The healthcare company Odonate Therapeutics stock NASDAQ: ODT gained 11.40% that caused $38.01 on Wednesday. However, ODT’s daily volume could not surpass the average daily volume of 69,854 shares.
Recently, Odonate Therapeutics announced Q1 2020 financial results although it does not have revenue yet.
Financial report for the first quarter ended in March 2020
Q1 2020 operating expense rose by $2.1 million making tax rates zero. Total assets decreased quarterly from $188,827,000 to $161,984,000. The major cause of it is shrunk total equity which fell by almost $27 million.
The actual $135,244,000 the value of Odonate Therapeutics is dramatically less than the market capitalization of $1.22 billion. Through many years the company has been using its soaring equity for funding its expenses.