Why Odonate Therapeutics Stock Is Crashing Today

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Shares of Odonate Therapeutics (NASDAQ: ODT) were crashing 78% as of 11:38 a.m. EDT on Monday. The huge drop came after Odonate announced that it’s discontinuing the development of tesetaxel and will “wind down the operations of the Company.”

Today’s news underscores the risks involved with investing in clinical-stage biotech stocks. The risk is especially great for companies with only one pipeline candidate.

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