Shares of GTx, Inc. (NASDAQ:GTXI) are the best performing amongst NASDAQ-traded equities, soaring on positive preliminary results from the Memphis-based company's ongoing Phase 2 clinical trial evaluating enobosarm in post-menopausal women with stress urinary incontinence (SUI).
To the market's liking, the company disclosed data from the first seven women in the trial that completed 12 weeks of enobosarm treatment.
The proof-of-concept study is the first ever to take a look at an orally administered selective androgen receptor modulator for the condition.
Women enrolled in the trial demonstrated SUI symptoms for over six months with three to 15 SUI episodes per day averaged over a three-day period and a positive bladder stress test. Per the interim data, all seven subjects showed a clinically significant reduction in daily incontinence episodes, including mean stress leaks decreasing by 80.9% compared to baseline at week 12.
The worst reduction in stress leaks was still 65%, demonstrating the efficacy of the treatment.
The effect was durable as well, with patients reporting fewer incontinence episodes for up to five months. Given the benefits, patients reported an improved quality of life, as measured by the Patient Global Impression of Improvement index.
GTx noted that nearly half of U.S. women experience symptoms of SUI, creating a large need for a new oral therapeutic.
Closing Friday at $3.09, shares of GTXI have left "penny stock" land (as defined by some as shares trading under $5.00 each), as part of a dramatic run Monday. Shares were battling some intraday resistance around $4.75 before breaking out above $5.00 just before 1:00 PM EDT.
At the completion of this writing, shares are up 81.1% at $5.59.
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