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Why Odonate Therapeutics Is Trading Lower Today

Odonate Therapeutics (NASDAQ: ODT) shares were trading lower on Monday after the company announced the results from CONTESSA, a Phase 3 study of Tesetaxel, achieved the primary endpoint.

Benzinga · 08/24/2020 19:46

Odonate Therapeutics (NASDAQ:ODT) shares were trading lower on Monday after the company announced the results from CONTESSA, a Phase 3 study of Tesetaxel, achieved the primary endpoint.

Odonate Therapeutics is a U.S.-based pharmaceutical company that is engaged in the development of therapeutics which improves and extends the lives of patients with cancer. The company mainly focuses on the development of tesetaxel, a novel chemotherapy agent that belongs to a class of drugs, taxanes, which are widely used in the treatment of cancer including breast cancer.

The key product of the company is Tesetaxel which is chemotherapy for oral administration with a low pill burden for various types of cancers.

Odonate Therapeutics shares were trading down 44.42% at $18.64 on Monday during the time of publication. The stock has a 52-week high of $46.50 and a 52-week low of $18.07.