10-Bagger Hunt Heads Back to Repros (RPRX)
Repros Therapeutics Inc. (NASDAQ: RPRX) is soaring in the quest for the next ten-bagger…. This is a micro-cap stock that had a $19.1 million market cap before this morning’s news. The company reported that it has received verbal confirmation from the FDA’s Division of Metabolic and Endocrine Drug Products. According to this, the company may initiate its Investigational New Drug Application for the study of oral Androxal as a potential treatment of hypogonadal men with Type II Diabetes with a Phase IIa trial. While the move to chase the next 1,000% potential gainer is often on hype, it is at least easy to see why traders, speculators and investors would be chasing this stock.
According to the press release, The FDA noted no clinical hold issues. It did add that the agency may have some comments on the specifics of the Phase II design. But the company also noted that doses to be tested in the Phase IIa study have been safely tested for longer durations in trials in men for the treatment of secondary hypogonadism.
Repros plans to enroll a total of 60 men into three balanced parallel arms at several clinical sites comparing placebo to two active doses. In a 200 patient study of Androxal in hypogonadal men it was noted that fasting glucose levels were reduced in a significant manner in men whose glucose levels were greater than 104 mg/dL. It was further noted that the higher the glucose level the greater the reduction.
The market is not quite open and at 9:22 AM EST we have seen a 35% gain to $1.01 on 322,000 shares. The average daily volume is 989,000 shares and the 52-week trading range is $0.64 to $10.60.
As of September 30, 2009, the balance sheet here was tiny at 2.5+ million in cash. Just keep in mind that it already announced a capital raise in October, shortly after good news.
We noted that it is at least easy to see why traders, speculators and investors would be chasing this stock. Even at $1.01 after such a large pop… Even considering its news-bump followed by a capital raise, this was a $10 stock just a year ago. This company has also been around since the early 1990′s and used to trade at significantly higher prices.
JON C. OGG
FEBRUARY 2, 2010
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