Repros Therapeutics Inc RPRX share are trading higher by $1.05 at $1.87 or 125 percent in Wednesday's session. The catalyst for the rally is a positive report on Proellex, which helps control menstrual bleeding in women with uterine fibroids. The drug reached its primary endpoint and showed reduction in fibroid size.
After a higher open, it retreated and found support ahead of the top of Tuesday's range ($0.86), only reaching $0.97 before resuming its move higher. So far, it has crossed the $2 barrier reaching $2.03 and has backed off.
That marks the first time over $2 since December, when it peaked at $2.34.
It should be noted the rally is taking place on much higher than average volume. With less than two hours remaining, over 20 million shares have traded compared to its nine-day average of 885,000.
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