Repros Therapeutics Offering (NASDAQ:RPRX)

Just a day after the success of its male hormonal treatment, Androxal, Repros Therapeutics Inc announced that they are willing to sell 3.5 million shares of stock to institutional investors at a discounted price of $1.27 per share. Repros Therapeutics is a development stage biopharmaceutical company that is focused on the development of oral small molecule drugs to treat major unmet medical needs in male and female health. Shares of Repros Therapeutics fell down minutes after the announcement was made by the company that they will sell their shares to institutional investors at a discounted rate.

On Thursday morning, shares of Repros Therapeutics dropped 36 cents, or 19.4 percent, to $1.50. Repros has said that they expect the gross proceeds to be around US$ 4.4 million that will be made from this shares offering. Repros’ new drug Androxal is intended to increase testosterone production in men whose bodies make low amount of hormones. On Wednesday, Repros Therapeutics had made an announcement that their new drug restores normal testicular function but increases the sperm count and boosts levels of two fertility related hormones. The announcement about the success of Androxal was welcomed and shares of Repros went up on Wednesday. However, with the shares offering news, Repros shares dropped considerably.