SEC Form 8-K filed by Odonate Therapeutics, Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 2.05 Costs Associated with Exit or Disposal Activities
On March 19, 2021, Odonate Therapeutics, Inc. (“Odonate” or the “Company”) committed to a plan of termination involving the termination of certain employees previously supporting the development of tesetaxel (the “Restructuring”). As previously announced on March 22, 2021, following feedback from the U.S. Food and Drug Administration (“FDA”) in a pre-New Drug Application meeting, Odonate concluded that its clinical data package for tesetaxel is unlikely to support FDA approval. Therefore, Odonate is discontinuing the development of tesetaxel and will wind down the operations of the Company. Odonate estimates that the Restructuring will be substantially complete by June 30, 2021 and that costs incurred in connection with the Restructuring will be approximately $14 million.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
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Description |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Odonate Therapeutics, Inc. |
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Date: March 25, 2021 |
By: |
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/s/ Michael Hearne |
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Michael Hearne |
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Chief Financial Officer |