Odonate Therapeutics falls on proposed stock offering

Odonate

26/08/2020 22:33

** Cancer drug developer's shares  ODT.O  fall 3.7% to
$16.79 after market
    ** Company announces proposed public offering of common
stock, size and terms of offering not disclosed  urn:newsml:reuters.com:*:nBw47yt1Ca
    ** Intends to use proceeds for development, regulatory and
commercial preparation activities relating to its breast cancer
drug candidate, tesetaxel
    ** On Monday, ODT said tesetaxel met main goal of reducing
breast cancer progression and improving survival in patients
with advanced stage of disease  urn:newsml:reuters.com:*:nL4N2FQ3BP
    ** Jefferies is sole book-runner for offering
    ** ODT down 46% this year

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325))