CryptoFundManager

ODT Odonate Therapeutics all time low! Buy oportunity?

Long
NASDAQ:ODT   Odonate Therapeutics, Inc
Following feedback from the U.S. Food and Drug Administration (FDA) in a pre-New Drug Application meeting, Odonate Therapeutics , Inc. (NASDAQ: ODT ) has concluded that the clinical data package for tesetaxel is unlikely to support FDA approval. Therefore, Odonate is discontinuing the development of tesetaxel and will wind down the operations of the Company.

As of December 31, 2020, Odonate had $157.3 million in cash, compared to $180.5 million as of December 31, 2019. (businesswire.com)

ODT Odonate Therapeutics MARKET CAP 147.784M
That`s less than its cash balance!

The indicators showed a sell signal just before the selloff.
I know it`s a speculative buy, buy it worth the risk?
What is your opinion?

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Trade closed: stop reached: Odonate said it plans to work with patients in its clinical study to transition to other therapies. After that, the company will shut down at some point in the near future. (fool.com)

Comments

So thats it? They are shutting down?
+1 Reply
CryptoFundManager Save_America_From_Politicians
@Save_America_From_Politicians, Read the article, please. Seems yes!
+1 Reply