Company: Odonate Therapeutics, LLC
Symbol: ODT
Description: They are a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer.
Shares: 5.88 million
Price Range: $24.00-$27.00
Trade Date: 12/7
Underwriter(s): Goldman Sachs, Jefferies
Co-Manager: Cowen
Terms Added: 11-27-17
Business: Their initial focus is on the development of tesetaxel, a novel chemotherapy agent that belongs to a class of drugs known as taxanes, which are widely used in the treatment of cancer. Tesetaxel has several potential therapeutic advantages over currently available taxanes, including: oral administration with a low pill burden and a patient-friendly dosing regimen; a formulation that does not contain solubilizing agents that are known to cause hypersensitivity (allergic) reactions; and improved activity against chemotherapy-resistant tumors. Tesetaxel has been generally well tolerated in clinical studies and has demonstrated robust single-agent antitumor activity in two Phase 2 studies in patients with locally advanced or metastatic breast cancer (“MBC”). They expect to begin enrolling patients in their multinational, multicenter, randomized, Phase 3 study in MBC, known as CONTESSA, in the fourth quarter of 2017 and report top-line results from this study in 2020. Their goal for tesetaxel is to develop an effective chemotherapy choice for patients that provides quality-of-life advantages over current alternatives.
Insider Buying: Certain of their existing shareholders, including certain of their directors and affiliates of their directors, and their affiliated entities have indicated an interest in purchasing an aggregate of up to approximately $25.0 million of their common shares in this offering at the initial public offering price per share.
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