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Case Status:    SETTLED
On or around 06/06/2022 (Date of order of final judgment)

Filing Date: September 16, 2020

According to the Complaint, Odonate Therapeutics, Inc. is a pharmaceutical company that develops therapeutics for the treatment of cancer. The Company is focused on developing tesetaxel, an orally administered chemotherapy agent.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) tesetaxel was not as safe or well-tolerated as the Company had led investors to believe; (ii) consequently, tesetaxel's commercial viability as a cancer treatment was overstated; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

On December 14, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on February 16, 2021. On April 13, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on May 13. On August 4, the Court issued an Order denying Defendants' Motion to Dismiss.

On October 26, 2021, the parties informed the Court that they had reached an agreement in principle to settle the case. The parties entered into a Stipulation of Settlement on November 18. On January 11, 2022, the Court granted preliminary approval of the Settlement. The Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, on June 6.

The Court issued an Order granting final disbursement of the net Settlement fund on October 11, 2022.

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