Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Odonate Therapeutics, Inc. (NasdaqGS: ODT).
On August 24, 2020, the Company disclosed disappointing results from the trial of its sole drug candidate, tesetaxel. On March 22, 2021, the Company disclosed that it was ending development of tesetaxel following feedback from the U.S. Food and Drug Administration that the drug was unlikely to receive approval on the basis of its clinical data package, and that it would be winding down operations.
The Company has been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws. Recently, the court in that case denied the Company’s motion to dismiss, allowing the case to move forward
KSF’s investigation is focusing on whether Odonate’s officers and/or directors breached their fiduciary duties to Odonate’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Odonate shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.