GTx, Inc. (NASDAQ: GTXI) had some hitch in its step in mid-morning trading Monday, after the company disclosed positive preliminary results from ongoing Phase 2 proof-of-concept clinical trial in women with stress urinary incontinence (SUI).
An abstract posted by the Memphis-based drug company, and entitled “Kegels In A Bottle”: Preliminary Results Of A Selective Androgen Receptor Modulator (GTx-024) For The Treatment Of SUI In Post-Menopausal Women, summarized clinical data from the first seven patients completing 12 weeks of treatment with enobosarm.
The treatment was given to post-menopausal women who had demonstrated SUI symptoms for more than six months, with three to 15 reported SUI episodes per day averaged over a three-day period, and a positive bladder stress test.
The study found mean stress leaks decreased by 80.9% from baseline over 12 weeks
Stress leaks decreased from a mean of 5.7 leaks/day at baseline, to 1.1 leaks/day at Week 12. All patients saw at least a 65% reduction in number of stress leaks.
GTx Inc. is a biopharmaceutical company dedicated to 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.
Its fiscal first-quarter results, announced in May, revealed a net loss of $6.3 million compared to net income of $2.1 million for the same period in 2016. Net income for the quarter ended March 31, 2016 included the non-cash gain of $8.2 million related to the revaluation of the Company’s warrant liability.
GTx shares galloped $1.40, or 45.2%, early Monday to $4.49, within a 52-week trading range of $2.73 to $11.19.
