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Lawsuit filed for Investors in shares of Odonate Therapeutics, Inc. (NASDAQ: ODT)

09-23-2020 07:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Odonate Therapeutics, Inc. (NASDAQ: ODT) shares.

A lawsuit was filed on behalf of investors in Odonate Therapeutics, Inc. (NASDAQ: ODT) shares.

An investor, who purchased shares of Odonate Therapeutics, Inc. (NASDAQ: ODT), filed a lawsuit over alleged Securities Laws violations by Odonate Therapeutics, Inc.

Investors who purchased shares of Odonate Therapeutics, Inc. (NASDAQ: ODT) have certain options and for certain investors are short and strict deadlines running. Deadline: November 16, 2020. NASDAQ: ODT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Diego, CA based Odonate Therapeutics, Inc., a pharmaceutical company, develops therapeutics for the treatment of cancer. Odonate Therapeutics, Inc is focused on developing tesetaxel, an orally administered chemotherapy agent.
Tesetaxel is in Phase 3 clinical study for patients with locally advanced or metastatic breast cancer ("MBC"), called the CONTESSA trial, which is evaluating tesetaxel in combination with capecitabine in patients with MBC.

On December 6, 2017, Odonate Therapeutics, Inc. announced the pricing of its initial public offering (“IPO”) of 6,250,000 shares of common stock at a public offering price of $24.00 per share for aggregate gross proceeds of approximately $150 million.

On February 14, 2018, Odonate Therapeutics, Inc announced its financial results for the three and twelve months ended December 31, 2017.
Odonate Therapeutics, Inc. reported that its Net Loss increased from $3.08 million in 2017 to $32.74 million in 2018

Shares of Odonate Therapeutics, Inc. (NASDAQ: ODT) reached as high as $31.25 per share in March 5, 2018.

On August 24, 2020, during pre-market hours, Odonate Therapeutics, Inc announced top-line results from the CONTESSA trial. Although the study met its primary endpoint, tesetaxel plus capecitabine was associated with Grade 3 or higher neutropenia (low levels of white blood cells), which occurred in 71.2% of patients with the combination treatment versus 8.3% for capecitabine alone. Various other Grade 3 or higher treatment-emergent adverse events ("AEs") were also associated with tesetaxel plus capecitabine versus capecitabine alone. Further, discontinuation rates were 4.2% from neutropenia and 3.6% from neuropathy, and the overall discontinuation rate was 23.1% in the treatment group compared to 11.9% in the capecitabine alone group.

Shares of Odonate Therapeutics, Inc. (NASDAQ: ODT) declined from $41.75 per share on August 10, 2020 to as low as $13.82 per share on September 4, 2020.

The plaintiff claims that between December 7, 2017, and August 21, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that tesetaxel was not as safe or well-tolerated as the Company had led investors to believe, that consequently, tesetaxel's commercial viability as a cancer treatment was overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Odonate Therapeutics, Inc. (NASDAQ: ODT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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