By Christiana Sciaudone
Investing.com -- Odonate Therapeutics (NASDAQ:ODT) sank more than 31% after announcing results from its Contessa Phase 3 study of tesetaxel in breast cancer patients.
The safety profile of tesetaxel is what's pulling shares lower, according to Seeking Alpha.
According to Bloomberg, the shares fell because the tesetaxel combination study in patients with metastatic breast cancer showed a more muted benefit compared with capecitabine.
Shares are down by half since mid-June.
Contessa met the primary endpoint of improved progression‑free survival (PFS) as assessed by the Independent Radiologic Review Committee (IRC). Median PFS was 9.8 months for tesetaxel plus a reduced dose of capecitabine versus 6.9 months for the approved dose of capecitabine alone, an improvement of 2.9 months. The risk of disease progression or death was reduced by 28.4% for tesetaxel plus a reduced dose of capecitabine versus the approved dose of capecitabine alone.
Tesetaxel is an investigational, orally administered chemotherapy agent that belongs to a class of drugs known as taxanes, which are widely used in the treatment of cancer. Tesetaxel currently is the subject of three studies in breast cancer, including Contessa.
Contessa is a multinational, multicenter, randomized, Phase 3 study of tesetaxel in patients with metastatic breast cancer.