Invested in
Odonate Therapeutics?
Contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Are you an investor in Odonate Therapeutics, Inc. (NASDAQ: ODTC)?
- Have you held ODTC shares since at least December 2017?
- Are you concerned about the performance of the OTCD stock price?
- Are you concerned about allegations that Odonate Therapeutics misled investors about the safety of its new cancer treatment drug?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation via email at arosca@rscounsel.law, leave a message through the contact form on this page, or call us at 888-998-0530.
Contact Us About Your
Investments
Free Case Evaluation
THE ODONATE THERAPEUTICS INVESTOR CENTER IS THE RESOURCE FOR INVESTORS WHO INVESTED IN ODONATE THERAPEUTICS SHARES IN OR BEFORE DECEMBER 2017.
- Free Case Evaluation
- No Fees if No Recovery
- Contact Us Today
We can also do a Zoom call to discuss your matter.
Posted July 22, 2022
Odonate Therapeutics Investigation
Securities attorneys Alan Rosca and Paul Scarlato have been investigating alleged securities violations, corporate misconduct, and questionable business practices and misrepresentations all involving Odonate Therapeutics and have identified potential areas of concern.
ODTC investors interested to evaluate potential options to pursue claims related to their Odonate Therapeutics holdings may contact investor rights attorneys Alan Rosca and Paul Scarlato. Attorneys Rosca and Scarlato have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of corporate misconduct and are currently evaluating potential claims on behalf of investors in Odonate Therapeutics. They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, pursuant to court review and approval.
Claims that are not timely pursued may expire or otherwise be lost, generally speaking. Odonate Therapeutics investors interested to explore potential claims should consider taking action promptly.
Concerned ODTC stock investors investors may contact attorneys Alan Rosca or Paul Scarlato to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Odonate Therapeutics Stock Recent Stock Price Performance
Odonate Therapeutics Inc. is a San Diego, California, based pharmaceutical company that was reportedly founded in or about 2013. According to filings with the Securities and Exchange Commission (“SEC”) Odonate Therapeutics develops drugs “that improve or extend the lives of patients with cancer.” Odonate’s main drug is reportedly called tesetaxel, an orally administered chemotherapy agent.
Odonate Therapeutics, Inc. reportedly went public on December 6, 2017 and its common stock traded on the NASDAQ Global Select Market under the symbol “ODT”. According to the Prospect filed with the SEC on December 8, 2017, the initial public offering price of ODT common stock was $24.00 per share.
On January 7, 2022 the company issued a press release announcing that on January 6, 2022 it received a written notice from The Nasdaq Stock Market LLC (“Nasdaq”) determining that Odonate Therapeutics is a “public shell” and that the continued listing of its securities is no longer warranted.
On February 7, 2022 Odonate filed a Form 15-12B terminating the registration of its securities.
Over the last four years, the price per OTD shares suffered dramatic fluctuations. Right after the listing, the price per OTD shares started declining, reaching a low of $15.15 on February 8, 2018. A month later the price bounced back and closed at $28.70 per OTD share on March 5, 2018. After seeing another decline in share price that lasted until end of April 2018, the price per OTD share closed at $27.39 on June 4, 2018. Over the next six months the price per share declined to reach a new low of $12.86 per share on December 17, 2018. The price per OTD share then began to soar until it surpassed $42 per share on July 29, 2019.
Over the next two months the price per share declined to close at $25.27 on September 30, 2019. The price per share then fluctuated between $35.91 and $28.59 until March 16, 2020 when it declined to close at $20.86. Over the next three months the price per OTD shares reached $41.51 on June 15, 2020, only to see a dramatic decline in September 2020 when the price per OTD shares closed at $13.36.
After the September 2020 low, the price per OTD share slowly recovered to close at $26.66 on February 1, 2021.
Since then, the price per Odonate shares has further declined , and on July 21, 2022, the price per ODTC share closed at $1.59. Odonate Therapeutics’ stock price history can be accessed here.
Odonate Therapeutics Investor Class Action Lawsuit
On September 16, 2020, class action lawsuit was filed against Odonate Therapeutics, Kevin C. Tang (Odonate’s Chairman and CEO), Michael Hearne (CEO), and John G. Lemkey (former CFO). The complaint alleges violations of securities laws as a result of materially false and misleading statements regarding the safety and tolerability of the tesetaxel drug, and the commercial viability of the drug.
According to the complaint, on August 24, 2020, Odonate Therapeutics issued a press release containing the results of the Phase 3 clinical study called CONTESSA. The press release reportedly revealed that tesetaxel plus capecitabin caused lower levels of white blood cells, among other Grade 3 or higher treatment-emergent adverse events, and that treatment group had a 23.1% discontinuation rate. Following the press release, the OTD stock price reportedly fell over 45% on August 24, 2020.
As a result, the plaintiff sought damages allegedly suffered by plaintiff and members of the proposed class, as well as attorneys’ fees, pre- and post-judgment interest, among others. According to the court documents, on October 26, 2021, the parties reached a settlement in principle and a Stipulation of Settlement was reportedly signed a month later.
The preliminary approval of the Settlement was reportedly granted on January 11, 2022, and the final approval of the Odonate Class Action Settlement was reportedly granted on June 6, 2022.
Potential Compensation Claims
Odonate Therapeutics Shareholders May Have Potential Claims
Investor rights attorneys Alan Rosca and Paul Scarlato at Rosca Scarlato LLC are investigating potential options and are evaluating potential claims on behalf of Odonate Therapeutics shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a current Odonate Therapeutics investor concerned about your investment, you may contact attorneys Alan Rosca or Paul Scarlato to learn more about your rights and for an evaluation of your case, or to provide useful information. All consultations are free. The Rosca Scarlato LLC attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Odonate Therapeutics investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
These general considerations are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. Odonate Therapeutics investor center is not affiliated with Odonate Therapeutics Inc.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Recent Investigations
- Posted on
- Posted on
DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.