Here's Why Myovant Sciences Stock Is Falling Today

Myovant Sciences (NYSE: MYOV) stock is losing ground after the company reported earnings for its fiscal first quarter, the three-month period ended June 30, 2021. Investors upset about net product sales that weren't very impressive led the stock 12.5% lower this morning. The stock recovered some losses and was down just 9.1% as of 2:17 p.m. EDT on Wednesday.

Sales of products containing Myovant's gonadotropin-releasing hormone (GnRH) receptor antagonist, Orgovyx (relugolix), weren't as impressive as investors were expecting. Second-quarter sales of Orgovyx, the prostate cancer treatment the FDA approved last year, reached just $10.5 million.

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Source Fool.com