Market Overview

Shareholder Alert: Robbins LLP Announces that Odonate Therapeutics, Inc. (ODT) is Being Sued for Misleading Shareholders

Share:

Shareholder rights law firm Robbins LLP announces that a purchaser of securities of Odonate Therapeutics, Inc. (NASDAQ:ODT) has filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between December 7, 2017 and August 21, 2020. Based in San Diego, California, Odonate is a pharmaceutical company that develops therapeutics for the treatment of cancer. The Company is developing tesetaxel, an oral chemotherapy.

If you suffered a loss due to Odonate Therapeutics, Inc.'s misconduct, click here.

Odonate Therapeutics, Inc. (ODT) Accused of Misrepresenting Potential of New Cancer Drug

According to the complaint, during the relevant period, Odonate Therapeutics, Inc. touted the extent of its clinical trials of tesetaxel and the efficacy of the drug. Unbeknownst to shareholders, Odonate Therapeutics failed to disclose the serious safety and tolerance issues surrounding tesetaxel, which has compromised the drug's potential commercial viability as a cancer treatment. Before market hours on August 24, 2020, Odonate released its CONTESSA trial results, shocking investors with the announcement that tesetaxel substantially increased neutropenia (low white blood cell counts), neuropathy, and other adverse events. The trial results demonstrated a discontinuation rate of just 11.9% in the control group versus 23.1% in the tesetaxel treatment group. On this news, Odonate stock price fell 43.35% to close at $18.33 per share on August 24, 2020.

If you purchased Odonate Therapeutics, Inc. (ODT) securities between December 7, 2017 and August 21, 2020, you have until November 16, 2020, to ask the court to appoint you lead plaintiff for the class.

Contact us to learn more:

Lauren Levi

(800) 350-6003

llevi@robbinsllp.com

Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against American Electric settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com