San Diego-based Odonate Therapeutics has filed with the SEC to raise up to $173 million in an initial public offering for its oral chemotherapy drugs.
Odonate in the fourth quarter of 2017 will enroll patients in a phase 3 study of tesetaxel, its drug for patients with locally advanced or metastatic breast cancer, according to the filing. The company, which noted tesetaxel is its focus, plans to report results in 2020.
The filing states tesetaxel is a pill that can be swallowed, versus intravenous chemotherapies that require travel to a center.
In 2013, Odonate licensed the rights to tesetaxel in all major markets from Japanese company Daiichi Sankyo, which invented the drug.
Odonate has 44 employees.