Odonate Therapeutics, Inc. (NASDAQ: ODT), a pharmaceutical company dedicated to the development of best-in-class therapeutics that improve and extend the lives of patients with cancer, today announced that it has commenced an underwritten public offering of shares of its common stock. In addition, Odonate has granted the underwriters a 30-day option to purchase additional shares of its common stock. All of the shares of common stock to be sold in the underwritten public offering are being offered by Odonate.

Odonate intends to use the proceeds from the proposed underwritten public offering of its shares of common stock for development, regulatory and commercial preparation activities relating to tesetaxel, as well as for working capital and general corporate purposes.

Jefferies is acting as book-running manager, and LifeSci Capital is acting as lead manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on October 18, 2019.