Stock Alert: Myovant Sciences Slides 24% On Relugolix Data

(RTTNews) - Shares of Myovant Sciences Ltd. (MYOV) are losing more than 24 percent or $5.15 in Tuesday's morning trade at $15.94.

Tuesday, Myovant Sciences announced results of an additional secondary endpoint from the Phase 3 HERO study evaluating Relugolix in men with advanced prostate cancer.

According to the company, Relugolix did not achieve statistical superiority for castration resistance-free survival compared to leuprolide acetate in men with metastatic disease through 48 weeks.

In the subgroup of men with metastatic disease treated with relugolix, 74 percent were castration-resistance free through 48 weeks, compared to 75 percent men treated with leuprolide acetate. Castration-resistant prostate cancer is defined by disease progression despite achieving testosterone suppression to castrate levels.

Myovant has traded in a range of $4.14 to $23.04 in the past 52 weeks.