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Here's Why Repros Therapeutics (RPRX) Stock is Soaring Today

On Wednesday, shares of biopharmaceutical company Repros Therapeutics Inc RPRX are soaring around 30% in late-morning trading after the company reported after Tuesday’s close positive drug study results.

According to a small Phase 2b study, patients receiving 6mg and 12mg doses of Proellex saw significant reduction in excessive menstrual bleeding, which is a key symptom of uterine fibroids; the drug was generally well tolerated.

Repros believes Prollex "represents a significant advantage over GnRH agonists and antagonists in the treatment of uterine fibroids." The company plans on requesting an end of Phase 2 after meeting with the U.S. Food and Drug Administration, and will discuss plans for a Phase 3 trial.

RPRX currently has a #1 (Strong Buy) on the Zacks Rank.

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