NEW YORK--(BUSINESS WIRE)--Odonate Therapeutics, Inc. (NASDAQ: ODT) today announced that it will commence a share repurchase plan for up to 20 million shares in order to return capital to stockholders. This action is in connection with the Company’s previously announced decision to discontinue the development of tesetaxel. Repurchases may be made from time to time at the Company’s discretion. The plan has no time limit and can be discontinued at any time. There can be no assurance as to the timing or number of shares of any repurchases.
Odonate Therapeutics Announces Financial Results for the Three and Nine Months Ended September 30, 2021
Odonate Therapeutics, Inc. (NASDAQ: ODT) today announced financial results for the three and six months ended June 30, 2021.
Odonate Therapeutics is ending development of its oral chemotherapy drug and closing up shop after the FDA deemed the drug’s clinical data “unlikely to support FDA approval.” As it winds down its operations, the company will work with clinical sites to switch patients participating in its clinical trials to alternative treatments, the company said in a statement Monday.
NEW YORK--(BUSINESS WIRE)--Following feedback from the U.S. Food and Drug Administration (FDA) in a pre-New Drug Application meeting, Odonate Therapeutics, Inc. (NASDAQ: ODT) has concluded that the clinical data package for tesetaxel is unlikely to support FDA approval. Therefore, Odonate is discontinuing the development of tesetaxel and will wind down the operations of the Company. The Company will work with clinical sites to transition patients in ongoing tesetaxel clinical studies to appropriate alternative therapies.
Last summer, San Diego-based Odonate $ODT CEO Kevin Tang enthusiastically sought to bolster investors’ enthusiasm for the company with what the biotech called “a potential important clinical advance for patients with metastatic breast cancer.” Their late-stage study had hit the primary endpoint, the company noted, and they were laying the groundwork for an NDA in mid-2021.
SAN DIEGO--(BUSINESS WIRE)--Odonate Therapeutics, Inc. (NASDAQ: ODT), a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer, today announced the initiation of Cohort 3 of CONTESSA TRIO, which will evaluate tesetaxel monotherapy in approximately 60 non-elderly patients with human epidermal growth factor receptor 2 (HER2)-negative metastatic breast cancer (MBC). Cohort 3 of CONTESSA TRIO will complement Cohort 2 of CONTESSA TRIO, which is evaluating tesetaxel monotherapy in approximately 60 elderly patients with HER2-negative MBC.
SAN DIEGO--(BUSINESS WIRE)--Odonate Therapeutics, Inc. (NASDAQ: ODT), a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer, today announced the initiation of Cohort 3 of CONTESSA TRIO, which will evaluate tesetaxel monotherapy in approximately 60 non-elderly patients with human epidermal growth factor receptor 2 (HER2)-negative metastatic breast cancer (MBC). Cohort 3 of CONTESSA TRIO will complement Cohort 2 of CONTESSA TRIO, which is evaluating tesetaxel monotherapy in approximately 60 elderly patients with HER2-negative MBC.
Odonate Therapeutics, Inc. (NASDAQ: ODT), a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer, today announced that it has commenced an underwritten public offering of shares of its common stock. In addition, Odonate has granted the underwriters a 30-day option to purchase additional shares of its common stock. All of the shares of common stock to be sold in the underwritten public offering are being offered by Odonate.