GTx Inc. Pops on Study Results (GTXI)
Shares of GTx Inc. (NASDAQ: GTXI) are popping higher today by 3.50%, currently trading at $3.26. The stock is moving higher after the company said that its study for treating advanced prostate cancer was shown to reduce testosterone levels in healthy males--a sign that it may be effective as a hormonal treatment for the cancer.
The company added that the phase II trial showed that the Pdt was well tolerated, with no serious adverse events.
GTx, Inc. is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that targets hormone pathways to treat cancer, osteoporosis and bone loss, muscle loss and other serious medical conditions.
As of December 31, 2009, the company is developing toremifene citrate, a selective estrogen receptor modulator, in two separate clinical programs in men: toremifene 80 milligram in a pivotal Phase III clinical trial to reduce fractures and treat other estrogen deficiency side effects of androgen deprivation therapy in men with prostate cancer, and, toremifene 20 mg in a pivotal Phase III clinical trial for the prevention of prostate cancer in high risk men with precancerous prostate lesions, called high grade prostatic intraepithelial neoplasia.
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