GTx ex­ec­s' sole drug fails the lead in­di­ca­tion study in a painful set­back -- shares smashed

GTx’s $GTXI big cat­a­lyst has blown up in their faces.

The Mem­phis-based biotech says that their Phase II ASTRID study com­par­ing two dos­es of eno­bosarm for sig­nif­i­cant­ly re­duc­ing in­stances of stress uri­nary in­con­ti­nence failed, which in­vestors will not want to hear.

This was GTx’s lead in­di­ca­tion on its one and on­ly clin­i­cal-stage drug, and their stock im­plod­ed on the news, drop­ping more than 90% in an ex­tinc­tion-lev­el event.

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