Volume Spike Investor

Repros Therapeutics Inc. (NASDAQ: RPRX) was already a low-priced stock, but shares are getting hammered after it announced that it is voluntarily suspending dosing of all patients in its clinical trials of Proellex in the interest of patient safety. The company said that suspension of dosing will involve all ongoing clinical trials with Proellex for the treatment of chronic symptomatic uterine fibroids, associated anemia, and endometriosis.  After a $2.53 close, we have shares down 60% at $1.05 on close to 50,000 shares as of 8:05 AM EST.  This only trades about 340,000 shares per day, but you can expect an exponential volume move today as traders will be buying and selling a low-priced biotech with a huge price shock.  This is a microcap stock which looks like its market cap is now under $20 million if you account for the drop.

Jon C. Ogg
August 3, 2009