Repros Therapeutics Shares Rally Following Ladenburg Upgrade To Buy, Positive Data

Shares of Repros Therapeutics Inc RPRX climbed more than 8 percent in Wednesday’s pre-market hours after positive clinical data of Proellex led Ladenburg Thalmann to upgrade shares to Buy, with a $5.50 price target.

Repros announced positive Phase 2b data for both its oral and vaginal delivery trials following two 18-week cycles of treatment with Proellex in uterine fibroids.

Among others, the study met its primary endpoint of induction of amenorrhea for both pooled oral and vaginal delivery compared to placebo. The company plans to submit a request to the FDA before the end of 2016 to discuss the Phase 3 program.

“We are impressed by the initial top-line results showing oral Proellex was safe and effective in inducing amenorrhea in the majority of patients following two 18 week treatment cycles,” analyst Matthew Kaplan wrote in a note.

In addition, Kaplan believes the positive Phase 3 uterine fibroid data reported for ulipristal is positive for Proellex, as it could increase partnering interest. In May 2016, Allergan plc Ordinary Shares AGN and Gedeon Richter Plc announced positive results from Phase III clinical trial of ulipristal acetate in women with uterine fibroids.

At time of writing, shares of Repros rose 5.32 percent to $1.98. At last check, shares had retreated, but were up 1.06 percent on the day at $1.09.