Odonate Therapeutics Announces Planned Return of Capital to Stockholders through Share Repurchase Plan
November 17 2021 - 6:45AM
Business Wire
Odonate Therapeutics, Inc. (NASDAQ: ODT) today announced that it
will commence a share repurchase plan for up to 20 million shares
in order to return capital to stockholders. This action is in
connection with the Company’s previously announced decision to
discontinue the development of tesetaxel. Repurchases may be made
from time to time at the Company’s discretion. The plan has no time
limit and can be discontinued at any time. There can be no
assurance as to the timing or number of shares of any
repurchases.
As of September 30, 2021, as reported in its recently filed Form
10-Q, the Company had total stockholders’ equity of $71.4 million,
or $1.85 per share, based on 38.5 million shares outstanding.
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version on businesswire.com: https://www.businesswire.com/news/home/20211117005445/en/
Odonate Therapeutics, Inc. Michael Hearne Chief Financial
Officer (332) 208-7611 mhearne@odonate.com
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