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MYOV Up Over 130% In 5 Days, What's Next?

Shares of Myovant Sciences Ltd. (MYOV) have gained more than 130% over the last 5 trading days, thanks to HERO, the Company's phase III study of once-daily, oral Relugolix in men with advanced prostate cancer.

In the HERO study, the results of which were announced last week, 96.7% of men receiving once-daily, oral Relugolix achieved sustained testosterone suppression to castrate levels.

Relugolix is also under a phase III clinical program consisting of two international, replicate pivotal clinical studies, dubbed SPIRIT 1 and SPIRIT 2, in women with endometriosis-associated pain.

Myovant expects to report top-line results from the SPIRIT 2 and SPIRIT 1 studies in the first and second quarters of the calendar year 2020, respectively.

Another phase III program, consisting of two studies LIBERTY 1 and LIBERTY 2, evaluating Relugolix in women with heavy menstrual bleeding associated with uterine fibroids is also underway.

Myovant in-licensed Relugolix from Takeda in 2016 for territories outside of Japan and Asia. Relugolix, under brand name Relumina Tablets 40 mg, was approved in Japan early this year for the improvement of symptoms of uterine fibroids (heavy menstrual bleeding, lower abdominal pain, lower back pain, and anemia).

Cash, cash equivalents, and marketable securities of Myovant totaled $157.6 million as of September 30, 2019.

MYOV has traded in a range of $4.14 to $26.02 in the last 1 year. In pre-market trading on Monday, the stock is up 3.62% to $14.60.

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