ODT - Odonate Therapeutics: Likely Tesetaxel Approval Means Company Is Undervalued

• Odonate is a small biotech attempting to win approval for Tesetaxel, a chemotherapy treatment indicated for treatment of HER2 negative metastatic breast cancer.
• The company's share price nose dived from $45 in June to $13 in September last year after management released results from a registrational Phase 3 trial of Tesetaxel.
• Although the drug met its primary endpoint of progression free survival, cases of Neutropenia were observed in 77% of patients.
• Odonate will press ahead with a NDA submission in mid 2021, which I believe is likely to be approved since Tesetaxel is an oral treatment with an infrequent dosing regime.
• This ought to provide a significant price catalyst and open the door for Tesetaxel to win approval as a monotherapy, which ought to reduce adverse safety events. Analysts' price target is $50, and I would concur.

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