Odonate Therapeutics Inc’s (ODT) Quiet Period To Expire on January 16th

Odonate Therapeutics’ (NASDAQ:ODT) quiet period is set to expire on Tuesday, January 16th. Odonate Therapeutics had issued 6,250,000 shares in its IPO on December 7th. The total size of the offering was $150,000,000 based on an initial share price of $24.00. During Odonate Therapeutics’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of research analysts have recently commented on the company. Goldman Sachs Group assumed coverage on Odonate Therapeutics in a report on Tuesday, January 2nd. They set a “neutral” rating and a $27.00 price objective on the stock. Cowen assumed coverage on Odonate Therapeutics in a report on Tuesday, January 2nd. They set an “outperform” rating on the stock. Finally, Jefferies Group assumed coverage on Odonate Therapeutics in a report on Tuesday, January 2nd. They set a “buy” rating and a $40.00 price objective on the stock.

Odonate Therapeutics (NASDAQ:ODT) opened at $23.79 on Friday. The company has a market capitalization of $639.72 and a PE ratio of -33.51. Odonate Therapeutics has a fifty-two week low of $22.31 and a fifty-two week high of $25.36.

In other Odonate Therapeutics news, CEO Kevin C. Tang bought 1,291,666 shares of the stock in a transaction on Thursday, December 7th. The shares were purchased at an average price of $24.00 per share, with a total value of $30,999,984.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Boxer Capital, Llc bought 416,666 shares of the stock in a transaction on Wednesday, December 6th. The stock was acquired at an average cost of $24.00 per share, for a total transaction of $9,999,984.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,709,332 shares of company stock worth $41,023,268.

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About Odonate Therapeutics

Odonate Therapeutics, Inc, formerly Odonate Therapeutics, LLC, is a pharmaceutical company. The Company is engaged in the development of therapeutics to improve and extend the lives of patients with cancer. It is focused on the development of tesetaxel, a novel chemotherapy agent. It has completed Phase-II studies in patients with metastatic breast cancer (MBC).

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