Why TherapeuticsMD Inc Is Skyrocketing Today
After TherapeuticsMD (NYSEMKT: TXMD) announced that it plans to resubmit TX-004HR to the Food and Drug Administration for review, shares of the small-cap biotech focused on women's health shot up, gaining 44% as of 11:20 a.m. EST on Monday.
TherapeuticsMD's management team held an in-person meeting with the FDA on Friday, Nov. 3, to discuss the resubmission process for TX-004HR. The drug, also called Yuvvexy, is a possible treatment for dyspareunia, or moderate-to-severe vaginal pain during sexual intercourse.
The company had previously received a complete response letter -- which is the FDA's equivalent of a rejection letter -- for TX-004HR because its application lacked long-term safety data. Investors worried that the resubmission process was going to be lengthy and expensive.
Source: Fool.com
