Big moves in pharma today: Repros tanks, Protalix jumps
Two pharma stocks today have been making big moves. Repros Therapeutics (RPRX) shares tanked about 27 percent after the company said it ran out of sufficient cash to fund current operations, while shares of Protalix BioTherapeutics (PLX) jumped about 11 percent after the FDA approved a treatment protocol for its experimental drug for Gaucher disease.
Earlier today, BloggingStocks' Elizabeth Harrow reported that Repros said the amount of cash it has on hand is insufficient and it is "exploring potential new financing alternatives." The company went on to say that there is no guarantee such a measure would be successful.