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. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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