Benzinga | Sep 29, 2020 11:02AM EDT

Why Myovant's Stock Is Trading Lower Today

Myovant Sciences (NYSE:MYOV) shares are trading lower on Tuesday after the company announced that its Relugolix did not achieve a statistical superiority for castration resistance-free survival compared to Leuprolide acetate in men with metastatic disease through 48 weeks.

Myovant Sciences is a healthcare company focused on redefining care for women and for men. The company's lead product candidate is relugolix, a once-daily, oral GnRH receptor antagonist. It has three late-stage clinical programs for relugolix in uterine fibroids, endometriosis, and prostate cancer. The company is also developing MVT-602, an oligopeptide kisspeptin-1 receptor agonist, that has completed a Phase 2a study for the treatment of female infertility as part of assisted reproduction.

Myovant Sciences shares traded down 24.51% to $15.86 on Tuesday during the time of publication. The stock has a 52-week high of $23.04 and a 52-week low of $4.14.