NEW YORK (AP) — Shares of Repros Therapeutics Inc. plunged Monday after the company said it is halting development of its experimental drug Proellex because of an increase in liver enzymes in patients. Meanwhile, the company said it is considering various financing alternatives to address its immediate needs. If the company can’t raise funds, it may have to further cut costs, sell assets, or possibly sell the company. Repros shares plunged $1.24, or 49 percent, to reach $1.29 in afternoon trading. The stock has traded between $1.01 and $13.94 over the last 52 weeks. The drug is being studied as a potential treatment to reduce the amount of menstrual bleeding associated with uterine fibroids, which are noncancerous growths of muscle fibers inside the uterus that can cause heavy menstrual bleeding, pelvic soreness and pain during sex. The Woodlands, Texas-based company had already suspended development of a 50-milligram dose of the drug. The latest action also cuts out the 25-milligram dose. “This decision is based on available information regarding the occurrence of clinically significant increases in liver enzymes with 50-milligrama and 25-milligram doses of Proellex, coupled with recent input from a consulting panel of liver experts,” the company said, in a statement. The company said more than 500 patients in the study received Proellex in various doses. In all, 13 had an increase in liver enzymes greater than the normal limit, and nine of those cases were confirmed after 48 hours.
