A drug candidate once shelved by Takeda Pharmaceutical (NYSE: TAK) has found new life within Roivant Sciences spinout Myovant as a potential once-daily oral hormone therapy for patients with advanced prostate cancer.
The Brisbane, CA-based biotech company (MYSE: MYOV) reported Tuesday that the drug, relugolix, met the primary goal of a Phase 3 trial, lowering levels of testosterone to what’s known as “castrate levels” through 48 weeks for 96.7 percent of those receiving the investigational medicine. The threshold needed to support an FDA review was 90 percent.
Myovant’s stock price rose 113 percent following the news to $12.92 per… Read more »
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