Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Odonate Therapeutics, Inc. (ODT) Investigation
NEW YORK, NY / ACCESSWIRE / August 26, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Odonate Therapeutics, Inc. ("Odonate" or the "Company") (NASDAQ:ODT).Investors who purchased Odonate securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/odt.
The investigation concerns whether Odonate and certain of its officers and/or directors have violated federal securities laws.
On or around December 6, 2017, Odonate conducted its initial public offering ("IPO"), selling 6,250,000 shares of its common stock priced at $24.00 per share. Then, on August 24, 2020, Odonate issued a press release announcing top-line results from the Company's CONTESSA trial, a Phase 3 study evaluating tesetaxel in combination with capecitabine in patients with metastatic breast cancer, which the Company had discussed in its supporting papers for the IPO. Although the study met its primary endpoint, tesetaxel plus capecitabine was associated with Grade 3 or higher neutropenia (low levels of white blood cells), which occurred in 71.2% of patients with the combination treatment versus 8.3% for capecitabine alone. Various other Grade 3 or higher treatment-emergent adverse events were also associated with tesetaxel plus capecitabine versus capecitabine alone. Further, discontinuation rates were 4.2% from neutropenia and 3.6% from neuropathy, and the overall discontinuation rate was 23.1% in the treatment group compared to 11.9% in the capecitabine alone group. On this news, Odonate's stock price fell $15.21 per share, or 45.35%, to close at $18.33 per share on August 24, 2020, representing a 23.63% decline from the IPO price.
If you are aware of any facts relating to this investigation, or purchased Odonate shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/odt. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz and Grossman, LLC
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