Odonate Therapeutics, Inc. (NASDAQ: ODT) today announced the pricing of an underwritten public offering of 5,614,036 shares of its common stock, offered at a price of $14.25 per share. In addition, Odonate has granted the underwriters a 30-day option to purchase up to an additional 842,105 shares of its common stock on the same terms and conditions. All shares of common stock sold in the offering are being sold by Odonate. The offering is expected to close on or about September 1, 2020, subject to customary closing conditions.

The gross proceeds from the proposed underwritten public offering are expected to be $80 million before deducting customary underwriting discounts and offering expenses. 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.

The securities described above are being offered pursuant to a shelf registration statement (File No. 333‑233990), which became effective on October 18, 2019.