.01M
Capital Expenditures $16.00K
Free Cash Flow -$14.03M
YoY Change -40.97%

Facts In Submission

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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
19768000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
5000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
66901000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4053000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
45375000
omga Proceeds From Equity Offering
ProceedsFromEquityOffering
40000000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
273000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
15000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3333000
omga Repayment Of Lease Financing
RepaymentOfLeaseFinancing
318000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
24000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
486000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3627000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40198000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-38066000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11153000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68784000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
70956000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
30718000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82109000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30377000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81768000
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
341000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
341000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
30718000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82109000
us-gaap Interest Paid Net
InterestPaidNet
1208000
us-gaap Interest Paid Net
InterestPaidNet
1279000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
318000
omga Recurring Losses
RecurringLosses
52900000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38500000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30400000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Reclassification</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company reclassified the related party expenses in the prior year to research and development and general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss to conform to the current year's presentation.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The preparation of the condensed consolidated unaudited financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses, and the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances.</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Significant estimates and assumptions reflected in these condensed consolidated unaudited financial statements include, but are not limited to, the selection of useful lives of property and equipment, the incremental borrowing rate used in the calculation of lease liabilities, research and development accruals, and certain judgments regarding revenue recognition and stock-based compensation. Actual results could differ from these estimates. Changes in estimates are reflected in reported results in the period in which they become known.</span></p>
CY2024Q3 us-gaap Marketable Securities
MarketableSecurities
0
CY2024Q3 omga Prepaid Clinical Expenses
PrepaidClinicalExpenses
4557000
CY2023Q4 omga Prepaid Clinical Expenses
PrepaidClinicalExpenses
5168000
CY2024Q3 omga Prepaid Research And Development
PrepaidResearchAndDevelopment
1168000
CY2023Q4 omga Prepaid Research And Development
PrepaidResearchAndDevelopment
1609000
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
922000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
716000
CY2024Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
477000
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
855000
CY2024Q3 omga Prepaid Software
PrepaidSoftware
354000
CY2023Q4 omga Prepaid Software
PrepaidSoftware
303000
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
341000
CY2023Q4 omga Prepaid Facilities
PrepaidFacilities
1242000
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
271000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
431000
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8090000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10324000
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11765000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11373000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7267000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6062000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4498000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5311000
CY2024Q3 us-gaap Depreciation
Depreciation
400000
CY2023Q3 us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
1300000
us-gaap Depreciation
Depreciation
1100000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2664000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4482000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1130000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
716000
CY2024Q3 omga Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
483000
CY2023Q4 omga Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
547000
CY2024Q3 omga Research Costs
ResearchCosts
217000
CY2023Q4 omga Research Costs
ResearchCosts
1395000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
147000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
156000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
627000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4650000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7914000
CY2024Q1 us-gaap Severance Costs1
SeveranceCosts1
800000
CY2024Q2 us-gaap Severance Costs1
SeveranceCosts1
700000
CY2024Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
4000000
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
11600000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15667000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19000000
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
80000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
115000
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
15587000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
18885000
CY2024Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
373000
CY2023Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
469000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1185000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1336000
CY2024Q3 omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
11000
CY2023Q3 omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
13000
omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
35000
omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
33000
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
384000
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
482000
us-gaap Interest Expense Debt
InterestExpenseDebt
1220000
us-gaap Interest Expense Debt
InterestExpenseDebt
1369000
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
0
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
147000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1000000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4000000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4000000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6667000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15667000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
15388000
CY2021Q4 omga Number Of Phases
NumberOfPhases
2
CY2023Q2 omga Rent Per Square Foot
RentPerSquareFoot
1
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
109200000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
112500000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11900000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
100600000
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3871000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3866000
us-gaap Operating Lease Cost
OperatingLeaseCost
11496000
us-gaap Operating Lease Cost
OperatingLeaseCost
7854000
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1088000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
945000
us-gaap Variable Lease Cost
VariableLeaseCost
3225000
us-gaap Variable Lease Cost
VariableLeaseCost
1844000
CY2024Q3 us-gaap Lease Cost
LeaseCost
4959000
CY2023Q3 us-gaap Lease Cost
LeaseCost
4811000
us-gaap Lease Cost
LeaseCost
14721000
us-gaap Lease Cost
LeaseCost
9698000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y10M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y6M
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.089
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.089
omga Schedule Of Supplemental Cash Flow Information Relating To Leases
ScheduleOfSupplementalCashFlowInformationRelatingToLeases
<p style="text-indent:5.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Supplemental cash flow information relating to the Company's leases for the </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">nine months ended September 30, 2024 and 2023 were as follows (in thousands):</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:67.16%;box-sizing:content-box;"></td> <td style="width:1.5%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.5%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="6" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">Nine Months Ended September 30,</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">2024</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">2023</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Cash paid for amounts included in the measurement of lease liabilities</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">9,144</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,473</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Operating lease assets obtained in exchange for lease liabilities</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">—</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">110,424</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> </table>
us-gaap Operating Lease Payments
OperatingLeasePayments
9144000
us-gaap Operating Lease Payments
OperatingLeasePayments
4473000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
110424000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3070000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12492000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12819000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13155000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13501000
CY2024Q3 omga Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
144664000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
199701000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
87155000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
112546000
CY2024Q3 omga License Maintenances Fees
LicenseMaintenancesFees
100000
CY2023Q3 omga License Maintenances Fees
LicenseMaintenancesFees
100000
omga License Maintenances Fees
LicenseMaintenancesFees
200000
omga License Maintenances Fees
LicenseMaintenancesFees
300000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1723000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2280000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6367000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6680000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.0416
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M20D
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-16444000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-22248000
us-gaap Net Income Loss
NetIncomeLoss
-52878000
us-gaap Net Income Loss
NetIncomeLoss
-77214000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55155583
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55155583
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55140058
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55140058
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55153699
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55153699
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53629468
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53629468
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.3
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.3
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.4
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.4
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.44
CY2023Q3 omga Number Of Shared Space Arrangements
NumberOfSharedSpaceArrangements
3
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
share one-third of Sail Bio's 69,867 square feet of leased space at 20 Acorn Park Drive, Cambridge, Massachusetts.
omga Net Book Value Of Assets
NetBookValueOfAssets
400000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
200000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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