Why did ODT stock go down?
Why Odonate Therapeutics Stock Is Crashing Today The huge drop came after Odonate announced that it's discontinuing the development of tesetaxel and will "wind down the operations of the Company." Today's news underscores the risks involved with investing in clinical-stage biotech stocks.
Is ODT a buy?
In general, the lower the ratio is the better....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy24.93%2Buy18.44%3Hold9.99%4Sell5.61%2 more rows
What will happen to ODT stock?
Therefore, Odonate expects the trading of its common stock on The Nasdaq Stock Market to be suspended at the opening of business on January 18, 2022, and that Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission (the “SEC”), which will remove Odonate's securities from listing and registration ...Jan 7, 2022
Will ODT stock go up?
Given the current short-term trend, the stock is expected to rise 11.18% during the next 3 months and, with a 90% probability hold a price between $1.29 and $1.78 at the end of this 3-month period.
What does Odonate therapeutics do?
Odonate Therapeutics Inc (Odonate) is a pharmaceutical company. The company develops medicines for the treatment of cancer. It offers product tesetaxel which is orally administered chemotherapy agent that belongs to a class of drugs known as taxanes, which are widely used in the treatment of cancer.
What is ODT stock?
(ODT) Stock Price, News & Info | The Motley Fool....Key Data Points.Market Cap:$48MCurrent Price:$1.25Day's Range:$1.25 - $1.2952wk Range:$0.82 - $4.13Volume:8,2081 more row
Is Odonate going out of business?
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 ...
What is an ODT file in Word?
ODT files are similar to file formats created using Word, such as DOCX and DOC. They contain formatted text, images, links, and page information used for document creation and printing. ODT files are part of the Open Document Format (ODF) standard, also known as OpenDocument.Nov 8, 2021
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Odonate Therapeutics, Inc. (ODT) Company Bio
Odonate Therapeutics, LLC develops therapeutics to enhance the lives of patients with cancer in the United States. It is developing Tesetaxel, a novel chemotherapy agent that has completed Phase II clinical trials for patients with advanced or metastatic breast cancer. The company was founded in 2013 and is based in San Diego, California.
Odonate Announces Expected Delisting of Its Stock
NEW YORK, January 07, 2022--Odonate Therapeutics, Inc.
Odonate Therapeutics, Inc. (NASDAQ:ODT) Sees Large Increase in Short Interest
Odonate Therapeutics, Inc. (NASDAQ:ODT) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 513,400 shares, a growth of 85.0% from the November 15th total of 277,500 shares. Based on an average trading volume of 604,900 shares, the short-interest ratio is currently 0.8 days. []
Odonate Therapeutics, Inc. (NASDAQ:ODT) Shares Acquired by Assenagon Asset Management S.A
Assenagon Asset Management S.A. raised its holdings in shares of Odonate Therapeutics, Inc. (NASDAQ:ODT) by 543.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,296 shares of the companys stock after acquiring an additional 292,452 shares during the quarter.
A couple of factors appear to be at work after the company announced the pricing of a secondary stock offering
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
What happened
Shares of Odonate Therapeutics ( NASDAQ:ODT) were soaring 23.1% as of 11:23 a.m. EDT on Friday. The drugmaker announced after the market closed on Thursday the pricing of a public offering of more than 5.6 million shares at $14.25 per share.
So what
Normally secondary stock offerings cause shares to fall, so why did Odonate Therapeutics stock rise? There could be a couple of factors at work.
Now what
Odonate expects its public stock offering to close early next week and raise gross proceeds of around $80 million. The main thing to watch with the company is its progress toward obtaining FDA approval for tesetaxel. Odonate plans to file for FDA approval in mid-2021.
