Big gain for Myovant as oral prostate cancer therapy heads for submission

Myovant shares more than doubled in value Tuesday after the company revealed Phase III data showing its oral GnRH receptor antagonist relugolix led to sustained testosterone suppression in 96.7% of prostate cancer patients in Phase III testing, and was non-inferior to an injectable standard-of-care therapy on secondary endpoints.

The news drove the valuation of Myovant Sciences Ltd. (NYSE:MYOV) as high as $1.5 billion intraday; its shares ended the day up $6.95 (115%) to $13.01 for a valuation of $1.2 billion...