It’s a very rewarding trading day for investors in GTx, Inc. (NASDAQ:GTXI) with shares up over 70%, making the stock Wall Street’s bull of the day. The reason? The biopharmaceutical announced positive preliminary results from its ongoing Phase 2 clinical trial evaluating enobosarm in post-menopausal women with stress urinary incontinence (SUI).
Principal investigator Kenneth Peters commented, “With approximately half the women in the United States experiencing symptoms of SUI, there is a growing need for an effective oral therapy to treat women with stress urinary incontinence […] I am very encouraged by the consistency and strength of these early results, and I look forward to presenting more detailed clinical data from this ongoing clinical trial at the upcoming International Continence Society (ICS) meeting.”
The board’s executive chairman Robert Wills said, “What caught our attention was the fact that the first seven patients dosed in this study saw impressive positive results. We subsequently added two additional clinical trial sites, and we look forward to presenting data from additional patients from this study at the ICS meeting in September […] We believe SUI represents a near-term commercial opportunity in a potentially large population of women whose treatment options are currently limited to non-pharmacologic or invasive treatments.”
On the ratings front, Jefferies analyst Eun Yang reiterated a Hold rating on GTXI, with a price target of $7.00, in a report issued on April 11. The current price target represents a potential upside of 25% from where the stock is currently trading. According to TipRanks.com, Yang has a yearly average return of 0.8%, a 46% success rate, and is ranked #2124 out of 4570 analysts.
GTx, Inc. is a a biopharmaceutical company, which engages in the discovery, development and commercialization of small molecules for the treatment of cancer, including treatments for breast and prostate cancer, and other serious medical conditions. It focuses on developing selective androgen receptor modulators and selective androgen receptor degrader for the treatment of breast cancer, stress urinary incontinence, Duchenne muscular dystrophy, and prostate cancer.