Benzinga | Mar 22, 2021 03:46PM EDT

Why GRPN Stock And ODT Stock Are Trading Lower Today

Groupon Inc (NASDAQ:GRPN) shares are trading lower Monday after the company announced a proposed private offering of $200 million of convertible senior notes.

Groupon acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store. The company is best known for offering consumers daily deals in the form of online vouchers from local merchants.

Odonate Therapeutics Inc (NASDAQ:ODT) shares are trading lower after the company said it would discontinue the development of its Tesetaxel.

Odonate is engaged in the development of therapeutics which improve and extend the lives of patients with cancer. The company mainly focuses on the development of tesetaxel, a novel chemotherapy agent that belongs to a class of drugs, taxanes, which are widely used in the treatment of cancer including breast cancer.