March 28 (Bloomberg) -- Repros Therapeutics Inc., maker of an experimental drug to restore normal testosterone levels to men with hypogonadism, gained the most in more than two years after the drug met study goals.
Repros soared 76 percent to $16.10 at the close in New York, for the biggest one-day increase since December 2010. The shares of the Woodlands, Texas-based company have almost quadrupled in the past 12 months.
The medicine, Androxal, is designed to treat men with secondary hypogonadism, a condition characterized by low levels of the hormone testosterone caused by a problem in the hypothalamus or pituitary gland, according to the Mayo Clinic. The 151-patient study showed that 79 percent of men treated with Androxal reached a 24-hour average testosterone level in the normal range, the company said today in a statement, meeting the study’s main goal.
Androxal also was shown to be generally well-tolerated and met a “non-inferiority” goal in sperm count compared with placebo, the company said in the statement.
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