Why Odonate Therapeutics Stock Is Soaring Today

Shares of Odonate Therapeutics (NASDAQ: ODT) were soaring 23.1% as of 11:23 a.m. EDT on Friday. The drugmaker announced after the market closed on Thursday the pricing of a public offering of more than 5.6 million shares at $14.25 per share.

Normally secondary stock offerings cause shares to fall, so why did Odonate Therapeutics stock rise? There could be a couple of factors at work.

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Source Fool.com