GTx, Inc. (GTXI) Soars 25% in Light of Encouraging Data in SUI
It’s a big day for GTx, Inc. (NASDAQ:GTXI). The biopharmaceutical company released positive clinical data that had many, even some of the biggest bears on the stock, commending the headway GTx has made.
Specifically, GTx disclosed additional results from a Phase 2 proof-of-concept clinical trial of 3 mg enobosarm administered orally in postmenopausal women with stress urinary incontinence (SUI), including magnetic resonance imaging (MRI) results from patients’ pelvic floor muscle. New data in a subset of women also suggests a positive treatment effect of enobosarm for urge incontinence (UI) suggesting a possible treatment effect for women with mixed incontinence. Results from a pre-specified analysis of MRI data demonstrate a statistically significant increase in pelvic floor muscle thickness and urethral muscle diameter after enobosarm treatment. Treatment with enobosarm also reduced mean UI episodes by approximately 68 percent in patients who experienced UI as well as SUI, based on a post hoc analysis of a subset of women with both UI and SUI. These results were outlined during a podium presentation which took place at the Society of Urodynamics, Female Pelvic Medicine, & Urogenital Reconstruction (SUFU) 2018 Meeting on Saturday, March 3, 2018.
GTx shares reacted to the news, soaring nearly 25% to $20.93 in Monday’s trading session.
“Enobosarm’s overall treatment effect was consistent with previously announced results, and importantly, these new results demonstrate that enobosarm may address a broader treatment need since many women suffer from symptoms of both stress and urge incontinence, also known as mixed incontinence,” said Kenneth M. Peters, M.D., Chairman of Urology, Oakland University William Beaumont School of Medicine, and the principal investigator in the trial. “In addition, with the MRI results, we are seeing anatomical changes supporting enobosarm’s mechanism of action on pelvic floor muscle.”
Out of the 3 analysts polled by TipRanks in the past 12 months, 2 rate GTx stock a Buy, while 1 rates the stock a Hold. With a downside potential of 35%, the stock’s consensus target price stands at $13.33.