NEW YORK (AP) -- Shares of Repros Therapeutics Inc. rose Wednesday after it received two patents for its low testosterone treatment Androxal, potentially giving the company a longer period of marketing exclusivity if the drug is approved.
Repros said the patents expire in 2028 and 2031, and the latter is related to the treatment of Type 2 diabetes. In 2010 the company received a patent that covered Androxal through 2023, which could be extended to 2028.
Shares of Repros rose 87 cents, or 5.3 percent, to close at $17.19. The stock is up 88.3 percent since March 27.
Repros does not have any approved drugs. It is studying Androxal capsules as a treatment for secondary hypogonadism, a condition of low testosterone, and as a treatment for Type 2 diabetes in men. The drug blocks the production of the hormone estrogen, which helps the body produce more testosterone.
On March 28 Repros said Androxal met both goals mandated by the Food and Drug Administration in a late-stage study that evaluated the drug as a treatment for secondary hypogonadism. The Woodlands, Texas, company plans to file for marketing approval of Androxal in mid-2014.