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ODT - Odonate Therapeutics returns capital to shareholders through share repurchase
Odonate Therapeutics Inc.
Odonate Therapeutics (NASDAQ:ODT) trades 5.2% down premarket after it commenced a share repurchase plan for up to 20M shares in order to return capital to stockholders. This action is in connection with the company’s earlier announced decision to discontinue the development of tesetaxel. As of Sep. 30, 2021, the company had total stockholders’ equity of $71.4M, or $1.85/share, based on 38.5M shares outstanding.