Positive Phase III results for Myovant's once daily relugolix

Myovant Sciences (NYSE: MYOV), a Roivant Sciences majority-owned company developing and commercializing innovative therapies for women’s health and prostate cancer, today announced that LIBERTY 1, the first of two Phase III studies of once daily relugolix combination therapy met its primary efficacy endpoint and six key secondary endpoints in women with uterine fibroids.

Relugolix combination therapy maintained bone mineral density at levels comparable to placebo over 24 weeks and was generally well tolerated.

Myovant’s shares were up 21.6% at $13.50 in pre-market trading this morning. However, the stock had plunged 25.93% to $12.80 by late morning, following a conference call when the company made much of a head-to-head comparison of relugolix and AbbVie’s close rival, Orlissa, amid concerns about an expensive launch and a rival with deeper pockets, noted Amy Brown on Vantage, the editorial arm of the Evaluate group.