Odonate Therapeutics (ODT) IPO Opens Modestly Lower

Today's IPO for Odonate Therapeutics (NASDAQ: ODT) opened for trading at $23 after pricing 6,250,000 shares of common stock at a public offering price of $24.00 per share.

Goldman Sachs & Co. LLC and Jefferies are acting as joint book-running managers for the offering. Cowen is also acting as a bookrunner for the offering.

Odonate Therapeutics, Inc. is a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer. The Company’s initial focus is on the development of tesetaxel, a novel, orally administered chemotherapy agent belonging to the taxane class. Odonate’s goal for tesetaxel is to develop an effective chemotherapy choice for patients that provides quality-of-life advantages over current alternatives.

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