Shares of TherapeuticsMD rose Tuesday after the company reported positive study results for a drug designed to treat symptoms of menopause.
The company said women who took its drug, which is called Vagicap, had lower levels of the hormone estradiol in their bodies than patients who took Novo Nordisk's drug Vagifem. Patients who used the Vagicap capsule had lower overall exposure to estradiol and lower peak levels as well. It said higher estradiol concentrations are associated with increased risk of side effects.
The latest studies were designed to show how the drug behaves in the human body rather than how well it works. The company said early stage clinical trial results were positive. TherapeuticsMD Inc. is studying Vagicap as a treatment for moderate to severe symptoms associated with menopause. The product is a soft gel cap intended to be inserted into the vagina, and the company says it is fast-acting.
Shares of the Boca Raton, Fla., company rose as much as 9 percent in morning trading, reaching a 52-week high of $6.18. At midday TherapeuticsMD shares were up 28 cents, or 5 percent, at $5.94.