Those NDA plans Odonate had for mid-'21? They're be­ing scrapped — along with the en­tire biotech — in a sud­den im­plo­sion

Last sum­mer, San Diego-based Odonate $ODT CEO Kevin Tang en­thu­si­as­ti­cal­ly sought to bol­ster in­vestors’ en­thu­si­asm for the com­pa­ny with what the biotech called “a po­ten­tial im­por­tant clin­i­cal ad­vance for pa­tients with metasta­t­ic breast can­cer.” Their late-stage study had hit the pri­ma­ry end­point, the com­pa­ny not­ed, and they were lay­ing the ground­work for an NDA in mid-2021.

That mes­sage didn’t work so well, though, as in­vestors trimmed the com­pa­ny’s mar­ket cap con­sid­er­ably from its ear­li­er, high-fly­ing ways. But it was still in the game with a mar­ket cap north of $730 mil­lion — un­til this morn­ing. The stock col­lapsed, evis­cer­at­ing 75% of its val­ue ahead of the bell in a slide down to cash.

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