Odonate: Breast cancer drug trial results fail to impress Street - Jefferies

Odonate

24/08/2020 16:44

** Drug developer's shares  ODT.O  slump 32.2% to $22.74 
    ** Brokerage Jefferies says losses, despite positive update
from ODT on an oral chemotherapy drug trial, indicate low
interest and expectations from Wall Street
    ** Co says its drug candidate tesetaxel met the main goal of
reducing breast cancer progression and improving survival in
patients with advanced stage of disease  urn:newsml:reuters.com:*:nBw7vg3Lna    
    ** The study tested a combination of tesetaxel with a type
of chemotherapy called capecitabine in comparison with
capecitabine alone
    ** The share reaction ascribes a modest probability of
approval to tesetaxel and implies low sales - Jefferies
    ** Brokerage says data overall is positive and hit the
primary endpoint for a convenient, easy, oral chemotherapy for
breast cancer 
    ** Up to Friday's close, ODT up ~3.4% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
223 8780, outside the U.S. +91  80 6749 1692))